Common use of Calculation of Floating Contract Prices Clause in Contracts

Calculation of Floating Contract Prices. In the event the Contract Price is based on an index, exchange or any other kind of variable reference price (such price being a "Floating Price") the Contract Price shall be determined on the Settlement Date at the Settlement Price as specified in the applicable Individual Contract. The Settlement Price shall be determined in accordance with the Calculation Method on the Calculation Date as specified in the Individual Contract. The Calculation Date is the date specified as such in the Individual Contract on which the Settlement Price for the specific delivery is determined. The Calculation Agent shall provide prompt notice of the Settlement Price determined as well as the amount to be paid on the Due Date. Payment shall be made pursuant to § 13 (Invoicing and Payment).

Calculation of Floating Contract Prices. In the event the Contract Price is based on an index, exchange or any other kind of variable reference price (such price being a "“Floating Price"”) the Contract Price shall be determined on the Settlement Date at the Settlement Price as specified in the applicable Individual Contract. The Settlement Price shall be determined in accordance with the Calculation Method on the Calculation Date as specified in the Individual Contract. The Calculation Date is the date specified as such in the Individual Contract on which the Settlement Price for the specific delivery is determined. The Calculation Agent shall provide prompt notice of the Settlement Price determined as well as the amount to be paid on the Due Date. Payment shall be made pursuant to § 13 (Invoicing and Payment).