Template:EUA Annex Parties

Buyer: Means, in respect of an EU Emissions Allowance Transaction, the party specified as such in the related Confirmation.

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Seller: Means, in respect of an EU Emissions Allowance Transaction, the party specified as such in the related Confirmation.

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Delivering Party: Means, in respect of an EU Emissions Allowance Transaction that is:

(1) an Allowance Forward Transaction, the Seller;

(2) an Allowance Option Transaction which is a Call, the Seller; or

(3) an Allowance Option Transaction which is a Put, the Buyer.

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Receiving Party: Means, in respect of an EU Emissions Allowance Transaction that is:

(1) an Allowance Forward Transaction, the Buyer;

(2) an Allowance Option Transaction which is a Call, the Buyer; or

(3) an Allowance Option Transaction which is a Put, the Seller.