London Prevailing Time definition

London Prevailing Time or “LPT” means the prevailing time in London, United Kingdom;
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London Prevailing Time means the prevailing time in London;
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London Prevailing Time or “LPT” means “London Prevailing Time”, the prevailing time in London, United Kingdom. “Magellan” means Magellan Crude Oil Pipeline Company, L.P., and its successors. “MEH” or “Magellan MEH Terminal” or“ Magellan East Houston Terminal” means the crude oil storage terminal located in East Houstonowned and operated by Magellan used for the physical delivery of Permian WTI pursuant to these Contract Rules. located at 7901 Wallisville Road, Houston, Texas 77029. “ Midland WTI C ontract” or “Contract” means a crude oil futures contract governed by these Contract Terms, as may be amended by the Exchange from time to time. “Nominations Day” means one Business Day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a Non-Business Day, the Nomination Day shall be two Business Days prior to the Twenty-fifth calendar day of the month proceedingpreceding the delivery month. “ Non-Business Day” means a Trading Day which is a public holiday in US. “Payment DateNon- Business Day” means the twentieth day of the month following the delivery month if such date is a Business Day. If the twentieth is not a Business Day, the Payment Date shall be the first Business Day prior to the twentieth, unless the twentieth is a Sunday or a Monday that is not a Business Day. If the twentieth is a Sunday or a Monday that is not a Business Day, payment shall be made on the next Business Day after the twentieth day of the month following the delivery month.means a Trading Day that is a public holiday in US. For the purposes of the Contract Procedures, the ICE Clear Europe Delivery Procedures and any other clearing and settlement processes taking place at the Clearing House, a “Non-Business Day” shall mean a day on which the Clearing House is closed for business. “ Permian WTI” m eans West Texas Intermediate crude petroleum that originates from either Magellan’s Longhorn Crude System or BridgeTex Pipeline Company, LLC’s Crude System (or their respective successors and reasonably foreseeable extensions thereof). “ Permian WTI C ontract” means these contract rules together with the applicable Contract Procedures, as may be amended by the Exchange from time to time. “ Pipeline System” means the incoming or outgoing pipelines, and storage facilities located at Magellan East Houston Terminal, including Longhorn and BridgeTex pipelines. “Product” means a Permian Basin originated West Texas Intermediate crude oil as fur...
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More Definitions of London Prevailing Time

London Prevailing Time or “LPT” meansthe prevailing time in London, United Kingdom; (p) “MFT” means ICE Clear Europe’s Managed File Transfer Service for reporting and data file
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Related to London Prevailing Time

  • Eastern Prevailing Time means either Eastern Standard Time or Eastern Daylight Savings Time, as in effect from time to time.

  • Prevailing Market Rate for the applicable Extension Period shall be the prevailing rental rate for properties of equivalent quality, size, and utility, in the office submarket in which the Building is located, with the length of the lease term, Landlord concessions, and the credit standing of Tenant to be taken into account. Tenant shall, within thirty (30) business days of receipt of Landlord’s written notice of Landlord’s determination of the Prevailing Market Rate, notify Landlord in writing of its acceptance, dispute, or rejection of Landlord’s determination of the Prevailing Market Rate. If Tenant rejects Landlord’s determination or does not timely respond, then the Lease will terminate at the end of the Lease Term (without renewal, or further renewal [as the case may be]). If Tenant disputes Landlord’s determination of the Prevailing Market Rate, and Landlord and Tenant are not able to reach a mutual agreement as to the Prevailing Market Rate during the following thirty (30) business day period, then the Lease will terminate at the end of the Lease Term. If Tenant accepts Landlord’s determination, or Tenant and Landlord otherwise agree upon the Prevailing Market Rate, this Lease shall be extended without the necessity of the execution of any further instrument or document. Such Extension Period shall (A) commence upon the expiration date of the Lease Term (which, in the case of the Second Extension Period, shall be the date upon which the First Extension Period expires), (B) expire upon the same day of the forty-eighth (48) calendar month thereafter, and (C) be upon the same terms, covenants, and conditions as provided in the Lease for the initial Lease Term, except that the Base Rent payable during an Extension Period shall be at the Prevailing Market Rate as determined above beginning at the commencement of the applicable Extension Period. Payment of all additional rent and other charges required to be made by Tenant under the Lease for the initial Lease Term shall continue to be made during the applicable Extension Period in accordance with the terms and provisions of the Lease. Any assignment of the Lease or subletting of the Leased Premises by Tenant shall terminate the option(s) to extend the Lease Term contained herein. Notwithstanding the foregoing, in no event shall Base Rent for an Extension Period be less than the Base Rent during the last year of the initial Lease Term (which, in the case of the Second Extension Period, shall be the last year of the First Extension Period). Notwithstanding any provision to the contrary contained in this Rider, Tenant shall not have the option to extend the Lease Term for the Second Extension Period unless it has properly exercised its option to extend the Lease Term for the First Extension Period.

  • Prevailing Exchange Rate means, for purposes of translating, as of any date, any amount in a non-U.S. currency to U.S. dollars, the spot mid-rate of exchange between such currencies prevailing as of 4 p.m., New York City time, on such date, as displayed on, or derived from, Bloomberg page “BFIX” (or, if such page is not available, its equivalent successor page) in respect of such currencies. If such rate cannot be determined as provided in the immediately preceding sentence on such date (which, for the purpose of this definition, will be deemed to be the “affected day”), then the Prevailing Exchange Rate for such date will be determined mutatis mutandis but with respect to the immediately preceding day on which such rate can be so determined; provided, however, that, if such immediately preceding day is before the fifth (5th) day before such affected day, or if such rate cannot be so determined, then the Prevailing Exchange Rate will be determined in such other commercially reasonable manner as determined by the Company in good faith.

  • Prevailing Market means the arms-length, fair-market, annual rental rate per rentable square foot under extension and renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable to the Premises in the Building and office buildings comparable to the Building in the Palo Alto, California area. The determination of Prevailing Market shall take into account any material economic differences between the terms of the Lease, as amended, and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rate from the time such Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under the Lease, as amended.

  • Prevailing Rate means the rate of interest we apply after the Chosen Product ends or you breach the Terms and Conditions for the Chosen Product. For example, the prevailing rate can be the Variable Rate Call rate;