NYMEX Price definition
NYMEX Price means, as of the date of the determination thereof with respect to each of the appropriate crude oil or natural gas categories included in the then most recent Reserve Report provided by Borrower to Administrative Agent pursuant to Section 6.2, the prices for the 36 succeeding monthly futures contract prices (the “3 Year Strip”) and held constant thereafter based on the price of the average of the contract prices for the last twelve (12) months of such 3-Year Strip period, commencing with the month during which the determination is to be made, as quoted on the New York Mercantile Exchange (the “NYMEX”) and published in a nationally recognized publication for such pricing as selected by Administrative Agent, adjusted to account for the historical basis in a manner acceptable to the Administrative Agent, and held constant thereafter; provided, however, in the event that the NYMEX no longer provides futures contract price quotes for 36 month periods, the longest period of quotes of less than 36 months shall be used and held constant thereafter based on the average of the contract prices for the last twelve (12) months of such period, and, if the NYMEX no longer provides such futures contract quotes or has ceased to operate, the Administrative Agent shall designate another nationally recognized commodities exchange to replace the NYMEX for purposes of the references to the NYMEX herein.
NYMEX Price means, in respect of palladium or platinum, the settlement price per xxxx ounce at the close of business on any Business Day for a contract to sell such Precious Metal for delivery in the next subsequent month for which such contract is offered for sale on the NYMEX.
NYMEX Price shall have the meaning set forth in Section 4.7(a).
Examples of NYMEX Price in a sentence
For Option B, the Bid Form will state a fixed delivery charge that will be added to the Fixed Price Futures Program which will be determined by the New York Mercantile Exchange (NYMEX) Price as listed in the Wall Street Journal Future Prices for July of 2019 on the day that the awarded vendor is notified to lock in on a futures price for all of the BRGPP’s participants that want to lock in.
The SSCR Factors listed in Steam Rate Schedule, Rule 34, Sheet No. 16.00, may be increased on a quarterly basis for the remaining months of the SSCR Plan year, contingent upon a NYMEX Price Increase.
A NYMEX Price Increase is calculated using the following formula: NYMEX Price Increase = (X – Xplan) • X = the simple average of the actual NYMEX monthly natural gas futures contract prices, ($/MMBtu), for the remaining months of the SSCR Plan period, (averaged over the first five trading days of the month prior to implementation).
If the parties are unable to agree on the basis differentials or methodology for determining the basis, the NYMEX Price shall be deemed to be rejected.
Contractor confirms that Contractor has either consulted with an attorney or has voluntarily chosen not to do so.
More Definitions of NYMEX Price
NYMEX Price means, in respect of palladium or platinum, the settlement price per troy ounce at the close of business on any Business Day for a contract to sell such Precious Metal for delivery in the next subsequent month for which such a contract is offered for sale on the NYMEX.
NYMEX Price means the average of the New York Mercantile Exchange (NYMEX) settlement prices for light sweet oil delivered at Cushing, Okla- homa, calculated as follows:
NYMEX Price means, as of the date of the determination thereof, the average of the 24 succeeding monthly futures contract prices, commencing with the month during which the determination is to be made, for each of the appropriate crude oil or natural gas categories included in the most recent Reserve Report provided by Borrower to Agent pursuant to Section 6.2, as applicable, as quoted on the New York Mercantile Exchange ("NYMEX"), or, if the NYMEX no longer provides futures contract price quotes for 24 month periods, the longest period of quotes of less than 24 months shall be used, and, if the NYMEX no longer provides such futures contract quotes or has ceased to operate, the Agent shall designate another nationally recognized commodities exchange to replace the NYMEX, as quoted in a nationally recognized publication for such pricing as selected as of such date by Agent.
NYMEX Price means the price for the natural gas futures contract traded on the New York Mercantile Exchange.
NYMEX Price means, for a given Delivery Month, the average of the daily settlement prices for the current month contract on the New York Mercantile Exchange for light sweet crude oil during the calendar month for which such Delivery Month is referenced. For example, the NYMEX Price for Delivery Amounts delivered in January shall be the average of the daily settlement contracts on the New York Mercantile Exchange for February futures contracts (until such time as settlement prices cease to be published for February, and thereafter for March futures contracts) for light sweet crude oil as published from January 1 through January 31.
NYMEX Price means the settlement price on the last trading day for the Henry Hub gas futures contract for the delivery month, as traded on the New York Mercantile Exchange or any successor organization.
NYMEX Price means, as of the date of the determination thereof, the average of the 24 succeeding monthly futures contract prices, commencing with the month during which the determination is to be made, for the category of Proved Developed Producing Reserves included in the most recent Reserve Report provided by Borrower to Agent pursuant to SECTION 6.2 as quoted on the NYMEX, or, if the ----------- NYMEX no longer provides futures contract price quotes for 24 month periods, the longest period of quotes of less than 24 months shall be used, and, if the NYMEX no longer provides such futures contract quotes or has ceased to operate, the Agent shall designate another nationally recognized commodities exchange to replace the NYMEX.