A couple of thoughts regarding the redline:
 
1) Scope of Agreement: .."judgement resulting from this Agreement shall be made only from the revenues received from Customer's natural gas system operations.."  I need to re-review the financials to determine how much the gas system operations is worth.  Because of this clause, $15mm in credit may be too much.  Once I can get on the net, I'll review.
 
2) Scope of Agreement:  "Furthermore, in accordance with the Colorado Springs City Charter, performance of Customer's obligations.....expressly subject to appropriation of funds for such purpose by the City Council."  In case we are in a position to call for margin, what is the process of getting it?  Do they have to get permission / authorization from the city, etc..? Tyrell had asked me the process how we call and what we accept for margin, but I'd like to understand the ease and/or difficulty of receiving margin from them.  We may never hit the threshold, but if we do and we can't get margin, we may have a big problem.  
 
3) Gerald, I assume you're ok with the arbitration clauses?  
 
Give me a call if anyone wants to discuss further.  
(713) 345-8261  
 
thanks.  

-----Original Message-----
From: Nemec, Gerald 
Sent: Monday, September 17, 2001 3:44 PM
To: Sonnonstine, Max
Cc: Harrison, Tyrell
Subject: FW: Enfolio agreement


Max,  Please see attached redline from Colorado Springs.  They revised the Collateral limits in Section 4.5.  Let me know your thoughts.
-----Original Message-----
From: Harrison, Tyrell 
Sent: Friday, September 07, 2001 10:08 AM
To: Nemec, Gerald
Subject: FW: Enfolio agreement


I'll follow with a call.
-----Original Message-----
From: Marcus Eller [mailto:meller@csu.org]
Sent: Wednesday, September 05, 2001 8:51 AM
To: Harrison, Tyrell
Subject: Enfolio agreement



The attached contract highlights the changes we have discussed.  The only other matter is the re-writing of the legal opinion.  Please look this over and we can discuss. 

Marcus 


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