London Prevailing Time definition

London Prevailing Time or “LPT” means the prevailing time in London, United Kingdom;
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London Prevailing Time means the prevailing time in London;
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London Prevailing Time or “LPT” means “London Prevailing Time”, the prevailing time in London, United Kingdom. “Magellan” means Magellan Crude Oil Pipeline Company, L.P., and its successors. “MEH” or “Magellan MEH Terminal” or“ Magellan East Houston Terminal” means the crude oil storage terminal located in East Houstonowned and operated by Magellan used for the physical delivery of Permian WTI pursuant to these Contract Rules. located at 7901 Wallisville Road, Houston, Texas 77029. “ Midland WTI C ontract” or “Contract” means a crude oil futures contract governed by these Contract Terms, as may be amended by the Exchange from time to time. “Nominations Day” means one Business Day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a Non-Business Day, the Nomination Day shall be two Business Days prior to the Twenty-fifth calendar day of the month proceedingpreceding the delivery month. “ Non-Business Day” means a Trading Day which is a public holiday in US. “Payment DateNon- Business Day” means the twentieth day of the month following the delivery month if such date is a Business Day. If the twentieth is not a Business Day, the Payment Date shall be the first Business Day prior to the twentieth, unless the twentieth is a Sunday or a Monday that is not a Business Day. If the twentieth is a Sunday or a Monday that is not a Business Day, payment shall be made on the next Business Day after the twentieth day of the month following the delivery month.means a Trading Day that is a public holiday in US. For the purposes of the Contract Procedures, the ICE Clear Europe Delivery Procedures and any other clearing and settlement processes taking place at the Clearing House, a “Non-Business Day” shall mean a day on which the Clearing House is closed for business. “ Permian WTI” m eans West Texas Intermediate crude petroleum that originates from either Magellan’s Longhorn Crude System or BridgeTex Pipeline Company, LLC’s Crude System (or their respective successors and reasonably foreseeable extensions thereof). “ Permian WTI C ontract” means these contract rules together with the applicable Contract Procedures, as may be amended by the Exchange from time to time. “ Pipeline System” means the incoming or outgoing pipelines, and storage facilities located at Magellan East Houston Terminal, including Longhorn and BridgeTex pipelines. “Product” means a Permian Basin originated West Texas Intermediate crude oil as fur...
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Examples of London Prevailing Time in a sentence

  • In sections where more than one time zone is referenced, (e.g. both London Prevailing Time and Singapore Prevailing Time, or UAE Prevailing Time), this is for convenience only.


More Definitions of London Prevailing Time

London Prevailing Time or “LPT” meansthe prevailing time in London, United Kingdom; (p) “MFT” means ICE Clear Europe’s Managed File Transfer Service for reporting and data file
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Related to London Prevailing Time

  • Prevailing Exchange Rate means, for purposes of translating, as of any date, any amount in a non-U.S. currency to U.S. dollars, the spot mid-rate of exchange between such currencies prevailing as of 4 p.m., New York City time, on such date, as displayed on, or derived from, Bloomberg page “BFIX” (or, if such page is not available, its equivalent successor page) in respect of such currencies. If such rate cannot be determined as provided in the immediately preceding sentence on such date (which, for the purpose of this definition, will be deemed to be the “affected day”), then the Prevailing Exchange Rate for such date will be determined mutatis mutandis but with respect to the immediately preceding day on which such rate can be so determined; provided, however, that, if such immediately preceding day is before the fifth (5th) day before such affected day, or if such rate cannot be so determined, then the Prevailing Exchange Rate will be determined in such other commercially reasonable manner as determined by the Company in good faith.

  • London Banking Day means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

  • London Business Day Any day on which dealings in deposits of United States dollars are transacted in the London interbank market.

  • Term SOFR Screen Rate means the forward-looking SOFR term rate administered by CME (or any successor administrator satisfactory to the Administrative Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time).