Talk:Delivery - Emissions Annex Provision: Difference between revisions

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-ISDA (d)(i)(2)
+IETA 5.1(c)
-(C) Where Receiving Party has more than one Specified Holding Account in respect of an EU Emissions Allowance Transaction, such Specified Holding Accounts are set out in order of preference. Delivering Party shall deliver the Allowances to be Delivered to the first listed Specified Holding Account of Receiving Party on the Delivery Date unless, in respect of such Receiving Party’s Specified Holding Account, it is prevented from so doing by an event or circumstance that would be a Settlement Disruption Event or a Suspension Event if the first listed Specified Holding Account of Receiving Party were the only Specified Holding Account so listed. In such circumstances, the provisions of this paragraph will apply iteratively to the next listed Receiving Party’s Specified Holding Account (if any).
+Where more than one Receiving Party’s Holding Account has been specified in the Confirmation to a Transaction, such Holding Accounts are set out in order of preference for such Transaction and the Delivering Party shall Transfer Period Traded Allowances from either, as the case may be:
+(i) any Holding Account; or
+(ii) any Delivering Party’s Holding Account,
+to the first listed Receiving Party’s Holding Account, unless in respect of such Receiving Party’s Holding Account, it is prevented from so doing by an event or circumstance that would be described under Clause 13 (Force Majeure or Suspension Event) or Clause 14.7 (Illegality) if the first listed Receiving Party’s Holding Account were the only Holding Account so listed. In such circumstances, the provisions of this paragraph will apply iteratively as though the next listed Receiving Party’s Holding Account were the first listed.