Message-ID: <14357110.1075859549080.JavaMail.evans@thyme>
Date: Tue, 28 Dec 1999 03:36:00 -0800 (PST)
From: elizabeth.sager@enron.com
To: brenda.whitehead@enron.com
Subject: Latest Credit Worksheets for Project Moosehead
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please print both
---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 12/28/99 11:36 
AM ---------------------------


Tracy Ngo
12/28/99 11:14 AM
To: Sara Shackleton/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Stuart 
Zisman/HOU/ECT@ECT
cc: Mark E Haedicke/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT, William S 
Bradford/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT 
Subject: Latest Credit Worksheets for Project Moosehead

Attached please find the latest credit worksheets for the physical and 
financial transactions between EPMI and Merrill Lynch Capital Services, Inc.  
The credit worksheet for the physical transaction is in the form of a 
specific confirmation that will be confirmed under the existing Master Energy 
Purchase and Sale Agreement between EPMI and Merrill Lynch Capital Services.  
The credit worksheet for the financial transaction is in the form of a new 
ISDA Master Swap Agreement.  Per Bill Bradford, please note that Credit 
approval for both worksheets are contingent upon legal approval by Mark 
Haedicke of the physical and financial setoff/netting assumption.

I have requested and am waiting approval from Jeff McMahon to accept the 
counterparty's request to set the third party cross-default amount of 
$50,000,000.  For the purposes of these credit worksheets, the amount 
proposed remains at $100,000,000 for both parties.

Please call should you have any questions, x3-0554.

Regards,
Tracy



  

(physical confirm - credit worksheet)  (new ISDA Master - credit worksheet)