Problem: BODY: As you are aware a "safety net" type of provision has been included in the master netting agreement to attempt to convert any underlying master agreement one way payment provision to a two way payment provision. However, this is only a safety net and should not be relied upon. It may not cover every particular definitional/form structure in an underlying master agreement. Please be sure to review the underlying master. It is probably always best to draft a contract specific amendment to convert to 2way payment since this is a critical issue to effect properly the closeout netting and setoff provisions of the master netting agreement. The specific amendment can be included in the master netting or accomplished as a separate amendment to the underlying master agreement. Any questions, call me.
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A: SUBJECT: READ: RE CONVERSION OF 1 WAY PAYMENTS TO TWO WAY PAYMENTS

Problem: BODY: Attached are EPMI's comments that I will deliver orally on Monday afternoon at the FERC. I am also attaching some backup slides, a listing of who will be on the two panels, the statement by Naeve on behalf of PGE, and statement Tabors on behalf of a TFG subset. I want to re-read Tabors one more time but I expect that will we sign on in support. Alan Comnes
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A: SUBJECT: West Wide Mitigation Technical Conference

Problem: BODY: Yes, I've received messages but have not heard from the right person. However, I want to clean up the transaction itself. Why is it a swaption? ss
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A:
SUBJECT: Catalytica