Commodity Swap means an agreement entered into between the Borrower or a Designated Subsidiary and a counterparty on a case by case basis, the purpose and effect of which is to mitigate or eliminate the Borrower’s or such Designated Subsidiary’s exposure to fluctuations in commodity prices;
Commodity Swap means a lending arrangement in which repayment is in a commodity or is based on a commodity price;
Commodity Swap means any commodity swap, commodity option or commodity forward contract (including any option to enter into any of the foregoing).
Examples of Commodity Swap in a sentence
Type An Over the Counter (OTC) derivative contract – Commodity Swap (Payer) Objectives Commodity swaps are used for managing commodity price risks.
The notional quantity of the Commodity Swap (Payer) serves merely to calculate the respective payments.
In a Commodity Swap (Payer) you pay a fixed price and receive a floating price in the same currency for a specific commodity.
In a Commodity Swap (Receiver) you receive a fixed price and pay a floating price in the same currency for a specific commodity.
The notional quantity of the Commodity Swap (Receiver) serves merely to calculate the respective payments.
More Definitions of Commodity Swap
Commodity Swap means the swap of the Fixed Amount and the Floating Amount for a period of time limited by the duration of the Calculation Period, whose level depends on changes in the price of the Commodity concerned during an agreed period in the future. One of the parties agrees to pay the other party a predetermined, fixed price for the Commodity (the Fixed Amount) in exchange for receiving payments from the other party based on the market price of the Commodity concerned (the Floating Amount).
Commodity Swap means (a) any and all commodity swaps, commodity options, forward commodity contracts, commodity cap, floor or collar transactions, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement relating to any of the kinds of transactions in the preceding clause (a) (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
Commodity Swap has the meaning set forth in the Indenture.
Commodity Swap means (i) the ISDA Master Agreement dated as of
Commodity Swap means an agreement entered into between the Borrower and a counterparty on a case by case basis, the purpose and effect of which is to mitigate or eliminate the Borrower's exposure to fluctuations in commodity prices;
Commodity Swap. A transaction in which one party pays periodic amounts of a given currency based on a fixed price and the other party pays periodic amounts of the same currency based on the price of a commodity, such as natural gas or gold, or a futures contract on a commodity (e.g., West Texas Intermediate Light Sweet Crude Oil on the New York Mercantile Exchange); all calculations are based on a notional quantity of the commodity. Contingent Credit Default Swap. A Credit Default Swap Transaction under which the calculation amounts applicable to one or both parties may vary over time by reference to the mark-‐to-‐market value of a hypothetical swap transaction. Credit Default Swap Option. A transaction in which one party grants to the other party (in consideration for a premium payment) the right, but not the obligation, to enter into a Credit Default Swap.
Commodity Swap means the ISDA Master Agreement, Schedule and Confirmation between the Authority and the Commodity Swap Counterparty, or any replacement agreement permitted by Section 2.04(b), pursuant to which the Authority will pay to the Commodity Swap Counterparty an index-based floating price and the Commodity Swap Counterparty will pay to the Authority a fixed price in relation to the daily quantities of Gas to be delivered under the Prepaid Gas Agreement.