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{| class="wikitable sortable" | {| class="wikitable sortable" | ||
|+ JC’s guide to Allowance | |+ JC’s guide to {{euaprov|Adjustment Event}}s in various {{euaprov|Allowance}} disruption scenarios | ||
|- | |- | ||
! Event !! What it is !! Who does what !! Who bears loss | ! Event !! What it is !! Who does what !! Who bears loss | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Abandonment of Scheme}} || EU gives up on Emissions Trading || Either party terminates on notice. Repay any prepaid | | {{euaprov|Abandonment of Scheme}} || EU gives up on Emissions Trading || Either party terminates on notice. Repay any prepaid Forward Purchase consideration or Option premia. || Walk away (I know, I know, it makes no sense. Don’t @ me folks) | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov| | | {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov|Reconciliation Deadline}} either party can designate {{euaprov|Illegality}}, terminate the trade and either pay the {{isdaprov|Close-out Amount}} or cancel and walk away. || Unless you specified {{euaprov|Payment on Termination for Settlement Disruption}}, just walk away. (Don’t @ me). | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Suspension Event}} || {{Registry}} suspends operating or there is an {{euaprov|Administrator Event}}. || {{euaprov|Receiving Party}} pays {{euaprov|Cost of Carry Amount}}.|| Note: {{euaprov|Suspension Event}}s trump {{euaprov|Settlement Disruption Event}}s. Unless you specified {{euaprov|Payment on Termination for Suspension}}, just walk away. (Don’t @ me). | | {{euaprov|Suspension Event}} || {{euaprov|Registry}} suspends operating or there is an {{euaprov|Administrator Event}}. || {{euaprov|Receiving Party}} pays {{euaprov|Cost of Carry Amount}}.|| Note: {{euaprov|Suspension Event}}s trump {{euaprov|Settlement Disruption Event}}s. Unless you specified {{euaprov|Payment on Termination for Suspension}}, just walk away. (Don’t @ me). | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Fungibility Event}} || {{euaprov|Phase 3}} {{euaprov|Allowances}} not exchangeable for {{euaprov|Phase 4}} Allowances or no longer | | {{euaprov|Fungibility Event}} || {{euaprov|Phase 3}} {{euaprov|Allowances}} not exchangeable for {{euaprov|Phase 4}} Allowances or no longer [[fungible]]. || Dunno but is isn’t a {{euaprov|Settlement Disruption Event}} || You will have to agree this among yourselves. | ||
|} | |} | ||
</small> | </small> |