Since we haven't been able to get the ISDA they have yet to trade with us - this will hopefully let us compete for the business, so any trading is better than before. Thanks for the attention.

Sara - let me know what to do next - wait for you to finish the new draft?

 -----Original Message-----
From: 	Johnson, Rudwell  
Sent:	Monday, October 08, 2001 11:29 AM
To:	Shackleton, Sara; Friedman, Richard
Cc:	Rohauer, Tanya
Subject:	Orlando Utilities Commission

Sara!

We are ok with eliminating the CSA from the ISDA with Orlando Utilities Commission (OUC).  However, we would like to add an additional termination event, of debt rating change below A for OUC and BBB- for Enron Corp.

Richard!

In the absence of any margin rights, we will be monitoring trading activities with this counterparty more closely and this may result in certain transactions limitations. 

Rudwell
53596.