According to Article. 4.1, ETG will first pay what is called an Initial Rent, which is basically a certain rent that ETG will pay every month for the first ten years of the original lease. After the first ten years are over, ETG will increase the monthly rent by 10% for the next ten years. After that second decade is over, ETG will increase the monthly rent by 10%—however, this is 10% of the INITIAL RENT, not of the higher rent in the second decade of the lease. This will continue until the original lease ends.
According to Article. 31 (5) of the Sports Act, at the latest one year after the date of signature of the Contract, otherwise it is invalid.
According to Article. 10.2.1 of the Framework Agreement, the Closing should take place within 90 days after the signing of the Framework Agreement (prior to 23 May 2008). However, based on the mutual agreement of the Parties, the Parties agree that the Closing Date shall extend to 23 June 2008, and if necessary, may be further extended upon mutual agreement. The parties shall bear no liabilities under the Framework Agreement arising out of or from the postponement of the Closing Date under this Supplementary Agreement.
According to Article. 9(2) of the proposal the methodology will be implemented after the long-term capacity calculation methodology has been implemented. The relevant Hansa CCR regulatory authorities consider that this link is not necessary and that it would lead to an unnecessary delay in the implementation of the Hansa CCR splitting rules, as long-term transmission rights are already sold today on the relevant bidding zone borders. The FCA GL requires coherence with the capacity calculation methodology but this does not necessarily mean that the splitting rules cannot be implemented earlier. The relevant Hansa CCR Regulatory Authorities thus request the Hansa CCR TSOs to amend Article 9 as follows: The methodology shall be implemented for the first auction of yearly products after the methodology has been approved. (This will most probably be the auctions of yearly products for 2021.) The Regulatory Authorities invite XXXx to discuss how the period until full implementation of the Hansa CCM can be dealt with (e.g. in Article 2 on the definitions). New article to be added The splitting rules will change the market conditions on at least a part of the Hansa CCR bidding zone borders. The relevant Hansa CCR Regulatory Authorities therefore request TSOs to add the following provision: The proposal shall include an obligation to evaluate the working of this methodology three years after implementation at the latest. The evaluation shall at least include an analysis of whether the splitting rules meet market participants’ hedging needs. TSOs shall share the evaluation results at the latest three years after implementation with the relevant Hansa CCR Regulatory Authorities. If TSOs conclude that changes are necessary or desirable, they shall submit a proposal to amend the methodology to the relevant Hansa CCR Regulatory Authorities. Articles 7 and 8 of the proposal contain reporting provisions on technical and statistical information. TSOs shall review articles 7 and 8 and consider whether they should be amended in order to deal with information used for the evaluation of the methodology and the other changes requested.
