Template:IETA Master Agreement 5.1(c)

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

Where more than one Receiving Party’s Holding Account has been specified in the Confirmation to a Transaction, such Holding Accounts are set out in order of preference for such Transaction and the Delivering Party shall Transfer Period Traded Allowances from either, as the case may be:

(i) any Holding Account; or

(ii) any Delivering Party’s Holding Account,

to the first listed Receiving Party’s Holding Account, unless in respect of such Receiving Party’s 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 Receiving Party’s Holding Account were the only Holding Account so listed. In such circumstances, the provisions of this paragraph will apply iteratively as though the next listed Receiving Party’s Holding Account were the first listed.