|
|
Enron Mail |
Hi Carol,
I spoke to Ginette Berthel at Maclaren Energy, regarding your e-mail. Regarding point #2 below, Maclaren would like its cross default threshold amount to be US $50 million. They are fine with the Enron threshold being at US $100 million. Regarding the CSA, since Great Lakes Power is giving a $12 million parental guarantee, the collateral threshold amount for Maclaren should be $12 million. Your e-mail below states that Enron' parent will be giving a $30 million parental guarantee. My understanding is that this guarantee was to be $15 million. Regardless, I believe that Maclaren is only willing to accept $15 million of credit risk from both Enron entities. Therefore, the threshold amount should be $15 million. Please e-mail or call me to discuss. Regards, Michael Akkawi 416-865-8122 -----Original Message----- From: Carol.St.Clair@enron.com [mailto:Carol.St.Clair@enron.com] Sent: Tuesday, May 01, 2001 1:55 PM To: makkawi@torys.com Cc: Stephanie.Panus@enron.com; Edward.Sacks@enron.com Subject: Maclaren ISDA Michael: I spoke with Ed Sacks, our credit person, and here is a summary of where we stand on responding to your mark-up: 1. Rider 1 is okay. 2. No change will be made to the Threshold Amount. 3. Early Termination Payments will be calculated using the Loss Method as this is Enron's current policy. 4. Riders 2, 3 and 4 and your changes to pages 2 and 9 of the ISDA Schedule are okay. No chnages to the CSA Schedule will be made. With respect to the Guarantys, we have received the Great Lakes $12 million Guaranty and Enron's Guaranty will be amended to increase the cap to $30 million and we will add your language. Please confirm that all of this is okay with Maclaren. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com
|