OPIS Index definition

OPIS Index means the monthly average of the daily average (AVG) prices per Gallon, for the Month of delivery, as quoted by Oil Price Information Service (“OPIS”) in the OPIS-LP-Gas Report for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Non-TET prices for the propane, isobutane, normal butane, and natural gasoline Components; and (ii) the Purity Ethane price for the ethane Component. The OPIS Index is not to include any TET, Oth, or other categories of Component prices that might be published by OPIS during the Term. No value will be given to CO2 or other impurities or for methane in excess of the Carrier's Product Specifications.
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OPIS Index means the Oil Price Information Service Index.
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OPIS Index means the Monthly average of the daily high and low prices per Gallon, for the applicable Month, as quoted by the Oil Price Information Service (“OPIS”) for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Non-TET prices for the Propane, Isobutane, Normal Butane and Natural Gasoline Specification Products (as defined in this Section 2 below under “Specification Products”); and (ii) the purity ethane price for the Ethane Specification Product. Should any of the indices referenced above be discontinued, the parties shall mutually agree upon a comparable successor index and/or publication.
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Examples of OPIS Index in a sentence

  • The Shipper Cash Out Position equals the sum of (i) each Component Imbalance multiplied by (ii) the corresponding OPIS Index less $0.11 per gallon.

  • If for any reason the OPIS Index for a particular NGL Component or any other index used in the calculations made pursuant to Section 4.1 should (i) cease to be published or (ii) be materially changed, the Parties agree promptly and in good faith to negotiate a mutually satisfactory alternate index or substitute methodology for calculating the price for such Component (the “Alternate Index”).

  • The Proposer provides clear and convincing proof that market conditions unrelated to the OPIS Index have been materially altered from those that existed at the time of award or renewal of contract.

  • The use of the OPIS Index prices becomes non-representative of the market.

  • If for any reason the OPIS Index for a particular Product should (i) cease to be published or (ii) be materially changed, the Parties agree promptly and in good faith to negotiate a mutually satisfactory alternate index or substitute methodology for calculating the price for such Product (the “Alternate Index”).

  • Commencing with the Effective Date and continuing for each Month of the Term, Buyer shall reimburse Seller for (a) the purchase of Feedstock for sale under this Agreement at a deemed purchase price equal to the OPIS Index, plus (b) all commercially reasonable and verifiable costs incurred (excluding internal costs of Seller) for the storage, handling, and transportation of such quantities from the Mont Belvieu pricing point to the applicable Receipt Points.

  • On average, the County purchases approximately 145,000 gallons of mid-grade gasoline and 70,000 gallons of Ultra-Low diesel.6.2.6 Awarded vendor must provide a copy of the Daily OPIS Index Newsletter during the full term of the contract resulting from this ITB, showing the daily OPIS Rack Average price for the terminal where vendor purchased the fuel, for the dates of fuel delivery.6.2.7 The Vendor shall keep an adequate supply of gasoline and diesel fuel available to fill requirements at all times.

  • Base Fuel Price: The base fuel price will be set from the Oil Price Information Services (OPIS) Daily Rack average of the motor fuel prices published in the OPIS Index Newsletter at the close of business each day for the Port of Tampa, Florida, Pad 1 Terminal.

  • Auditors will make every effort to ensure production is not disrupted during the employment site tour, whilst ensuring that they are able to view the production area during busy production periods.

  • Determining flood lines is an engineering exercise that requires knowledge and expertise of scientific principles in hydrology and hydraulics.


More Definitions of OPIS Index

OPIS Index shall have the meaning set forth in Section 5.2(a).
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OPIS Index means the monthly average of the daily high and low prices per Gallon, for the month of delivery, as quoted by Oil Price Information Service, or its successor-in-interest, in the OPIS LPG Report for “Any Current Month” under “Mont Belvieu Spot Gas Liquids Prices” using (i) the Purity Ethane prices for Ethane (“Ethane Price”), and (ii) the “Non-TET” prices for Propane (“Propane Price”).
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OPIS Index means the daily products rack price published by the Oil Price Information Service (“OPIS”).
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