Common use of Default Bid for Fallback Auction Clause in Contracts

Default Bid for Fallback Auction. 1. In case an auction cannot take place, a Fallback Auction will be triggered by using default bids. 2. A default Bid shall apply automatically in simulation of an Auction as set forth in Article 42. The registered default Bid shall be considered as a Bid submitted by the Registered Participant for the relevant Fallback Auction. This Bid shall be considered as delivered when the Allocation Platform sends an acknowledgment of receipt to the Registered Participant. 3. If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price shall be rejected one by one until the total allowed Bid Quantity is reached.

Default Bid for Fallback Auction. 1. In case an auction cannot take place, a Fallback Auction will be triggered by using default bids. 2. A default Bid shall apply automatically in simulation of an Auction as set forth in Article 42. The registered default Bid shall be considered as a Bid submitted by the Registered Participant for the relevant Fallback Auction. This Bid shall be considered as delivered when the Allocation Platform sends an acknowledgment of receipt to the Registered Participant. 3. If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price Value shall be rejected one by one until the total allowed Bid Quantity is reached.

Default Bid for Fallback Auction. 1. In case an auction cannot take place, a The Registered Participant has the option to place or modify default Bids for Fallback Auction will be triggered by using default bidsAuction. 2. A default Bid shall apply automatically in simulation of an Auction as set forth in Article 42. The registered default Bid shall be considered as a Bid submitted by the Registered Participant for the relevant Fallback Auction. This Bid shall be considered as a delivered when the Allocation Platform sends an acknowledgment of receipt to the Registered Participant. 3. If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price shall be rejected one by one until the total allowed Bid Quantity is reached.

Default Bid for Fallback Auction. 1. In case an auction Auction cannot take place, a Fallback Auction will be triggered by using default bidsBids. 2. A default Bid shall apply automatically in simulation of an Auction as set forth in Article 42. The registered default Bid shall be considered as a Bid submitted by the Registered Participant for the relevant Fallback Auction. This Bid shall be considered as delivered when the Allocation Platform sends an acknowledgment of receipt to the Registered Participant. 3. If a default Bid Quantity or a quantity calculated as a sum of the Bid Quantity for several default Bids submitted for the Fallback Auction by a Registered Participant exceeds the Offered Capacity used for Auction simulation as set forth in Article 42, the Bids with the lowest Bid Price shall be rejected one (1) by one (1) until the total allowed Bid Quantity is reached.