Talk:Settlement Disruption - Emissions Annex Provision

(D) Continuing Settlement Disruption Event: Where a Settlement Disruption Event continues: (I) for 9 Delivery Business Days after the originally scheduled Delivery Date; or, if shorter: (II) until a Reconciliation Deadline falling on or after the original Delivery Date; or, if shorter: (III) until the day 3 Delivery Business Days before the End of Phase Reconciliation Deadline falling on or after the original Delivery Date: then at that time there will be an Illegality where the affected Transaction is the sole Affected Transaction, both parties are Affected Parties, there is no Waiting Period and, if an Early Termination Date results, when determining the Early Termination Amount the suspended obligations will resume on the Early Termination Date, if “Payment on Termination for Settlement Disruption” applies, and if it does not the parties will have no further obligations after the Settlement Disruption Event other than for Unpaid Amounts and provided that (other than in respect of already-delivered Allowances) (i) Delivering Party must promptly refund any amount Receiving Party it was paid under a Allowance Forward Transaction or Call; and (ii) Receiving Party must promptly refund any amount Delivering Party it was paid under a Put together with interest from the payment date until the termination date of the Transaction at the overnight deposit rate for the relevant currency.