Location Spread Position definition

Location Spread Position the aggregate quantity of Product, measured in Barrels, purchased or sold (actually or on a contingent basis and current or for future time periods) under Commodities Contracts relating to Product (including without limitation any futures or option Commodities Contracts) that is hedged by a sale or purchase under another Commodities Contract at a different delivery location less the hedging impact from any related transportation contract.
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Related to Location Spread Position

  • Closed Position means the opposite of an Open Position.

  • Consideration Spreadsheet has the meaning set forth in Section 2.16(a).

  • Excess Spread Percentage means, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Scheduled Closing Date Has the meaning specified in the Note Purchase Agreement.

  • Sixty-Plus Delinquency Percentage With respect to any Distribution Date and the Mortgage Loans, the arithmetic average, for each of the three Distribution Dates ending with such Distribution Date, of the fraction, expressed as a percentage, equal to (x) the aggregate Stated Principal Balance of the Mortgage Loans that are 60 or more days delinquent in payment of principal and interest for that Distribution Date, including Mortgage Loans in foreclosure and REO, over (y) the aggregate Stated Principal Balance of all of the Mortgage Loans immediately preceding that Distribution Date.