Tana,

Thanks for keeping us updated on the Deutsche negotiations.  If, as you
suggest, Deutsche can prepare a Master for the EnronCredit.com Limited
Master as the docs are on their system then this would be useful, and I will
review and comment on those.  The one thing they will need to ensure as you
mentioned is that the Master Agreement is governed by English law.  In
addition, I  am not sure if you have put a CSA in place with Deutsche, but
if you have (presumably a Paragraph 13 under the NY law CSA?) we would need
the corresponding Paragraph 11 to the English Law CSA.

Many thanks again and we look forward to progressing this matter.

Kind regards,

Clare

>  -----Original Message-----
> From:  Clarry, James:ICM (LN)
> Sent: Friday, December 01, 2000 10:30 AM
> To: Godson, Clare:ICM (LN)
> Subject: FW: ISDA Master Agreement: Deustche
>
>
>
>  -----Original Message-----
> From:  Richard.Sage@enron.com@ALLEN & OVERY
> Sent: Friday, December 01, 2000 10:25 AM
> To: Clarry, James:ICM (LN)
> Subject: Re: ISDA Master Agreement: Deustche
>
>  << OLE Object: Picture (Device Independent Bitmap) >>
> FYI
> ---------------------- Forwarded by Richard Sage/LON/ECT on 01/12/2000
> 10:27 ---------------------------
>
> From: Tana Jones on 30/11/2000 17:00 CST
>
> To:   Richard Sage/LON/ECT@ECT
> cc:
>
> Subject:  Re: ISDA Master Agreement: Deustche  (Document link: Richard
>       Sage)
>
> FYI,
>
> Bill Bradford in Credit had a conference call today with the Deutsche Bank
> Credit person and I think we have come to agreement on not adding any
> specified entities to the ISDA Master Agreement.  He also discussed
> proposed credit limits for the three other Deutsche Bank masters we want
> to
> get in place (including EnronCredit.com).  I think we are done now and
> hope
> to get execution documents from them, since the documents are on their
> system.  Our intention is to then get Deutsche Bank to turn around 3 like
> masters, making any changes necessitated by change of law, and otherwise
> turn around the remaining masters quickly.  I'll keep you posted.
>
>
>
>                     Richard Sage
>                                          To:     Tana Jones/HOU/ECT@ECT
>                     11/30/2000           cc:
>                     10:52 AM             Subject:     Re: ISDA Master
> Agreement: Deustche
>
>
>
>
>
> If you do add all the entities, does that mean that we would not need to
> put in place a separate agreement for ECCL?
> ---------------------- Forwarded by Richard Sage/LON/ECT on 30/11/2000
> 16:53 ---------------------------
>
> From: Tana Jones on 27/11/2000 15:45 CST
>
> To:   Denis O'Connell/LON/ECT@ECT
> cc:   Richard Sage/LON/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
>
> Subject:  Re: ISDA Master Agreements  (Document link: Richard Sage)
>
> With respect to Deutsche Bank (""DB"), we have one credit issue remaining,
> DB would like us to add all the Enron trading entities DB trades with as
> Specified Entities under the ISDA Master Agreement and we are somewhat
> hesitant to do so, as this could potentially roll up swaps under
> structured
> loan transactions into a default under the ISDA Agreement.  Sara and Bill
> Bradford in Credit are supposed to talk to the DB Credit people about this
> remaining issue.
>
> With respect to First Union National Bank, the draft we were working from
> was so old that they agreed to look at our current form of agreement which
> was sent to them on 11/8/00 for review.  Sara is working on that with
> Susan
> Bailey, another paralegal in our Group.
>
>
>
>                     Denis
>                     O'Connell            To:     Tana Jones/HOU/ECT@ECT
>                                          cc:     Richard Sage/LON/ECT@ECT
>                     11/22/2000           Subject:     ISDA Master
> Agreements
>                     06:05 AM
>
>
>
>
>
> Tana - can you please give me an update on where you are in the
> negotiations of the ISDA with the following counterparties and confirm
> which Enron entity you are negotiating on behalf of.
>
> Tks,
>
> Denis
>
>
> First Union National Bank
>
> Deutsched Bank AG
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>  << OLE Object: Picture (Device Independent Bitmap) >>  - att1.eml <<
> File: att1.eml >>


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