EFET European Federation of Energy Traders - Netrion GmbH

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[…] the Exercise Deadline shall be:_____. §7 Non-Performance Due to Force Majeure § 7.1 Definition of Force Majeure: [X] § 7.1 shall apply as written in the General Agreement, or [ ] § 7.1 shall not apply as written but instead shall be as follows: __________________________________________________ § 7.5 Long Term Force Majeur Limit: A new § 7.5 is added at the end of § 7.4: Long Term Force Majeur Limit: Where in respect of an Individual Contract the obligations of the Claiming Party have been adversely affected by Force Majeur on each Day for a consecutive period of Days exceeding the Long Term Force Majeur Limit and by on average more than 50 (fifty) per cent of the contracted quantity during such period, then the Party which is not the Claiming Party shall have the right to terminate such Individual Contract forthwith by written notice to the Claiming Party. Such termination shall be without prejudice to the accrued rights and obligations of the Parties under such Individual Contract up to the date of termination but neither Party shall have any liability whatsoever to the other in respect of the unexpired portion of the Total Supply Period under such individual Contract after the date of termination. For the purposes of this clause "Long Term Force Majeure Limit" shall mean thirty (30) consecutive days or sixty (60) days in aggregate within a period of one calendar year, as the case may be." §10 Term and Termination Rights § 10.2 Expiration Date: [X] § 10.2 shall apply and there shall be no Expiration Date ______________, or [ ] § 10.2 shall not apply and there shall be no Expiration Date § 10.3 Termination for Material Reason: At the end of § 10.3. (b) the following words shall be inserted: „For the avoidance of doubt, the term 'damages' used in § 10.3 is based on the Parties’ common understanding, that a negative termination amount shall be payable to the terminating party (or in case of Automatic Termination, the party which has not triggered such termination), while a positive Termination Amount would be payable to the terminated party.“ A new § 10.3 (g) is added at the end of § 10.3 (f): g. If the Termination Amount (calculated pursuant to §11.1) is payable by the Terminating Party to the other Party then, at the discretion of such B Version 2.1(a) Copyright © 2007 by European Federation of Energy Traders
Terminating Party, the Termination Amount may be reduced by its setoff against any amounts payable by the other Party to the Terminating Party and/or the Terminating Party's Affiliates under any Specified Transactions between the other Party and the Terminating Party and/or the Terminating Party's Affiliates (the „Other Agreement Amount“). The Other Agreement Amount will be discharged automatically and in all respects to the extent of its set-off. If the Terminating Party elects to exercise its right to setoff under this § 10.3 (g) it shall give notice to the other Party latest together with the notification of the Termination and other agreement Amount. Nothing in this § 10.3 (g) shall be effective to create a charge or other security interest. Affiliates in respect of Party A shall exclusively be the following companies: Affiliates in respect of Party B shall exclusively be the following company: MVV Energie AG. § 10.4 Automatic Termination: [X] § 10.4 shall apply to Party A and Party B upon occurrence of a Material Reason as described in § 10(5)(c) (iv) with termination effective immediately prior to the institution of any said proceeding. § 10.5(b) Cross Default and Acceleration: [X] § 10.5 (b) shall apply to Party A and Party B as follows: “§ 10.5.(b) (i) and (ii) shall be deleted and replaced by the following: (i) any default, event of default or other similar condition or event (however described) in respect of such Party, such Party’s Credit Support Provider (if such Party has a Credit Support Provider) or such Party’s Controlling Party (if such party does not have a Credit Support Provider but has a Controlling Party) under one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the Threshold Amount (specified for that Party under § 10.5(b) (iii)) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable before it would otherwise have been due and payable, or (ii) a default by such Party or such Credit Support Provider or such Controlling Party (individually or collectively) to make one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount for that party under such agreements or instruments relating to Specified Indebtedness (after giving effect to any applicable notice requirement or grace period) and (iii) for the purpose of the above, the Threshold Amount shall be for for Party A: 3% of the Tangible Net Worth of Party A for Party B: 3% of the Tangible Net Worth of Party B’s Credit Support Provider § 10.5(c) Winding-up/lnsolvency/Attachment: In the first line of § 10.5(c), between the words “A Party” and “or its Credit Support Provider” the following words shall be inserted: “or, as the case may be, its Controlling Party”. C Version 2.1(a) Copyright © 2007 by European Federation of Energy Traders
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Page 7 and 8: § 12 Application of Limitation: [X
Page 9 and 10: § 17.2 Material Adverse Change: th
Page 11 and 12: Support Document issued or agreed o
Page 13 and 14: Fax No: +49 621 290 3141 Attention:

EFET European Federation of Energy Traders - Netrion GmbH

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