Message-ID: <16525896.1075842211451.JavaMail.evans@thyme> Date: Tue, 15 May 2001 07:43:00 -0700 (PDT) From: tracy.ngo@enron.com To: carol.clair@enron.com Subject: RE: EEI Cover Sheet Cc: stewart.rosman@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: stewart.rosman@enron.com X-From: Tracy Ngo X-To: Carol St Clair X-cc: Stewart Rosman X-bcc: X-Folder: \Carol_StClair_June2001\Notes Folders\Smud e-mails X-Origin: STCLAIR-C X-FileName: cstclai.nsf Carol, In response to your questions: #1: legal is fine. done. #2: I'm fine w/that also. Its basically saying the same thing as the ISDA. done. #3: I'm fine w/excluding the Joint Powers Agency (take or pay contracts) that cp may have. done. I don't recall them excluding it from the ISDA though...may want to verify and ask them of that. #4: I'm fine w/posting of 10days...as long as its on a bilateral basis. I thought the ISDA accomplished that...but I may have misread it to apply to all margin calls similar to SMUD doing so. Carol, can we have it apply to all margin calls? Thanks for handling. Tracy -----Original Message----- From: St Clair, Carol Sent: Tuesday, May 15, 2001 11:10 AM To: Rosman, Stewart; Ngo, Tracy Subject: FW: EEI Cover Sheet Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com ----- Forwarded by Carol St Clair/HOU/ECT on 05/15/2001 01:06 PM ----- Gary Richardson 05/15/2001 01:04 PM To: "'Carol St. Clair'" cc: Subject: FW: EEI Cover Sheet Ron noted that I failed to note one change that we would like you to consider, i.e., an ACH payment from SMUD to Enron in addition to the wire transfer. <> Message-ID: <276F84930F83D211B5880008C75D8491038DD263@e2.smud.org> From: Ron Jelicich To: Gary Richardson Subject: RE: EEI Cover Sheet Date: Tue, 15 May 2001 08:44:45 -0700 MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2650.21) Content-Type: text/plain; charset="iso-8859-1" One change that did not get in was on page 1 - adding ach as a payment method along with wires to Enron. > -----Original Message----- > From: Gary Richardson > Sent: Monday, May 14, 2001 2:39 PM > To: 'Carol St. Clair' > Cc: Ron Jelicich > Subject: EEI Cover Sheet > > Ron and I reviewed the credit aspects of the EEI document that you sent. > Our redlined changes are attached. If you have no objections to these > changes, we will then forward the document for counsel review. > 1. We changed the party to notify in the event of default to our General > Counsel. > 2. Under Article 5, we changed the Cross Default Amount ratings thresholds > from "below BBB+" to "below A-" to remedy the gap that otherwise would > exist from A- or higher and below BBB+. > 3. Under Section 5.6. we added language to exclude our Joint Powers > Agencies from setoff provisions. Currently, they do not make sales to > outside parties since SMUD takes all their output. Since they are separate > entities with their own bond indentures, we believe it best not to include > them as if they were corporate affiliates. > 4. On page 6, "Transfer Date" the time allotted is two days after receipt > from posting party. As we are currently organized and staffed, we would > find that timeline difficult to meet especially if we were providing a > LOC. We would prefer to have the time extended to 10 days. > << File: SMUD Redline EEI (5.9.01).doc >>