I have revised the option form consistent (except where noted) with comments sent by Herman and Lisa, and have attached a redline version. Herman, I dealt with your comment regarding the defn of Optionee by tinkering a little with the 1st paragraph. I also construed your comment regarding Enron's right to terminate the option to NOT preclude termination if our counterparty is in default. Please confirm that this is acceptable. Lisa, I did not change the notice info since the first entity will the the project co, with ENA Legal receiving a copy. Please advise if you have any comments. Kay
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Rev option form