Common use of Buyer’s Pricing Instructions to Seller Clause in Contracts

Buyer’s Pricing Instructions to Seller. On the Business Day prior to any day of pricing, Buyer shall advise Seller of the volume of Oil and Feedstock that Buyer is to price on that day and the Hedge-Month to be used for the pricing of that volume. Should Buyer fail to advise Seller of this information, the Parties understand that the Daily Default Pricing Volume for the current Month of Delivery and the prevailing front Month [REDACTED] contract shall be used for pricing.

Buyer’s Pricing Instructions to Seller. On the Business Day prior to any day of pricing, Buyer shall advise Seller of the volume of Oil and Feedstock that Buyer is to price on that day and the Hedge-Month to be used for the pricing of that volume. Should Buyer fail to advise Seller of this information, the Parties understand that the Daily Default Pricing Volume for the current Month of Delivery and the prevailing front Month [REDACTED] contract shall be used for pricing.