DETERMINATION OF PRODUCT PRICE Sample Clauses

DETERMINATION OF PRODUCT PRICE. The price in USD per barrel of Product Delivered to meet the Nominated commitment of a Month shall be determined Monthly according to the following price formula: Where: P = Product price in USD per barrel for the Nominated Month of Delivery. S1 = Base price expressed in USD per barrel which shall consist of the simple average of the daily high and low or bid and asked market prices for Singapore or Singapore/Indonesia cracked, mixed/cracked or equivalent quality LSWR, as assessed on all dates of publication of [---] during the period beginning the 21st of the second Month immediately preceding the Nominated Month of Delivery and ending the 20th of the Month immediately preceding the Nominated Month of Delivery. S2 = The simple average of the high and low prices for Los Angeles Bunker C fuel as reported by the Xxxxx'x Oilgram Bunkerwire ("Xxxxx'x Bunkerwire") for all dates of publication during the period beginning the 21st Day of the second Month immediately preceding the Nominated Month of Delivery and ending the 20th Day of the Month immediately preceding the Nominated Month of Delivery, expressed in USD per barrel using a conversion factor of 6.368 barrels per metric ton. F1 = A factor for quality differential of Product Delivered such as sulfur content, where F1 = 0.10 * (S2 - (S1+R1)). F2 = The BTU Content of each Product Delivery pursuant to Article VII and Exhibit A, expressed in million BTUs per barrel with three significant figures to the right of the decimal point. F3 = A factor for tanker freight defined as follows: F3 = F5 + FRD1 + FRD2 Where F3 is a market index for freight, defined for each calendar quarter as the sum of: F5 = The simple average of the Average Freight Rate Assessment ("AFRA") Worldscale Points for the average of Large Range 1 vessels, as published Monthly by London Tanker Brokers Panel Limited for the three Monthly publications in the calendar quarter immediately preceding the calendar quarter of the Nominated Month of Delivery, multiplied by the Worldscale 100 rate for voyages between Singapore and Barbers Point, Hawaii, applicable to the Year of the quarter of the referenced AFRA data, expressed in New Worldscale rates, as published by Worldscale Associates (London Limited) in its New Worldscale Nominal Freight Scale (Worldscale). Monthly AFRA publications show rates of vessel voyages which occurred during the period beginning the 16th Day of the second Month immediately preceding that publication and ending the 15th Day o...
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Related to DETERMINATION OF PRODUCT PRICE

  • Product Price Termination under any of the above paragraphs shall not result in any change to unit prices for Products not terminated.

  • Product Prices The price for each Product is stated in Appendix A (Products) which prices include all Product costs payable by Purchaser (the “Product Price”). Where Supplier is arranging transportation and shipping, such expenses will be reflected in the price base on FCA port of export, Incoterms® 2020 rules. Taxes and additional amounts will be stated on the invoice and owed by Purchaser.

  • Product Pricing Contract Prices are the sum of annual Base Prices and Quarterly fuel surcharges, as detailed below. Pricing for shipments each month should be based on the Contract Prices for the most recent quarter.

  • Determination of Rates Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall notify the Lenders to which such interest is payable and the Borrower thereof. Each determination by the Administrative Agent of an interest rate or fee hereunder shall, except in cases of manifest error, be final, conclusive and binding on the parties.

  • Supply Price In event BTC exercises the Supply Option, the Supply Agreement shall afford Auxilium supply terms for Year 1 that are not less favorable than the average price afforded to Auxilium by the Back-Up Suppliers for the year immediately preceding the Supply Date and supply terms for each successive year that are not less favorable than the average price afforded to Auxilium by the Back-Up Suppliers for each preceding year as applicable.

  • Determination of Good Faith For purposes of any determination of whether Indemnitee acted in “good faith” Indemnitee shall be deemed to have acted in good faith if in taking or failing to take the action in question Indemnitee relied on the records or books of account of the Company or a Subsidiary or Affiliate, including financial statements, or on information, opinions, reports or statements provided to Indemnitee by the officers or other employees of the Company or a Subsidiary or Affiliate in the course of their duties, or on the advice of legal counsel for the Company or a Subsidiary or Affiliate, or on information or records given or reports made to the Company or a Subsidiary or Affiliate by an independent certified public accountant or by an appraiser or other expert selected by the Company or a Subsidiary or Affiliate, or by any other person (including legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably believes are within such other person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company or a Subsidiary or Affiliate. In connection with any determination as to whether Indemnitee is entitled to be indemnified hereunder, or to advancement of expenses, the Reviewing Party or court shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification or advancement of Expenses, as the case may be, and the burden of proof shall be on the Company to establish, by clear and convincing evidence, that Indemnitee is not so entitled. The provisions of this Section 8(g) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. In addition, the knowledge and/or actions, or failures to act, of any other person serving the Company or a Subsidiary or Affiliate as an Indemnifiable Person shall not be imputed to Indemnitee for purposes of determining the right to indemnification hereunder.

  • Yield Calculation The Bank will compute the performance results of the Fund (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), subject to the terms set forth below:

  • Manufacturing Costs In the event of termination by Merck pursuant to Section 6.2, 6.3 or 6.6 above, Merck shall be entitled to [*****] (as defined herein) incurred by Merck for its Compound Delivered for the Study. [*****]

  • Determination of Market Rent If Tenant timely and appropriately objects to the Market Rent in Tenant’s Acceptance, Landlord and Tenant shall attempt to agree upon the Market Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within twenty-one (21) days following Tenant’s Acceptance (“Outside Agreement Date”), then each party shall make a separate determination of the Market Rent which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

  • Determination of Purchase Price The Securities Administrator will be responsible for determining the Purchase Price for any Mortgage Loan that is sold by the Trust or with respect to which provision is made for the escrow of funds pursuant to this Section 2.03 and shall at the time of any purchase or escrow certify such amounts to the Depositor; provided that the Securities Administrator may consult with the Servicer to determine the Purchase Price unless the Servicer is the Purchaser of such Mortgage Loan. If, for whatever reason, the Securities Administrator shall determine that there is a miscalculation of the amount to be paid to the Trust, the Securities Administrator shall from monies in a Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Purchaser upon the discovery of such overpayment, and the Securities Administrator shall collect from the applicable Purchaser for deposit to the Securities Account any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Purchaser.

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