Part [•]. EU Emissions Allowance Transactions (a) Scope (b) ISDA Definitions (c) Multiple Delivery Dates (d) Terms
(e) Defined Terms and Interpretation Administrator Event AEUA Allowance or AEU Allowance Affected Allowance Aircraft Operator Allowance Allowance Forward Transaction Allowance Option Transaction Allowances to be Delivered Allowance Purchase Price Allowance Shortfall Allowance Strike Price Allowance Type Appropriate Source Buyer Buy-In Buy-In Period Calculation Agent Call Central Administrator Central European Time Close-out Cost of Carry Amount Close-out Cost of Carry Delay Close-out Cost of Carry Rate Cost of Carry Amount Cost of Carry Delay Cost of Carry Rate Deadline Shortfall Delayed Delivery Date Delayed Payment Date Delivering Party Delivering Party’s Delivery Business Day Location Delivering Party’s Replacement Cost Delivery Business Day Delivery Date Directive DPRC Shortfall EEP Amount EEP Non-delivery EEP Payment EEP Risk Period Encumbrance Loss Amount End of Phase Reconciliation Deadline EU EU Allowance EUTL or European Transaction Log Excess Emissions Penalty/EEP Expiration Date Final Compliance Date Final Delivery Date Fourth Compliance Period Holding Account Indemnifiable EEP Linking Agreement Long-Stop Date LTSL Member State Multiple Exercise National Administrator No Encumbrance Obligation Notice of Exercise Number of Allowances Number of Options Operator Option Option Entitlement Original Affected Party Payment Date Potential Exercise Date Premium Put Receiving Party Receiving Party’s Delivery Business Day Location Receiving Party’s Replacement Cost Reconciliation Deadline Registries Regulation Registry Registry Operation Relevant Authority Relevant Registry RPRC Shortfall Scheme Seller Seller Business Day Settlement Disruption Event Shortfall Specified Compliance Period Specified Holding Account Suspension Event Trade Date Third Compliance Period Unauthorised Transfer Undelivered Allowances Union Registry VAT VAT Amount VAT Invoice VAT Jurisdiction Written Confirmation
1 Subject of Agreement 2 Interpretation and Construction 3 Confirmation Procedure 4 General Obligations, Representations and Warranties 5 Allowance Transfers 6 Effecting Transfers 7 Option Transactions 8 Effect of Option Exercise 9 Billing and Payment 10 Euros 11 Taxes 12 Transfer or Acceptance Failure 13 Force Majeure and Suspension Event 14 Termination 15 Confidentiality 16 Assignment 17 Liabilities 18 Miscellaneous Schedule 1 Definitions
Schedule 2 Agreement Information (Elections) Schedule 3A Form of Confirmation for Spot/Forward Transactions Schedule 3B Form of Confirmation for Option Transactions
I. General Terms § 1 Subject of Allowances Appendix § 2 Definitions and Construction § 3 Concluding and Confirming Allowance Transactions § 4 Primary Obligations for Delivery and Acceptance of Allowances
§ 5 Primary Obligations for Options (as per EFET General Agreement) § 6 Delivery, Measurement, Transfer and Risk § 7 Non-Performance Due to Force Majeure and Suspension Event § 8 Remedies for Failure to Transfer or Accept § 9 Suspension of Delivery (as per EFET General Agreement) § 10 Term and Termination Rights § 11 Calculation of the Termination Amount § 12 Limitation of Liability § 13 Invoicing and Payment § 14 VAT and Taxes § 15 Floating Prices and Fallback Procedure for Market Disruption (as per EFET General Agreement) § 16 Guarantees and Credit Support (as per EFET General Agreement) § 17 Performance Assurance (as per EFET General Agreement) § 18 Provision of Financial Statements and Tangible Net Worth (as per EFET General Agreement) § 19 Assignment (as per EFET General Agreement) § 20 Confidentiality (as per EFET General Agreement) § 21 Representation and Warranties § 22 Governing Law and Arbitration Annex 1 Defined Terms Administrator Event AEUA Affected Allowance Aircraft Operator Allowance Allowances Appendix Allowance Type Allowances Termination Amount Allowance Transaction Applicable Rule(s) Appropriate Source Central Administrator Compliance Period Compliance Year Contract Price Contract Quantity Cost of Carry Amount Cost of Carry Calculation Period Cost of Carry Rate Default Cost of Carry Amount Default Cost of Carry Calculation Period Default Cost of Carry Rate Delayed Delivery Date Delivery Business Day Delivered Quantity Delivery Date Delivery Point Delivery Schedule Directive Encumbrance Loss Amount End of Phase Reconciliation Deadline Emissions Trading Scheme(s EU EUA EU ETS EU ETS Directive EUR-EuroSTR-COMPOUND EUTL or European Union Transaction Log Excess Emissions Penalty or EEP Excess Emissions Penalty Equivalent or EEP Equivalent Expert Fourth Compliance Period Holding Account Index Cessation Effective Date Index Cessation Event Long Stop Date Loss Member State National Administrator Negotiation Period New Tax Non-Member State Non-Taxed Party Operator Original Affected Party Other Tax Participating Agreement Paying Party Payment Cycle Physical Settlement Netting Accounts Receiving Party Reconciliation Deadline Registries Regulation Registry Registry Operation Relevant Authority Relevant Registry Rules SE Affected Party SE Affected Transaction Suspension Event TARGET Settlement Day Tax Taxed Party Third Compliance Period Total Contract Price Transfer Transfer Point Unauthorised Transfer Undelivered EEP Amount or UEA Union Registry Unpaid Amounts Value Added Tax or VAT II: Elections for customization of provisions in the Allowances Appendix