alleghney update louise instead sending us 1 paragraph extension letter wed night allegheny sent one sided 4 pager yesterday afternoon tone letter inappropriate las vegas agreeing default aesc kind enough give us chance also business points overeaching vague team turned draft last night clarify business points tone comments legal commercial litigation finance finance credit orig parquet spoke dan gordon share major comments gordon non commital said sounds like pretty close basic deal put letter aesc believes terminate lvcii believes complied tolling agreement parties work 5 business days execute pledge agreement security agreement deed trust subordination non disturbance agreement aesc gets subordinated lien ground lease ground lease non disturbance provisions lvci break lease lvcii aesc gets subordinated lien lm 6000 transformer contracts natwest loan agreement gets prepaid aesc acknowledges lvcii compliance security provisions tolling agreement complete increase collateral threshold 50 mm parties master power agreement additional margin calls made prior december 31 2001 16 mm margin call made july 31 withdrawn aesc keeps 160 mm l c place cover existing exposure enron corp guarantess epmi 60 mm waiting hear back allegheny plan teams legal commercial conf call review document today dash circulated group comment finalized today parquet reviewing previous comments security agreements prepared dig inot next 5 business days get letter executed finance preparing necessary documentation execute plan parquet office obviously available discuss 415 782 7820 around participate next meeting scheduled regards chris