Brent Index definition
Brent Index means, in respect of a Valuation Date or a Pricing Date, the daily fixing price for one barrel of the Brent blend crude oil futures contract denominated in USD as published by the IPE and displayed on Page "SETT" of the Reuters Monitor Money Rates Service or on the Bloomberg ticker CO1+Cmdty, the expiry date of which is the first to occur after such Valuation Date or Pricing Date (e.g. for a Valuation Date occurring on September 30, 2005, the relevant daily fixing price for one barrel of the Brent blend crude oil futures contract, denominated in USD, as published by the IPE and displayed on Page "SETT" of the Reuters Monitor Money Rates Service or on the Bloomberg ticker CO1+Cmdty shall be the one of the November 05 Brent blend crude oil futures contract expiring on October 14, 2005). For the avoidance of doubt, if a Valuation Date or a Pricing Date occurs on the expiry date of a Brent blend crude oil futures contract, the relevant daily fixing price for one barrel of the Brent blend crude oil futures contract shall be the one the expiry date of which is the first to occur after such Valuation Date or Pricing Date.