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Collateral Arrangements. Counterparty shall (at Enron=01,s request) either:= (i)=20 within one Business Day of such request by Enron, provide to Enron a letter= =20 of credit in respect of Counterparty's obligations under any Transaction, i= n=20 such form and for such amount and from such issuer, as is acceptable to Enr= on=20 in its absolute discretion; or (ii) within such period as is specified by= =20 Enron, provide for the benefit of Enron a parent company guarantee in such= =20 form and for such amount as is acceptable to Enron in its absolute=20 discretion. Failure so to provide such letter of credit or parent company= =20 guaranty shall constitute a default hereunder giving rise to the immediate= =20 right of termination by Enron under this GTC.

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