Floating Price definition

Floating Price means the price or a factor of the price agreed to in the transaction as being based upon a specified index. "Market Disruption Event" means, with respect to an index specified for a transaction, any of the following events: (a) the failure of the index to announce or publish information necessary for determining the Floating Price; (b) the failure of trading to commence or the permanent discontinuation or material suspension of trading on the exchange or market acting as the index; (c) the temporary or permanent discontinuance or unavailability of the index; (d) the temporary or permanent closing of any exchange acting as the index; or (e) both parties agree that a material change in the formula for or the method of determining the Floating Price has occurred. For the purposes of the calculation of a replacement price for the Floating Price, all numbers shall be rounded to three decimal places. If the fourth decimal number is five or greater, then the third decimal number shall be increased by one and if the fourth decimal number is less than five, then the third decimal number shall remain unchanged.

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Floating Price means a Contract Price specified in a Transaction that is based upon a Price Source.

Floating Price means a price per unit in $U.S. specified in a Transaction that is based upon a Price Source. (iv) “Market Disruption Event” means, with respect to any Price Source, any of the following events: (a) the failure of the Price Source to announce or publish the specified Floating Price or information necessary for determining the Floating price; (b) the failure of trading to commence or the permanent discontinuation or material suspension of trading in the relevant options contract or commodity on the Exchange or in the market specified for determining a Floating Price; (c) the temporary or permanent discontinuance or unavailability of the Price Source; (d) the temporary or permanent closing of any Exchange specified for determining a Floating Price; or (e) a material change in the formula for or the method of determining the Floating Price. (v) “Price Source” means, in respect of a Transaction, the publication (or such other origin of reference, including an Exchange) containing (or reporting) the specified price (or prices from which the specified price is calculated) specified in the relevant Transaction. (vi) “Trading Day” means a day in respect of which the relevant Price Source published the Floating Price.

Examples of Floating Price in a sentence

For the purposes of the calculation of a Floating Price, all numbers shall be rounded to three (3) decimal places.
If either party fails to provide two quotes then the average of the other party’s two quotes shall determine the replacement price for the Floating Price.
If either party fails to provide up to two quotes, then the average of all quotes obtained shall determine the replacement price for the Floating Price.
For purposes of determining a Floating Price for any day, if the price published or announced on a given day and used or to be used to determine a relevant price is subsequently corrected and the correction is published or announced by the person responsible for that publication or announcement within two (2) years of the original publication or announcement, either Party may notify the other Party of (i) that correction and (ii) the amount (if any) that is payable as a result of that correction.
If, for any Settlement Period, the aggregate amount owed by the Floating Price Payer to the Fixed Price Payer is greater than the aggregate amount owed by the Fixed Price Payer to the Floating Price Payer, then the Floating Price Payer shall pay the difference between such amounts to the Fixed Price Payer on the relevant Payment Date.

More Definitions of Floating Price

Floating Price means the price specified in the Transaction as being based upon a specified index.

Floating Price means a pricing method for a spot market transaction in which the buyer and seller agree that the cash price will be determined at some future time and agree on an event or a specific timeframe and pricing reference from which the cash price will be set.

Floating Price means the price for a Unit of the Commodity determined by the Bank for the automatic exercise of the Commodity Option in accordance with these Terms and Conditions.

Floating Price means a price for a Unit of the Commodity calculated by the Bank and recorded in the Confirmation as floating price.

Floating Price means, in respect of any Settlement Date or Payment Date, a price, expressed as a price per relevant Unit, for the related Calculation Period equal to:

Floating Price. The arithmetic average of the daily settlement prices for the prompt month of the NYMEX Light Sweet Crude Oil Futures Contract for each NYMEX Trading Day during the applicable Determination Period CONTRACTUAL CURRENCY: US Dollars GOVERNING LAW: Texas GENERAL TERMS AND CONDITIONS OF CONFIRMATIONS: The general terms and conditions contained in Annex A attached hereto and made a part hereof apply and are incorporated herein by reference

Floating Price means, for a Financially Settled Futures Transaction, the floating price for the applicable Financially Settled Futures Product determined as specified in the ICE NGX Product List and this Schedule;