This is the content of an email: Hey Darren, I haven't forgotten that I still owe you a birthday beer. In fact, Ted was kind enough to point out my failure to do so and add to my already heavy feelings of guilt. Anyway, I know you guys are working hard getting your presentation ready, but if you need a break I'm planning on meeting a friend at Kenneally's tonight for a little pizza and beer. Let me know if you have any interest in collecting...if not, you can just hold on to your raincheck until another time. Susan

Subject: Raincheck

This is the content of an email: Nothing fatal. Here are some thoughts/comments on the AMA for your general consideration: 2.2 (d) Bank accounts/bookkeeping. I've previously been advised that Corp performs this function. Issues which arise: will the money be invested overnight, who has signature authority, etc. We have a draft services agreement prepared for Peoples which can serve as a "go by" if you decide you need a separate doc. 2.2 (b)Billing/collection. Responsibility generally should stop at sending nastygrams. No duty to hire lawyers, etc. 2.2 (f) Insurance. In Texas, you have to have licenses to buy/sell insurance and adjust claims. Current language may be soft enough to not violate licensing laws. 2.2 (g) cost of filing for licenses and permits not included in defn of Marketing Expenses, but there's some catch all language that might help. 2.3 Accountants may like it to be clear that we can't hire/fire O & M contractor, set O & M policies, or dispatch plant. 3.2 If there are multiple transactions in a short period, these may be captured in one document, not one document for each transaction. It would be helpful if the EEIM for use with others explains our agency role. (may be in there - didn't review a copy) Is the Owner a power marketer yet? Are we helping them get EEIM's with the Approved Counterparties, or are they on their own? Will Enron sign on behalf of Owner for Contractor (Enron) transactions (sounds silly)? Is there an EEIM in the works between EPMI and Owner? 3.3 (f) I suspect by now you've figured out profits, etc, relating to "day of" transactions. 3.4 last line - should it be interruptible instead of contingent? Assume Owner has transmission risk? Is there a "no third party beneficiary" clause? I might have missed it. Not life or death. Interesting structure. Could I get a copy of the final document? Thanks,

Subject: to read or not read, that is the question

This is the content of an email: Dear Citizens' Assistance Division: I live in the Houston Heights on the 800 block of Cortlandt. For the 3 years I've lived there, the drainage ditch in front of my house, and several other houses on my street, have been blocked. Any time it rains, we have standing water for several days afterwards. I know that other streets in the Heights have the same problem. I have heard that because of the mild winter we're having, we can expect a bumper crop of mosquitos this summer. Standing water therefore poses a health concern for residents of the Heights this summer. Does the City have any current plans to fix the drainage problem in the Heights? Last year I called and requested that the ditch in front of my house be cleared, but got no response. I hope that this was merely an oversight rather than an indication that the City of Houston has no regard for the health and comfort of its citizens. Any information you can provide would be appreciated. Sincerely,

Subject: Heights question

This is the content of an email: As a point in clarification, in Section 2(a) of the Master Netting Agreement the parenthetical "(including automatic termination, if applicable)" should be deleted. Here are the new forms with the deletion made in them. Since the form is amending the underlyings to not include automatic termination, the parenthetical should no longer be included. Further, see the attached once again revised process (hopefully this will be the last revision for a time!). Changes are in bold and deal with the gas receivables financing and credit sign-off. To the extent a counterparty will agree to a 25th of the month effective date, do so, as it fits our physical gas billing cycle and makes it easier to pull out the receivable from the gas receivable financing.
Subject: Revision to Master Netting Forms