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{{ietaprov|2}} Interpretation and Construction<br> | {{ietaprov|2}} Interpretation and Construction<br> | ||
{{ietaprov|2.1}} Definitions. Unless otherwise defined, capitalized terms used in the body of the Agreement shall have the meanings assigned to them in {{ietaprov|Schedule}} | {{ietaprov|2.1}} Definitions. Unless otherwise defined, capitalized terms used in the body of the Agreement shall have the meanings assigned to them in {{ietaprov|Schedule 1}} (''{{ietaprov|Definitions}}''). <br> | ||
{{ietaprov|2.2}} Interpretation. The following interpretive provisions apply to this {{ietaprov|Agreement}}.<br> | {{ietaprov|2.2}} Interpretation. The following interpretive provisions apply to this {{ietaprov|Agreement}}.<br> | ||
:{{ietaprov|2.2(a)}} Reference to any law or statute includes any amendment to, consolidation, re- enactment or replacement of such law or statute.<br> | :{{ietaprov|2.2(a)}} Reference to any law or statute includes any amendment to, consolidation, re- enactment or replacement of such law or statute.<br> | ||
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{{ietaprov|6.6}} Each Party agrees with the other that where a Party has specified a {{ietaprov|Registry}} only in the {{ietaprov|Confirmation}} of the relevant {{ietaprov|Transaction}} (including any additional {{ietaprov|Registry}} agreed by the Parties in accordance with Clause {{ietaprov|6.5}} (Effecting Transfers)), then that Party is obliged to notify the other of the account name and number of a {{ietaprov|Holding Account}} for each specified {{ietaprov|Registry}} no later than thirty (30) calendar days before a {{ietaprov|Delivery Date}} under that Transaction.<br> | {{ietaprov|6.6}} Each Party agrees with the other that where a Party has specified a {{ietaprov|Registry}} only in the {{ietaprov|Confirmation}} of the relevant {{ietaprov|Transaction}} (including any additional {{ietaprov|Registry}} agreed by the Parties in accordance with Clause {{ietaprov|6.5}} (Effecting Transfers)), then that Party is obliged to notify the other of the account name and number of a {{ietaprov|Holding Account}} for each specified {{ietaprov|Registry}} no later than thirty (30) calendar days before a {{ietaprov|Delivery Date}} under that Transaction.<br> | ||
{{ietaprov|7}} {{ietaprov|Option Transaction}}s<br> | {{ietaprov|7}} {{ietaprov|Option Transaction}}s<br> | ||
{{ietaprov|7.1}} The {{ietaprov|Premium}} in respect of the purchase of an {{ietaprov|Option}} shall be paid by the {{ietaprov|Buyer}} to the {{ietaprov|Seller}} on the {{ietaprov|Payment Due Date}} in relation to the relevant {{ietaprov|Option Transaction}}. For the avoidance of doubt, all payments in relation to any {{ietaprov|Transaction}} deemed to be entered into pursuant to clause 8 (Effect of Exercise) will be made in accordance with the provisions of clause 9 (Billing and Payment) (to the extent that they do not relate to an {{ietaprov|Option Transaction}}). The Parties agree that any {{ietaprov|Option}} {{ietaprov|Transaction}} entered into between them shall be substantially in the form of {{ietaprov|Confirmation}} for {{ietaprov|Option Transaction}}s set out in {{ietaprov|Schedule}} | {{ietaprov|7.1}} The {{ietaprov|Premium}} in respect of the purchase of an {{ietaprov|Option}} shall be paid by the {{ietaprov|Buyer}} to the {{ietaprov|Seller}} on the {{ietaprov|Payment Due Date}} in relation to the relevant {{ietaprov|Option Transaction}}. For the avoidance of doubt, all payments in relation to any {{ietaprov|Transaction}} deemed to be entered into pursuant to clause 8 (Effect of Exercise) will be made in accordance with the provisions of clause 9 (Billing and Payment) (to the extent that they do not relate to an {{ietaprov|Option Transaction}}). The Parties agree that any {{ietaprov|Option}} {{ietaprov|Transaction}} entered into between them shall be substantially in the form of {{ietaprov|Confirmation}} for {{ietaprov|Option Transaction}}s set out in {{ietaprov|Schedule 3B}} (''{{ietaprov|Form of Confirmation for Option Transactions}}'')).<br> | ||
{{ietaprov|7.2}} Where the {{ietaprov|Buyer}} exercises an {{ietaprov|Option}}, it may do so by giving notice within the {{ietaprov|Exercise Period}} for the relevant {{ietaprov|Option Transaction}}:<br> | {{ietaprov|7.2}} Where the {{ietaprov|Buyer}} exercises an {{ietaprov|Option}}, it may do so by giving notice within the {{ietaprov|Exercise Period}} for the relevant {{ietaprov|Option Transaction}}:<br> | ||
:{{ietaprov|7.2(a)}} in writing to the {{ietaprov|Seller}} in accordance with Clause {{ietaprov|18.5}} (Notices); or<br> | :{{ietaprov|7.2(a)}} in writing to the {{ietaprov|Seller}} in accordance with Clause {{ietaprov|18.5}} (Notices); or<br> | ||
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“'''{{ietaprov|Change in Tax Law}}'''” means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law (or in the application or official interpretation of any law) affecting the tax treatment accorded to the {{ietaprov|Transfer}} of {{ietaprov|Allowance}}s that occurs on or after the date on which the relevant {{ietaprov|Transaction}} is entered into.<br> | “'''{{ietaprov|Change in Tax Law}}'''” means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law (or in the application or official interpretation of any law) affecting the tax treatment accorded to the {{ietaprov|Transfer}} of {{ietaprov|Allowance}}s that occurs on or after the date on which the relevant {{ietaprov|Transaction}} is entered into.<br> | ||
“'''{{ietaprov|Confidential Information}}'''” has the meaning given to it in Clause {{ietaprov|15}} (Confidentiality).<br> | “'''{{ietaprov|Confidential Information}}'''” has the meaning given to it in Clause {{ietaprov|15}} (Confidentiality).<br> | ||
“'''{{ietaprov|Confirmation}}'''” means a completed written confirmation substantially in the form set out in {{ietaprov|Schedule}} | “'''{{ietaprov|Confirmation}}'''” means a completed written confirmation substantially in the form set out in {{ietaprov|Schedule 3A}} (''{{ietaprov|Form of Confirmation for Spot/ForwardTransactions}}'') or 3B (Form of {{ietaprov|Confirmation}} for {{ietaprov|Option Transaction}}s), as applicable or in a form otherwise agreed between the Parties.<br> | ||
“'''{{ietaprov|Contract Amount}}'''” means, for each Transaction, the amount (expressed in Euros unless otherwise agreed) calculated by multiplying the {{ietaprov|Allowance Price}} by the {{ietaprov|PTA Quantity}} for that Transaction.<br> | “'''{{ietaprov|Contract Amount}}'''” means, for each Transaction, the amount (expressed in Euros unless otherwise agreed) calculated by multiplying the {{ietaprov|Allowance Price}} by the {{ietaprov|PTA Quantity}} for that Transaction.<br> | ||
“'''{{ietaprov|Contract Value}}'''” means, for any {{ietaprov|Undelivered Allowances}}, the amount (expressed in Euros unless otherwise agreed) calculated by multiplying the {{ietaprov|Allowance Price}} by the number of {{ietaprov|Undelivered Allowances}}.<br> | “'''{{ietaprov|Contract Value}}'''” means, for any {{ietaprov|Undelivered Allowances}}, the amount (expressed in Euros unless otherwise agreed) calculated by multiplying the {{ietaprov|Allowance Price}} by the number of {{ietaprov|Undelivered Allowances}}.<br> | ||