Common use of Revised Statements Clause in Contracts

Revised Statements. (a) For the purposes of preparing Revised Statements, the cut-off time for Trading Participants to provide the Operator with information relating to obligations performed under Transactions in a Billing Period is 9:00 am on the 1st Business Day of the 4th Billing Period after the end of that Billing Period. (b) By the 2nd Business Day of the 4th Billing Period after each Billing Period, the Operator must make available to each Market Participant a Revised Statement in respect of that Billing Period, based on the most recent information provided to the Operator as at the cut-off time under paragraph (a) and taking into account the outcome of any disputes resolved in respect of the Final Statement for that Billing Period. (c) Each Revised Statement (including any further Revised Statement issued under clause 18.5) must: (i) set out the revised amounts payable by or to the Market Participant for the relevant Billing Period; (ii) set out the amount of the adjustment to the net amount payable under the Final Statement for that Billing Period, plus interest at the Interest Rate, calculated as simple interest on a daily basis, for the period commencing on the day after the payment date for that Final Statement and ending on the payment date applicable to the Revised Statement, but taking into account any adjustments previously made as a result of an earlier Revised Statement for the same Billing Period; and (iii) include supporting data that is sufficient to enable each Market Participant to audit the calculation of any adjustment to its net amount payable.

Revised Statements. (a) For the purposes of preparing Revised Statements, the cut-off time for Trading Participants to provide the Operator with information relating to obligations performed under Transactions in a Billing Period is 9:00 am 9:00am on the 1st Business Day of the 4th Billing Period after the end of that Billing Period. (b) . By the 2nd Business Day of the 4th Billing Period after each Billing Period, the Operator must make available to each Market Participant a Revised Statement in respect of that Billing Period, based on the most recent information provided to the Operator as at the cut-off time under paragraph (a) and taking into account the outcome of any disputes resolved in respect of the Final Statement for that Billing Period. (c) . Each Revised Statement (including any further Revised Statement issued under clause 18.5) must: (i) : set out the revised amounts payable by or to the Market Participant for the relevant Billing Period; (ii) ; set out the amount of the adjustment to the net amount payable under the Final Statement for that Billing Period, plus interest at the Interest Rate, calculated as simple interest on a daily basis, for the period commencing on the day after the payment date for that Final Statement and ending on the payment date applicable to the Revised Statement, but taking into account any adjustments previously made as a result of an earlier Revised Statement for the same Billing Period; and (iii) and include supporting data that is sufficient to enable each Market Participant to audit the calculation of any adjustment to its net amount payable.

Revised Statements. (a) For the purposes of preparing Revised Statements, the cut-off time for Trading Participants to provide the Operator with information relating to obligations performed under Transactions in a Billing Period is 9:00 am 9:00am on the 1st Business Day of the 4th Billing Period after the end of that Billing Period. (b) By the 2nd Business Day of the 4th Billing Period after each Billing Period, the Operator must make available to each Market Participant a Revised Statement in respect of that Billing Period, based on the most recent information provided to the Operator as at the cut-off time under paragraph (a) and taking into account the outcome of any disputes resolved in respect of the Final Statement for that Billing Period. (c) Each Revised Statement (including any further Revised Statement issued under clause 18.5) must: (i) set out the revised amounts payable by or to the Market Participant for the relevant Billing Period; (ii) set out the amount of the adjustment to the net amount payable under the Final Statement for that Billing Period, plus interest at the Interest Rate, calculated as simple interest on a daily basis, for the period commencing on the day after the payment date for that Final Statement and ending on the payment date applicable to the Revised Statement, but taking into account any adjustments previously made as a result of an earlier Revised Statement for the same Billing Period; and (iii) include supporting data that is sufficient to enable each Market Participant to audit the calculation of any adjustment to its net amount payable.