Template:EUA Annex (d)(xi): Difference between revisions

If “'''{{euaprov|Failure to Deliver (Alternative Method)}}'''” and “'''{{euaprov|EEP}}'''” are specified to be applicable in the Annex to this Part or the {{euaprov|Confirmation}} for the relevant {{euaprov|EU Emissions Allowance Transaction}}, then, with regard to that {{euaprov|EU Emissions Allowance Transaction}}, in the event that {{euaprov|Receiving Party}} incurs an {{euaprov|Excess Emissions Penalty}} directly caused by {{euaprov|Delivering Party}}’s failure to deliver the {{euaprov|Allowances to be Delivered}} on a {{euaprov|Delivery Date}} falling within the {{euaprov|EEP Risk Period}} other than as a result of the failure of {{euaprov|Receiving Party}} to comply with the {{euaprov|Requirements under the Scheme}} as specified above, the existence of an {{isdaprov|Illegality}}, the existence of a {{euaprov|Settlement Disruption Event}} or the existence of a {{euaprov|Suspension Event}} (the “'''{{euaprov|EEP Non-delivery}}'''” and the amount of such {{euaprov|Excess Emissions Penalty}} so caused, the “'''{{euaprov|Indemnifiable EEP}}'''”), then {{euaprov|Delivering Party}} shall pay to {{euaprov|Receiving Party}}, in addition to the {{euaprov|Receiving Party’s Replacement Cost}} (if any), an amount equal to the amount of the  {{euaprov|Indemnifiable EEP}} paid by {{euaprov|Receiving Party}} (the “{{euaprov|EEP Payment}}”), provided that such {{euaprov|EEP Payment}} shall not exceed the product of the {{euaprov|RPRC Shortfall}} for that {{euaprov|EU Emissions Allowance Transaction}} and the maximum per Allowance rate of {{euaprov|Excess Emissions Penalty}} applicable at the relevant time. <br>

Once the amount of the {{euaprov|EEP Payment}} is agreed or any dispute in relation thereto resolved, {{euaprov|Delivering Party}} shall pay such determined {{euaprov|EEP Payment}} to {{euaprov|Receiving Party}} within two (2) Business Days against {{euaprov|Receiving Party}}’s {{euaprov|VAT Invoice}} in respect thereof.  

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