NYMEX Last Day Settle definition
NYMEX Last Day Settle means the expiration price of the natural gas contract on the day that trading of the underlying monthly contract is terminated.
NYMEX Last Day Settle or “NYM LDS” shall mean the price in dollars per MMBtu equal to the closing price on the New York Mercantile Exchange for natural gas futures contracts for delivery at the ▇▇▇▇▇ Hub for the month of delivery hereunder, on the last day on which futures contracts for that month were traded. “Other Agreement Amounts” shall mean any amount (whether under this Agreement, or otherwise) (i) the Non-Defaulting Party or its affiliate may owe the Defaulting Party (whether or not then due) or (ii) any adequate assurance of performance (howsoever termed) provided by the Defaulting Party for the benefit of the Non-Defaulting Party or its affiliate. “Secondary Firm” shall mean that either Party may interrupt its performance only to the extent that such performance is prevented by either (i) an event of Force Majeure, or (ii) a curtailment in Firm transportation using secondary receipt or delivery points. “Transporter(s)” shall mean any natural gas gathering company, pipeline company, local distribution company, or utility, transporting natural gas for Seller or Buyer upstream or downstream, respectively, of the Delivery Point pursuant to an effective Confirmation. “Transporter Citygate” shall mean any interconnection between Buyer’s Transporter’s distribution system and Seller’s Transporter’s system. To the extent that a Transporter requires the designation of a specific interconnection for receipts or deliveries, such designation shall be at Seller’s choice and in its sole discretion. “Usage or Use” shall mean for the applicable meter, the difference in meter readings recorded by Transporter during a specific period of time. The difference in meter readings may be converted by Transporter to a caloric measurement pursuant to the applicable Transporter tariff.