Template:Nutshell EUA Annex (d)(iii)

(d)(iii) Partial Settlement
If, on the Delivery Date, Delivering Party delivers to Receiving Party fewer Allowances than the Allowances to be Delivered (a “Allowance Shortfall”), Receiving Party’s payment obligation will be reduced by:

• For Allowance Forward Transactions: Allowance Shortfall x Allowance Purchase Price
• For Allowance Option Transactions: Allowance Shortfall x Allowance Strike Price

and “Failure to Deliver” above will apply to the Allowance Shortfall mutatis mutandis).