Common use of Profit Sharing Payment Clause in Contracts

Profit Sharing Payment. For each calendar month, a Profit Sharing Payment (“PSP”) is paid by ETP to MPC for volumes blended at the Bay City terminal. The PSP is calculated as the volume of gallons blended (“GB”) at Bay City in such month multiplied by fifty percent multiplied by the following value: (A) the volume weighted daily average of the high and low assessments of Argus posted Chicago Cycle 1 gasoline price (85 CBOB) minus (B) the volume weighted daily average of the high and low assessments of the OPIS posted Mt. Belvieu TET normal butane price minus (C) the average supply cost. Fee calculations pursuant to this Schedule 5.1 for butane blending services completed prior to July 1, 2019 shall not be affected by changes in the foregoing formulas.