I would slightly modify the First and Second Floating Amount definitions as 
follows.

An amount equal to $2,787,500 plus the sum of the products of (i) the First 
Floating Price for each day during the Calculation Period and (ii) the 
Notional Quantity per Calculation Period.

An amount equal to the sum of the products of (i) the Second Floating Price 
for each hour during the Calculation Period and (ii) the Notional Quantity 
per Calculation Period.

Let me know if you think this works.
Regards,
Brent




	Melissa Ann Murphy@ECT
	05/16/2001 04:41 PM
		 
		 To: Chris H Foster/Enron@EnronXGate
		 cc: Sara Shackleton/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
		 Subject: Merchant Energy Deals

I have attached the new drafts below:




Let me know if any further changes are needed.

Thanks,
Melissa
(713) 853-1886