Limitation of Liability - EFET Allowance Provision

2007 EFET General Agreement Version 2.1(a) (Power) A Jolly Contrarian owner’s manual™ 12 in a Nutshell™ The JC’s Nutshell™ summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack. You can even ask questions! Ask about it here. 12 in all its glory § 12 Limitation of Liability. For the avoidance of doubt, the Parties agree that if an EEP or EEP Equivalent applies to an Allowance Transaction such EEP or EEP Equivalent shall not be considered an indirect or consequential damage of the type excluded from recovery of damages by § 12.3 (Consequential Damage and Limitation of Liability) of the General Agreement, and that such maximum amount of such EEP or EEP Equivalent, being an amount identifiable by them at the time of entering into their Allowance Transaction, is neither speculative nor difficult to ascertain. The Parties further agree and acknowledge that the formulae providing for calculating the amount of EEP and EEP Equivalent in this Allowances Appendix are reasonable in light of the anticipated harm that would be incurred by a Buyer and are therefore a genuine pre-estimate of the nature and magnitude of such harm. Further, the payment of such damages is not viewed by either Party as a penalty or in the nature of a penalty and each Party waives the right to contest those payments as an unreasonable penalty. In addition, the Parties agree to amend § 12.3(a) (Consequential Damage and Limitation of Liability) of the General Agreement by adding the words “(other than with respect to a claim under § 6.3 (No Encumbrances))” after the words “consequential Damages” in the first line thereof. Except to the extent otherwise modified herein by the Parties, there shall be no further changes to § 12 (Limitation of Liability) of the General Agreement with respect to Allowance Transactions. edit Comparison See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs Resources and Navigation Index: Click ᐅ to expand: EFET Allowance Annex - Premium Emissions Emissions trading documentation ISDA: EU Anatomy • EU Wikitext • EU Nutshell (premium) • UK Anatomy • UK Wikitext (to be merged into EU Anatomy) IETA: IETA Master Agreement • IETA Wikitext • IETA Nutshell (premium) EFET: EFET Allowances Appendix • EFET Allowances Wikitext • EFET Nutshell (premium) Premium version of this page

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Summary

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See also

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