Glossary Term: Party Daily Reallocation Proportion

For the purposes of The Code, in relation to any Trading Party and any Settlement Day, the “Party Daily Reallocation Proportion” is the proportion determined as: RCRCp / ∑p RCRCp where ∑p represents the sum over all Trading Parties. It is acknowledged that in certain circumstances the value of Party Daily Reallocation Proportion for a Trading Party might be negative, in which case any reference (in any Contingency Provision) to a liability of that Trading Party as to its Party Daily Reallocation Proportion of any amount shall be construed as an entitlement. In the application of any Contingency Provision the Party Daily Reallocation Proportions shall be determined by reference to values of Daily Party Residual Settlement Cashflow determined in the Settlement Run (excluding the Interim Information Settlement Run) last carried out for the relevant Settlement Day before such proportions are to be determined, and shall not (unless the Panel decides otherwise) subsequently be revised. Has the meaning given to that term in Section G1.3.

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