Template:M summ EFET Allowance Annex 14.5

It is a regrettable fact that EFET’s Carbon Squad chose for its WHT clause the exact label that the other emissions master documents use for the Transaction parties themselves: “Receiving Party” in the EFET Allowances Appendix — the person who receives a payment over which there is some tax consequence — is not the same as Receiving Party in the ISDA EU Emissions Annex or Receiving Party in the IETA Master Agreement — the person who is delivered Allowances. That person, in the EFET Allowances Appendix, is the Buyer.