Template:Nutshell EUA Annex Abandonment of Scheme: Difference between revisions
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:(2) Upon such a termination, together with interest from the payment date to termination date, at the prevailing overnight deposit rate in the interbank market: | :(2) Upon such a termination, together with interest from the payment date to termination date, at the prevailing overnight deposit rate in the interbank market: | ||
::'''{{euaprov|Forward}}s and {{euaprov|Call}}s''': {{euaprov|Delivering Party}} must promptly refund any amount {{euaprov|Receiving Party}} has paid under {{euaprov|Forward}}s and {{euaprov|Call}}s. | ::'''{{euaprov|Forward}}s and {{euaprov|Call}}s''': {{euaprov|Delivering Party}} must promptly refund any amount {{euaprov|Receiving Party}} has paid under {{euaprov|Forward}}s and {{euaprov|Call}}s. | ||
::'''Puts''': {{euaprov|Receiving Party}} must promptly refund any amounts {{euaprov|Delivering Party}} paid under a {{euaprov|Put}}. | ::'''Puts''': {{euaprov|Receiving Party}} must promptly refund any amounts {{euaprov|Delivering Party}} paid under a {{euaprov|Put}}.<br> | ||
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Latest revision as of 13:40, 25 January 2023
- (1) If before the Delivery Date the European Community officially discontinues the Scheme either party may terminate the Transaction by notice, there will be no further delivery or payment obligations (other than payments due for already-performed deliveries) and no payments will be due under Section 6(e).
- (2) Upon such a termination, together with interest from the payment date to termination date, at the prevailing overnight deposit rate in the interbank market:
- Forwards and Calls: Delivering Party must promptly refund any amount Receiving Party has paid under Forwards and Calls.
- Puts: Receiving Party must promptly refund any amounts Delivering Party paid under a Put.