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Template:EFET Allowance Annex 7.5: Difference between revisions
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Template:EFET Allowance Annex 7.5 (view source)
Revision as of 10:27, 11 September 2023
, 11 September 2023no edit summary
Amwelladmin (talk | contribs) (Created page with "§ {{efetaprov|7.5}} '''{{efetaprov|Suspension Event}}'''.<br> :(a) '''{{efetaprov|Definition of Suspension Event}}'''. “'''{{efetaprov|Suspension Event}}''') means the occurrence of any of the following events which makes it impossible for a Party affected by the {{efetaprov|Suspension Event}} (the “'''{{efetaprov|SE Affected Party}}'''”) to perform its {{efetaprov|Transfer}} or acceptance of {{efetaprov|Transfer}} obligations in accordance with the terms of the...") |
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:(c) '''{{efetaprov|Notification and Mitigation of Suspension Event}}'''. The first Party learning of the occurrence of a {{efetaprov|Suspension Event}} shall, as soon as practicable, notify the other Party of the commencement of the {{efetaprov|Suspension Event}}. Each Party shall then undertake in good faith to determine, and notify the other Party with, to the extent then available, a non-binding estimate of the extent and expected duration of the {{efetaprov|Suspension Event}} and its impact on performance of all {{efetaprov|Allowance Transaction}}s affected by the {{efetaprov|Suspension Event}}. The SE {{efetaprov|Affected Party}} shall use all commercially reasonable efforts to mitigate the effects of the {{efetaprov|Suspension Event}} and shall, during the continuation of the {{efetaprov|Suspension Event}}, provide the other Party with reasonable updates, when and if available, of the extent and expected duration of its inability to perform. Each Party agrees in good faith to immediately notify the other Party once the {{efetaprov|Suspension Event}} is overcome or ceases to subsist. | :(c) '''{{efetaprov|Notification and Mitigation of Suspension Event}}'''. The first Party learning of the occurrence of a {{efetaprov|Suspension Event}} shall, as soon as practicable, notify the other Party of the commencement of the {{efetaprov|Suspension Event}}. Each Party shall then undertake in good faith to determine, and notify the other Party with, to the extent then available, a non-binding estimate of the extent and expected duration of the {{efetaprov|Suspension Event}} and its impact on performance of all {{efetaprov|Allowance Transaction}}s affected by the {{efetaprov|Suspension Event}}. The SE {{efetaprov|Affected Party}} shall use all commercially reasonable efforts to mitigate the effects of the {{efetaprov|Suspension Event}} and shall, during the continuation of the {{efetaprov|Suspension Event}}, provide the other Party with reasonable updates, when and if available, of the extent and expected duration of its inability to perform. Each Party agrees in good faith to immediately notify the other Party once the {{efetaprov|Suspension Event}} is overcome or ceases to subsist. | ||
:(d) '''{{efetaprov|Cost of Carry on Delayed Deliveries}}'''. In the event that all or part of the {{efetaprov|Contract Quantity}} of a {{efetaprov|SE Affected Transaction}} is Transferred to {{efetaprov|Buyer}} on or before the Delayed {{efetaprov|Delivery Date}}, {{efetaprov|Buyer}} shall pay to {{efetaprov|Seller}} an additional amount (the “Cost of Carry Amount”) calculated at the Cost of Carry Rate for the Cost of Carry Calculation Period on the product of the number of {{efetaprov|Allowance}}s so Transferred and the Contract Price for the relevant {{efetaprov|Allowance Transaction}}, divided by three hundred and sixty (360). Such Cost of Carry Amount shall be identified in the relevant invoice. | :(d) '''{{efetaprov|Cost of Carry on Delayed Deliveries}}'''. In the event that all or part of the {{efetaprov|Contract Quantity}} of a {{efetaprov|SE Affected Transaction}} is Transferred to {{efetaprov|Buyer}} on or before the Delayed {{efetaprov|Delivery Date}}, {{efetaprov|Buyer}} shall pay to {{efetaprov|Seller}} an additional amount (the “Cost of Carry Amount”) calculated at the Cost of Carry Rate for the Cost of Carry Calculation Period on the product of the number of {{efetaprov|Allowance}}s so Transferred and the Contract Price for the relevant {{efetaprov|Allowance Transaction}}, divided by three hundred and sixty (360). Such Cost of Carry Amount shall be identified in the relevant invoice. | ||
:(e) '''{{efetaprov|Settlement of Allowance Transaction Prevented by Suspension Event}}'''. Where a {{efetaprov|Suspension Event}} for a {{efetaprov|SE Affected Transaction}} continues to exist on the applicable {{efetaprov|Long Stop Date}}, the {{efetaprov|SE Affected Transaction}} shall be deemed an {{efetaprov|Allowance Transaction}} affected by {{efetaprov|Force Majeure}} and either Party may, by written notice to the other Party, terminate all (but not less than all) of the {{efetaprov|SE Affected Allowance Transaction}}(s) in accordance with § {{efetaprov|7.4}}(b) (''{{efetaprov|Force Majeure Termination Payment}}'') of the {{efetaprov|Allowances Appendix}} and in such instance § {{efetaprov|7.4}}(b)(i) (''{{efetaprov|No Termination Payment}}'') shall apply. | :(e) '''{{efetaprov|Settlement of Allowance Transaction Prevented by Suspension Event}}'''. Where a {{efetaprov|Suspension Event}} for a {{efetaprov|SE Affected Transaction}} continues to exist on the applicable {{efetaprov|Long Stop Date}}, the {{efetaprov|SE Affected Transaction}} shall be deemed an {{efetaprov|Allowance Transaction}} affected by {{efetaprov|Force Majeure}} and either Party may, by written notice to the other Party, terminate all (but not less than all) of the {{efetaprov|SE Affected Allowance Transaction}}(s) in accordance with § {{efetaprov|7.4}}(b) (''{{efetaprov|Force Majeure Termination Payment}}'') of the {{efetaprov|Allowances Appendix}} and in such instance § {{efetaprov|7.4}}(b)(i) (''{{efetaprov|No Termination Payment}}'') shall apply. <br> | ||