Common use of Buyer’s Obligations for Pricing Clause in Contracts

Buyer’s Obligations for Pricing. It is Buyer’s obligation through its pricing instructions to Seller, as detailed in (1) above, to ensure that, by the NYMEX closing time on the Business Day prior to the expiry day of any [REDACTED] futures contract (as set by [REDACTED]), that the Hedge-Month Pool for that futures contract shall have a zero balance. Any futures position outstanding after that deadline will be deemed to have been closed at the settlement price for that futures contract on that day, and a corresponding equal volume new position will have been deemed to have been opened for the next month’s [REDACTED] futures contract at the settlement price for that contract on that day.