Examples of EFET Agreement in a sentence
For the sake of clarity the Termination Amount in case of any other early termination of the Contract shall be calculated pursuant to § 11 (Calculation of the Termination Amount) of the EFET Agreement.
During the Total Supply Period at DPA, the Logistic Swap Provider shall pay the Customer for the Delivered Quantity at DPA in respect of each DPA Time Unit of each Month at the Contract Price (“Contract Price at DPA” or “CP-DPA”) in accordance with the provisions of §13 (Invoicing and Payment) of the EFET Agreement.
In case of inconsistencies between the Swap Transactions and the EFET Agreement, the Swap Transactions shall prevail.
In case of Party A, as with the provisions of § 13.3 (Payment Netting) of the EFET Agreement Party A is to be paid under the Contract, if the assignee of Party A is an Affiliate of Party A, then Parties agree that such assignee needs not to prove to be financially sound.
The terms of the EFET Agreement shall apply exclusively to the Swap Transactions, and are not to be used for other transactions between the Parties.
For the avoidance of doubt, the Parties hereby specify that, by signing this agreement, the EFET Agreement is entered into between the Parties with Effective Date corresponding to the date of signature of this agreement, as written in the paragraph immediately following Article 8 (Miscellaneous) of the Contract.
In case of Multi- Contracts at DPA, § 8.5(c), § 8.5(d); § 13.4, § 13.7 of the EFET Agreement shall only apply to i) the Default Quantity at DPA (if any) of the Swap Transaction under this Contract, and ii) the Delivered Quantity at DPA of the Swap Transaction under this Contract, as both determined under this Article 8.2, but assuming for the purposes of said § 8.5(c), § 8.5(d); § 13.4, § 13.7 there are no Individual Contracts at DPA other than the Swap Transaction under this Contract.
This means that although for international trade contracts such as an EFET Agreement between a UA company and a company incorporated outside of Ukraine the law governing the contract can be chosen freely, certain clauses of the EFET General Agreement should however be amended to avoid conflicts or unintended interpretation in accordance with mandatory Ukraine law.
As an alternative, the Weekly CQ Notice and the Daily CQ Notice shall be transmitted by the Customer to the Logistic Swap via e-mail to the Logistic Swap Provider’s email addresses indicated in § 23.2 (Notices, Invoices and Payments) of the EFET Agreement under the section Weekly/Daily CQ Notice and Scheduling at PSV (see Annex A).
In particular, energy markets participants, supported by the International Energy Credit Association, have worked together on drafting documentation and providing mechanisms to further reduce credit exposure; for example the EFET Agreement and its annexes.