Underlying Commodity Index definition

Underlying Commodity Index means a published index that is a measure of the price of the underlying commodity that is the subject of a Commodity Option. The source and calculation of the Underlying Commodity Index will be set forth in the Conversion Notification Letter. If the Underlying Commodity Index relating to a commodity is (i) not calculated and announced by the sponsor thereof in effect on the Commodity Conversion Date but is calculated and announced by a successor sponsor acceptable to the Calculation Agent, or (ii) replaced by a successor index using, in the determination of the Calculation Agent, the same or a substantially similar formula for and method of calculation as used in the calculation of the Underlying Commodity Index, then in each case that index will be the Underlying Commodity Index.
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Underlying Commodity Index means a commodities index which may constitute the Underlying Index in accordance with the Index Rules, as determined by the Index Calculation Agent.
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Examples of Underlying Commodity Index in a sentence

  • The Corporations’ only relationship to us (the “Licensee”) is in the licensing of the Underlying Commodity Index and S&P® trademarks or service marks and certain trade names of the Corporations and the use of the Underlying Commodity Index which is determined, composed and calculated by S&P without regard to the Licensee or the Securities.

  • The Corporations make no representation or warranty, express or implied, to the holders of the Securities or any member of the public regarding the advisability of investing in securities generally or in the Securities particularly, or the ability of the Underlying Commodity Index to track general agricultural commodity market performance.

  • S&P and Morgan Stanley have entered into a non-exclusivelicense agreement providing for the license to Morgan Stanley, and certain of its affiliated or subsidiary companies, in exchange for a fee, of the right to use the Underlying Commodity Index, which is owned and published by S&P, in connection with securities, including the Securities.

  • S&P has no obligation to take the needs of the Licensee or the owners of the Securities into consideration in determining, composing or calculating the Underlying Commodity Index.

Related to Underlying Commodity Index

  • Commodity contract means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  • commodity derivatives means commodity derivatives as defined in Article 2(1)(30) of Regulation (EU) No 600/2014;

  • Commodity Account is any “commodity account” as defined in the Code with such additions to such term as may hereafter be made.

  • Underlying Index means each of the S&P 500 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the S&P MidCap 400 Index and the Russell 2000 Index. The “Pricing Date” shall mean October 31, 2011. The “Starting Price” is 100.The “Ending Price” will be calculated based on the weighted returns of the Basket Components and will be equal to the product of (i) 100 and (ii) an amount equal to 1 plus the sum of: (A) 35% of the Component Return of the SPDR S&P 500 ETF Trust; (B) 20% of the Component Return of the iShares MSCI EAFE Index Fund; (C) 20% of the Component Returnof the iShares MSCI Emerging Markets Index Fund; (D) 15% of the Component Return of the SPDR S&P MidCap 400 ETF Trust; and (E) 10% of the Component Return of the iShares Russell 2000 Index Fund. The “Component Return” of a Basket Component will be equal to:Final Component Price – Initial Component Price Initial Component Price where, • the “Initial Component Price” is the Fund Closing Price of such Basket Component on the Pricing Date; and • the “Final Component Price” will be the Fund Closing Price of such Basket Component on the Calculation Day. The Initial Component Prices of the Basket Components are as follows: SPDR S&P 500 ETF Trust ($125.45); iShares MSCI EAFE Index Fund ($52.37); iShares MSCI Emerging Markets Index Fund ($40.80); SPDR S&P MidCap 400 ETF Trust ($161.40); and iShares Russell 2000 Index Fund ($73.97). The “Fund Closing Price,” with respect to a Basket Component on any Trading Day, means the product of (i) the Closing Price of one share of such Basket Component (or one unit of any other security for which a Fund Closing Price must be determined) on such Trading Day and(ii) the Adjustment Factor applicable to such Basket Component on such Trading Day. The “Closing Price” with respect to a share of a Basket Component (or one unit of any other security for which a Closing Price must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. The “Adjustment Factor” means, with respect to a share of a Basket Component (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to adjustment in the event of certain events affecting the shares of such Basket Component. See “Anti-dilution Adjustments Relating To A Basket Component; Alternate Calculation—Anti- dilution Adjustments.” The “Capped Value” is 185% of the Face Amount of this Security. The “Threshold Price” is equal to 60% of the Starting Price.The “Participation Rate” is 150%.

  • SIFMA Municipal Swap Index means the Securities Industry and Financial Markets Association Municipal Swap Index, or such other weekly, high-grade index comprised of seven-day, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or its successor, or as otherwise designated by the Securities Industry and Financial Markets Association; provided, however, that if such index is no longer produced by Municipal Market Data, Inc. or its successor, then SIFMA Municipal Swap Index shall mean (i) the S&P Municipal Bond 7 Day High Grade Rate Index produced by Standard & Poor’s Financial Services LLC or its successors or (ii) if the S&P Municipal Bond 7 Day High Grade Rate Index is no longer produced, such other reasonably comparable index selected in good faith by the Board of Trustees of the Fund.

  • Financial Futures Contract means the firm commitment to buy or sell fixed income securities including, without limitation, U.S. Treasury Bills, U.S. Treasury Notes, U.S. Treasury Bonds, domestic bank certificates of deposit, and Eurodollar certificates of deposit, during a specified month at an agreed upon price.

  • Stock Index Futures Contract means a bilateral agreement pursuant to which the parties agree to take or make delivery of an amount of cash equal to a specified dollar amount times the difference between the value of a particular stock index at the close of the last business day of the contract and the price at which the futures contract is originally struck.

  • Commodity Futures Trading Commission means the independent regulatory agency established by congress to administer the Commodity Exchange Act.

  • Commodity Interests means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of:

  • Commodity Agreement means any forward contract, commodity swap, commodity option or other financial agreement or arrangement relating to, or the value of which is dependent upon, fluctuations in commodity prices.

  • Credit Risk Manager Fee Rate 0.0125% per annum.

  • Commodity intermediary means a person that:

  • Hazard Index means the sum of two or more hazard quotients for multiple hazardous substances and/or multiple exposure pathways.

  • Commodity customer means a person for which a commodity intermediary carries a commodity contract on its books.

  • Commodity means any material, article, supply, goods, or equipment.

  • Commodity Hedging Agreement means a commodity hedging or purchase agreement or similar arrangement entered into with the intent of protecting against fluctuations in commodity prices or the exchange of notional commodity obligations, either generally or under specific contingencies.

  • Commodity option means an account, agreement, or contract giving a party to the account, agreement, or contract the right but not the obligation to purchase or sell one or more commodities or one or more commodity contracts, whether characterized as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, decline guaranty or otherwise, but shall not include an option traded on a national securities exchange registered with the United States securities and exchange commission.

  • Retail Prices Index means the retail prices index for the whole economy of the United Kingdom and for all items as published from time to time by the Office for National Statistics as “RPI” or, if such index shall cease to be published or there is, in the reasonable opinion of the Secretary of State, a material change in the basis of the index or if, at any relevant time, there is a delay in the publication of the index, such other retail prices index as the Secretary of State may, after consultation with the Franchisee, determine to be appropriate in the circumstances;

  • Commodity Agreements means, in respect of any Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement in respect of Hydrocarbons used, produced, processed or sold by such Person that are customary in the Oil and Gas Business and designed to protect such Person against fluctuation in Hydrocarbon prices.

  • Futures Contract means a Financial Futures Contract and/or Stock Index Futures Contracts.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Credit Risk Manager Fee The fee payable to the Credit Risk Manager on each Distribution Date for its services as Credit Risk Manager, in an amount equal to one-twelfth of the Credit Risk Manager Fee Rate multiplied by the Stated Principal Balance of the Mortgage Loans immediately prior to such Distribution Date. Credit Risk Manager Fee Rate: 0.0165% per annum.

  • Average Daily Managed Assets of the Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. Subject to the provisions of Section 5 below, the accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.

  • Foreign market vehicle means any motor vehicle originally manufactured outside the United States,

  • Retail Price Index means the general index of retail prices published by the Office for National Statistics each month in respect of all items or:

  • Day-ahead Loss Price means the Loss Price resulting from the Day-ahead Energy Market.