Lisa Palmer and I had a conference call with the Xerox lawyer and commercial 
person.  The main issues are the following:

No CSA (claim to have over 40 ISDA Masters none of which contain CSA's! and 
not set up to handle collateral)
Rating downgrade is a Termination Event.  (Maybe they'll agree to our posting 
L/C's 
MUST have cross-acceleration (POLICY).
Guess what else?  NO NETTING (can't handle netting internally)

Otherwise, Xerox is cool.