Jason, do you need to be involved in this one?  Let me know.   Marie, please assign this one to an attorney to assist London as needed.  Assign to Alan Aronowitz.
 -----Original Message-----
From: 	Schuh, Michael  
Sent:	Friday, November 02, 2001 8:45 AM
To:	Cook, Mary
Cc:	Cini, Pat
Subject:	Cross Affiliate Netting Agreement - RWE

Mary,

I am in Marcus von Bock?s group in Legal/London and together with Pat Cini (Credit/London) am negotiating a Netting Agreement for physical gas and power, as well as a Cross Affiliate Netting Agreement for physical and financial transactions with RWE Trading GmbH.

The Enron entities involved are 

Enron Capital & Trade Resources Limited
Enron Capital & Trade Resources International Corp
Enron Financial Energy Trading LLC

There are two issues:

We will have to prepare a board resolution with regard to the corporate benefit/appropriate consideration of the agreement to the various entities. For ECTRIC and EFET would you want to take a look at this ?

Pursuant to Section 8 (e) of the Cross Affiliate Netting Agreement (draft attached) we are making a representation regarding the non existence of any lien or other encumbrance on the rights to any amounts owed to us under the underlying agreements. Who would assist with a lien search regarding the US entities ?

 

We are looking to close these agreements by Monday or Tuesday.

Regards,

Michael