Message-ID: <25095335.1075846132914.JavaMail.evans@thyme>
Date: Mon, 7 Aug 2000 10:51:00 -0700 (PDT)
From: roseann.engeldorf@enron.com
To: kay.mann@enron.com
Subject: Re: VEPCO PPA.DOC
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X-From: Roseann Engeldorf
X-To: Kay Mann
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Kay - I reviewed the captioned.  My only comments are - 

p. 8  - The date in 3.1(a) is July 15, 2000 - should it be 2001?

Also, on p.8, I am not sure how the 3.3 damages calculation is supposed to 
work with the LD calculation under Section 4.6.  

Interesting "reinstatement" provisions - I'd love to talk to you sometime and 
find out why! 

I assume the structure will require "hell or high water" provisions and 
"market LDs."  I saw that there are provisions "de-linking" the provision of 
power from the building or commissioning of the project - I assume Herman 
will be able to tell you if the de-linking and LDs pass muster with AA for 
purposes of "marking" the contract and getting the cash flow and earnings pop.

Thanks,


Rose