Template:EUA Annex (d)(i)(4): Difference between revisions

:(A) '''Notification of {{euaprov|Settlement Disruption Event}}''': Upon the occurrence of a {{euaprov|Settlement Disruption Event}}, either party may notify the other party in writing of the commencement of the {{euaprov|Settlement Disruption Event}} and the {{euaprov|EU Emissions Allowance Transaction}}(s) affected by that {{euaprov|Settlement Disruption Event}}. Where the notification is from the party affected by the {{euaprov|Settlement Disruption Event}}, to the extent available to such party, it shall also provide details of the {{euaprov|Settlement Disruption Event}} and a non-binding estimate of the extent and the expected duration of its inability to perform its obligations due to the {{euaprov|Settlement Disruption Event}}.

:(B) '''Effect of {{euaprov|Settlement Disruption Event}}''': If a {{euaprov|Settlement Disruption Event}} occurs, the obligations of both parties which would otherwise be required to be performed with respect to the {{euaprov|EU Emissions Allowance Transaction}}(s) affected by the {{euaprov|Settlement Disruption Event}} will be suspended for the duration of the {{euaprov|Settlement Disruption Event}} and, subject to (d)(i)(4)(D) (Continuing Settlement Disruption Event) below, will not be required to be performed until the {{euaprov|Settlement Disruption Event}} is overcome or ceases to exist. During the continuation of the {{euaprov|Settlement Disruption Event}}, the party affected by the {{euaprov|Settlement Disruption Event}} shall continue to use all reasonable endeavours to overcome the {{euaprov|Settlement Disruption Event}}.