Spot Price Clause Samples

Spot Price. 16.1 NatMilk will update the minimum spot price for the supply period on the first day of the pool pricing window as set out at Item 11 in the key terms. 16.2 On the supply decision date, the Farmer must notify NatMilk whether it has chosen to commit the intended committed spot volumes to be sold to NatMilk during the supply period. 16.3 The parties can agree throughout the supply period, by mutual written agreement, to the Farmer committing additional committed spot volumes to sell to NatMilk. 16.4 NatMilk will provide notice to the Farmer by close of the next business day whether it accepts the intended committed spot volumes. 16.5 Upon notification of the acceptance of the committed spot volumes in accordance with clause 16.3 above, NatMilk will update Schedule 2 to reflect the mutually agreed committed spot volume(s). 16.6 Prior to the end of each month, NatMilk will publish the spot price for that month (which will not be less than the minimum spot price). Within a reasonable time after publication of the spot price, NatMilk will provide the Farmer with an updated Schedule 2 setting out the spot price for that month. This spot price will then be used to calculate the payment to the Farmer for committed spot volumes for that month. 16.7 For committed spot volumes in any given month, the Farmer and ▇▇▇▇▇▇▇ can mutually agree to convert the committed spot volumes into committed fixed volumes at a mutually agreed fixed price. This can be done at any time up until the end of the month two months prior to the month for which the spot volumes are committed. For example, committed spot volumes in September 2024 can be converted to committed fixed volumes up until the end of July 2024.

Spot Price. (a) The per ton base Spot Price for (i) the first ****** tons of Spot Tonnage delivered by truck to the Station commencing on or after January 1, 2007, and (ii) any Additional 2007 Spot Tonnage, and the base cost components of such Spot Price are set forth below. Diesel Fuel ******% $ ****** ****** Fixed Portion ******% $****** None Total ******% $****** (b) The per ton base Spot Price for the remaining ****** tons of Spot tonnage delivered by truck to the Station (after delivery of the initial ****** tons of Spot Tonnage and excluding any Additional 2007 Spot Tonnage), and the base cost components of such Spot Price are set forth below. Diesel Fuel ******% $ ****** ****** Fixed Portion ******% $****** None Total ******% $****** (c) The Diesel Fuel Component of the Spot Prices set forth in Section(s) 7.8(a) and 7.8(b) shall be subject to quarterly adjustment beginning ******, and on the first day of each calendar quarter thereafter, based upon the percentage change in the ▇▇▇▇▇▇▇▇ Index referenced in Section(s) 7.8(a) and 7.8(b). The base index level is ******, as determined by averaging the first indexes published applicable to each of the months comprising the ****** quarter of ******. The reference indexes shall be determined by averaging the first indexes published applicable to each of the months for the months comprising the ****** calendar quarter immediately preceding the calendar quarter for which a Spot Price determination is to be made. For example, the average index levels for the months of ****** and ****** would be used for determining the reference index for the ****** quarter of ******. Seller shall calculate the Diesel Fuel adjustment and submit such calculation to Buyer along with its submittal of Annex C. The Fixed Portion component of the Spot Prices shall not be subject to adjustment. (d) The base Spot Prices set forth in Section(s) 7.8(a) and 7.8(b), as adjusted under the provisions of Section 7.8(c), are also subject to adjustment pursuant to the provisions of Section 7.5 for Regulatory Changes occurring after ******. (e) Buyer and Seller agree to enter into good faith negotiations for a non-binding re-opener for volume and price for Spot Tonnage deliveries to the Station for a minimum term of no less than ****** years commencing at such time as a total of ****** tons of Spot Tonnage has been shipped under this Agreement, which shall be increased by the amount of Additional 2007 Spot Tonnage, if any, as set forth in Section 3.1 (b) a...

Spot Price. The price of a security or commodity in the cash market. Used in reference to the futures markets for securities or commodities which underlay various futures contracts. The yield or price differential between two different securities. Underwriting spread; the difference between the price to the public and the issuer. The difference between the bid and the asked price or yield in the quotation of a security. Simultaneous purchase and sale of different but related futures contracts, one-to-one or in a ratio; a hedge if the cause of widening or narrowing in the price difference between futures contracts is the same as the cause of gains or losses in an intended cash market transaction. Statistical measure of the degree to which an individual value in a probability distribution tends to vary from the mean of the distribution. In portfolio theory, the past performance of securities is used to determine the range of possible future performances and a probability is attached to each performance. The standard deviation of performance can then be calculated for each security and for the portfolio as a whole. The greater the degree of dispersion, the greater the risk.

Spot Price. [ ] ____________________________ Choice Of Law California Publication ------------------------------------------------------------------------------------------------------------------------------------ SECTION 6 x Buyer Pays At and After Delivery Point SECTION 14.10 [ ] Confidentiality applies (default) Taxes (default) Confidentiality x Confidentiality does not apply [ ] Seller Pays Before and At Delivery Point ------------------------------------------------------------------------------------------------------------------------------------ x SPECIAL PROVISIONS Number of sheets attached: 7 [ ] ADDENDUM(S):___________________________________________________________________________________________

Spot Price. Adjustment Not withstanding the foregoing, if HMNC pays a weighted average spot price higher than the MLP contract price during any calendar year, MLP will receive an additional nut price adjustment equal to 50% of the difference between the weighted average spot price and the prevailing contract price. This provision does not affect the index calculations. Any additional payment shall be calculated and paid by HMNC no later than January 31st of the succeeding year. Any spot prices negotiated between MLP and HMNC for deliveries above contract volumes will not be included in the calculation of the Spot Price Adjustment above.