From: janice.moore@enron.com
To: rhonda.denton@enron.com, tracy.ngo@enron.com, sara.shackleton@enron.com
Date: 2001-03-19 20:08:00+00:00
Subject: Merrill/Allegheny deal Pre/post transfer invoicing

Here we go again.  I guess it hasn't dawned on them that if we do separate 
invoicing for March, we'll still have M-L credit risk until the invoice is 
paid in April, so we're not going to be interested in letting go of their 
collateral.........   What do we usually do w/ this?  Do we need to talk to 
someone in Settlements?  Please let me know so we can work out this detail 
for them.............
Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)
----- Forwarded by Janice R Moore/HOU/ECT on 03/19/2001 08:05 PM -----

	TeiglandL@sullcrom.com
	03/19/2001 07:39 PM
		 
		 To: Janice.R.Moore@enron.com
		 cc: GilbergD@sullcrom.com
		 Subject: Pre/post transfer invoicing


Janice, one final (we hope) point to think about from Yair.  He is concerned 
about how invoicing will be done for the month of March by Enron with respect 
to the "Transactions".  Would it be operationally possible for Enron to 
invoice MLCS for obligations incurred prior to the transfer date, and 
Allegheny for the post-transfer?  If not, we need to figure out how a single 
monthly invoice w/ pre- and post- transfer obligations will get paid and 
address it in the Transfer Agrt.  Any thoughts you have on this would be 
helpful.

-----Original Message-----
From: <Janice.R.Moore@enron.com>
Sent: Monday, March 19, 2001 3:16 PM
To: Teigland, Lauren
Cc: Sara.Shackleton@enron.com; Tracy.Ngo@enron.com;
yyaish@exchange.ml.com
Subject: Re: Power Master - blacklined


Just got all these docs to print -- at last.  Are we really going to close
this puppy today?
The physical power master amendment is ok , but I think we really ought to
refer to the FERC Order (see below for wording), and we need quotes around
the text of the definition amendments in para. 2(v).
I still can't understand why Global is part of the 2d para. as one of the
parties that "agree as follows" or on the signature page -- look at the
first full para. on page 3 -- there, it's just Supply and EPMI.  And, after
all, this really is just Allegheny Energy Supply's master -- at least for
now.
To add a reference to FERC Order, just add the following to the end of the
second sentence in the second para. on page 1, so it reads: " ...  (the
"Transfer Agreement"), as approved by the Federal Energy Regulatory
Commission March 14, 2001 Order issued in connection with Global's
acquisition of the MLCS energy trading business."
Thanks, Lauren.
Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)



                                                        TeiglandL@sul

             lcrom.com            To:     Janice.R.Moore@enron.com
                                                                      cc:

      03/19/2001           Subject:     Power Master - blacklined
                                          01:36 PM











Here is a blackline showing our recent changes.  Note the spacing nit which
I have fixed in 2(i) (Yair caught this one when I cc'd him on the execution
copy earlier).  If you are OK w/ this, I will re-send you a clean copy.





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(See attached file: Allegheny  ENRON Physical Master amendment(vRED).DOC)



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