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

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(d)(i)(1) Settlement

(A) Allowance Forward Transactions: on the Payment Date, Buyer must pay Seller Allowance Purchase Price x Number of Allowances and on the Delivery Date Seller must deliver to Buyer the Allowances to be Delivered.

(B) Allowance Option Transaction: for each Exercise Date, on the Payment Date Receiving Party must pay Delivering Party Allowance Strike Price x Number of Allowances to be Delivered and on the Delivery Date Delivering Party must deliver Receiving Party the Allowances to be Delivered.

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