Christian-- Liz asked me to forward a good template of the three way agreement for assignment/ termination of trades in a credit-driven context. Underlying these transactions, if EPMI will emerge with trades with the substituted counterparty, EPMI needs to have a modernized master trading agreement with such party -- and sometimes the prospect of completing this type of transaction is incentive for a counterparty to modernize its paper/do an EEI with us.  I found also that the assigned confirmations needed to be reviewed closely to make sure that what EPMI stepped into was equivalent to what was being terminated; the confirmations themselves were sometimes amended as part of the transaction to make them conform to what EPMI insists upon as to product definitions, etc.  Please feel free to come back to me with any questions you may have.  -David  

    

 (different date -- may not match up exactly with the 6-5-01 draft agreement above.)