Darren:
I've just reviewed this credit worksheet for a first draft ISDA.  Is this the type of counterparty for which a "regulatory out" MAC provision is appropriate?  I am not familiar with Exelon's business.  I know this event was used in some of Tracy's ISDA's with northwest utilities.
Sara

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490