Scrap Price definition

Scrap Price means, in relation to a the Vessel, the Dollars price per ton for a vessel of the Vessel’s type quoted by scrap-yards in the Indian subcontinent as such price is reported at any relevant time in the most recent Clarksons Weekly Report or any other report acceptable to the Lender;
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Examples of Scrap Price in a sentence

  • If the price stated in the Contract is based on market pricing as published in trade publications such as “ Scrap Price Bulletin” or “American Metal Market” then ProTrade reserves the right to adjust its pricing formula in the event that such publication makes it known that they have reassessed or changed their market appraisals independent of the market move for that month.

  • If the price stated in the Contract is based on market pricing as published in trade publications such as "Scrap Price Bulletin" or "American Metal Market" then ProTrade reserves the right to adjust its pricing formula in the event that such publication makes it known that they have reassessed or changed their market appraisals independent of the market move for that month.