✨ Financial Transaction Agreement Details
22 DECEMBER 2010 NEW ZEALAND GAZETTE, No. 177 4345
| Tranche/Block | Effective Date | Termination Date | Notional Quantity MW |
|---|---|---|---|
| • Block 4 | 00:00 hours on 1 | 24:00 hours on 31 | 17.1 |
| January 2022 | December 2024 |
3.3 Payments: In respect of each Block:
(a) in the case of the South Island Transaction, Genesis is the Fixed Price Payer and Meridian is the Floating Price Payer; and
(b) in the case of the North Island Transaction, Meridian is the Fixed Price Payer and Genesis is the Floating Price Payer.
- ISDA DOCUMENTS
4.1 Master Agreement and ISDA Schedule: On or prior to 1 January 2011, the Parties shall enter into:
(a) the Master Agreement; and
(b) the ISDA Schedule.
4.2 Confirmations: The Parties shall enter into a Confirmation in respect of each Transaction as soon as reasonably practicable following the Pricing Date for the Transaction. Each Transaction shall be effective from the applicable Effective Date notwithstanding that a Confirmation for the Transaction may not have been entered into by that date, unless this agreement has been terminated pursuant to clause 9.2 prior to the Effective Date.
4.3 Hierarchy of Transaction Documents: Notwithstanding anything to the contrary in any Transaction Document, in the event of any inconsistency between the provisions of any Confirmation and this agreement, the Confirmation will prevail.
- ANNUAL REVIEW OF PRICING
5.1 Each Party shall nominate a person ("Responsible Person") to determine the Fixed Price for each Transaction. The Responsible Persons shall, in relation to each Block:
(a) meet in the 5 Business Day period following the Pricing Date for the Transactions for the Block for the purpose of determining the Fixed Prices; and
(b) if the Responsible Persons are unable to reach agreement on the Fixed Prices for the Transactions for the Block within the 5 Business Day period, the Fixed Prices will be determined in accordance with the dispute resolution procedure set out in clause 10.
- ANNUAL MEETING REGARDING VAS TRANSACTION
6.1 Annual meeting: The Parties shall, if required in writing by either of them, make themselves available at least once a year to meet to discuss the VAS Transaction.
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NZ Gazette 2010, No 177
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🏭 Trade, Customs & IndustryTransaction, Tranche, Block, Effective Date, Termination Date, Notional Quantity