Collateral incident Sample Clauses
A 'Collateral incident' clause defines and addresses situations where secondary or indirect damages occur as a result of a primary event or breach under a contract. This clause typically clarifies whether parties are liable for losses that are not the direct result of an action, such as consequential damages, lost profits, or reputational harm. For example, if a supplier fails to deliver goods on time, the clause may specify whether they are responsible for the buyer's lost business opportunities resulting from the delay. The core function of this clause is to allocate risk and limit liability for indirect or unforeseen consequences, thereby providing clarity and predictability for both parties in the event of a dispute.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Long Term Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 65 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 22 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 26 or new collateral was provided that is not compliant with the conditions specified in Article 19(3), Article 20 and Article 21.
2. The Allocation Platform shall notify the collaterals incident to the Registered Participant by email. The Registered Participant shall increase its collaterals within two (2) Working Days from sending of the notification if this is done during Working Hours or two (2) Working Days starting from the next Working Day if sent after Working Hours. If the collaterals provided by the Registered Participant remains insufficient after this period, the Allocation Platform may suspend or terminate the Participation Agreement in accordance with Article 71 and Article 72.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Long Term Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 65 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 22 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 26 or new collateral was provided that is not compliant with the conditions specified in Article 19(3), Article 20 and Article 21.
2. The Allocation Platform shall notify the collaterals incident to the Registered Participant by email electronic means as specified by the Allocation Platform on its website. The Registered Participant shall increase its collaterals within two (2) Working Days from sending of the notification if this is done during Working Hours or two (2) Working Days starting from the next Working Day if sent after Working Hours. If the collaterals provided by the Registered Participant remains insufficient after this period, the Allocation Platform may suspend or terminate the Participation Agreement in accordance with Article 71 and Article 72.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the transmission rights held by a registered participant on the next payment date as set forth in Article 52 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 20 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 24 or new collateral was provided that is not compliant with the conditions specified in Articles 17(3), 18 and 19.
2. The allocation platform shall notify the collaterals incident to the registered participant by electronic means as specified by the allocation platform on its website. The registered participant shall increase its collaterals within two (2) working days from sending of the notification if this is done during working hours or two (2) working days starting from the next working day if sent after working hours. If the collaterals provided by the registered participant remains insufficient after this period, the allocation platform may suspend or terminate the participation agreement in accordance with Articles 58 and 59.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Long Term Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 65 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 22 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 26 or new collateral was provided that is not compliant with the conditions specified in Article 19(3), Article 20 and Article 21.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Daily Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 51 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 20 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 24 or new collateral was provided that is not compliant with the conditions specified in Articles 17 paragraph 3, 18 and 19.
2. Without prejudice to the other rights of the Allocation Platform, the Allocation Platform shall notify the collateral incident to the Registered Participant by electronic means as specified by the Allocation Platform on its website. The Registered Participant shall increase its collaterals within two (2) Working Days from sending of the notification if this is done during Working Hours or two (2) Working Days starting from the next Working Day if sent after Working Hours. If the provided collaterals by the Registered Participant remain insufficient after this period, the Allocation Platform may suspend or terminate the Participation Agreement in accordance with Article 57 and Article 58.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Daily Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 53 considering the amount and the validity of the collaterals; or
(b) the collaterals are not restored after a payment incident in accordance with Article 24 or new collateral was provided that is not compliant with the conditions specified in Articles 17(3), 18 and 19.
2. The Allocation Platform shall notify the collaterals incident to the Registered Participant by email. The Registered Participant shall increase its collaterals within two (2) Working Days from sending of the notification if this is done during Working Hours or two (2) Working Days starting from the next Working Day if sent after Working Hours. If the collaterals provided by the Registered Participant remain insufficient after this period, the Allocation Platform may suspend or terminate the Participation Agreement in accordance with Articles 59 and 60.
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Long Term Transmission Rights held by a Registered Participant on the next payment date as set forth in Article 65 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 21 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 25 or new collateral was provided that is not compliant with the conditions specified in Article 18 paragraph 3, Article 19 and Article 20.
2. Without prejudice to the other rights of the Allocation Platform, the Allocation Platform shall notify the collaterals incident to the Registered Participant by electronic means as specified by the Allocation Platform on its website. The Registered Participant shall increase its collaterals within two (2) Working Days from sending of the notification if this is done during Working Hours or two
Collateral incident. 1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Transmission Rights held by a Registered Participant on the next payment date as set forth in Rule 76 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Rules 21A and 21B paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Rule 25 or new collateral was provided that is not compliant with the conditions specified in Rule 18(3), Rule 19 and Rule 20.
2. The Allocation Platform shall notify the collateral incident to the Registered Participant by electronic means as specified by the Allocation Platform on its website. The Registered Participant shall increase its collaterals within two (2) Working Days from the sending of the notification if this is done during Working Hours or two (2) Working Days starting from the next Working Day if sent after Working Hours. If the collateral provided by the Registered Participant remains insufficient after this period, the Allocation Platform may suspend or terminate the Allocation Platform Participation Agreement in accordance with Rule 83 and Rule 84.
1. The Allocation Platform is entitled to call upon collaterals of a Registered Participant in the event of a registered payment incident in accordance with Rule 79 in relation to any sum invoiced under these Access Rules that a Registered Participant has failed to pay by the due date for payment.
2. The Registered Participant shall restore its collaterals after a payment incident or collateral incident by following the conditions as set forth in Rule 18(3), Rule 19 and Rule 20 unless the Allocation Platform Participation Agreement is suspended or terminated in accordance with Rule 83 or Rule 84.
1. The Allocation Platform shall allocate Transmission Rights to Registered Participants by way of explicit Allocation. Prior to the Auction, the Allocation Platform shall publish Auction Specifications on its website.
2. The Auctions shall be organised via the Auction Tool. Each Registered Participant fulfilling the requirements for participating in the Auction may place Bids in the Auction Tool until the Bidding Period for the specific Auction expires according to the respective Auction Specification.
3. After the Bidding Period for the specific Auction has expired, the Allocation Platform shall evaluate the Bids including against the respective ...
Collateral incident.
1. A collateral incident occurs in the following cases:
(a) the collaterals are insufficient to secure the amount due for the Transmission Righttransmission rights held by a Registered Participantregistered participant on the next payment date as set forth in Article 52 considering the amount and the validity of the collaterals; or
(b) the collaterals are not renewed in accordance with Article 20 paragraph 2; or
(c) the collaterals are not restored after a payment incident in accordance with Article 24 or new collateral was provided that is not compliant with the conditions specified in Articles 17(3), 18 and 19.
2. The Allocation Platformallocation platform shall notify the collaterals incident to the Registered Participantregistered participant by electronic means as specified by the Allocation Platformallocation platform on its website. The Registered Participantregistered participant shall increase its collaterals within two (2) Working Dayworking days from sending of the notification if this is done during Working Hourworking hours or two (2) Working Dayworking days starting from the next Working Dayworking day if sent after Working Hourworking hours. If the collaterals provided by the Registered Participantregistered participant remains insufficient after this period, the Allocation Platformallocation platform may suspend or terminate the Participation Agreementparticipation agreement in accordance with Articles 58 and 59.