2Offset Quantity and Close Out Quantity Sample Clauses

2Offset Quantity and Close Out Quantity. (a)The total quantity to be offset for a relevant Gas Day at a Trading Location (Offset Quantity) is the lesser of TQS and TQB, where TQS is the total of the Transaction Quantities for relevant Transactions in which the Defaulting Participant is the Seller; and TQB is the total of the Transaction Quantities for relevant Transactions in which the Defaulting Participant is the Buyer.

Related to 2Offset Quantity and Close Out Quantity

  • WHEREAS the Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"); and

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.