Current Reference Instrument definition

Current Reference Instrument means the Initial Reference Instrument from the Index Start Date until the first Rollover Date. Once the Index Closing Value on the first Rollover Date has been calculated and determined, this Reference Instrument loses its validity and is replaced by the Reference Instrument contract for the Contract Months specified above next falling due on the Reference Exchange. On each subsequent Rollover Date, following the calculation and determination of the Index Closing Value, the Current Reference Instrument is replaced in turn by the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month.The replacement described above is subject to the condition that the Reference Instrument Price of the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month is positive on the Rollover Date.If the Reference Instrument Price of the Reference Instrument contract is zero (0) or negative on the Rollover Date, the Reference Instrument contract will be replaced accordingly by the Reference Instrument contract falling due on the Reference Exchange in the first subsequent Contract Month that has a positive Reference Instrument Price on the Rollover Date (respectively a "Rollover").If there is no subsequent Reference Instrument contract with a positive Reference Instrument Price, the Index Calculation Agent is entitled to an extraordinary adjustment of the index calculation in accordance with Section D.Each Rollover is published by the Index Calculation Agent in accordance with section E).
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Current Reference Instrument means the fåáíá~ä oÉÑÉêÉåÅÉ fåëíêìãÉåí from the fåÇÉñ pí~êí a~íÉ until the first oçääçîÉê a~íÉ. Once the fåÇÉñ `äçëáåÖ s~äìÉ on the first oçääçîÉê a~íÉ has been calculated and determined, this oÉÑÉêÉåÅÉ fåëíêìãÉåí loses its validity and is replaced by the oÉÑÉêÉåÅÉ fåëíêìãÉåí contract for the `çåíê~Åí jçåíÜë specified above next falling due on the oÉÑÉêÉåÅÉ bñÅÜ~åÖÉ. On each subsequent oçääçîÉê a~íÉ, following the calculation and determi- nation of the fåÇÉñ `äçëáåÖ s~äìÉ, the `ìêêÉåí oÉÑÉêÉåÅÉ fåëíêìãÉåí is replaced in turn by the oÉÑÉêÉåÅÉ fåëíêìãÉåí contract falling due on the oÉÑÉêÉåÅÉ bñÅÜ~åÖÉ in the next following`çåíê~Åí jçåíÜ (respectively a "Rollover").Each oçääçîÉê is published by the fåÇÉñ `~äÅìä~íáçå ^ÖÉåí in accordance with section E). "Initial Reference Instrument" means Brent Crude Oil Future May 2016.
Sample 1
Current Reference Instrument means the Iuitial Refereuce Iustrumeut from the Iudex Start Date until the first Rollover Date. Once the Iudex Closiuφ Value on the first Rollover Date has been calculated and determined, this Refereuce Iustrumeut loses its validity and is replaced by the Refereuce Iustrumeut contract for the Coutract Mouths specified above next falling due on the Refereuce Exchauφe. On each subsequent Rollover Date, following the calculation and determi- nation of the Iudex Closiuφ Value, the Curreut Refereuce Iustrumeut is replaced in turn by the Refereuce Iustrumeut contract falling due on the Refereuce Exchauφe in the next following Coutract Mouth (respectively a "Rollover").Each Rollover is published by the Iudex Calculatiou Aφeut in accordance with section E). "Initial Reference Instrument" means Natural Gas (Henry Hub) Future August 2015.
Sample 1

Examples of Current Reference Instrument in a sentence

  • D) EXTRAORDINARY ADJUSTMENT OF THE INDEX CALCULATION In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below).

  • If at time s on Index Calculation Day T the Reference Instrument Price exceeds the most recent Valuation Price of the Current Reference Instrument by more than 5% (Barrier) , an "Intraday Index Adjustment" takes place, simulating a new day:s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 1.05d = 0A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 1.05.The financing component remains unchanged.

Related to Current Reference Instrument

  • Reference Instrument means Natural Gas (Henry Hub) Future.Currency: USDISIN: US12573E1010Bloomberg Symbol: NG1 Comdty

  • Annex means an annex to this Agreement.

  • Replacement Reference Rate means a reference rate which is:

  • Relevant Reference Price means the Reference Price on the Final Valuation Date. "Security Holder" means the holder of a Security.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Unsecured Longer-Term Indebtedness means any Indebtedness of the Borrower that (a) has no amortization or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date (it being understood that (i) the conversion features into Permitted Equity Interests under convertible notes (as well as the triggering of such conversion and/or settlement thereof solely with Permitted Equity Interests) shall not constitute “amortization” for the purposes of this definition and (ii) any mandatory redemption, repurchase or prepayment obligation or put right that is contingent upon the happening of an event that is not certain to occur (including, without limitation, a change of control or bankruptcy) shall not in and of itself be deemed to disqualify such Indebtedness under this clause (a) (notwithstanding the foregoing, in this clause (ii), the Borrower acknowledges that any payment prior to the Termination Date in respect of any such obligation or right shall only be made to the extent permitted by Section 6.12)), (b) is incurred pursuant to terms that are substantially comparable to market terms for substantially similar debt of other similarly situated borrowers as reasonably determined in good faith by Borrower (other than financial covenants and events of default, which shall be no more restrictive upon the Borrower and its Subsidiaries, prior to the Termination Date, than those set forth in this Agreement) (it being understood that put rights or repurchase or redemption obligations arising out of circumstances that would be Events of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition), and (c) is not secured by any assets of any Person. For the avoidance of doubt, Unsecured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Unsecured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition.

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Derivative Instrument with respect to a Person, means any contract, instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the creditworthiness of the Issuer and/or any one or more of the Guarantors (the “Performance References”).