Index Transactions Sample Clauses
The 'Index Transactions' clause defines the rules and procedures governing transactions that are based on financial or commodity indices rather than physical assets or specific securities. It typically outlines how the value of the transaction is determined by reference to a published index, specifies the relevant index to be used, and addresses what happens if the index is discontinued or materially changed. This clause ensures that both parties have a clear understanding of how payments or settlements are calculated, thereby reducing ambiguity and managing the risk associated with changes to the underlying index.
Index Transactions. If the Contract Price for a Transaction is determined by reference to a third-party information source, then the following provisions shall be applicable to such Transaction.
Index Transactions. The terms and provisions of this Section shall be applicable only to transactions which stipulate prices that must be determined by reference to a published index or other publicly available price reference:
Index Transactions. The Authority may instruct the Supplier to fix or unfix the prices of Contract Blocks based on an Index (“Index Instruction”). In providing an Index Instruction the Authority shall specify: whether the Authority wishes to fix or unfix a price; the Contract Blocks to be subject to the Index Instruction by reference to their status as Baseload Blocks or Peakload Blocks, and the relevant time period; the total volume (in MW) subject to the Index Instruction; and the Index that is to apply (which may be a Day-Ahead Index or a Forward Index). The Supplier shall (whilst remaining telephonically connected) confirm such Index Instruction (which shall then be an (“Index Transaction”)) accurately reflecting the Index specified by the Authority pursuant to Paragraph 6.12 and the price of Contract Blocks shall be fixed or unfixed accordingly. The Supplier shall send the Authority an Initial Confirmation. The Authority shall: not be entitled to fix or unfix the price of Peakload Blocks using the LEBA Day Ahead Index; and pay the Transaction Fee set out below in respect of each Index Transaction where the Index used in respect of such Index Transaction is a Forward Index. Purchase Mechanism Fee (£/MWh) Fee (£/MWh) Working day-ahead Tradable Day 2 Tradable Day 3 Tradable Weekend 1 Tradable Week 1 Tradable Week 2 Tradable Week 3 Tradable Week 4 Tradable Month 1 Tradable Month 2 Tradable Month 3 Tradable Month 4 Tradable Quarter 1 Tradable Quarter 2 Tradable Quarter 3 Tradable Quarter 4 Tradable Season 1 Tradable Season 2 Tradable Season 3 Tradable Season 4 Tradable Season 5 Tradable Season 6 The Supplier shall inform the Authority as soon as reasonably practicable if any Index is withdrawn. If an Index: is no longer published; no longer reflects the market price of electricity; or
Index Transactions. If the Contract Price for a Transaction is determined by reference to a Price Source, then: a)
Index Transactions. OERI will enter into transactions to purchase natural gas from, or to sell natural gas to, any member of the Enogex Group at a Mid-Market Price (“Index Transactions”). OERI will be obligated to enter into an Index Transaction at an Enogex Group member’s reasonable request when an applicable index price and an applicable basis differential for natural gas is being traded for the applicable month of the transaction. OERI and the relevant Enogex Group member will document each Index Transaction in accordance with the applicable Implementation Agreement.
Index Transactions