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Mark, Attached are rough drafts of the following documents for the noted projects: Bay Gas Storage 1. Draft CSA 2. Draft Lease Agreement 3. Draft O&M Agreement Oakhill 1. Draft CSA 2. Draft O&M Agreement for Hanover to provide maintenance. Please note that these are really rough based on the limited information available at this time. I did not provide a lease agreement for Oakhill as you indicated Hanover would finance/lease the Electric Motor Drivers to ECS. If Hanover is providing a straight lease, the lease for Bay Gas could be used. If Hanover is providing a purchase option, the lease agreement would need to be modified for the purchase option. My suggestion is to provide these forms to the customer with the caveat that as the commercial terms are fine tuned, these drafts will be modified. But this gives them the basic idea. In my absence please contact Barbara for coordination of legal support in the event you cannot wait until I return. Thanks.

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OUT: Discussion Drafts for Oakhill and Bay Gas
QUESTION: Attached is the agenda as well as the documentation for the TX SET meeting on 2/12 at the Comfort Suites (directly across the parking lot from the ERCOT MET Center). The meeting will begin promptly at 9:30 AM and will adjourn at 4:00 PM - we have an extremely robust agenda so plan your travel accordingly. Please RSVP by COB Friday (2/8), to Christine Meloro (cmeloro@newpower.com) as well as Terri Waggoner (twaggoner@ercot.com). Hope to see you all next Tuesday! Thanks,
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ANS: TX SET Agenda - Meeting 2/12
I've gone back through the ISDA Credit Support Annex and the "green book" and my conclusion is that unless we modify the standard form, we have to give an Independent Amount back to the counterparty when we go out of the money far enough (note that the definition of Exposure results in a negative number when we are out of the money reducing the Credit Support Amount below the Independent Amount). The theory there is that as the market moves against us, we are cushioned by our "out-of-the-moneyness" and will be able to ask for support as the market moves back in our favor before we are actually in the money. I'm afraid that Credit has been operating under the assumption that we get to keep Independent Amounts until the Transaction terminates. We need to set up a system with Credit so we all know what is meant on the credit work sheets -- i.e. whether a cushion or up-front amount should be
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answer: Independent Amounts
Hydro Quebec has forwarded to us their form of ISDA Schedule for the referenced counterparty for review. There is no indication of what Enron business person is interested in this counterparty. I will forward a copy of the ISDA to Mr. "Canada" Suttle, and open a Lotus Notes entry with the contact information. We won't do anything until we receive a credit worksheet from Credit.
Answer: H.Q. Energy Services (U.S.) Inc. ISDA Master
Here is an email: Detailed alerts from PG&E, SCE and SDG&E will now be available via EDIS. Update your subscription settings at www.incident.com. This reminder sent to EDIS-by-Email subscribers only. To unsubscribe, use the form at www.incident.com.
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A: [EDIS] Update for holden.salisbury@enron.com
QUESTION: Laurie, Thanks for your call. Attached is a redline version incorporating ENA and Cabot's revisions. Please give me a call after you have had a chance to review same. Regards,
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Agreement