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.

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

Examples of OPIS Index in a sentence

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”).
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.
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”).
Additionally, ▇▇▇▇▇▇▇ County Precinct No. 4 reserves the right to independently verify changes in OPIS pricing and to modify an invoice amount based on a 10% change in the OPIS Index.
The base price on diesel fuel shall be set as determined by the OPIS Index for the Vander burgh County area for the Rack Average Price on Ultra Low Sulfur (ULS) diesel fuel on the date of award.
For each Component the corresponding OPIS Index shall be as follows: Ethane [***] Ethane [***] Propane [***] Propane Iso Butane [***] Iso Butane Normal Butane [***] Normal Butane Natural Gasoline [***] Natural Gasoline Methane shall have no value.
In the event the applicable [***] OPIS Index ceases to be published, the Parties shall promptly agree upon an alternative index to be utilized.

More Definitions of OPIS Index

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.

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”).

OPIS Index shall have the meaning set forth in Section 5.2(a).

OPIS Index means the monthly average of the daily high and low prices per Gallon, for the month of delivery, as quoted by the 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-

OPIS Index means the daily products rack price published by the Oil Price Information Service (“OPIS”).