Sara:
FYI.  Can we talk about this?
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 05/22/2000 10:43 AM -----

	Susan Bailey
	05/22/2000 09:54 AM
		 
		 To: Carol St Clair/HOU/ECT@ECT
		 cc: 
		 Subject: 

Carol,

Set forth below are the form issues:

I. Schedule to Master Agreement

 A. Credit:

 1.  Footnote #6 -  do we want to include the additional sentence under Part 
1(b) for cross default when ENA's/ECC's counterparty is a financial   
institution, particular one which is a credit institution of Enron Corp.?
 2.  Footnote #18 -- how do we handle the 125% exposure issue in the 
additional event of default section?
 3.  Discuss with Rod Nelson as to online matters involving hedge funds.

 B. Legal:

 1.  Carol/Sara to visit with Mark Taylor and/or David Mitchell regarding 
Foonote #50 (Trade Option Exemption representation for ECC deals and/or   
Canadian counterparties).  
 2.  Carol/Sara to visit with Greg Johnston regarding Footnotes #52 (Canadian 
Securities Acts)  and any other ECC/Canadian matters.
 3.  Carol to provide language as to securing Enron Corp. financials thru the 
website.
 4.  Sara to check Footnote #54 regarding the representation as to 
"Termination Payments" for governmental counterparties.   

II. Paragraph 13 to the Credit Support Annex

 A. Credit:

 1.  Paragraph 13(iv)(C) -- should the "Minimum Transfer Amount" be $0 ?
 2.  Paragraph 13(c)(iv) -- should the "Notification Time" be 9:00am (Houston 
time)?
 3.  Prepare list of non-standard credit ratings definition for use by Legal.

 B. Legal:

 1.  Paragraph 13(f)(iv) -- Carol/Sara to discuss with Mark this pulp & paper 
provision.
 2.  Carol to rework language used for the MAC definition of "PV15 of PDP".   
 3.  Exhibit A to Paragraph 13 of Annex A -- Carol/Sara to discuss with Mark 
provision (f).
 4. Schedule 1 (L/C form) Carol to provide updated language. 

The approved form changes are now being made and will be distributed by 
mid-day today.

Let me know if have neglected to include anything.

Susan