email_body: Rod: The following are the credit issues that they raised in their comments:  1.
  Cross default threshold - instead of $100,000,000 they want a 3% of equity  test.
  2. Credit Event Upon Merger - they want to delete the amendment language in  our Schedule  3.
  MAC Trigger - this currently is an Event of Default.
  They want to make it  a Termination Event.
  Also, they want to add to the trigger going below a  Baa3 rating by Moody's.
  4.
  In the financial reporting section, they want to add on our side a  requirement that we deliver to them any financial or business report that we  make available to our shareholders or that we file with the SEC or bank  regulatory authorities  5.
  In the Netting language, they have excluded FX and Currency Option  transactions.
  6.
  In the setoff language, they have limited the trigger to the designation  of an Early Termination date because of the Termination Event Credit Event  Upon Merger.
  Alos, they want setoff to apply to "matured and unmatured"  obligations.
  7.
  They don't want a cap on the Enron Guaranty  8.
  In the Termination section where we specify Loss and Second method that  have an interesting rider (insert 2) that modifies how the Second Method  works.
  I'm still trying to understand what this language does but it appears  to qualify any payments on termination that the Non-Defaulting Party would  have to make to the Defaulting Party.
  I will send you a copy of their comments and hopefully we will talk to them  about this next week.
  carol
  
subject_line: Dresdner Bank Credit Issues
  