Common use of Transfer of Obligation Clause in Contracts

Transfer of Obligation. In accordance with Art. II.10, XXXX allows the BSP to transfer part or all of his aFRR Obligation to one or several Counterpart BSP(s). Similarly, the BSP may agree to make an additional aFRR Capacity available to XXXX as a result of a Transfer of Obligation from a Counterpart BSP to the BSP.

Transfer of Obligation. In accordance with Art. II.10II.8, XXXX allows the BSP to transfer part or all of his aFRR FCR Obligation to one or several Counterpart BSP(s). Similarly, the BSP may agree to make an additional aFRR FCR Capacity available to XXXX as a result of a Transfer of Obligation from a Counterpart BSP to the BSP. This annex lays down the conditions under which the Transfer of Obligation may apply and defines the rules and procedure that XXXX, the BSP and the Counterpart BSP must respect in order to notify and validate said transfers.