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Common use of The Contracting Parties Clause in Contracts

The Contracting Parties. Art. 1 The parties to the novation contract (hereinafter referred to as “the Novation Contract”) are, on the one hand, Bursa Română de Mărfuri - the Romanian Commodities Exchange, as the central counterparty (hereinafter referred to as “the Central Counterparty” or “the RCE”) and the participants to the centralized gas market. (hereinafter, individually referred to as “the Beneficiary Seller” or “the Seller”, respectively “the Beneficiary Buyer” or “the Buyer” and collectively “the Beneficiaries”), who do not have the status of Clearing Member or the MC Acceptance Agreement with the RCE as Central Counterparty and who concluded a transaction, (hereinafter referred to as “the Transaction”) on the medium and long-term products market, and was refused by their counterparty in the transaction. The above mentioned parties are hereinafter referred to individually as the ”the Party” and collectively ”the Parties”.

Appears in 3 contracts

Samples: Novation Contract, Novation Contract, Novation Contract