Fall-back Spread Locking Mechanism Sample Clauses
Fall-back Spread Locking Mechanism. In case the SSO fails to make the Call for any remaining part of the Maximum Working Gas Volume by 16 June 2021 (including), then the fall-back Spread for such remaining part of the Maximum Working Gas Volume shall be locked automatically using an arithmetic average of Spreads during the last ten (10) Business Days of June 2021.
Fall-back Spread Locking Mechanism. A minimum of 25 % of the Maximum Working Volume allocated to respective storage season shall be locked for Spread by the last business day of March of relevant Call Period. In case the SSO does not make the Call for any remaining part of the 25 % of the Maximum Working Volume allocated to respective storage season by the end of the Business Day preceding the last five (5) Business Days of March of relevant Call Period (including), then the fall-back Spread for such remaining part of the 25 % of Maximum Working Volume allocated to respective storage season shall be locked automatically using an arithmetic average of Spreads during the last five (5) Business Days of March of relevant Call Period. Any remaining part of the Maximum Working Volume allocated to respective storage season shall be locked for Spread by the last Business Day of relevant Call Period. In case the SSO does not make the Call for any remaining part of the Maximum Working Volume allocated to respective storage season by the end of the Business Day preceding the last five (5) Business Days of relevant Call Period (including), then the fall-back Spread for such remaining part of the Maximum Working Volume allocated to respective storage season shall be locked automatically using an arithmetic average of Spreads during the last five (5) Business Days of relevant Call Period.