Adele: Here are my thoughts on the latest drafts of the ISDA and CSA Schedules that  you sent to me:  1.
In Part 1, Section (e) of the ISDA Schedule, right after the definition of  PSE&G Reorganization Transaction you need to delete "S&P".
I also need to  see what you are planning to put on Annex C.  2.
I am checking with my credit person regarding the language that you added  to Part 5, Section (h) - Transfer.
3.
In the CSA, I thought that both threshold amounts were to be at  $7,500,000.
In addition, in the proviso after threshold, the term "Specified  Condition" should be changed to "Material Adverse Change".
A Mac would be  triggered if Credit Ratings were below BBB-.
4.
In Paragraph 13, Section (e), if the only types of collateral are cash or  LC's why is consent required to substitute?
5.
I would like to discuss with you our proposed Insert 4 to Paragraph 13,  Section (h)(iii).
6.
In Paragraph 13, Section (j)(ii)(2), why was the last sentence deleted?
7.
I need to discuss with you just a few issues on the LC provisions.
I will  send you a mark-up with my thoughts and questions.
Hopefully we can get this resolved next week.
Tuesday through Thursday of  next week work best for me.
I will fax to you a mark-up with my nits and  comments on the lC language.
Carol

Comments to Latest Drafts
