Template:IETA Master Agreement 5.1(c): Difference between revisions

:5.1(c) The {{ietaprov|Delivering Party}} agrees to {{ietaprov|Transfer}} (or procure the {{ietaprov|Transfer}} of) the {{ietaprov|Period Traded Allowance}}s from any {{ietaprov|Holding Account}} in any Registry to the relevant {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}}; provided, however, that if one or more {{ietaprov|Delivering Party}}'s {{ietaprov|Holding Account}}s are specified in the {{ietaprov|Confirmation}} to a {{ietaprov|Transaction}}, the {{ietaprov|Receiving Party}} agrees that the {{ietaprov|Delivering Party}}'s obligation to {{ietaprov|Transfer}} Allowances under this Agreement shall be limited to an obligation to {{ietaprov|Transfer}} the {{ietaprov|Period Traded Allowance}}s for the relevant {{ietaprov|Transaction}} from any of such {{ietaprov|Delivering Party}}'s {{ietaprov|Holding Account}}(s) to the relevant {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}}.  <br>

:Where more than one {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}} has been specified in the {{ietaprov|Confirmation}} to a {{ietaprov|Transaction}}, such {{ietaprov|Holding Account}}s are set out in order of preference for such {{ietaprov|Transaction}} and the {{ietaprov|Delivering Party}} shall {{ietaprov|Transfer}} {{ietaprov|Period Traded Allowance}}s from either, as the case may be: <br>

:to the first listed {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}}, unless in respect of such {{ietaprov|Receiving Party}}’s {{ietaprov|Holding Account}}, it is prevented from so doing by an event or circumstance that would be described under Clause 13 (Force Majeure or Suspension Event) or Clause 14.7 (Illegality) if the first listed {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}} were the only {{ietaprov|Holding Account}} so listed. In such circumstances, the provisions of this paragraph will apply iteratively as though the next listed {{ietaprov|Receiving Party}}'s {{ietaprov|Holding Account}} were the first listed. <br>