Template:EFET Allowance Annex 8.1: Difference between revisions

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Template:EFET Allowance Annex 8.1 (view source)

Revision as of 12:12, 8 September 2023

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::(c) '''{{efetaprov|Buyer’s Right to Waive Its Cover Costs}}'''. The {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for damages payable pursuant to § {{efetaprov|8.1}}(b)(i) (''{{efetaprov|Buyer’s Cover Costs}}'') in accordance with the requirements of Payment Cycle B as defined in § 13.2 (Payment). However, the {{efetaprov|Buyer}} may alternatively, but shall be under no obligation to, defer the due date on the payment of such damages for a reasonable period of time (but in no event beyond the applicable {{efetaprov|Reconciliation Deadline}}) if the {{efetaprov|Seller}} has indicated to the {{efetaprov|Buyer}} an intent to attempt to cure its {{efetaprov|Transfer}} default within a period of time acceptable to the {{efetaprov|Buyer}}.  
::(c) '''{{efetaprov|Buyer’s Right to Waive Its Cover Costs}}'''. The {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for damages payable pursuant to § {{efetaprov|8.1}}(b)(i) (''{{efetaprov|Buyer’s Cover Costs}}'') in accordance with the requirements of Payment Cycle B as defined in § 13.2 (Payment). However, the {{efetaprov|Buyer}} may alternatively, but shall be under no obligation to, defer the due date on the payment of such damages for a reasonable period of time (but in no event beyond the applicable {{efetaprov|Reconciliation Deadline}}) if the {{efetaprov|Seller}} has indicated to the {{efetaprov|Buyer}} an intent to attempt to cure its {{efetaprov|Transfer}} default within a period of time acceptable to the {{efetaprov|Buyer}}.  
   
   
::::(i) At any time prior to the due date applicable to the payment of damages due to the {{efetaprov|Buyer}} under §{{efetaprov|8.1}}(b), the {{efetaprov|Seller}} may offer to {{efetaprov|Transfer}} to the {{efetaprov|Buyer}} replacement {{efetaprov|Allowance}}s on a new {{efetaprov|Delivery Date}} (the “{{efetaprov|Deferred Delivery Date}}”) for those it originally failed to Transfer. The {{efetaprov|Buyer}} may, but is not required to, agree to accept such {{efetaprov|Transfer}} of replacement {{efetaprov|Allowance}}s in lieu of the damages it is entitled to recover under § 8.1(b), provided that in such case the {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for interest for the intervening period calculated as the sum of interest accrued during the two {{efetaprov|Delivery Business Day}} grace period as provided in § 8.1(a); plus interest, at the Interest Rate specified in § 13.5 (Default Interest), from (and including) the first {{efetaprov|Delivery Business Day}} following the {{efetaprov|Delivery Date}}, to (but excluding) the date of actual {{efetaprov|Transfer}} of the previously undelivered Allowance(s), accrued on the amount calculated in accordance with the formula set forth in § {{efetaprov|8.1}}(b)(i)(C).  
:::(i) At any time prior to the due date applicable to the payment of damages due to the {{efetaprov|Buyer}} under §{{efetaprov|8.1}}(b), the {{efetaprov|Seller}} may offer to {{efetaprov|Transfer}} to the {{efetaprov|Buyer}} replacement {{efetaprov|Allowance}}s on a new {{efetaprov|Delivery Date}} (the “{{efetaprov|Deferred Delivery Date}}”) for those it originally failed to Transfer. The {{efetaprov|Buyer}} may, but is not required to, agree to accept such {{efetaprov|Transfer}} of replacement {{efetaprov|Allowance}}s in lieu of the damages it is entitled to recover under § 8.1(b), provided that in such case the {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for interest for the intervening period calculated as the sum of interest accrued during the two {{efetaprov|Delivery Business Day}} grace period as provided in § 8.1(a); plus interest, at the Interest Rate specified in § 13.5 (Default Interest), from (and including) the first {{efetaprov|Delivery Business Day}} following the {{efetaprov|Delivery Date}}, to (but excluding) the date of actual {{efetaprov|Transfer}} of the previously undelivered Allowance(s), accrued on the amount calculated in accordance with the formula set forth in § {{efetaprov|8.1}}(b)(i)(C).  
   
   
:::(ii) If the {{efetaprov|Buyer}} agrees to accept the {{efetaprov|Seller}}’s offer for {{efetaprov|Transfer}} of replacement {{efetaprov|Allowance}}s on a {{efetaprov|Deferred Delivery Date}} as provided above in subparagraph (i), but the {{efetaprov|Seller}} again defaults on its deferred {{efetaprov|Transfer}} obligation, the {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for an amount calculated in accordance with § 8.1(b) ({{efetaprov|Buyer’s Cover Costs}}) save that the amount it may so invoice the {{efetaprov|Seller}} shall account for both:  
:::(ii) If the {{efetaprov|Buyer}} agrees to accept the {{efetaprov|Seller}}’s offer for {{efetaprov|Transfer}} of replacement {{efetaprov|Allowance}}s on a {{efetaprov|Deferred Delivery Date}} as provided above in subparagraph (i), but the {{efetaprov|Seller}} again defaults on its deferred {{efetaprov|Transfer}} obligation, the {{efetaprov|Buyer}} shall be entitled to invoice the {{efetaprov|Seller}} for an amount calculated in accordance with § 8.1(b) ({{efetaprov|Buyer’s Cover Costs}}) save that the amount it may so invoice the {{efetaprov|Seller}} shall account for both:  
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