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OPIS Index definition

OPIS Index means the monthly average of the daily average (AVG) prices per Gallon, for the Month of delivery, as quoted by Oil Price Information Service (“OPIS”) in the OPIS-LP-Gas Report for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Non-TET prices for the propane, isobutane, normal butane, and natural gasoline Components; and (ii) the Purity Ethane price for the ethane Component. The OPIS Index is not to include any TET, Oth, or other categories of Component prices that might be published by OPIS during the Term. No value will be given to CO2 or other impurities or for methane in excess of the Carrier's Product Specifications.
OPIS Index means the Oil Price Information Service Index.
OPIS Index means the Monthly average of the daily high and low prices per Gallon, for the applicable Month, as quoted by the Oil Price Information Service (“OPIS”) for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Non-TET prices for the Propane, Isobutane, Normal Butane and Natural Gasoline Specification Products (as defined in this Section 2 below under “Specification Products”); and (ii) the purity ethane price for the Ethane Specification Product. Should any of the indices referenced above be discontinued, the parties shall mutually agree upon a comparable successor index and/or publication.

Examples of OPIS Index in a sentence

  • If for any reason the OPIS Index for a particular NGL Component or any other index used in the calculations made pursuant to Section 4.1 should (i) cease to be published or (ii) be materially changed, the Parties agree promptly and in good faith to negotiate a mutually satisfactory alternate index or substitute methodology for calculating the price for such Component (the “Alternate Index”).

  • The Shipper Cash Out Position equals the sum of (i) each Component Imbalance multiplied by (ii) the corresponding OPIS Index less $0.11 per gallon.

  • Commencing with the Effective Date and continuing for each Month of the Term, Buyer shall reimburse Seller for (a) the purchase of Feedstock for sale under this Agreement at a deemed purchase price equal to the OPIS Index, plus (b) all commercially reasonable and verifiable costs incurred (excluding internal costs of Seller) for the storage, handling, and transportation of such quantities from the Mont Belvieu pricing point to the applicable Receipt Points.

  • If for any reason the OPIS Index for a particular Product should (i) cease to be published or (ii) be materially changed, the Parties agree promptly and in good faith to negotiate a mutually satisfactory alternate index or substitute methodology for calculating the price for such Product (the “Alternate Index”).

  • On average, the County purchases approximately 145,000 gallons of mid-grade gasoline and 70,000 gallons of Ultra-Low diesel.6.2.6 Awarded vendor must provide a copy of the Daily OPIS Index Newsletter during the full term of the contract resulting from this ITB, showing the daily OPIS Rack Average price for the terminal where vendor purchased the fuel, for the dates of fuel delivery.6.2.7 The Vendor shall keep an adequate supply of gasoline and diesel fuel available to fill requirements at all times.

  • Additionally, the Hidalgo County Precinct No. 1 reserves the right to independently verify changes in OPIS pricing and to modify an invoice amount based on a 10% change in the OPIS Index.

  • In determining whether price changes are permitted hereunder, vendor must submit the appropriate OPIS Index issued on the date of the vendor’s billing invoice.

  • Resultant Contract pricing will be based on the corresponding OPIS Index listed below plus the corresponding Fixed Differential Amount plus the applicable State fuel taxes.

  • In the event the applicable [***] OPIS Index ceases to be published, the Parties shall promptly agree upon an alternative index to be utilized.

  • For each 10% (increase or decrease) in the current OPIS Index of December 01, 2020 during the contract term, the fuel cost(s) portion of the awarded bid price(s) will be adjusted accordingly.


More Definitions of OPIS Index

OPIS Index shall have the meaning set forth in Section 5.2(a).
OPIS Index means the Monthly average of the Daily average (AVG) prices per gallon, for the Month of delivery, as quoted by Oil Price Information Service ("OPIS") in the OPIS-LP-Gas Report for "Any Current Month" under "Mont Belvieu Spot Gas Liquids Prices" using (i) the Non-TET prices for the propane, isobutane, normal butane, and natural gasoline Components and (ii) the Purity Ethane price
OPIS Index means the monthly average of the daily high and low prices per Gallon, for the month of delivery, as quoted by Oil Price Information Service, or its successor-in-interest, in the OPIS LPG Report for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Purity Ethane prices for Ethane (“Ethane Price”), and (ii) the “Non-TET” prices for Propane (“Propane Price”).
OPIS Index means the monthly average of the daily high and low prices per Gallon, for the month of delivery, as quoted by the Oil Price Information Service (“OPIS”) in the OPIS-LP-Gas Report for "Any Current Month" under "Mont Belvieu Spot Gas Liquids Prices" using (i) the Non-
OPIS Index means the daily products rack price published by the Oil Price Information Service (“OPIS”).

Related to OPIS Index

  • CMT Index Not applicable.

  • RPIX Index shall have the meaning given to it in paragraph 5.4 of Schedule 3 (Charging Structure) of this Framework Agreement;

  • SIFMA Index means the Securities Industry and Financial Markets Association Municipal Swap Index, produced by Municipal Market Data, or if such index is not published, then such other index selected by the Treasurer which reflects the yield of tax-exempt seven-day variable rate demand bonds.

  • CPI Index means the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, U.S. City Average, “All Items” (1982-84 = 100), or any successor index thereof as such successor index may be appropriately adjusted to establish substantial equivalence with the Consumer Price Index; provided that if the Consumer Price Index ceases to be published and there is no successor thereto, such other index as the Company shall designate in writing to the Trustee shall be substituted for the Consumer Price Index.

  • SOFR Index means, with respect to any U.S. Government Securities Business Day:

  • Retail Prices Index means the general index (for all items) published by the Office for National Statistics or, if that index is not published for a relevant month, any substituted index or index figures published by that Office;

  • Case-mix index means an arithmetical index measuring the relative average costliness of outpatient cases treated in a hospital, compared to the statewide average.

  • Underlying Index means each of the MSCI EAFE Index and MSCI Emerging Markets Index. The “Pricing Date” shall mean June 30, 2017. The “Starting Price” is 100. The “Ending Price” will be calculated based on the weighted returns of the Basket Components and will be equal to the product of (i) 100 and (ii) an amount equal to 1 plus the sum of: (A) 75% of the Component Return of the iShares MSCI EAFE ETF and (B) 25% of the Component Return of the iShares MSCI Emerging Markets ETF. The “Component Return” of a Basket Component will be equal to: Final Component Price – Initial Component Price Initial Component Price where, • the “Initial Component Price” is the Fund Closing Price of such Basket Component on the Pricing Date; and • the “Final Component Price” will be the Fund Closing Price of such Basket Component on the Calculation Day. The Initial Component Prices of the Basket Components are as follows: iShares MSCI EAFE ETF ($65.20) and iShares MSCI Emerging Markets ETF ($41.39). The “Fund Closing Price” with respect to a Basket Component on any Trading Day means the product of (i) the Closing Price of one share of such Basket Component (or one unit of any other security for which a Fund Closing Price must be determined) on such Trading Day and (ii) the Adjustment Factor applicable to such Basket Component on such Trading Day. The “Closing Price” with respect to a share of a Basket Component (or one unit of any other security for which a Closing Price must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. The “Adjustment Factor” means, with respect to a share of a Basket Component (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to adjustment in the event of certain events affecting the shares of such Basket Component. See “Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation—Anti-dilution Adjustments” below. The “Capped Value” is 146.00% of the Face Amount of this Security. The “Threshold Price” is 90, which is equal to 90% of the Starting Price. The “Participation Rate” is 175%.

  • SOFR IndexStart means the SOFR Index value on the day which is two U.S. Government Securities Business Days preceding the first date of the relevant Interest Period (an "Index Determination Date"); and

  • Reference Index means each of the indices comprising the Reference Portfolio.

  • SOFR IndexEnd means the SOFR Index value on the day which is five U.S. Government Securities Business Days preceding the Interest Payment Date relating to such Interest Period (or in the final Interest Period, the Maturity Date).

  • Initial Index Level means the closing level of the FTSE 100 on the Start Date.

  • SIFMA Municipal Swap Index means on any Rate Determination Date the Securities Industry and Financial Markets Association Municipal Swap Index, produced and made available by Municipal Market Data as of 3:00 p.m., New York City time, on the Rate Determination Date.

  • Compounded Index means either the SONIA Compounded Index or the SOFR Compounded Index, as specified in the relevant Final Terms;

  • Hazard index means the sum of two or more hazard quotients for multiple hazardous substances and/or multiple exposure pathways.

  • Final Index Level : means the Closing Level of the FTSE 100 Index on the Investment End Date.

  • Base Index means the most recent Consumer Price Index published immediately prior to the Commencement Date.

  • National Cost of Funds Index The National Monthly Median Cost of Funds Ratio to SAIF-Insured Institutions published by the Office of Thrift Supervision.

  • Minimum Index Level means, in respect of a series of bull CBBCs, the lowest Spot Level of the Index during the MCE Valuation Period;

  • Inflation Index means each inflation index specified in the applicable Final Terms and related expressions shall be construed accordingly.

  • LIBOR Index means the British Bankers Association's (BBA) one (1) month LIBOR Rate for United States Dollar deposits, as displayed on the LIBOR Index Page used to establish the LIBOR Index Rate.

  • SOFR Compounded Index means the Compounded SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and

  • Reference Year Market Flow means the Market Flow based on a transmission topology that includes all pre-existing Transmission Facilities and all new or upgraded Transmission Facilities whose impact on M2M Entitlements has been previously evaluated and incorporated.

  • Initial Index Price means the sum of the per share closing sales price of the common stock of each company comprising the Index Group multiplied by the applicable weighting, as such prices are reported on the consolidated transaction reporting system for the market or exchange on which such common stock is principally traded on the trading day immediately preceding the public announcement of this Agreement.

  • Index Level means, in respect of any day and subject to Adjustment Provisions: (a) in respect of an Index (other than a Multiple Exchange Index), the closing level of such Index at the Valuation Time on such day; and (b) in respect of an Index that is a Multiple Exchange Index, the official closing level of the Index on such day at the Valuation Time as calculated and published by the Index Sponsor each as rounded up to four decimal places (with 0.00005 being rounded up), all as determined by the Calculation Agent.

  • Worst Performing Index means the Index for which the performance is the lowest in accordance with the definition of WOfinal