Common use of Auction Structure Clause in Contracts

Auction Structure. Participation in a Sub-Auction-TCCs may be offered for sale in each Sub-Auction round of the Centralized TCC Auction. TCCs purchased in any round of any Sub-Auction may be resold in a subsequent round of that Sub-Auction. For example, the purchaser of a 5-year TCC purchased in the 5 year Sub-Auction may release a 4-year TCC with the same Point of Injections and Point of Withdrawal for sale in the 4-year Sub-Auction. Similarly, that purchaser could instead release a corresponding 3-year TCC for sale in the 3-year Sub-Auction. The following holders of TCCs may offer to sell TCCs in any round of a Sub-Action appropriate to their duration (i) Primary Holders who did not sell those TCCs in a Direct Sale or in a previous round of the Centralized TCC Auction ; (ii) purchasers of TCCs in previous rounds of that Centralized TCC Auction or in previous Auctions who have not subsequently sold those TCCs through an Auction; and (iii) purchasers of TCCs through a Direct Sale who qualify to become Primary Holders and have not already sold those TCCs through an Auction or through a Direct Sale, provided however that the sale of TCCs shall be subject to the limitations and prohibitions set forth in this ISO OATT including the limitation on the sale or transfer of Fixed Price TCCs and the limitation on the sale or other transfer of Incremental TCCs.

Auction Structure. Participation in a Sub-Auction-TCCs may be offered for sale in each Sub-Auction round of the Centralized TCC Auction. TCCs purchased in any round of any Sub-Auction may be resold in a subsequent round of that Sub-AuctionCentralized TCC Auction for TCCs with the same start date. For example, the purchaser of a 5-year TCC purchased in the 5 year Sub-Auction may release a 4-year TCC with the same Point of Injections Injection and Point of Withdrawal for sale in the 4-year Sub-AuctionAuction for TCCs with the same start date. Similarly, that purchaser could instead release a corresponding 3-year TCC for sale in the 3-year Sub-AuctionAuction for TCCs with the same start date. The following holders of TCCs may offer to sell TCCs in any round of a Sub-Action Auction appropriate to their duration duration: (i) Primary Holders who did not sell those TCCs in a Direct Sale or in a previous round of the Centralized TCC Auction Auction; (ii) purchasers of TCCs in previous rounds of that Centralized TCC Auction or in previous Auctions auctions who have not subsequently sold those TCCs through an Auctionauction; and (iii) purchasers of TCCs through a Direct Sale who qualify to become Primary Holders and have not already sold those TCCs through an Auction auction or through a Direct Sale, provided however that the sale of TCCs shall be subject to the limitations and prohibitions set forth in this ISO OATT including the limitation on the sale or transfer of Fixed Price TCCs and the limitation on the sale or other transfer of Incremental TCCs.

Auction Structure. Participation in a Sub-Auction-TCCs may be offered for sale in each Sub-Auction round of the Centralized TCC Auction. TCCs purchased in any round of any Sub-Auction may be resold in a subsequent round of that Sub-Centralized TCC Auction. For example, the purchaser of a 5-year TCC purchased in the 5 year Sub-Auction may release a 4-year TCC with the same Point of Injections Injection and Point of Withdrawal for sale in the 4-year Sub-Auction. Similarly, that purchaser could instead release a corresponding 3-year TCC for sale in the 3-year Sub-Auction. The following holders of TCCs may offer to sell TCCs in any round of a Sub-Action appropriate to their duration (i) Primary Holders who did not sell those TCCs in a Direct Sale or in a previous round of the Centralized TCC Auction ; (ii) purchasers of TCCs in previous rounds of that Centralized TCC Auction or in previous Auctions auctions who have not subsequently sold those TCCs through an Auctionauction; and (iii) purchasers of TCCs through a Direct Sale who qualify to become Primary Holders and have not already sold those TCCs through an Auction auction or through a Direct Sale, provided however that the sale of TCCs shall be subject to the limitations and prohibitions set forth in this ISO OATT including the limitation on the sale or transfer of Fixed Price TCCs and the limitation on the sale or other transfer of Incremental TCCs.