Annual Locked Product definition

Annual Locked Product means a Gas Product for which the cost of gas component of the Customer’s Charges is established prior to the start of the Procurement Year, and not subsequently reconciled on a Customer-specific basis. At the end of the Procurement Year that cost of gas is reconciled against the actual cost of gas achieved, but any adjustment as a result of such reconciliation is applied across the Charges due from or to that part of the Customer Portfolio on Annual Locked Products for the following Procurement Year. Annual Priced Supply means the Annual Locked Product and/or the Annual Variable Product. Annual Variable Product means a Gas Product for which the cost of gas component of the Customer’s Charges is established prior to the start of the Procurement Year, and then at the end of the Procurement Year that cost of gas is reconciled against the actual cost of gas achieved and any further payment due as a result of such reconciliation is due from or to the Customer. Applicable Law means any applicable, national, municipal or state statute, ordinance or other law (including tax), regulation or by-law of England and Wales or any part thereof, or the European Union or any instruction, direction, code of conduct, permit, consent, authorisation, licence (including any gas supply licence) or the directive of a Competent Authority.
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Annual Locked Product means a Gas Product for which the cost of gas component of a Customer’s Charges is established prior to the start of the Procurement Year, and not subsequently reconciled on a Customer-by-Customer basis. At the end of the Procurement Year that cost of gas is reconciled against the actual cost of gas achieved, but any adjustment as a result of such reconciliation is applied across the Charges due from or to Customers on Annual Locked Products for the following Procurement Year.
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Examples of Annual Locked Product in a sentence

  • In the event of termination of the Customer Contract during the Supply Year, the relevant Annual Reconciliation Amount shall be included as an adjustment to the Fixed Daily Charges in the Invoice Amount for all Committed Customers to the Price Setting Rounds for the Annual Locked Product in respect of the Supply Year immediately following the relevant Supply Year.

Related to Annual Locked Product

  • Tobacco product means any substance containing tobacco leaf, including but not limited to, cigarettes, cigars, pipe tobacco, hookah tobacco, snuff, chewing tobacco, dipping tobacco, bidis, blunts, clove cigarettes, or any other preparation of tobacco; and any product or formulation of matter containing biologically active amounts of nicotine that is manufactured, sold, offered for sale, or otherwise distributed with the expectation that the product or matter will be introduced into the human body by inhalation; but does not include any cessation product specifically approved by the U.S. Food and Drug Administration for use in treating nicotine or tobacco dependence.

  • Roll-on product means any antiperspirant or deodorant that dispenses active ingredients by rolling a wetted ball or wetted cylinder on the affected area.

  • Tobacco product manufacturer means an entity that after the date of enactment of this Act directly (and not exclusively through any affiliate):

  • Licensed Product means any method, process, composition, product, service, or component part thereof that would, but for the granting of the rights set forth in this Agreement, infringe a Valid Claim contained in the Licensed Patents.

  • Territory means worldwide.

  • Finished Product means a cannabis product in its final form to be sold at a retail premises.

  • Finished Products means any one or more of the following petroleum oils, or a mixture or combination of these oils, to be used without further processing except blending by mechanical means:

  • Covered Products means Your Applications, Libraries, Passes, Safari Extensions, Safari Push Notifications, and/or FPS implementations developed under this Agreement.

  • Product means any deliverable under the Contract, which may include commodities, services, technology or software.

  • Anti-Static Product means a product that is labeled to eliminate, prevent, or inhibit the accumulation of static electricity. “Anti-Static Product” does not include “Electronic Cleaner,” “Floor Polish or Wax,” “Floor Coating,” and products that meet the definition of “Aerosol Coating Product” or “Architectural Coating.”