Template:M comp disc EUA Annex (d)(i)(4): Difference between revisions

Revision as of 14:39, 26 July 2022

In a Nutshell™ what is going on here is:

When you thought you were going to settle, you can’t — where it isn’t your fault (that’s a Failure to Deliver) and it isn’t the European Union’s fault either (that’s a Suspension Event)
The parties’ respective settlement obligations are suspended until resolution, and (unless things don’t resolve for an unfeasibly long time) then performed within two business days of the settlement Disruption Event lifting;
If they don’t lift by the earliest of (i) 9 Delivery Business Days following scheduled settlement or (ii) the next Reconciliation Deadline by which the EUAs have to be surrendered or (iii) 3 Delivery Business Days before the next End of Phase Reconciliation Deadline, then it is deemed to be an Illegality.
If there is an Early Termination Date^[1] then if “Payment on Termination for Settlement Disruption” applies, you determine the Early Termination Amount assuming the suspended obligations resume on the Early Termination Date, and if it doesn’t, that’s all she wrote.

↑ Which there should be... but who knows, maybe a man from mars will come down and start eating up bars in the mean time.

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-In a {{nutshell}} what is going on here is:
+[[Settlement Disruption Event - Emissions Annex Provision|In]] a {{nutshell}} what is going on here is:
 *When you thought you were going to settle, you can’t — where it isn’t ''your'' fault (that’s a {{euaprov|Failure to Deliver}}) and it isn’t the [[European Union]]’s fault either (that’s a {{euaprov|Suspension Event}})
 *The parties’ respective settlement obligations are suspended until resolution, and (unless things don’t resolve for an unfeasibly long time) then performed within two business days of the settlement Disruption Event lifting;
 *If they don’t lift by the earliest of (i) 9 {{euaprov|Delivery Business Days}} following scheduled settlement or (ii) the next {{euaprov|Reconciliation Deadline}} by which the EUAs have to be surrendered or (iii) 3 {{euaprov|Delivery Business Days}} before the next {{euaprov|End of Phase Reconciliation Deadline}}, then it is deemed to be an {{isdaprov|Illegality}}.
 *If there is an {{isdaprov|Early Termination Date}}<ref>Which there ''should'' be... but who knows, maybe a man from mars will come down and start eating up bars in the mean time.</ref> then if “{{euaprov|Payment on Termination for Settlement Disruption}}” applies, you determine the {{isdaprov|Early Termination Amount}} assuming the suspended obligations resume on the {{isdaprov|Early Termination Date}}, and if it doesn’t, that’s all she wrote.