Delivery of Offset Transactions Sample Clauses

Delivery of Offset Transactions. (a) For each relevant Gas Day, the delivery or receipt obligations of each party to a relevant Transaction (other than the Defaulting Participant), as adjusted under clause 20.5.3 or 20.5.4, are to be included in Delivery Netting where it applies to the relevant Transaction.
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Delivery of Offset Transactions. For each relevant Gas Day, the delivery or receipt obligations of each party to a relevant Transaction (other than the Defaulting Participant), as adjusted under clause 20.5.3 or 20.5.4, are to be included in Delivery Netting where it applies to the relevant Transaction. Where Delivery Netting does not apply to a relevant Transaction, or the Operator does not complete Delivery Netting for the applicable Trading Location and Gas Day, the Operator must determine an offset delivery schedule to provide for delivery of the Offset Quantity at each Trading Location, in accordance with the following principles: the Operator will determine a set of delivery pairs, each comprising one Seller and one Buyer, and will allocate a portion of the Offset Quantity to each delivery pair; the Transaction Quantity in a relevant Transaction can be allocated across more than one delivery pair; the quantity allocated to each delivery pair (the Offset Transaction Quantity) must be to the nearest whole GJ; and the offset delivery schedule should not require any Trading Participant to deliver, or accept delivery of, a quantity of gas at a Trading Location on any Gas Day that is greater than the quantity that (but for offset and close out) it would otherwise have been required to deliver or accept. As soon as reasonably practicable after determining an offset delivery schedule for a relevant Gas Day at a Trading Location, the Operator must notify the following information to each Trading Participant (other than the Defaulting Participant) that is a party to a relevant Transaction: the delivery pairs to which the Trading Participant has been allocated as Buyer or Seller; the identity of the other Trading Participant in each such delivery pair; for each delivery pair, the Offset Transaction Quantity and the Delivery Point Where the Operator has notified a Trading Participant that it is part of a delivery pair, that Trading Participant must make the Offset Transaction Quantity available for delivery, or accept delivery of that quantity (as applicable) in accordance with clauses 14 and 15 of this agreement, and for those purposes: the Offset Transaction Quantity is taken to be the Delivery Quantity; the Seller in a delivery pair is taken to be the Delivering Participant; and the Buyer in a delivery pair is taken to be the Receiving Participant.
Sample 1

Related to Delivery of Offset Transactions

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