CBOB Price definition

CBOB Price means the arithmetic average for the Product Trade Month of the daily Argus Gasoline 85 CBOB Colonial A grade cycle 1 – Houston average of the high and low bearing code #PA00069982, converted from cents per gallon to dollars per barrel; provided, however, that for any Product Trade Months during which Colonial Pipeline has issued a bulletin stating that the 9.0 RVP can be scheduled on the pipeline and an Argus supplemental price is in effect, then the “CBOB Price” shall be the arithmetic average for the Product Trade Month of the daily Argus Gasoline 85 CBOB Colonial A grade 9.0 RVP Supplemental cycle 1 – Houston average of the high and low bearing code #PA00077422 converted from cents per gallon to dollars per barrel; and (C) “Distillate Price” means the arithmetic average for the Product Trade Month of the daily Argus Diesel 61 10ppm (ULS) Colonial pipeline cycle 1 – Houston average of the high and low bearing the code #PA00040892, converted from cents per gallon to dollars per barrel. If Argus (or successor publisher) fails to publish any reference price set forth in clauses (A) through (C) above for any trading days in the applicable month, the average of the remaining days in the month will be used. If Argus (or successor publisher) ceases to publish any referenced price set forth in clauses (A) through (C) above, Buyer and BP Products will negotiate in good faith to agree upon a new pricing formula using suitable industry available quotations maintaining a representative 3-2-1 crack spread. “Product Trade Month” will be the actual pricing days on the Colonial Pipeline shipping schedule as published by Colonial Pipeline Company on its website, which, without limiting the foregoing, typically begins approximately ten (10) or less days immediately prior to the calendar month in which the product is produced (the “Product Production Month”) through a day which is approximately ten (10) days or less prior to the end of the Product Production Month and shall be the aggregation of all the pricing days that Argus generates prompt cycle assessments for all of the Pasadena pump cycles (usually 6 cycles per month) associated with the Product Production Month.
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CBOB Price has the meaning set forth in Section 6.2.3(a).
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Related to CBOB Price

  • Ask Price means the price at which the Company is willing to sell a CFD.

  • Shadow Price means the marginal value of relieving a particular constraint which is determined by the reduction in system cost that would result from an incremental relaxation of that constraint.

  • Formula Price means the highest of: (a) the highest composite daily closing price of the Stock during the period beginning on the 60th calendar day prior to the Change of Control and ending on the date of such Change of Control, (b) the highest gross price paid for the Stock during the same period of time, as reported in a report on Schedule 13D filed with the Securities and Exchange Commission, or (c) the highest gross price paid or to be paid for a share of Stock (whether by way of exchange, conversion, distribution upon merger, liquidation or otherwise) in any of the transactions set forth in Section 9 of the Plan as constituting a Change of Control; provided that in the case of the exercise of any such Right related to an Incentive Stock Option, “Formula Price” shall mean the Fair Market Value of the Stock at the time of such exercise.

  • SAFE Price means the price per share equal to (x) the Valuation Cap divided by (y) the Fully Diluted Capitalization.

  • Catalog price means a price included in a catalog, price list, schedule, or other form that is regularly maintained by the manufacturer or vendor, is either published or otherwise available for inspection by customers, and states prices at which sales are currently, or were last, made to a significant number of buyers constituting the general public; and