Applicable Reference Price of Crude Oil definition

Applicable Reference Price of Crude Oil means, the settlement price of the Light Sweet Crude Oil Futures Contract, as established and reported by NYMEX on a per barrel basis in U.S. dollars at the end of each Price Determination Day based upon the trading that has occurred in that contract by open outcry and that has been published to the consolidated tape or publicly disseminated; provided, that if NYMEX abandons its open outcry format for the Light Sweet Crude Oil Futures Contract, the Applicable Reference Price of Crude Oil shall be based on trading of the Light Sweet Crude Oil Futures Contract on the substitute electronic trading platform established by NYMEX, and, in the event that the NYMEX License has been terminated by NYMEX and MacroMarkets LLC and the Depositor have successfully negotiated a license
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Applicable Reference Price of Crude Oil means the settlement price of the Light Sweet Crude Oil Futures Contract, as established and reported by NYMEX on a per barrel basis in U.S. dollars at the end of each Price Determination Day based upon the trading that has occurred in that contract by open outcry and that has been published to the consolidated tape; provided, that if NYMEX abandons its open outcry format for the Light Sweet Crude Oil Futures Contract, the Applicable Reference Price of Crude Oil is based on trading of the Light Sweet Crude Oil Futures Contract on the substitute electronic trading platform established by NYMEX, and, in the event that the NYMEX license has been terminated by NYMEX and MacroMarkets LLC and the depositor have successfully negotiated a license with a Substitute Oil Price Provider, the settlement price for the Substitute Reference Oil Price that is established for each Price Determination Day, as provided in such license.
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Applicable Reference Price of Crude Oil. Has the meaning set forth in the Up-MACRO Holding Trust Agreement and the Down-MACRO Holding Trust Agreement.
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Examples of Applicable Reference Price of Crude Oil in a sentence

  • Ending Level: With respect to any Price Determination Day, the Applicable Reference Price of Crude Oil on such Price Determination Day.

  • Intraday indicative values for the Underlying Value of the Up-MACRO Holding Trust based on the intraday trading prices of the Applicable Reference Price of Crude Oil will be calculated by the Calculation Agent under the Calculation Agency Agreement.

  • Settlement Payment Payer: If the Applicable Reference Price of Crude Oil on the Price Determination Day preceding (i) the Final Scheduled Termination Date, (ii) an Early Termination Date or (iii) the Redemption Date for a Paired Optional Redemption (the dates specified in (i), (ii) and (iii) above, each a "Relevant Measurement Date" for the Settlement Contract) is above its Starting Level, the Down Trust will pay the Down Settlement Payment to the Up Trust on the relevant Settlement Payment Date.

  • The calculations in clauses (ii) and (v) for any day that was not a Price Determination Day shall be made using the Applicable Reference Price of Crude Oil on the last preceding Price Determination Day.

  • If the Applicable Reference Price of Crude Oil as of the Relevant Measurement Date (as described in the preceding sentence) is below its Starting Level, the Up Trust will pay the Up Settlement Payment to the Down Trust on the relevant Settlement Payment Date.

  • Daily settlement prices for the oil futures contract designated as the Applicable Reference Price of Crude Oil for the Shares is publicly available on NYMEX’s Web site.The Commission believes that theproposal to list and trade the Shares is reasonably designed to promote fairformation.

  • The Exchange currently has in place a comprehensive surveillance sharing agreement with the NYMEX for the purpose of providing information in connection with trading in, or related to, futures contracts traded on the NYMEX that will serve as the Applicable Reference Price of Crude Oil.

  • Applicable Reference Price of Crude Oil: Has the meaning set forth in the Up-MACRO Holding Trust Agreement and the Down-MACRO Holding Trust Agreement.


More Definitions of Applicable Reference Price of Crude Oil

Applicable Reference Price of Crude Oil means, the settlement price of the Light Sweet Crude Oil Futures Contract, as calculated and reported by NYMEX on a per barrel basis in U.S. dollars at the end of each Price Determination Day based upon the trading that has occurred in that contract by open outcry and that has been published to the consolidated tape or publicly disseminated; provided, that if NYMEX abandons its open outcry format for the Light Sweet Crude Oil Futures Contract, the Applicable Reference Price of Crude Oil shall be based on trading of the Light Sweet Crude Oil Futures Contract on the substitute electronic trading platform calculated by NYMEX, and, in the event that the NYMEX License has been terminated by NYMEX and MacroMarkets LLC and the Depositor have successfully negotiated a license with a Substitute Oil Price Provider, the settlement price for the Substitute Reference Oil Price that is calculated for each Price Determination Day, as provided in such license.
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Applicable Reference Price of Crude Oil means, initially, the Light Sweet Crude Oil Price and, in the event that the NYMEX Sublicensing Agreement is terminated by NYMEX, a Substitute Crude Oil Price.
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Related to Applicable Reference Price of Crude Oil

  • Relevant Reference Price means the Reference Price on the Final Valuation Date. "Security Holder" means the holder of a Security.

  • Reference Price means the Reference Price of the Underlying as specified in § 1 of the Product and Underlying Data.

  • Reference Pricei means the Reference Pricei of the relevant Basket Componenti as specified in

  • Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.

  • Fallback Reference Price (if the relevant parties have specified an alternate Commodity Reference Price in the Confirmation);

  • Nodal Reference Price at each location shall mean the 97th percentile price differential between day-ahead and real-time prices experienced over the corresponding two-month reference period in the prior calendar year. Reference periods will be Jan-Feb, Mar-Apr, May- Jun, Jul-Aug, Sept-Oct, Nov-Dec. For any given current-year month, the reference period months will be the set of two months in the prior calendar year that include the month corresponding to the current month. For example, July and August 2003 would each use July- August 2002 as their reference period.

  • Initial Reference Price means the official closing price of the Underlying Share on Strike Date.

  • Applicable Revolver Index Margin means the per annum interest rate margin from time to time in effect and payable in addition to the Index Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Final Reference Price means an amount (which shall be deemed to be a monetary value in the Underlying Currency) equal to the level of the Index at the Valuation Time on the Valuation Date or the Issuer Call Date, as the case may be, as determined by or on behalf of the Calculation Agent without regard to any subsequently published correction or (if, in the determination of the Calculation Agent, no such level can be determined and no Market Disruption Event has occurred and is continuing) an amount determined by the Calculation Agent as its good faith estimate of the level of the Index on such date having regard to the then prevailing market conditions, the last reported trading price of the Shares and such other factors as the Calculation Agent determines relevant;

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Final Reference Pricei means the official closing price of the Underlyingi on the Determination Date;

  • Day-ahead Congestion Price means the Congestion Price resulting from the Day-ahead Energy Market.

  • ex-works price means the price paid for the product ex works to the manufacturer in the EU or in a SADC EPA State in whose undertaking the last working or processing is carried out, provided the price includes the value of all the materials used, minus any internal taxes paid which are, or may be, repaid when the product obtained is exported;

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Day-ahead Loss Price means the Loss Price resulting from the Day-ahead Energy Market.

  • Applicable Commitment Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Price in respect of such day.

  • Applicable Market Value has the meaning specified in Section 5.1.

  • Applicable LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Applicable ABR Margin means, at any date:

  • Issuance Price means the Sales Price less the Selling Commission.

  • Base Capacity Resource Price Decrement means, for the 2018/2019 and 2019/2020 Delivery Years, a difference between the clearing price for Base Capacity Resources and the clearing price for Capacity Performance Resources, representing the cost to procure additional Capacity Performance Resources out of merit order when the Base Capacity Resource Constraint is binding.