Template:UKA Annex (d)(iii): Difference between revisions

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{{euaprov|(d)(iii)}} '''{{euaprov|Partial Settlement}}''' <br>
{{ukaprov|(d)(iii)}} '''{{ukaprov|Partial Settlement}}''' <br>
If, on the {{euaprov|Delivery Date}}, {{euaprov|Delivering Party}} delivers to {{euaprov|Receiving Party}} fewer {{euaprov|Allowances}} than the {{euaprov|Allowances to be Delivered}} (such shortfall the “'''{{euaprov|Allowance Shortfall}}'''”), {{euaprov|Receiving Party}}’s obligation to pay pursuant to {{euaprov|Physical Settlement}} above shall be reduced by an amount equal to the {{euaprov|Allowance Shortfall}} multiplied by either the {{euaprov|Allowance Purchase Price}} (in respect of an {{euaprov|Allowance Forward Transaction}}) or the {{euaprov|Allowance Strike Price}} (in respect of an {{euaprov|Allowance Option Transaction}}), and the provisions of “{{euaprov|Failure to Deliver}}” above will apply in respect of the {{euaprov|Allowance Shortfall}} (with references to {{euaprov|Number of Allowances}} (in the case of an {{euaprov|Allowance Forward Transaction}}) and {{euaprov|Allowances to be Delivered}} (in the case of an {{euaprov|Allowance Option Transaction}}) being read as references to the {{euaprov|Allowance Shortfall}}). <br>
If, on the {{ukaprov|Delivery Date}}, {{ukaprov|Delivering Party}} delivers to {{ukaprov|Receiving Party}} fewer {{ukaprov|Allowances}} than the {{ukaprov|Allowances to be Delivered}} (such shortfall the “'''{{ukaprov|Allowance Shortfall}}'''”), {{ukaprov|Receiving Party}}’s obligation to pay pursuant to {{ukaprov|Physical Settlement}} above shall be reduced by an amount equal to the {{ukaprov|Allowance Shortfall}} multiplied by either the {{ukaprov|Allowance Purchase Price}} (in respect of an {{ukaprov|Allowance Forward Transaction}}) or the {{ukaprov|Allowance Strike Price}} (in respect of an {{ukaprov|Allowance Option Transaction}}), and the provisions of “{{ukaprov|Failure to Deliver}}” above will apply in respect of the {{ukaprov|Allowance Shortfall}} (with references to {{ukaprov|Number of Allowances}} (in the case of an {{ukaprov|Allowance Forward Transaction}}) and {{ukaprov|Allowances to be Delivered}} (in the case of an {{ukaprov|Allowance Option Transaction}}) being read as references to the {{ukaprov|Allowance Shortfall}}). <br>

Latest revision as of 15:51, 31 January 2023

(d)(iii) Partial Settlement
If, on the Delivery Date, Delivering Party delivers to Receiving Party fewer Allowances than the Allowances to be Delivered (such shortfall the “Allowance Shortfall”), Receiving Party’s obligation to pay pursuant to Physical Settlement above shall be reduced by an amount equal to the Allowance Shortfall multiplied by either the Allowance Purchase Price (in respect of an Allowance Forward Transaction) or the Allowance Strike Price (in respect of an Allowance Option Transaction), and the provisions of “Failure to Deliver” above will apply in respect of the Allowance Shortfall (with references to Number of Allowances (in the case of an Allowance Forward Transaction) and Allowances to be Delivered (in the case of an Allowance Option Transaction) being read as references to the Allowance Shortfall).

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