Modifications of the collaterals. 1. A Registered Participant may request in written form an increase of the collaterals in form of a Bank Guarantee, a decrease of the collaterals in form of a Bank Guarantee and/or cash deposit or change of the form of the collaterals at any time in accordance to paragraphs 2 and 3 of this Article.
2. A decrease of the collaterals of a Registered Participant shall only be allowed if the Credit Limit after applying the requested decrease of the collaterals would be greater than or equal to zero.
3. The Allocation Platform shall accept the modification of the collaterals if the request for a modification of collaterals is compliant with the condition set out in paragraph 2 of this Article in case of a decrease or with the conditions set out in Articles 19 and 20 in case of an increase of collaterals in the form of a Bank Guarantee and in case of a change in the form of the collaterals from cash on deposit to Bank Guarantee.
4. The modification of the collaterals shall become valid and effective only when the Allocation Platform has made the requested modification of the collaterals of the Registered Participant within the Auction tool.
5. The Allocation Platform shall assess the request for modification of collaterals and confirm the acceptance or send a refusal note to the Registered Participant, at the latest, two (2) Working Days after the receipt of the request. The confirmation or refusal note shall be sent via email to the commercial and operational contact persons specified by the Registered Participant in accordance with Article 8. The refusal note shall include reasoning for refusal.
Modifications of the collaterals. 1. A Registered Participant may request in written form an increase of the collaterals in form of a Bank Guarantee, a decrease of the collaterals in form of a Bank Guarantee and/or cash deposit or change of the form of the collaterals at any time in accordance to paragraphs 2 and 3 of this Article.
Modifications of the collaterals. 1. A Registered Participantregistered participant may request in written form an increase of the collaterals in form of a Bank Guaranteebank guarantee, a decrease of the collaterals in form of a Bank Guaranteebank guarantee and/or cash deposit or change of the form of the collaterals at any time in accordance to paragraphs 2 and 3 of this Article.
2. A decrease of the collaterals of a Registered Participantregistered participant shall only be allowed if the Credit Limitcredit limit after applying the requested decrease of the collaterals would be greater than or equal to zero.
3. The Allocation Platformallocation platform shall accept the modification of the collaterals if the request for a modification of collaterals is compliant with the condition set out in paragraph 2 of this Article in case of a decrease or with the conditions set out in Articles 18 and 19 in case of an increase of collaterals in the form of a Bank Guaranteebank guarantee and in case of a change in the form of the collaterals from cash on deposit to Bank Guaranteebank guarantee.
4. The modification of the collaterals shall become valid and effective only when the Allocation Platformallocation platform has made the requested modification of the collaterals of the Registered Participantregistered participant within the Auctionauction tool.
5. The Allocation Platformallocation platform shall assess the request for modification of collaterals and confirm the acceptance or send a refusal note to the Registered Participantregistered participant, at the latest, four (4) Working Dayworking days after the receipt of the request. The confirmation or refusal note shall be sent via electronic means as specified by the Allocation Platformallocation platform on its website. The refusal note shall include reasoning for refusal.
Modifications of the collaterals.
1. A registered participant may request in written form an increase of the collaterals in form of a bank guarantee, a decrease of the collaterals in form of a bank guarantee and/or cash deposit or change of the form of the collaterals at any time in accordance to paragraphs 2 and 3 of this Article.
2. A decrease of the collaterals of a registered participant shall only be allowed if the credit limit after applying the requested decrease of the collaterals would be greater than or equal to zero.
3. The allocation platform shall accept the modification of the collaterals if the request for a modification of collaterals is compliant with the condition set out in paragraph 2 of this Article in case of a decrease or with the conditions set out in Articles 18 and 19 in case of an increase of collaterals in the form of a bank guarantee and in case of a change in the form of the collaterals from cash on deposit to bank guarantee.
4. The modification of the collaterals shall become valid and effective only when the allocation platform has made the requested modification of the collaterals of the registered participant within the auction tool.
5. The allocation platform shall assess the request for modification of collaterals and confirm the acceptance or send a refusal note to the registered participant, at the latest, four (4) working days after the receipt of the request. The confirmation or refusal note shall be sent via electronic means as specified by the allocation platform on its website. The refusal note shall include reasoning for refusal.
