Validity and Effectiveness. 11.1 This Gas Storage Contract shall become valid and effective on the day it is signed by the authorized representatives of both Parties. 11.2 Any amendments to this Gas Storage Contract shall be legally binding and effective subject to the written consent of both Parties drawn up in the form of an addendum to this Gas Storage Contract that must be signed by legitimately appointed representatives of both Parties. 11.3 Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2025 and 1 April 2026 (“Extension No. 1”): Extension No. 1 shall be effected by the delivery of the written notice in accordance with the Annex No. 2 of this Gas Storage Contract to the Customer by 21 March 2025 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2025 and 1 April 2026 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 1 according to above mentioned, or in the case where the Customer shall deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 1, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2025 and 1 April 2026. 11.4 The Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2026 and 1 April 2027 (“Extension No. 2”): Extension No. 2 shall be effected by the delivery of the written notice in accordance with the Annex No. 3 of this Gas Storage Contract to the Customer by 20 March 2026 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2026 and 1 April 2027 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 2 according to above mentioned, or shall not inform Customer about this fact in accordance with Annex No.3, or in case where the Customer does deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 2, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2026 and 1 April 2027.
Appears in 2 contracts
Sources: Contract on Access to the Storage Facility and Gas Storage, Contract on Access to the Storage Facility and Gas Storage
Validity and Effectiveness. 11.1 This Gas Storage Contract shall become valid and effective on the day it is signed by the authorized representatives of both Parties.
11.2 Any amendments to this Gas Storage Contract shall be legally binding and effective subject to the written consent of both Parties drawn up in the form of an addendum to this Gas Storage Contract that must be signed by legitimately appointed representatives of both Parties.
11.3 Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2025 2026 and 1 April 2026 2027 (“Extension No. 1”): Extension No. 1 shall be effected by the delivery of the written notice in accordance with the Annex No. 2 of this Gas Storage Contract to the Customer by 21 March 2025 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2025 and 1 April 2026 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 1 according to above mentioned, or in the case where the Customer shall deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 1, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2025 and 1 April 2026.
11.4 The Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2026 and 1 April 2027 (“Extension No. 2”): Extension No. 2 shall be effected by the delivery of the written notice in accordance with the Annex No. 3 of this Gas Storage Contract to the Customer by 20 March 2026 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2026 and 1 April 2027 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 1 according to above mentioned, or in the case where the Customer shall deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 1, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2026 and 1 April 2027.
11.4 The Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2027 and 1 April 2028 (“Extension No. 2”): Extension No. 2 shall be effected by the delivery of the written notice in accordance with the Annex No. 3 of this Gas Storage Contract to the Customer by 19 March 2027 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2027 and 1 April 2028 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 2 according to above mentioned, or shall not inform Customer about this fact in accordance with Annex No.3, or in case where the Customer does deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 2, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2026 2027 and 1 April 20272028.
Appears in 1 contract
Sources: Contract on Access to the Storage Facility and Gas Storage
Validity and Effectiveness. 11.1 This Gas Storage Contract shall become valid and effective on the day it is signed by the authorized representatives of both Parties.
11.2 Storage Facility Operator shall have a right to exercise the option for period between 1 April 2019 and 1 April 2020 (hereinafter “Option No. 1”): Option No. 1 shall be exercised by the delivery of the written notice in accordance with the annex No. 2 of this Gas Storage Contract to the Customer by 7 December 2018 at the latest. Based on the delivery of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in period between 1 April 2019 and 1 April 2020. All rights and obligations of Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not exercise the Option No. 1 according to above mentioned, Storage Facility Operator shall inform the Customer about this fact in written form according to annex No. 2 of this Gas Storage Contract by 7 December 2018 at the latest. In such case, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2019 and 1 April 2020.
11.3 Storage Facility Operator shall have right to exercise the option for period between 1 April 2020 and 1 April 2021 (hereinafter “Option No. 2”): Option No. 2 shall be exercised by the delivery of the written notice in accordance with the annex No. 2 of this Gas Storage Contract to the Customer by 6 December 2019 at the latest. Based on the delivery of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in period between 1 April 2020 and 1 April 2021. All rights and obligations of Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not exercise the Option No. 2 according to above mentioned, Storage Facility Operator shall inform the Customer in written form about this fact according to annex No. 2 of this Gas Storage Contract by 6 December 2019 at the latest. In such case, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2020 and 1 April 2021. For purpose of the sections 11.2 and 11.3, the effects of the notice shall take place by the delivery of the electronic version of the written notice according to the annex No. 2.
11.4 Any amendments to this Gas Storage Contract shall be legally binding and effective subject to the written consent of both Parties drawn up in the form of an addendum to this Gas Storage Contract that must be signed by legitimately appointed representatives of both Parties.
11.3 11.5 This Gas Storage Contract shall lose its validity and effectiveness in case that Customer fails to submit the bank guarantee to the Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2025 and 1 April 2026 (“Extension No. 1”): Extension No. 1 shall be effected by the delivery of the written notice in accordance with the Annex No. 2 Rules of this Gas Storage Contract to the Customer by 21 March 2025 at the latest, Operation and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery Tender Terms and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2025 and 1 April 2026 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 1 according to above mentioned, or in the case where the Customer shall deliver Conditions for Tender for Access to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 1, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2025 and 1 April 2026.
11.4 The Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2026 and 1 April 2027 (“Extension No. 2”): Extension No. 2 shall be effected by the delivery of the written notice in accordance with the Annex No. 3 of this Gas Storage Contract to the Customer by 20 March 2026 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2026 and 1 April 2027 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 2 according to above mentioned, or shall not inform Customer about this fact in accordance with Annex No.3, or in case where the Customer does deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 2, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2026 and 1 April 2027.and
Appears in 1 contract
Sources: Contract on Access to the Storage Facility and Gas Storage
Validity and Effectiveness. 11.1 This Gas Storage Contract shall become valid and effective on the day it is signed by the authorized representatives of both Parties.
11.2 Storage Facility Operator shall have a right to exercise the option for period between 1 April 2017 and 1 April 2018 (hereinafter “Option No. 1”): Option No. 1 shall be exercised by the delivery of the written notice in accordance with the annex No. 2 of this Gas Storage Contract to the Customer by 2 December 2016 at the latest. Based on the delivery of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in period between 1 April 2017 and 1 April 2018. All rights and obligations of Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not exercise the Option No. 1 according to above mentioned, Storage Facility Operator shall inform the Customer about this fact in written form according to annex No. 2 of this Gas Storage Contract by 2 December 2016 at the latest. In such case, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2017 and 1 April 2018.
11.3 Storage Facility Operator shall have right to exercise the option for period between 1 April 2018 and 1 April 2019 (hereinafter “Option No. 2”): Option No. 2 shall be exercised by the delivery of the written notice in accordance with the annex No. 2 of this Gas Storage Contract to the Customer by 1 December 2017 at the latest. Based on the delivery of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in period between 1 April 2018 and 1 April 2019. All rights and obligations of Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not exercise the Option No. 2 according to above mentioned, Storage Facility Operator shall inform the Customer in written form about this fact according to annex No. 2 of this Gas Storage Contract by 1 December 2017 at the latest. In such case, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2018 and 1 April 2019. For purpose of the sections 11.2 and 11.3, the effects of the notice shall take place by the delivery of the electronic version of the written notice according to the annex No. 2.
11.4 Any amendments to this Gas Storage Contract shall be legally binding and effective subject to the written consent of both Parties drawn up in the form of an addendum to this Gas Storage Contract that must be signed by legitimately appointed representatives of both Parties.
11.3 11.5 This Gas Storage Contract shall lose its validity and effectiveness in case that Customer fails to submit the bank guarantee to the Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2025 and 1 April 2026 (“Extension No. 1”): Extension No. 1 shall be effected by the delivery of the written notice in accordance with the Annex No. 2 Rules of this Gas Storage Contract to the Customer by 21 March 2025 at the latest, Operation and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery Tender Terms and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2025 and 1 April 2026 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 1 according to above mentioned, or in the case where the Customer shall deliver Conditions for Tender for Access to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 1, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2025 and 1 April 2026.
11.4 The Storage Facility Operator shall have the right but not the obligation to offer storage capacity according to section 3.1 of this Gas Storage Contract for the period between 1 April 2026 and 1 April 2027 (“Extension No. 2”): Extension No. 2 shall be effected by the delivery of the written notice in accordance with the Annex No. 3 of this Gas Storage Contract to the Customer by 20 March 2026 at the latest, and its written acceptance by the Customer by seven (7) calendar days following to the delivery of the written notice mentioned above in this section at the latest. Based on the delivery and acceptance of this written notice, the storage capacity according to section 3.1 of this Gas Storage Contract shall be provided also in the period between 1 April 2026 and 1 April 2027 and all rights and obligations of the Parties arising from this Gas Storage Contract shall remain in this period valid. Shall the Storage Facility Operator not offer to make the Extension No. 2 according to above mentioned, or shall not inform Customer about this fact in accordance with Annex No.3, or in case where the Customer does deliver to Storage Facility Operator written notice in accordance with Annex No.3 of this Gas Storage Contract in which Customer does not accept the offer to make Extension No. 2, the storage capacity in accordance with section 3.1 of this Gas Storage Contract shall not be provided in period between 1 April 2026 and 1 April 2027.and
Appears in 1 contract
Sources: Contract on Access to the Storage Facility and Gas Storage