Blended Price definition
Examples of Blended Price in a sentence
To determine the Blended Price the following definitions and underlying calculations need to be applied.
Upon determination of the First Estimated Blended Price applicable to a calendar year, for each order placed by IDEXX for delivery during the first three calendar quarters of such year, the amount invoiced and paid per slide listed on Schedule 5 shall be the First Estimated Blended Price.
The party obligated to make such final payment shall do so within 30 days after the determination of the Final Blended Price.
In addition, either party may calculate the resulting adjustment (up or down) for each slide delivered for the first three quarters to reflect the difference between the First Estimated Blended Price and the Second Estimated Blended Price, such that the amount paid by IDEXX for all slides delivered during the first three calendar quarters shall equal the Second Estimated Blended Price.
If the Second Estimated Blended Price is different than the First Estimated Blended Price, the amount invoiced and paid per slide listed on Schedule 5 shall be the Second Estimated Blended Price.
If the Final Blended Price is different than the Second Estimated Blended Price, then IDEXX or OCD, as the case may be, shall make a final payment to the other, so that the final amount paid by IDEXX per slide for all slides ordered and delivered during the year shall equal the Final Blended Price.
For purposes of calculation of the Blended Price per Barrel of Oil and Feedstock in a Month, the Parties shall use the same elements or component information that are used for determining the Cargo Final Prices and any corrections or modifications that are required to account for difference between the estimates used in setting the Cargo Final Prices and the exact amounts that such estimates were seeking to approximate will be addressed pursuant to Clause 12 ▇▇▇▇▇ Cash Banks.
For purposes of calculation of the Blended Price per Barrel of Oil in a Month, the Parties shall use the same elements or component information that are used for determining the Cargo Final Prices and any corrections or modifications that are required to account for difference between the estimates used in setting the Cargo Final Prices and the exact amounts that such estimates were seeking to approximate will be addressed pursuant to Clause 12 ▇▇▇▇▇ Cash Banks.
The Difference payment shall be appropriately taken into account when calculating the Final Blended Price in accordance with Section 7.02(b) of the Agreement.
The JSC shall resolve any disputes between the Parties with regard to the Standard Product Prices and the projected Blended Price, and the Parties shall agree upon in writing no later than December 1 of each Calendar Year the Standard Product Prices for all Sites and the projected Blended Price for the upcoming Calendar Year.