RE: Clorox comments to the ISDA Master Agreement and Credit Support

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X-From: Phillips, Rebecca </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RPHILLI<
X-To: Shackleton, Sara </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sshackl<
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Can we move the meeting on Wednesday to Thursday. I just found out I have an all day workshop.
r

-----Original Message-----
From: Shackleton, Sara
Sent: Monday, October 22, 2001 3:31 PM
To: Phillips, Rebecca
Cc: Cyprow, Jarrod; Bailey, Susan; Rohauer, Tanya
Subject: FW: Clorox comments to the ISDA Master Agreement and Credit
Support Annex

Rebecca:

Per our conversation, attached please find Clorox's blackline. You should have Aparna's file including the credit worksheet. Also, Aparna should have provided you wtih a copy of the ISDA boilerplate (let me know if you need this or anything else). The credit issues we should focus on include:

(1) request for cross acceleration [Part 1(b) page 1]
(2) Cross Default amendment for operational issues [Part 1(b) page 1]
(3) Credit Event Upon Merger: use of "materially weaker" definition [Part 1© pages 1-2]
(4) Additional Termination Events: use of rating downgrade Part 1(i) pages 2-3]
(5) Delivery of documents [see page 5 comments]
(6) elimination of "non-reliance" representation [pages 7-8]
(7) elimination of affiliate setoff [pages 8-9]
(8) Change to definiton of "Credit Support Amount" [Annex A page 1]
(9) complete change to Threshold and Independent Amount [Annex A pages 2-3]
(10) "Minimum Transfer Amount" from $0 to $500,000
(11) elimination of the MAC in Par. 13 to the Credit Support Annex [Annex A page 8]
(12) Enron Corp. guaranty: elimination of cap [see Enron Corp. guaranty]

I look forward to meeting with you on Wednesday.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490

-----Original Message-----
From: Bailey, Susan
Sent: Wednesday, October 17, 2001 2:56 PM
To: Shackleton, Sara
Cc: Cyprow, Jarrod
Subject: FW: Clorox comments

Sara,

Attached are Clorox's comments to our ISDA draft provided to them in April, 2001.

Jarrod Cyprow would like to schedule a meeting with you on Monday afternoon, October 22nd to discuss Clorox's comments.

Let me know if I may be of assistance.

Susan
-----Original Message-----
From: lori.pfaffmann@clorox.com [mailto:lori.pfaffmann@clorox.com]
Sent: Wednesday, October 17, 2001 12:28 PM
To: Bailey, Susan
Subject: Re: Clorox comments

Susan,
Please let me know if this works. It is a word document.
Lori(See attached file: Swap Agreement Comparison Document.DOC)

"Bailey, Susan" <Susan.Bailey@enron.com< on 10/17/2001 07:25:06 AM

To: <lori.pfaffmann@clorox.com<
cc:

Subject: Clorox comments

Lori,

Sorry for all the problems, but I am unable to open the attachment you
directed to Jarrod Cyprow. Could you please try me again.

I look forward to your comments.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com

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