Common use of Suspension Events Clause in Contracts

Suspension Events. Each of the following events is a Suspension Event in relation to a Member: (a) the Operator has issued a Margin Call to that Member which remains outstanding; (b) there has been a material breach by the Member of any provision of the agreement which the Operator has by notice to the Member required the Member to remedy and which remains unremedied at the expiry of the period specified in the notice (being not shorter than 2 Business Days); or (c) a Default Event has occurred in relation to the Member and is subsisting; or (d) the Operator has reasonable grounds to believe the Member is no longer eligible to be a Member or to trade in a Product, and the Member has failed to give the Operator information to verify its continued eligibility within 2 Business Days of the Operator requesting that information from the Member; or (e) in respect of any obligation of a Trading Participant to deliver or accept delivery of Physical Gas under this agreement, the Operator has reasonable grounds to believe that the amount of the Delivery Variance Quantity for which that Trading Participant is responsible is equal to 25% or more of the Delivery Quantity, and such an event has occurred on three or more occasions in any rolling six month period without reasonable explanation.

Suspension Events. Each of the following events is a Suspension Event in relation to a Member: (a) the Operator has issued a Margin Call to that Member which remains outstanding; (b) there has been a material breach by the Member of any provision of the agreement which the Operator has by notice to the Member required the Member to remedy and which remains unremedied at the expiry of the period specified in the notice (being not shorter than 2 Business Days); or (c) a Default Event has occurred in relation to the Member and is subsisting; or (d) the Operator has reasonable grounds to believe the Member is no longer eligible to be a Member or to trade in a Product, and the Member has failed to give the Operator information to verify its continued eligibility within 2 Business Days of the Operator requesting that information from the Member; or; (e) in respect of any obligation of a Trading Participant to deliver or accept delivery of Physical Gas under this agreement, the Operator has reasonable grounds to believe that the amount of the Delivery Variance Quantity for which that Trading Participant is responsible is equal to 25% or more of the Delivery Quantity, and such an event has occurred on three or more occasions in any rolling six month period without reasonable explanation; or (f) in respect of a Broker Participant, the Broker Participant has submitted or confirmed a Broker Pre-matched Trade with a Trading Participant and has not submitted or confirmed a matching Broker Pre-matched Trade with another Trading Participant in accordance with clause 13.3.

Suspension Events. Each of the following events is a Suspension Event in relation to a Member: (a) the Operator has issued a Margin Call to that Member which remains outstanding; (b) there has been a material breach by the Member of any provision of the agreement which the Operator has by notice to the Member required the Member to remedy and which remains unremedied at the expiry of the period specified in the notice (being not shorter than 2 Business Days); or (c) a Default Event has occurred in relation to the Member and is subsisting; or (d) the Operator has reasonable grounds to believe the Member is no longer eligible to be a Member or to trade in a Product, and the Member has failed to give the Operator information to verify its continued eligibility within 2 Business Days of the Operator requesting that information from the Member; or; (e) in respect of any obligation of a Trading Participant to deliver or accept delivery of Physical Gas under this agreement, the Operator has reasonable grounds to believe that the amount of the Delivery Variance Quantity for which that Trading Participant is responsible is equal to 25% or more of the Delivery Quantity, and such an event has occurred on three or more occasions in any rolling six month period without reasonable explanation; or (f) in respect of a Broker Participant, the Broker Participant has submitted or confirmed a Broker Pre-matched Trade with a Trading Participant and has not submited or confirmed a matching Broker Pre-matched Trade with another Trading Participant in accordance with clause 13.3.

Suspension Events. Each of the following events is a Suspension Event in relation to a Member: (a) the Operator has issued a Margin Call to that Member which remains outstanding;; or (b) there has been a material breach by the Member of any provision of the agreement which the Operator has by notice to the Member required the Member to remedy and which remains unremedied at the expiry of the period specified in the notice (being not shorter than 2 Business Days); or (c) a Default Event has occurred in relation to the Member and is subsisting; or (d) the Operator has reasonable grounds to believe the Member is no longer eligible to be a Member or to trade in a Product, and the Member has failed to give the Operator information to verify its continued eligibility within 2 Business Days of the Operator requesting that information from the Member; or (e) in respect of any obligation of a Trading Participant to deliver or accept delivery of Physical Gas under this agreement, the Operator has reasonable grounds to believe that the amount of the Delivery Variance Quantity for which that Trading Participant is responsible is equal to 25% or more of the Delivery Quantity, and such an event has occurred on three or more occasions in any rolling six month period without reasonable explanation; or (f) in respect of a Broker Participant, the Broker Participant has submitted or confirmed a Broker Pre-matched Trade with a Trading Participant and has not submitted or confirmed a matching Broker Pre-matched Trade with another Trading Participant in accordance with clause 13.3.

Suspension Events. Each of the following events is a Suspension Event in relation to a Member: (a) the Operator has issued a Margin Call to that Member which remains outstanding;; or (b) there has been a material breach by the Member of any provision of the agreement which the Operator has by notice to the Member required the Member to remedy and which remains unremedied at the expiry of the period specified in the notice (being not shorter than 2 Business Days); or (c) a Default Event has occurred in relation to the Member and is subsisting; or (d) the Operator has reasonable grounds to believe the Member is no longer eligible to be a Member or to trade in a Product, and the Member has failed to give the Operator information to verify its continued eligibility within 2 Business Days of the Operator requesting that information from the Member; or (e) in respect of any obligation of a Trading Participant to deliver or accept delivery of Physical Gas under this agreement, the Operator has reasonable grounds to believe that the amount of the Delivery Variance Quantity for which that Trading Participant is responsible is equal to 25% or more of the Delivery Quantity, and such an event has occurred on three or more occasions in any rolling six month period without reasonable explanation; or (f) in respect of a Broker Participant, the Broker Participant has submitted or confirmed a Broker Pre- matched Trade with a Trading Participant and has not submitted or confirmed a matching Broker Pre- matched Trade with another Trading Participant in accordance with clause 13.3.