The Intergen LOC should be in CAED I and CAED II's names, issued after 
closing on the 18th.

The PSCO deal team should handle the PSCO LOC, which should be in the name of 
the PSCO project company, I think, after that deal closes this week.  Al 
Larsen and Sheila Tweed can address these.

Hope this helps.

Kay




   
	
	
	From:  Rebecca Walker                           01/16/2001 10:48 AM
	

To: Kay Mann/Corp/Enron@Enron
cc: Fred Mitro/HOU/ECT@ECT 

Subject: Letter of Credit from GE for LM6000s

Kay

In the letters of credit from GE for the PSCO and Intergen turbines, it 
states that the beneficiary must countersign the three documents within 30 
days of 1/10/01.  The beneficiary is listed as:

E-Next Generation, L.L.C.
1400 Smith Street
Houston, TX 77002.  

Does this mean that  the documents need to be signed by someone from ENA and 
then forwarded to E-Next Generation or just sent straight to E-Next 
Generation?  Also, does anything else need to be done to "activate" the 
Letter of Credit?  It appears from the documents that nothing else would need 
to be done unless it were necessary to draw on the account for some reason.  

Please advise on who needs to sign the three documents and if any other steps 
need to be taken in regards to them.

Thanks,
Rebecca    
---------------------- Forwarded by Rebecca Walker/NA/Enron on 01/16/2001 
10:32 AM ---------------------------
   
	
	
	From:  Ben F Jacoby @ ECT                           01/12/2001 02:08 PM
	

Sent by: Ben Jacoby@ECT
To: Fred Mitro/HOU/ECT@ECT, Rebecca Walker/NA/Enron@Enron
cc:  

Subject: Letter of Credit from GE for LM6000s

Fred / Rebecca:

Please follow up on this with Kay. Thanks.

Ben
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 01/12/2001 01:01 PM 
---------------------------
From: Catherine Clark/ENRON@enronXgate on 01/11/2001 07:24 PM
To: Ben Jacoby/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Kay 
Mann/Corp/Enron@Enron
cc: Roseann Engeldorf/Corp/Enron@ENRON, Lisa Bills/ENRON@enronXgate 
Subject: Letter of Credit from GE for LM6000s

The accounting group received a set of 3 faxes from GE with information on 
Letters of Credit issued by GE with E-Next Generation as the beneficiary.  
These documents need to be countersigned and I don't know if anything else is 
required to "activate" the LOCs.  I'll fax copies to you all.
The documents are:
LOC 1: $4,289,200  (for the 6 Fountain Valley turbines, since the amount is 
5% of the total turbine cost)
LOC 2: $717,600  (for Intergen turbine 1)
LOC 3: $717,600 (for Intergen turbine 2)

This is in accordance with the LM6000 purchase agreement (Section 6.1.3) 
where GE must provide Retention Letters of Credit (the Retention Amount is 5% 
of the purchase price) when E-Next Generation pays GE the final progress 
payment (this final payment is scheduled to go out on 1/16/01).

The LOC docs need to be counter-signed within 30 days and then forwarded to 
the E-Next Generation, since they are the beneficiary. 

-Catherine
x3-9943