IN: Angela: Will you be available? I was hoping that you can handle these deals with swap group assistance. Please feel free to call upon me at any time. Thanks. Sara

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OUT: Hawaii 125-0 Conference Call

IN: Good Morning! I just received a call from Cheryl. She was able to get a flight out and will be traveling today. If you need immediate assistance, please feel free to call. Thank you.

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OUT: Cheryl Nelson - update

IN: Greetings: This was reported on the news this morning. I'll see if I can retrieve anything off of our illustrious Governorn's web site. Any reports of it in Washington D.C. Thanks. Best,

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OUT: Davis Asks FERC for Price Caps (Again)---Govs from Oregon and Washington Sign On

IN: Steven : I have finally had a chance to go over the outstanding credit issues with Rod Nelson, our credit person, and here are his responses: 1. We cannot agree to the additional language in the cross-default provision. We need a trigger that is not subject to interpretation and second-guessing and the language that you proposed does just that. 2. On credit event upon merger, we would prefer to define the standard for "materially weaker" as below investment grade. Is that a problem for you? 3. With respect to payment netting, we would prefer that netting apply to Transactions that are of the same product line (i.e. all commodity swaps). Is that a problem for you? We thought that your operational issue had to do more with netting across product lines. 4. In the Credit Support Annex, we would prefer that the number of days to resolve disputes over exposure and/or value be 2 business days instead of 1. I am in the process of reviewing the new drafts of ISDA and CSA Schedules and will get back to you shortly on remaining comments. Carol

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OUT:
Credit Comments