Cargo Bank definition
Examples of Cargo Bank in a sentence
Should Buyer fail to follow the procedure below to designate the Hedge-Month and or set the [REDACTED] based index pricing for the Cargo Bank Hedge-Month within the allowed time period, Seller, in its sole discretion, can hedge the Cargo in the best way Seller sees fit and using the hedging futures contracts it deems most appropriate, and the actual difference between such hedging contracts and the third party pricing basis shall be used as the Cargo Basis Differential.
The sum of the volumes of the Cargo Bank Withdrawals (in the appropriate Delivery Month) with a particular Cargo Bank Hedge-Month will make up the volume of the “Hedge-Month Pool” for that Month.
If the pricing basis for a Cargo negotiated between Seller and a third party supplier is based on [REDACTED] index pricing for the Cargo Bank Hedge-Month, then the Cargo Basis Differential for such Cargo shall be $[REDACTED].
Should any Hedge-Month Pool be changed by Buyer requesting and Seller accepting a non-standard hedging activity, the Parties shall agree to a corresponding adjustment to the Cargo Basis Differential (and thereby the Cargo Bank Differential) and the Hedge-Month for any Cargo or part of Cargo that is affected by such change, in order that the Hedge-Month Pools and Cargo Banks remain in balance and the other principles of this Agreement ate maintained.
Should any Hedge-Month Pool be changed by Buyer requesting and Seller accepting a non-standard hedging activity, the Parties shall agree to a corresponding adjustment to the Cargo Basis Differential (and thereby the Cargo Bank Differential) and the Hedge-Month for any Cargo or part of Cargo that is affected by such change, in order that the Hedge-Month Pools and Cargo Banks remain in balance and the other principles of this Agreement are maintained.
If the pricing basis negotiated by Seller with the third party supplier is not based on [REDACTED] index pricing for the Cargo Bank Hedge-Month (such as a transaction based on “Dated ▇▇▇▇▇” pricing), then the Cargo Basis Differential will be [REDACTED].
If the pricing basis for a Cargo negotiated between Seller and a third party supplier is based on [REDACTED] index pricing for the Cargo Bank Hedge-Month then the Cargo Basis Differential for such Cargo shall be $[REDACTED] if the pricing basis negotiated by Seller with the third party supplier is not based on [REDACTED] index pricing for the Cargo Bank Hedge-Month (such as a transaction based on “Dated ▇▇▇▇▇” pricing) the Cargo Basis Differential will be [REDACTED].