Message-ID: <16866687.1075842085329.JavaMail.evans@thyme> Date: Wed, 19 Apr 2000 11:47:00 -0700 (PDT) From: carol.clair@enron.com To: adele.raspe2@pseg.com Subject: Comments to Latest Drafts Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Carol St Clair X-To: adele.raspe2@pseg.com X-cc: X-bcc: X-Folder: \Carol_StClair_Dec2000_1\Notes Folders\All documents X-Origin: STCLAIR-C X-FileName: cstclai.nsf Adele: Here are my thoughts on the latest drafts of the ISDA and CSA Schedules that you sent to me: 1. In Part 1, Section (e) of the ISDA Schedule, right after the definition of PSE&G Reorganization Transaction you need to delete "S&P". I also need to see what you are planning to put on Annex C. 2. I am checking with my credit person regarding the language that you added to Part 5, Section (h) - Transfer. 3. In the CSA, I thought that both threshold amounts were to be at $7,500,000. In addition, in the proviso after threshold, the term "Specified Condition" should be changed to "Material Adverse Change". A Mac would be triggered if Credit Ratings were below BBB-. 4. In Paragraph 13, Section (e), if the only types of collateral are cash or LC's why is consent required to substitute? 5. I would like to discuss with you our proposed Insert 4 to Paragraph 13, Section (h)(iii). 6. In Paragraph 13, Section (j)(ii)(2), why was the last sentence deleted? 7. I need to discuss with you just a few issues on the LC provisions. I will send you a mark-up with my thoughts and questions. Hopefully we can get this resolved next week. Tuesday through Thursday of next week work best for me. I will fax to you a mark-up with my nits and comments on the lC language. Carol