FW: New Bank Accounts Needed for TPC and NNG

FYI

-----Original Message-----
From: Howard, Kevin A.
Sent: Thursday, November 15, 2001 5:46 PM
To: Hayslett, Rod
Subject: FW: New Bank Accounts Needed for TPC and NNG

fyi - this is reflected in the credit agreements. Just took Saunders and his team through deal - we are going to meet again next Monday to lay out the deal and the accounting treatment. He has a very good team.

-----Original Message-----
From: Winfrey, Travis
Sent: Thursday, November 15, 2001 5:11 PM
To: Garcia, Paul
Cc: Perkins, Mary; McSpadden, Carol; Boyle, Dan; Howard, Kevin A.; Mitchell, David
Subject: New Bank Accounts Needed for TPC and NNG

Paul,

I need two new bank accounts set up, one for Transwestern Pipeline Company and one for Northern Natural Gas Company. Per the Credit Agreements related to the $1 billion Pipeline Financing, Citibank and JP Morgan Chase have require us to set aside $10,000,000 in a Transwestern account and $30,000,000 in Northern Natural account. These amounts cannot ZBA up to Enron Corp. The banks require us to set aside these amounts (equal to one month of operating expenses) and have them available in accounts that are not swept to Enron Corp.

Let me know if I need to provide you with any further information.

Thanks,
Travis
5-8404