Common use of Business Account Clause in Contracts

Business Account. (a) The Business Account has been opened by the Allocation Platform with the Account Bank. The Business Account shall be managed, controlled and operated exclusively by the Allocation Platform. (b) The Business Account is a special dedicated account to which the Registered Participant shall pay all the amounts required under the Allocation Rules and/or Additional Rules and all the payments for the allocated Transmission Rights acquired or to be acquired by the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. The Registered Participant shall pay all the amounts and payments to the Business Account from an account in its name with a credit institution based in the European Union, United Kingdom, European Economic Area or a country in which the Allocation Platform performs cross border auction services. The Registered Participant is obliged to select a credit institution which is subject to customer due diligence standards that are not less than those laid down in Directive (EU) 2015/849 and which complies with them accordingly. (c) For the avoidance of doubt, the Allocation Platform will pay to the bank account of the Registered Participant notified to the Allocation Platform in the Attachment 1 of the Participation Agreement, all remunerations and compensations to be paid by the Allocation Platform to the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. A single executed payment (and also underlying invoice/self-bill) will include all transactions irrespectively to which Allocation Rules or Additional Rules are ascribed. (d) For the avoidance of doubt, the other sub-accounts of the account n° IBAN XX00 0000 0000 0000 0000 are dedicated to other Registered Participants and such sub-accounts are not subject to the provisions of this Agreement.

Business Account. (a) The Business Account has been opened by the Allocation Platform with the Account Bank. The Business Account shall be managed, controlled and operated exclusively by the Allocation Platform. (b) The Business Account is a special dedicated account to which the Registered Participant shall pay all the amounts required under the Allocation Rules and/or Additional Rules and all the payments for the allocated Transmission Rights acquired or to be acquired by the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. The Registered Participant shall pay all the amounts and payments to the Business Account from an account in its name with a credit institution based in the European Union, United Kingdom, European Economic Area or a country in which the Allocation Platform performs cross border auction services. The Registered Participant is obliged to select a credit institution which is subject to customer due diligence standards that are not less than those laid down in Directive (EU) 2015/849 (as amended from time to time) and which complies with them accordingly. (c) For the avoidance of doubt, the Allocation Platform will pay to the bank account of the Registered Participant notified to the Allocation Platform in the Attachment 1 of the Participation Agreement, all remunerations and compensations to be paid by the Allocation Platform to the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. A single executed payment (and also underlying invoice/self-bill) will include all transactions irrespectively to which Allocation Rules or Additional Rules are ascribed. (d) For the avoidance of doubt, the other sub-accounts of the account n° IBAN XX00 0000 0000 0000 0000 are dedicated to other Registered Participants and such sub-accounts are not subject to the provisions of this Agreement.

Business Account. (a) The Business Account has been opened by the Allocation Platform with the Account Bank. The Business Account shall be managed, controlled and operated exclusively by the Allocation Platform. (b) The Business Account is a special dedicated account to which the Registered Participant shall pay all the amounts required under the Allocation Rules and/or Additional Rules and all the payments for the allocated Transmission Rights acquired or to be acquired by the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. The Registered Participant shall pay all the amounts and payments to the Business Account from an account in its name with a credit institution based in the European Union, United Kingdom, European Economic Area or a country in which the Allocation Platform performs cross border auction services. The Registered Participant is obliged to select a credit institution which is subject to customer due diligence standards that are not less than those laid down in Directive (EU) 2015/849 and which complies with them accordingly. (c) For the avoidance of doubt, the The Allocation Platform will pay to the bank account of the Registered Participant notified to the Allocation Platform in the Attachment 1 of the Participation Agreement, Business Account all remunerations and compensations to be paid by the Allocation Platform to the Registered Participant in accordance with the Allocation Rules and/or the Additional Rules. A single executed payment (and also underlying invoice/self-bill) will include all transactions irrespectively to which Allocation Rules or Additional Rules are ascribed. (d) For the avoidance of doubt, the other sub-accounts of the account n° IBAN XX00 0000 0000 0000 0000 are dedicated to other Registered Participants and such sub-accounts are not subject to the provisions of this Agreement.