Examples of Xxxxx Hub in a sentence
If the NYMEX Xxxxx Hub Natural Gas futures contract settlement prices cease to be published for any reason, or the data is so changed in the basis of calculation or quantity or type of commodity included therein or otherwise as to affect materially the validity of the index over time, the Parties shall select a comparable index to be used in its place that maintains the intent and economic effect of the original index.
The price of Gas sold and purchased with respect to any month (the “Contract Price”) shall be ninety-six percent (96%) of the price in dollars per MMBtu for the NYMEX Xxxxx Hub Natural Gas futures contract for Gas to be delivered during such month, such price to be based upon the final settlement price on the last trading day for the futures contracts for such month, plus ten cents ($0.10) per MMBtu.
The arithmetic average of the Eligible Broker Quotes obtained for each NYMEX Xxxxx Hub Gas Price for each month (or year or Swap Spread-Derived Price) shall be the NYMEX Xxxxx Hub Gas Price for such month (or year or Swap Spread-Derived Price) for purposes of calculating the NYMEX Final Price.
This is the Price for any specified delivery month(s) as established by trading of natural gas futures contracts on the New York Mercantile Exchange ("NYMEX"), Kansas City Board of Trade ("KCBOT") or other commodities exchange as designated in the Agreement, covering such delivery month(s) for the Xxxxx Hub, Permian Basin, Alberta, Waha or other delivery location for which gas futures contracts are traded.
Floating Price: For each Determination Period, the closing price on the last trading day of the applicable contract (“Pricing Day”) of the New York Mercantile Exchange's (Nymex) Natural Gas Xxxxx Hub Futures Contract for the Reference Month stated in U.S. Dollars per MMbtu as made public by the Nymex on the Pricing Day.
Clause (ii) and (iii) above will be calculated based on a price for gas per mcf of the lower of (a) $6.00 Xxxxx Hub and (b) the then current Xxxxx Hub prompt month price and price for oil per barrel of the lower of (a) $40 and (b) the then current NYMEX prompt month price.
All Broker Quotes obtained pursuant to this section shall be averaged, and Broker Quotes for any given NYMEX Xxxxx Hub Gas Price (or Swap Spread-Derived Price) that are no greater than 105%, and no less than 95%, of the average of the Broker Quotes obtained for such NYMEX Xxxxx Hub Gas Price (or Swap Spread-Derived Price) shall be "Eligible Broker Quotes" and all other Broker Quotes shall be disregarded for the purposes of this section.
La. & Offshore (zone 1); (4) Transcontinental Gas Pipe Line Corp., Zone 3 (pooling points); and (5) Market Center Spot-Gas Prices, South Louisiana, Xxxxx Hub.
If Calendar Year Swap Spreads are not available for a given year and if any later Broker Quote provides the NYMEX Xxxxx Hub Gas Price on a calendar year basis, then the monthly NYMEX Xxxxx Hub Gas Price during each month of such calendar year for the annual Broker Quote shall be deemed to be the calendar year NYMEX Xxxxx Hub Gas Price contained in the Broker Quote.
If neither Published Values nor Eligible Broker Quotes are available to determine the NYMEX Xxxxx Hub Gas Price for any month in the Calculation Period, ProGas shall calculate the arithmetic average percentage change in the Visible Market for each of the NYMEX Xxxxx Hub Gas Prices for all of the months during the Calculation Period for which Visible Market values for NYMEX Xxxxx Hub Gas Prices are available (the "Deviation Percentage").