Diesel. (a) On the fifth working day of the month following the delivery month FORC will calculate the monthly price adjustment and transmit an invoice or credit memo to ETCo. (b) Payment will be made by the owing Party, to an account at a bank nominated by the receiving Party, by electronic funds transfer, within two Business Days of receipt of the invoice. (c) The average monthly price for each grade of diesel is the arithmetic average of the daily mean quotes, posted days only, during the delivery month. A daily mean quote is the average daily quoted low and high price for each grade of diesel as published by ▇▇▇▇▇'▇ Oil Service for Group 3, FOB the custody transfer point, plus the differentials detailed in Schedule C of the Agreement. (d) The monthly price adjustment for diesel is the difference between the price invoiced using the provisional pricing and the average monthly price for a grade of diesel as calculated in paragraph C(c) above.
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Sources: Frontier Products Offtake Agreement, Frontier Products Offtake Agreement (Frontier Oil Corp /New/)