9.1 An event of default would deem to have occurred if the combined maximum bid volume placed for dealing in the Power Exchange(s) exceeds the quantity of valid RECs held by the eligible entity as per the records of the Central Agency.

9.2 In case a default by an eligible entity occurs, then, the Central Agency shall advise the Power Exchange(s) to exclude such bid(s) while working out the Market Clearing Price and the Market Clearing Volume in the current auction. Further, the list of the defaulting eligible entities would be made available on the website of the Central Agency.