Common use of Credit Limit verification Clause in Contracts

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. 3. The Allocation Platform may apply additional criteria or rules shall indicate insufficient collaterals as the reason for the Bid exclusion in the Auction results notification to decide the Registered Participant. 4. The Allocation Platform shall continuously assess all the Bids irrespectively to which Auction and with regard to which Bidding Zone border and direction they are submitted. In case of Bids connected with various and overlapping Auctions the Allocation Platform shall consider all calculated maximum payment obligations as outstanding payment obligations according to Article 21. 5. For the calculation of the maximum payment obligations related to one Bidding Zone border and direction the Allocation Platform shall sort the registered Bids of a Registered Participant by Bid Price in descending order (merit-order). Bid 1 shall be rejected. Such additional criteria or rules the Bid with the highest Bid Price and Bid n shall be included the Bid with the lowest Bid Price. The Allocation Platform shall calculate the maximum payment obligations according to the following equation: 𝑀𝑃𝑂 = ∑ 𝑀𝐴𝑋 [𝐵𝑖𝑑𝑃𝑟𝑖𝑐𝑒(1) ∗ 𝐵𝑖𝑑𝑄𝑢𝑎𝑛𝑡𝑖𝑡𝑦(1); 𝐵𝑖𝑑𝑃𝑟𝑖𝑐𝑒(2) ∗ ∑ 𝐵𝑖𝑑𝑄𝑢𝑎𝑛𝑡𝑖𝑡𝑦(𝑖); … … ; 𝐵𝑖𝑑𝑃𝑟𝑖𝑐𝑒(𝑛 − 1) ∗ ∑ 𝐵𝑖𝑑𝑄𝑢𝑎𝑛𝑡𝑖𝑡𝑦(𝑖) ; 𝐵𝑖𝑑𝑃𝑟𝑖𝑐𝑒(𝑛) ∗ ∑ 𝐵𝑖𝑑𝑄𝑢𝑎𝑛𝑡𝑖𝑡𝑦(𝑖)] 𝑖=1 𝑖=1 6. When calculating the maximum payment obligations according to paragraph 5 of this Article, the Allocation Platform shall also take into account increase of the maximum payment obligations with applicable taxes and levies in the information System Rules and shall be one or more from the following:force subject to Article 48.

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following: (a) chronological submission (time stamp); and/or

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Single Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Single Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Single Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Single Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information Information System Rules and shall be one or more from the following: (a) chronological submission (time stamp); and/or (b) Bid identification assigned by the Auction Tool; and/or (c) rejection of all relevant Bids with the same Bid Price.

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (“MPO”) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations MPO connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one one (1) by one (1) excluded, until the maximum payment obligations are less than equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following: (c) chronological submission (time stamp); and/or (d) Bid identification assigned by the Auction Tool; and/or (e) rejection of all relevant Bids with the same Bid Price.

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid PriceValue, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following:one

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Single Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Single Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Single Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Single Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information Information System Rules and shall be one or more from the following: (a) chronological submission (time stamp); and/or (b) Bid identification assigned by the Auction Tool; and/or (c) rejection of all relevant Bids with the same Bid Price.

Credit Limit verification. 1. Upon submission by a Registered Participant of a Bid or set of Bids to the Auction Tool the Allocation Platform shall check whether the maximum payment obligations (MPO) connected with that Registered Participant’s registered Bid(s) calculated according to paragraph paragraphs 3 and 4 and 5 of this Article at the time of Bid(s) submission exceed the Credit Limit. If the maximum payment obligation connected with the such registered Bids exceed the Credit Limit, the Allocation Platform shall issue automatically via the Auction Tool a warning to the Registered Participant to modify the Credit Limit. Bids shall not be rejected automatically if the maximum payment obligation attributed to registered Bids exceeds the Credit Limit at Bid submission but only after the process described in paragraph 2 of this Article. 2. At closure of the Bidding Period the Allocation Platform shall confirm check again whether the maximum payment obligations connected with registered Bids calculated according to paragraph 5 4 of this Article exceed the Credit Limit. If the maximum payment obligations connected with these Bids exceed the Credit Limit, these Bids, starting with the Bid with the lowest Bid Price, shall be one (1) by one (1) excluded, until the maximum payment obligations are less than or equal to the Credit Limit. The Allocation Platform may apply additional criteria or rules to decide which Bid shall be rejected. Such additional criteria or rules shall be included in the information System Rules and shall be one or more from the following: (a) chronological submission (time stamp); and/or (b) Bid identification assigned by the Auction Tool; and/or (c) rejection of all relevant Bids with the same Bid Price.