Template:UKA Annex (d)(ii)(3): Difference between revisions

{{euaprov|(d)(ii)(3)}} '''{{euaprov|EEP Amount}}''': Subject to the paragraph below, if “{{euaprov|Excess Emissions Penalty}}” is specified to be applicable in the Annex to this Part [7] or the Confirmation for the relevant {{euaprov|EU Emissions Allowance Transaction}} and as a result of {{euaprov|Delivering Party}}’s failure to deliver the {{euaprov|Allowances to be Delivered}} (in whole or in part) on the {{euaprov|Delivery Date}} {{euaprov|Receiving Party}} becomes liable to pay any {{euaprov|EEP Amount}}, then {{euaprov|Receiving Party}} shall provide to {{euaprov|Delivering Party}}, upon its reasonable request, evidence to the reasonable satisfaction of {{euaprov|Delivering Party}}:

:(A) that {{euaprov|Receiving Party}} has incurred an {{euaprov|EEP Amount}} consequent on Delivering Party’s failure to deliver the {{euaprov|Allowances to be Delivered}} (in whole or in part); and

:(B) the extent to which the requirement for {{euaprov|Receiving Party}} to pay any {{euaprov|EEP Amount}} results from Delivering Party’s failure to make such delivery; and

:(C) that {{euaprov|Receiving Party}} could not have used Allowances to which it had title in any {{euaprov|Holding Account}}(s) in any {{euaprov|Registry}} in order to avoid or reduce its liability to pay any {{euaprov|EEP Amount}} which it claims from {{euaprov|Delivering Party}} as part of {{euaprov|Receiving Party’s Replacement Cost}}. <br>

{{euaprov|Delivering Party}}’s obligation to pay any {{euaprov|EEP Amount}} in accordance with “{{euaprov|Failure to Deliver}}” under Part [7] of the Schedule to this Agreement is subject to {{euaprov|Receiving Party}}’s overriding obligation to use its reasonable endeavours to avoid becoming liable for such {{euaprov|EEP Amount}} or, when liable, to mitigate the payment obligation in relation to such {{euaprov|EEP Amount}} and to allocate any such {{euaprov|EEP Amount}} pro rata between all counterparties of {{euaprov|Receiving Party}} that have failed to deliver Allowances to {{euaprov|Receiving Party}} provided, however, that where {{euaprov|Receiving Party}} confirms it has been unable to avoid becoming liable for any {{euaprov|EEP Amount}}, it shall be for {{euaprov|Delivering Party}} to show that it has been as a result of {{euaprov|Receiving Party}} failing to use its reasonable endeavours to do so. <br>