In the interest of time, I have revised our draft ISDA Schedule to conform in  most material respects to the 1994 (effective 1992) agreement executed  between ERMS and Merrill Lynch Capital Services, Inc. ("Old ISDA").
This was  done to accommadate the Merrill lawyer, Gary Rosenblum (who didn't want to  read our Schedule!).
The Old ISDA is not identical to the format used by  Merrill Lynch International today so I'm not sure how hard they will press  for other changes.
There are two potential credit issues that I see:  (1)   agreement as to the Enron Corp. guaranty cap (and possible Merrill Lynch  guaranty cap) and (2) our introduction of a MAC provision in the form of an  Additional Event of Default (necessary because the Old ISDA had a Credit  Support Annex and this one does not).
I left a voice mail for Gary Rosenblum  and asked that he let me know when he was available on Monday to talk AND to  have his credit person contact Rod Nelson.
Sara  P.S.
I haven't heard from Morgan Guaranty Trust Company or Morgan Stanley  Capital Services, Inc.

Merrill Lynch International