Template:Nutshell EUA Annex (d)(i)(3)

(d)(i)(3) Netting
If on any date parties would otherwise be due to deliver fungible Allowances to each other (and between the same pair of Holding Accounts) under separate Transactions then, on such date, parties’ respective delivery obligations will be automatically satisfied and discharged replaced by an obligation upon the party having the larger deliverable obligation to deliver the excess of its delivery obligation over the other party’s delivery obligation.