Notional Quantity definition

Notional Quantity has the meaning given in item 3.9 of Schedule 1 (“Support terms”).

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Notional Quantity means, with respect to a Commodity Conversion, the number of units of the underlying commodity.

Notional Quantity. – means the size of the OTCI transaction expressed either outright, or in accordance with the number of contracts underlying the OTCI transaction.

Examples of Notional Quantity in a sentence

• The “Annual Revenue Floor” in respect of the Financial Year is calculated as follows: where: ARFFY = the Annual Revenue Floor for the Financial Year; ∑NQTI = the sum of the Notional Quantity for all Trading Intervals in the Financial Year calculated in accordance with item 3.9 (“Calculation of Notional Quantity”); and AFFY = the Annual Floor for the Financial Year applicable to the Financial Year.

• The “Annual Revenue Ceiling” in respect of a Financial Year is calculated as follows: where: ARCFY = the Annual Revenue Ceiling for the Financial Year; ∑NQTI = the sum of the Notional Quantity for all Trading Intervals in the Financial Year calculated in accordance with item 3.9 (“Calculation of Notional Quantity”); and ACFY = the Annual Ceiling for the Financial Year applicable to the Financial Year.

• The “Green Product Revenue” in respect of a period is calculated as follows: where: GPRP = the Green Product Revenue for the period; ∑NQTI = the sum of the Notional Quantity for all Trading Intervals in the period calculated in accordance with item 3.9 (“Calculation of Notional Quantity”); and GPPP = the market price (in $/MWh) for the Green Product for the period determined in accordance with item 3.13 (“Determination of market prices”).

• If Total PTID Volume is (i) equal to or (ii) greater than the Notional Quantity, then Settlement Amount equals: (Floating Price times Notional Quantity) (Fixed Price times Notional Quantity).

• As of December 31, 2015, the Partnership had the following outstanding commodity contracts that were executed to manage the cash flow risk associated with future sales of NGLs: Derivative contracts not designated as hedging instruments Financial Position Notional Quantity (net) Crude Oil (bbl) Short 109,800 NGLs (gal) Short 43,837,756 The Partnership has a commodity contract with a producer customer in the Southern Appalachian region that creates a floor on the frac spread for gas purchases of 9,000 Dth/d.

More Definitions of Notional Quantity

Notional Quantity means the notional quantity of the underlying commodity agreed to by Exchange and the Contracting Party, upon entering into a Financially Settled Futures Transaction, which forms the basis of settlement for the Financially Settled Futures Transaction and is referred to in the respective Financially Settled Futures Confirmation as the Notional Quantity;

Notional Quantity means, in respect of a Precious Metal Transaction or Option, the quantity designated as such in the relevant Confirmation as the quantity of the relevant Precious Metal by reference to which the amount due to be paid under such Precious Metal Transaction or Option is calculated;

Notional Quantity means, in respect of a Calculation Period, Units specified in the relevant Confirmation for that Calculation Period.

Notional Quantity means the quantity of gas or financial power agreed to by Exchange and the Contracting Party upon entering into a Futures Transaction, which forms the basis of settlement for the Futures Transaction and is referred to in the respective Futures Confirmation as the Notional Quantity;

Notional Quantity means, in respect of a Commodities Transaction or a Precious Metal Transaction, the quantity designated as such in the relevant Confirmation as the quantity of the relevant Commodities or Precious Metal by reference to which the amount due to be paid under such Commodities Transaction or Precious Metal Transaction is calculated;

Notional Quantity means, for each Interval, the sum of the contract quantity of electricity (in MWh) for each hour or fraction thereof in such Interval, for which PROJECT ORANGE and NIAGARA are contractually committed. The contract quantities for Contract Years during the Proxy-Market Price Period are set forth in Schedule 2A attached hereto. The contract quantities for Contract Years after the Proxy-Market Price Period are set forth in Schedule 2B attached hereto. NYPSL: Shall mean the New York Public Service Law, as amended.

Notional Quantity means, in respect of a Swap Transaction and a Commodity Group, the quantity of that Commodity Group identified as such in the confirmation evidencing that Swap Transaction, as determined in accordance with clause 2(d) or 3 above (as applicable);