Vote tallies here reflect individual votes, not the weight of the votes by market segment.
Affirmative votes are not recorded in these vote tallies. For additional details on the voting
record, please consult the Recommendation or Action Report, or the official vote tally if
available, as posted in the key documents.
This Nodal Protocol Revision Request (NPRR) reduces the cure period for failure to make payment or transfer funds, provide collateral or designate/maintain an association with a Qualified Scheduling Entity (QSE), to one Business Day subsequent to written notification of the breach. In addition, the NPRR clarifies that an Invoice payment from available security will be considered a Late Payment per Protocol Section 16.11.6; it eliminates discrepancies between Protocol and Standard Form Agreement language; and aligns terminology in Protocol Section 16.
Reducing the cure period allows reduction of the collateral posted by Counter-Parties to cover their risk during the cure period.Also, this NPRR provides clarification of the Late Payment status if past due Invoices are paid from existing collateral and contains clean-up items to ensure Protocol language with respect to Payment Breaches is consistent.