Settlement for daily auctions Sample Clauses

Settlement for daily auctions. Settlement for daily auctions is performed directly after the publication of the auction results. The System Operator is paid from deposit sub account appertaining to the Auction Participant in the entire amount of liabilities arising from the auction in question. Invoices are sent on the monthly basis for information/accounting purpose only. Auction Participant, who provided Bank Guarantee as an alternative to the use of deposit sub account, shall be invoiced on a monthly basis. The copy of the invoice will be sent by fax and subsequently by post. Invoices have to be paid no later than eight (8) days upon issuing. After the payment of the invoice the value of the Bank Guarantee will be increased for the paid value.
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Settlement for daily auctions. Deposit Sub account Coverage and financial settlement performed at the daily auctions are run through deposit sub account. Deposit sub account is a special type of bank account which is opened by ELES on its own bank account for Auction Participant willing to participate at daily auctions. Deposit sub accounts are kept in euro (EUR) currency. Only the Auction Operator has a power of disposal with financial assets kept on deposit sub accounts, namely on the basis of Irrevocable Authorization (see ANNEX V) given by the Auction Participant which thus authorizes the Auction Operator to dispose of these financial assets for the purposes of coverage and financial settlement arising from the daily auctions. Interests on financial assets kept on deposit sub accounts appertain to the holders of these sub accounts at the interest rate defined with a respective decree on interest rates in force and is- sued by the bank. The interests are remitted by the bank onto the deposit sub accounts of the Auction Participants on the monthly basis. In the event the Auction Participant wishes to withdraw financial assets or a part of the financial assets from his sub account, a written request has to be sent to the Auction Operator. Financial assets are returned to the bank account of the Auction Participant stated on the Auction Partici- pants Application form within five (5) Working Days counting from the day when the request was received by the Auction Operator. The handling costs of the deposit sub accounts are covered by the Auction Operator.
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Settlement for daily auctions. HEP OPS charges the liabilities arising from allocated transfer capacities at daily auctions after the use of transfer capacity, for the first half of the current month by the 20th day of the current month, and for the second half of the month by the 5th of the following month. In case the amount for the first half of the month is less than 500,00 HRK we issue one invoice for the whole period.
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Settlement for daily auctions. Settlement for daily auctions is performed after the auction gate closure. The System Operator is paid from deposit sub account appertaining to the Auction Participant in the entire amount of liabilities arising from the auction in question. Auction Participant, who provided bank guarantee as an alternative to the use of deposit sub account, shall be invoiced on a weekly basis. The copy of the invoice will be sent by fax and subsequently by post. Invoices have to be paid no later than eight (8) days upon issuing.
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Settlement for daily auctions. Coverage for daily auctions The participants of daily auctions need to keep financial resources on their deposit sub ac- counts/Bank Guarantee as collateral for fulfilling the liabilities arising from allocated transfer capacities. Bank Guarantee has to be provided to the Auction Operator according to the Xxxxx XX. Before each auction, the Auction Operator submits into Auction Tool all the information on net balance of financial assets kept on deposit sub accounts of the Auction Participants, namely by taking into account the net balance on deposit sub accounts at 6:00 am of the Auction day and disregarding any individual transfers or eventual changes in sub accounts’ balance recorded after that time. For Auction Participants who provided Bank Guarantee as an alternative to the use of deposit sub account, the Auction Operator submits into Auction Tool the amount of its Bank Guarantee. Auction Participant may place their bids at an auction; however, the amount of the said bids (together with VAT which is added automatically by the Auction Tool) may not exceed the bal- ance of financial assets kept on deposit sub account/Bank Guarantee. Available coverage of the Auction Participant is decreased with each submitted bid. The value of a bid which exceeds the available coverage is rejected and the Auction Participant is informed accordingly. Auction Par- ticipants have an insight into current balance of financial assets on their deposit sub ac- count/Bank Guarantee via Auction Tool. In the event the Auction Participant decides to participate at a number of auctions which are held at the same time, the bids placed at every auction – at which the participant partakes – are deducted from the available balance of financial assets kept on deposit sub account/Bank Guar- xxxxx or coverage of individual participant.
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Related to Settlement for daily auctions

  • Electronic Auctions Where a procuring entity intends to conduct a covered procurement using an electronic auction, the entity shall provide each participant, before commencing the electronic auction, with:

  • E-AUCTIONS 4.1 The Contracting Body shall be entitled to formulate its Statement of Requirements in accordance with paragraph 3 above and invite the Supplier to a further competition using a reverse auction in accordance with the rules laid down by the Contracting Body in accordance with the Regulations prior to the commencement of any such further competition.

  • BEFORE AUCTION 4.1 All intended bidder can access to the ESZAM AUCTIONEER SDN BHD website to download the Proclamation of Sale (POS) & Conditions of Sale (COS). By proceeding with E-bidding with ESZAM AUCTIONEER SDN BHD, the E-bidders’ have agreed and accepted the ESZAM AUCTIONEER SDN BHD terms and conditions. Any bid by registered E-bidder shall not be withdrawn once entered.

  • AFTER AUCTION 6.1 Any successful E-bidders shall and undertake to sign the contract of sale and pay the additional 10% for the difference of the purchase price within two (2) working days to ESZAM AUCTIONEER SDN BHD bank account or prepare a bank draft. In the event that the successful E-bidder fail to pay additional deposit, the Bank will forfeit the deposit and the sale will be deemed cancelled/terminated and the property may be put up for subsequent auction without further notice to the said E-bidders.

  • Payment for TIPS Sales TIPS Members may make payments for TIPS Sales directly to Vendor, Vendor’s Authorized Reseller, or as otherwise agreed to in the applicable Supplemental Agreement after receipt of the invoice and in compliance with applicable payment statutes. Regardless of how payment is issued or received for a TIPS Sale, Vendor is responsible for all reporting and TIPS Administration Fee payment requirements as stated herein.

  • Acceptance Procedures Based on the Reply Prices and Reply Amounts received by the Auction Agent prior to the applicable Auction Response Date, the Auction Agent, in consultation with the Auction Party, will determine the applicable price (the “Applicable Price”) for the Auction, which will be the lowest Reply Price for which the Auction Party can complete the Auction at the Auction Amount; provided that, in the event that the Reply Amounts are insufficient to allow the Auction Party to complete a purchase of the entire Auction Amount (any such Auction, a “Failed Auction”), the Auction Party shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Price equal to the highest Reply Price. The Auction Party shall purchase the relevant Term Loans (or the respective portions thereof) from each Lender with a Reply Price that is equal to or lower than the Applicable Price (“Qualifying Bids”) at the Applicable Price; provided that if the aggregate proceeds required to purchase all Term Loans subject to Qualifying Bids would exceed the Auction Amount for such Auction, the Auction Party shall purchase such Term Loans at the Applicable Price ratably based on the principal amounts of such Qualifying Bids (subject to rounding requirements specified by the Auction Agent in its discretion). If a Lender has submitted a Return Bid containing multiple bids at different Reply Prices, only the bid with the lowest Reply Price that is equal to or less than the Applicable Price will be deemed to be the Qualifying Bid of such Lender (e.g., a Reply Price of $100 with a discount to par of 1%, when compared to an Applicable Price of $100 with a 2% discount to par, will not be deemed to be a Qualifying Bid, while, however, a Reply Price of $100 with a discount to par of 2.50% would be deemed to be a Qualifying Bid). The Auction Agent shall promptly, and in any case within five Business Days following the Auction Response Date with respect to an Auction, notify (I) the Borrower of the respective Lenders’ responses to such solicitation, the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount of the Term Loans and the tranches thereof to be purchased pursuant to such Auction, (II) each participating Lender of the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount and the tranches of Term Loans to be purchased at the Applicable Price on such date, (III) each participating Lender of the aggregate principal amount and the tranches of the Term Loans of such Lender to be purchased at the Applicable Price on such date and (IV) if applicable, each participating Lender of any rounding and/or proration pursuant to the second preceding sentence. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Borrower and Lenders shall be conclusive and binding for all purposes absent manifest error.

  • RESERVE PRICE AND BIDDING AT AUCTION CONDITIONS OF SALE

  • Non-Marketing Purposes Thoughtcloud, Inc. greatly respects your privacy. We do maintain and reserve the right to contact you if needed for non-marketing purposes (such as bug alerts, security breaches, account issues, and/or changes in Thoughtcloud, Inc. products and services). In certain circumstances, we may use our website, newspapers, or other public means to post a notice. Children under the age of 13 Thoughtcloud, Inc.'s website and mobile applications are not directed to, and does not knowingly collect personal identifiable information from, children under the age of thirteen (13). If it is determined that such information has been inadvertently collected on anyone under the age of thirteen (13), we shall immediately take the necessary steps to ensure that such information is deleted from our system's database, or in the alternative, that verifiable parental consent is obtained for the use and storage of such information. Anyone under the age of thirteen (13) must seek and obtain parent or guardian permission to use this website.

  • Acceptance Procedure Lessor hereby authorizes one or more employees of the related Lessee, to be designated by such Lessee, as the authorized representative or representatives of Lessor to accept delivery on behalf of Lessor of that Leased Property identified on the applicable Funding Request. Each Lessee hereby agrees that such acceptance of delivery by such authorized representative or representatives and the execution and delivery by such Lessee on each Closing Date for property to be leased hereunder of a Lease Supplement in substantially the form of Exhibit A hereto (appropriately completed) shall, without further act, constitute the irrevocable acceptance by such Lessee of that Leased Property which is the subject thereof for all purposes of this Lease and the other Operative Documents on the terms set forth therein and herein, and that such Leased Property, together with, in the case of Land, any Building or other improvements thereon or to be constructed thereon pursuant to the Construction Agency Agreement, shall be deemed to be included in the leasehold estate of this Lease and shall be subject to the terms and conditions of this Lease as of such Closing Date. The demise and lease of each Building pursuant to this Section 2.2 shall include any additional right, title or interest in such Building which may at any time be acquired by Lessor, the intent being that all right, title and interest of Lessor in and to such Building shall at all times be demised and leased to the related Lessee hereunder.

  • POST ONLINE PUBLIC AUCTION PROCEDURES 4.1. Successful E-bidders shall and undertake to sign the Memorandum of Sale at the office of the Auctioneer within 3 working days from the date of auction, failing which the deposit paid will be forfeited to the Assignee bank and the sale will be deemed cancelled/terminated and the property may be put up again for subsequent auction without further notice to the said E-Bidders. The Auctioneer shall send the Memorandum of Sale for stamping and thereafter forward the same together with the required deposit paid under Clause 2.4 above and the differential sum paid under this clause (if any) to the Assignee bank.

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