Common use of Request and registration Clause in Contracts

Request and registration. (a) A Reallocation is initiated by a Reallocation Request lodged with the Operator by or on behalf of two Market Participants who have satisfied all eligibility requirements under the Reallocation Procedures, which may include entering into an agreement with the Operator in respect of the Reallocation process. (b) A Reallocation Request must contain the information required by the Reallocation Procedures and be lodged with the Operator in accordance with the Reallocation Procedures. (c) The Operator may refuse to register a Reallocation Request if: (i) a Default Event has occurred and is subsisting in respect of either of the parties to that request; or (ii) either party would be in breach of any applicable prudential requirements under clause 9 if the request were registered. (d) Otherwise, the Operator must register a valid Reallocation Request within the time specified in the Reallocation Procedures and may impose conditions on registration as contemplated by the Reallocation Procedures.