RE: 3-WAY CONFIRM TEMPLATE.doc ,
 Hey!  What are you doing sending this message instead of tuning in our our =
exciting meeting?----cgy
-----Original Message-----
From: Sager, Elizabeth=20
Sent: Thursday, November 01, 2001 1:05 PM
To: Hall, Steve C. (Legal); Yoder, Christian; Portz, David; Murphy, Harlan;=
 Nettelton, Marcus; Bradford, William S.; Ngo, Tracy; Sacks, Edward
Cc: Cook, Mary; Murphy, Melissa Ann
Subject: FW: 3-WAY CONFIRM TEMPLATE.doc


=20
The following is language to be added into the confirmations produced for t=
he "Ring-Fenced Trade", also known as a "Three Way Reducing Trade"  In this=
 trade, the three parties involved each buy and sell power at below market =
rates. Attached is schematic of the trade.  Call with any questions.
=20
=20
=20
Elizabeth Sager=20
713-853-6349=20
-----Original Message-----
From: Taylor, Mark E (Legal)=20
Sent: Thursday, November 01, 2001 1:26 PM
To: Sager, Elizabeth
Subject: FW: 3-WAY CONFIRM TEMPLATE.doc


=20
-----Original Message-----
From: Taylor, Mark E (Legal)=20
Sent: Wednesday, October 31, 2001 10:56 AM
To: Bradford, William S.
Subject: 3-WAY CONFIRM TEMPLATE.doc


Each of the parties to this Agreement recognizes and acknowledges that the =
parties are acting and agreeing to perform their obligations hereunder in r=
eliance upon (i) the timely execution and delivery by [legal name of other =
counterparty] ("Third Party") and Party A of a transaction in substantially=
 the form attached hereto as Exhibit A ("Third Party Transaction A") and wo=
uld not otherwise agree to execute, deliver and perform under this Agreemen=
t if Third Party and Party A were not contemporaneously executing and deliv=
ering Third Party Transaction A and (ii) the timely execution and delivery =
by Third Party and Party B of a transaction in substantially the form attac=
hed hereto as Exhibit B ("Third party Transaction B") and would not otherwi=
se agree to execute, deliver and perform under this Agreement if Third Part=
y and Party B were not contemporaneously executing and delivering Third par=
ty Transaction B.  The effectiveness of this Agreement shall be subject to =
the condition that contemporaneously with the execution and delivery of thi=
s Agreement Party A and Third Party execute and deliver Third Party Transac=
tion A and Party B and Third Party execute and deliver Third Party Transact=
ion B.
elizabeth.sager@enron.com