Please reassign this file this morning and ask the responsible paralegal to 
bring the file in my office to discuss.  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 11/02/2000 08:34 AM -----

	Tanya Rohauer
	11/02/2000 07:36 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: 
		 Subject: Consolidated Papers

Sara,

The desk has transacted two five year swaptions.  Do you recall where we were 
on the ISDA?  Negotiations had cooled significantly in light of the 
structured Skeena deal dying; however, now may be a good tome to resurrect.  
I have made the ISDA a condition precedent to exercise of the swaption.  I 
seem to recall the open issue was the definitions for the financial covenants 
of the MAC clause (cross border lease, etc.). I seem to recall that they 
didn't provide us with some of the definitions within the definitions.  I 
will pull my file to see if I can determine where we are.  Please let me know 
what your file indicates.

Thanks.
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