Message-ID: <7070406.1075840844091.JavaMail.evans@thyme>
Date: Wed, 7 Nov 2001 04:01:09 -0800 (PST)
From: london.brown@enron.com
To: raymond.bowen@enron.com, louise.kitchen@enron.com, mary.perkins@enron.com
Subject: Entergy- koch
Cc: john.sherriff@enron.com, ted.murphy@enron.com, treasa.kirby@enron.com
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X-From: Brown, Michael - COO London </O=ENRON/OU=EU/CN=RECIPIENTS/CN=MBROWN3>
X-To: Bowen Jr., Raymond </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RBOWEN>, Kitchen, Louise </O=ENRON/OU=NA/CN=RECIPIENTS/CN=LKITCHEN>, Perkins, Mary </O=ENRON/OU=NA/CN=RECIPIENTS/CN=MPERKIN>
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Guys , I have just been told that pursuant to the terms of our agreement with Entergy - Koch we are obliged to provide them with a letter of credit ( to replace an existing one which expires ) for ?20m today ( by midnight ) or we will be in default - giving them the right to close out . I understand that it is not possible to provide an LC so we will need to cash collateralise them . We will either need to give them $ today or ? tommorrow ( when we will technically be in default , but they seem to be fairly relaxed ) . Can you let me know how you would prefer to manage this ASAP . Louise / Ray , John or I will give you a call when you get in .
Thanks
Michael