page 103: The ability of a holder of the Plan Secured Notes to foreclose on the collateral securing
the Plan Secured Notes (as described herein) may be subject to prior approval by FERC, state
utility commissions, the consent of third parties, priority issues and practical problems associated
with the realization of such holder’s security interest in the collateral, including cure rights,
foreclosing on the collateral within the time periods permitted by third parties or prescribed by
laws, statutory rights of redemption, and the effect of the order of foreclosure. The approvals by
governmental entities and consents of any third parties may not be given when required to
facilitate a foreclosure on such assets. Accordingly, you may not have the ability to foreclose
upon the facilities or assume or transfer the right to operate the facilities.
Foreclosure on the collateral may not be sufficient to acquire all facility assets necessary
for operations or to make all payments on the Plan Secured Notes. The Company’s business is
subject to substantial regulations and permitting requirements and may be adversely affected if
the Company is unable to comply with existing regulations or requirements or changes in
applicable regulations or requirements. In the event of foreclosure, the transfer of such permits
may require the Company to incur significant cost and expense. Further, the Plan Proponents
cannot assure you that the applicable governmental authorities will consent to the transfer of all
such permits.
......................from page 103--- i'm no lawyer but i don't think FERC, the PSC or the ISO will let them operate without any employees....i don't know what will happen but I know that as long as the plants are operational...we'll be there.......lets let the lawyers finish pushing the paper before everyone gets all crazed up. They can propose all the bullshit they want...if it ain't legal they ain't doin SHIT!