I am okay with this.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)



	"Eldredge, Jeff" <jeldredge@velaw.com>
	06/15/2000 10:05 AM
		 
		 To: "St. Clair, Carol (Enron)" <carol.st.clair@enron.com>
		 cc: "Evans, Mark (Enron)" <mevans@enron.co.uk>
		 Subject: Margaux Swap


 John Hancock is insisting that we resurrect the termination for
illegality provision from the Master and put it in the Swap assignment
agreement as an option for the Trust to terminate the Swap and trigger an
appraisal if there is an illegality event.  Does Enron have an institutional
problem with this if the commercial and legal people are comfortable with it
here in London?

Jeffrey E. Eldredge
Vinson & Elkins L.L.P.
Regis House
45 King William Street
London EC4R  9AN
Office Tel: (44-171) 618-6013
Fax: (44-171) 618-6001
Mobile Tel: (44) 0411 435 486