Template:Nutshell EUA Annex (d)(i)(1)

(d)(i)(1) Settlement

(A) Allowance Forward Transactions:

on the Payment Date, Buyer must pay Seller Allowance Purchase Price x Number of Allowances

on the Delivery Date Seller must deliver to Buyer Allowances to be Delivered.

(B) Allowance Option Transaction: for each Exercise Date:

on the Payment Date Receiving Party must pay Allowance Strike Price x Allowances to be Delivered

on the Delivery Date Delivering Party must deliver Allowances to be Delivered.