Market Rules and Grid Code Sample Clauses

Market Rules and Grid Code. 5.1.1 The Parties agree that they shall each be bound by the Market Rules and Grid Code where applicable to the extent that the Market Rules and Grid Code (or the relevant parts of them) are mandatory in their application and no derogation from their application is permitted by the Relevant Authority. 5.1.2 The provisions of the Market Rules shall supersede the provisions of this Agreement in the event of a conflict if the relevant provisions are mandatory in their application and no derogation from their application is permitted by the Commission. 5.1.3 The provisions of the Grid Code shall apply to the Parties to the extent applicable. The provisions of the Grid Code shall supersede the provisions of this Agreement in the event of a conflict if the relevant provisions are mandatory in their application and no derogation from their application is permitted by the Commission. 5.1.4 In the event that the duration of each Settlement Period changes from one Hour to a lesser (or longer) period of time, then the Parties will make such modifications to this Agreement as are necessary to place the Parties in substantially the same position as the position they were in prior to the change to the duration of each Settlement Period.
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