Common use of Credit Limit verification Clause in Contracts

Credit Limit verification. At closure of a relevant Pre-bidding Period, such Pre-Bid(s) shall be considered as Bid(s) submitted by the Registered Participant for the relevant Auction. 1. The Allocation Platform shall not register a Bid that: (a) does not comply with the requirements of Article 28; or (b) is submitted by a Registered Participant who is suspended in accordance with Article 59. 2. Provided that a Bid or a set of Bids fulfils the requirements set forth in Articles 28, the Allocation Platform shall confirm to the Registered Participant that such Bid(s) have been correctly registered by an acknowledgment of receipt via the Auction Tool. If the Allocation Platform does not issue an acknowledgment of receipt for a Bid, such Bid shall be deemed not to have been registered. 3. The Allocation Platform shall notify a Registered Participant whose Bid is rejected as invalid and the reason for this rejection, without undue delay after the Bid is rejected. 4. The Allocation Platform shall maintain a record of all valid Bids received. 5. Each valid Bid registered at closure of the Bidding Period shall constitute an unconditional and irrevocable offer by the Registered Participant to buy Daily Transmission Rights up to the Bid Quantity and at prices up to the Bid Price and under the terms and conditions of these Allocation Rules and the relevant Auction Specification.

Credit Limit verification. At closure of a relevant Pre-bidding Period, such Pre-Bid(s) shall be considered as Bid(s) submitted by the Registered Participant for the relevant Auction.. Article 29‌ 1. The Allocation Platform shall not register a Bid that: (a) does not comply with the requirements of Article 28; or (b) is submitted by a Registered Participant who is suspended in accordance with Article 59. 2. Provided that a Bid or a set of Bids fulfils the requirements set forth in Articles 28, the Allocation Platform shall confirm to the Registered Participant that such Bid(s) have been correctly registered by an acknowledgment of receipt via the Auction Tool. If the Allocation Platform does not issue an acknowledgment of receipt for a Bid, such Bid shall be deemed not to have been registered. 3. The Allocation Platform shall notify a Registered Participant whose Bid is rejected as invalid and the reason for this rejection, without undue delay after the Bid is rejected. 4. The Allocation Platform shall maintain a record of all valid Bids received. 5. Each valid Bid registered at closure of the Bidding Period shall constitute an unconditional and irrevocable offer by the Registered Participant to buy Daily Transmission Rights up to the Bid Quantity and at prices up to the Bid Price and under the terms and conditions of these Allocation Rules and the relevant Auction Specification.