The Jolly Contrarian

Template:Nutshell EUA Annex (d)(ii)(1): Difference between revisions

Template Discussion

Template:Nutshell EUA Annex (d)(ii)(1) (view source)

Revision as of 14:35, 11 July 2022

970 bytes removed ,  11 July 2022
no edit summary
No edit summary
No edit summary
Line 7: Line 7:
::(Y) {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} on the {{euaprov|Payment Date}} (determined as above) interest on the number of {{euaprov|Allowances}} due but not delivered on the {{euaprov|Delivery Date}} multiplied by the {{euaprov|Allowance Purchase Price}} (for an {{euaprov|Allowance Forward Transaction}}) or the {{euaprov|Allowance Strike Price}} (for an {{euaprov|Allowance Option Transaction}}) from the original {{euaprov|Delivery Date}} to the actual delivery date at the {{euaprov|Default Rate}}.<br>
::(Y) {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} on the {{euaprov|Payment Date}} (determined as above) interest on the number of {{euaprov|Allowances}} due but not delivered on the {{euaprov|Delivery Date}} multiplied by the {{euaprov|Allowance Purchase Price}} (for an {{euaprov|Allowance Forward Transaction}}) or the {{euaprov|Allowance Strike Price}} (for an {{euaprov|Allowance Option Transaction}}) from the original {{euaprov|Delivery Date}} to the actual delivery date at the {{euaprov|Default Rate}}.<br>
:(B) '''{{euaprov|Failure to Deliver Not Remedied}}''': If the failure is not so remedied:<br>
:(B) '''{{euaprov|Failure to Deliver Not Remedied}}''': If the failure is not so remedied:<br>
::(X) if “{{euaprov|Excess Emissions Penalty}}” does not apply, or if it does, but the {{euaprov|Delivery Date}} does not fall within the specified {{euaprov|EEP Risk Period}}, {{euaprov|Receiving Party}} may by notice terminate the parties’ obligations under “{{euaprov|Physical Settlement}}” and {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} {{euaprov|Receiving Party’s Replacement Cost}} (if positive) on the next {{euaprov|Business Day}}, adjusted to take into account any amount previously paid (which, for the avoidance of doubt, shall not include any Premium paid by the Buyer in respect of an {{euaprov|Allowance Option Transaction}}) by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} in respect of the relevant {{euaprov|EU Emissions Allowance Transaction}}; or
::(X) if “{{euaprov|Excess Emissions Penalty}}” does not apply, or if it does, but the {{euaprov|Delivery Date}} does not fall within the specified {{euaprov|EEP Risk Period}}, {{euaprov|Receiving Party}} may by notice terminate the parties’ obligations under “{{euaprov|Physical Settlement}}” and {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} {{euaprov|Receiving Party’s Replacement Cost}} (if positive) on the next {{euaprov|Business Day}}, adjusted for any amounts already previously paid by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} (other than {{euaprov|Premium}} on an {{euaprov|Allowance Option Transaction}}) under the {{euaprov|EU Emissions Allowance Transaction}}; or
::(Y) if “{{euaprov|Excess Emissions Penalty}}” is specified to be applicable in the Annex to this Part [7] or the Confirmation for the relevant {{euaprov|EU Emissions Allowance Transaction}} and, if an {{euaprov|EEP Risk Period}} is specified in the Confirmation for the relevant {{euaprov|EU Emissions Allowance Transaction}}, the {{euaprov|Delivery Date}} falls within that {{euaprov|EEP Risk Period}} for the relevant {{euaprov|EU Emissions Allowance Transaction}}, {{euaprov|Receiving Party}} may, by written notice to {{euaprov|Delivering Party}}, terminate the parties’ obligations under “Physical Settlement” above and {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} an amount determined in accordance with paragraph (2) of {{euaprov|Receiving Party’s Replacement Cost}} (if a positive number) on the first Business Day following the day on which {{euaprov|Receiving Party}} is able to effect a {{euaprov|Buy-In}} (which may be a {{euaprov|Buy-In}}, on any such date, of less than the entire number of {{euaprov|Undelivered Allowances}}) if and to the extent that paragraphs (2)(A)(I) or (2)(A)(II)(X) of {{euaprov|Receiving Party’s Replacement Cost}} apply, or the first Business Day following the day on which {{euaprov|Receiving Party}} is able to effect a purchase of {{euaprov|Allowances}} in accordance with paragraph (2)(A)(II)(Y) of {{euaprov|Receiving Party’s Replacement Cost}}, if and to the extent that paragraph applies, in either case adjusted to take into account any amount previously paid (which, [[for the avoidance of doubt]], shall not include any Premium paid by the Buyer in respect of an {{euaprov|Allowance Option Transaction}}) by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} in respect of the {{euaprov|EU Emissions Allowance Transaction}}; or
::(Y) if “{{euaprov|Excess Emissions Penalty}}” applies and the {{euaprov|Delivery Date}} falls within any specified {{euaprov|EEP Risk Period}}, {{euaprov|Receiving Party}} may by notice terminate the parties’ obligations under “{{euaprov|Physical Settlement}}” and {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} {{euaprov|Receiving Party’s Replacement Cost}} (if positivem, and where it applies) on the Business Day following the day on which {{euaprov|Receiving Party}} can effect a {{euaprov|Buy-In}}, or the first Business Day following the day on which {{euaprov|Receiving Party}} is can purchase {{euaprov|Allowances}} under paragraph (2)(A)(II)(Y) of {{euaprov|Receiving Party’s Replacement Cost}}, if and to the extent that paragraph applies, in either case adjusted to take into account any amount previously paid (other that any {{euaprov|Premium}} on an {{euaprov|Allowance Option Transaction}}); or
::(Z) if “Failure to Deliver (Alternative Method)” is specified to be applicable in the Annex to this Part [7] or the {{euaprov|Confirmation}} for the relevant {{euaprov|EU Emissions Allowance Transaction}}:
::(Z) if “Failure to Deliver (Alternative Method)” is specified to be applicable in the Annex to this Part [7] or the {{euaprov|Confirmation}} for the relevant {{euaprov|EU Emissions Allowance Transaction}}:
:::(aa) {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}}, on the first succeeding Business Day, an amount determined in accordance with paragraph (3) of {{euaprov|Receiving Party’s Replacement Cost}} (if a positive number), adjusted to take into account any amount previously paid (which, for the avoidance of doubt, shall not include any Premium paid by the Buyer in respect of an {{euaprov|Allowance Option Transaction}}) by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} in respect of the relevant {{euaprov|EU Emissions Allowance Transaction}}, and upon payment of such amount, Delivering Party’s obligation to deliver to {{euaprov|Receiving Party}} the {{euaprov|Allowances to be Delivered}} shall be fully discharged and terminated; and
:::(aa) {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}}, on the first succeeding Business Day, an amount determined in accordance with paragraph (3) of {{euaprov|Receiving Party’s Replacement Cost}} (if a positive number), adjusted to take into account any amount previously paid (which, for the avoidance of doubt, shall not include any Premium paid by the Buyer in respect of an {{euaprov|Allowance Option Transaction}}) by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} in respect of the relevant {{euaprov|EU Emissions Allowance Transaction}}, and upon payment of such amount, Delivering Party’s obligation to deliver to {{euaprov|Receiving Party}} the {{euaprov|Allowances to be Delivered}} shall be fully discharged and terminated; and
:::(bb) if “{{euaprov|Excess Emissions Penalty}}” is specified to be applicable in the Annex to this Part [7] or the Confirmation for the relevant {{euaprov|EU Emissions Allowance Transaction}}, {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} the amount, if any, determined in accordance with the provisions of Part [7] (d)(xi)(Failure to Deliver (Alternative Method) – EEP Applicable) below on the date determined in accordance with those provisions. <br>
:::(bb) if “{{euaprov|Excess Emissions Penalty}}” is specified to be applicable in the Annex to this Part [7] or the Confirmation for the relevant {{euaprov|EU Emissions Allowance Transaction}}, {{euaprov|Delivering Party}} must pay {{euaprov|Receiving Party}} the amount, if any, determined in accordance with the provisions of Part [7] (d)(xi)(Failure to Deliver (Alternative Method) – EEP Applicable) below on the date determined in accordance with those provisions. <br>
Retrieved from "https://jollycontrarian.com/index.php?title=Special:MobileDiff/66075"