Message-ID: <31569696.1075858301201.JavaMail.evans@thyme> Date: Mon, 6 Nov 2000 21:38:00 -0800 (PST) From: rick.buy@enron.com To: david.gorte@enron.com Subject: New Power Company Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Rick Buy X-To: David Gorte X-cc: X-bcc: X-Folder: \Richard_Buy_Dec2000\Notes Folders\All documents X-Origin: Buy-R X-FileName: rbuy.nsf ---------------------- Forwarded by Rick Buy/HOU/ECT on 11/07/2000 05:32 AM --------------------------- Rick Buy 11/07/2000 05:37 AM To: Dave Gorte, Michael Tribolet/Corp/Enron@Enron cc: Subject: New Power Company fyi-comments? rick ---------------------- Forwarded by Rick Buy/HOU/ECT on 11/07/2000 05:30 AM --------------------------- Molly Harris 11/03/2000 05:57 PM To: Jimmie Williams/HOU/EES@EES, Mark S Muller/HOU/EES@EES, James E Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES cc: William S Bradford/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT Subject: New Power Company Credit recommends offering the following two options to the New Power Company (NPC) as it relates to Firmwide collateral thresholds: Option #1 - NPC receives a $10MM collateral threshold with standard collateral annex terms. Option #2: - NPC receives a $40MM collateral threshold with standard annex terms as well as the following two additional required covenants: a) Liquidity - Maintain minimum liquidity of $300MM, where: Liquidity = cash + marketable securities - debt - LCs - third party guarantees b) Tangible Net Worth - Maintain minimum tangible net worth, as defined by GAAP, of $450MM Note: TNW will be equal to equity less intangible assets including but not limited to goodwill, trademarks, etc. Regards, Molly