Subject: FW: Cross Affiliate Netting Agreement - RWE
From: [email-masked]
To: [email-masked], credit <[email-masked]>
Date: Fri, 2 Nov 2001 09:09:05 -0800 (PST)

Jason, do you need to be involved in this one?  Let me know.   Marie, please assign this one to an attorney to assist London as needed.  Assign to Alan Aronowitz.
 -----Original Message-----
From: 	Schuh, Michael  
Sent:	Friday, November 02, 2001 8:45 AM
To:	Cook, Mary
Cc:	Cini, Pat
Subject:	Cross Affiliate Netting Agreement - RWE

Mary,

I am in Marcus von Bock?s group in Legal/London and together with Pat Cini (Credit/London) am negotiating a Netting Agreement for physical gas and power, as well as a Cross Affiliate Netting Agreement for physical and financial transactions with RWE Trading GmbH.

The Enron entities involved are 

Enron Capital & Trade Resources Limited
Enron Capital & Trade Resources International Corp
Enron Financial Energy Trading LLC

There are two issues:

We will have to prepare a board resolution with regard to the corporate benefit/appropriate consideration of the agreement to the various entities. For ECTRIC and EFET would you want to take a look at this ?

Pursuant to Section 8 (e) of the Cross Affiliate Netting Agreement (draft attached) we are making a representation regarding the non existence of any lien or other encumbrance on the rights to any amounts owed to us under the underlying agreements. Who would assist with a lien search regarding the US entities ?

We are looking to close these agreements by Monday or Tuesday.

Regards,

Michael