Template:Nutshell EUA Annex (d)(ii)(2): Difference between revisions

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::(A) '''{{euaprov|Failure to Comply Remedied}}''': If {{euaprov|Receiving Party}} complies by the {{euaprov|Final Compliance Date}}:  
::(A) '''{{euaprov|Failure to Comply Remedied}}''': If {{euaprov|Receiving Party}} complies by the {{euaprov|Final Compliance Date}}:  
:::(X) {{euaprov|Delivering Party}} must deliver the {{euaprov|Allowances to be Delivered}} and, on the {{euaprov|Payment Date}} (where the {{euaprov|Delivery Date}} will be the date of actual delivery) {{euaprov|Receiving Party}} must pay:
:::(X) {{euaprov|Delivering Party}} must deliver the {{euaprov|Allowances to be Delivered}} and, on the {{euaprov|Payment Date}} (where the {{euaprov|Delivery Date}} will be the date of actual delivery) {{euaprov|Receiving Party}} must pay:
::::(i) '''{{euaprov|Allowance Forward Transaction}}s''':  ''{{euaprov|Allowance Purchase Price}} x {{euaprov|Number of Allowances}}''';  
::::(i) '''{{euaprov|Allowance Forward Transaction}}s''':  ''{{euaprov|Allowance Purchase Price}} x {{euaprov|Number of Allowances}}'';  
::::(ii) '''{{euaprov|Allowance Option Transaction}}s''': ''{{euaprov|Allowance Strike Price}} x number of {{euaprov|Allowances to be Delivered}}''; and
::::(ii) '''{{euaprov|Allowance Option Transaction}}s''': ''{{euaprov|Allowance Strike Price}} x number of {{euaprov|Allowances to be Delivered}}''; and
:::(Y) on same the {{euaprov|Payment Date}} {{euaprov|Receiving Party}} must pay interest at the {{euaprov|Default Rate}}on ''number of {{euaprov|Allowances}} due but not delivered on the {{euaprov|Delivery Date}} x relevant {{euaprov|Allowance Purchase Price}}/{{euaprov|Allowance Strike Price}} from the original {{euaprov|Delivery Date}} to the date of actual delivery.
:::(Y) on same the {{euaprov|Payment Date}} {{euaprov|Receiving Party}} must pay interest at the {{euaprov|Default Rate}}on ''number of {{euaprov|Allowances}} due but not delivered on the {{euaprov|Delivery Date}} x relevant {{euaprov|Allowance Purchase Price}}/{{euaprov|Allowance Strike Price}} from the original {{euaprov|Delivery Date}} to the date of actual delivery.
::(B) '''{{euaprov|Failure to Comply Not Remedied}}''': If {{euaprov|Receiving Party}} fails to comply on or before the {{euaprov|Final Compliance Date}}, {{euaprov|Delivering Party}} may, by written notice to {{euaprov|Receiving Party}}, terminate the parties’ obligations under “{{euaprov|Physical Settlement}}” above and {{euaprov|Receiving Party}} shall pay to {{euaprov|Delivering Party}} an amount equal to {{euaprov|Delivering Party’s Replacement Cost}} (if a positive number) on the first succeeding {{euaprov|Business Day}}, adjusted to take into account any amount previously paid (other than {{euaprov|Premium}} on {{euaprov|Allowance Option Transactions}}) by {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} in respect of the relevant {{euaprov|EU Emissions Allowance Transaction}}. <br>
::(B) '''{{euaprov|Failure to Comply Not Remedied}}''': If {{euaprov|Receiving Party}} fails to comply by the {{euaprov|Final Compliance Date}}, {{euaprov|Delivering Party}} may, by written notice, terminate the parties’ “{{euaprov|Physical Settlement}}” obligations and {{euaprov|Receiving Party}} must pay {{euaprov|Delivering Party’s Replacement Cost}} (if positive) on the next {{euaprov|Business Day}}, adjusted for amounts previously paid (other than {{euaprov|Premium}} by {{euaprov|Receiving Party}} on the relevant {{euaprov|EU Emissions Allowance Transaction}}. <br>

Revision as of 08:09, 12 July 2022

(2) Failure to Comply by Receiving Party: If Receiving Party fails to comply with the Requirements under the Scheme as specified below, the Payment Date will be postponed and Delivering Party may, by notice, require Receiving Party to comply, and:
(A) Failure to Comply Remedied: If Receiving Party complies by the Final Compliance Date:
(X) Delivering Party must deliver the Allowances to be Delivered and, on the Payment Date (where the Delivery Date will be the date of actual delivery) Receiving Party must pay:
(i) Allowance Forward Transactions: Allowance Purchase Price x Number of Allowances;
(ii) Allowance Option Transactions: Allowance Strike Price x number of Allowances to be Delivered; and
(Y) on same the Payment Date Receiving Party must pay interest at the Default Rateon number of Allowances due but not delivered on the Delivery Date x relevant Allowance Purchase Price/Allowance Strike Price from the original Delivery Date to the date of actual delivery.
(B) Failure to Comply Not Remedied: If Receiving Party fails to comply by the Final Compliance Date, Delivering Party may, by written notice, terminate the parties’ “Physical Settlement” obligations and Receiving Party must pay Delivering Party’s Replacement Cost (if positive) on the next Business Day, adjusted for amounts previously paid (other than Premium by Receiving Party on the relevant EU Emissions Allowance Transaction.
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