Benchmark Price shall have the meaning ascribed to the term in Section 1.1 of the relevant Trust Agreement.

Benchmark Price means, as of any day, (i) such day’s London’s Fix; or (ii) other publicly available price as the Sponsor, in consultation with the Trustee, may determine fairly represents the commercial value of Silver held by the Trust.

Benchmark Price means, in the case of any Excess Shares sold pursuant to this Section 4(k)(ii), (x) during the period commencing on the Closing Date and ending on the eighteen (18) month anniversary of the Closing Date, the greater of the Fair Market Value per share of the Excess Shares and the price per share paid hereunder for the Shares at the Closing, and (y) at any time after the eighteen (18) month anniversary of the Closing Date, the Fair Market Value per share of such Excess Shares.

Examples of Benchmark Price in a sentence

If the Settlement Price of last Contract in the same Contract series is not available, then the Settlement Price of the last Contract of the previous Contract series is the Benchmark Price.
Balance of Month Contracts: the Benchmark Price is the Settlement Price of the last Contract in the same Contract series.
The value of these instruments is determined wholly or in part by the Chicago Benchmark Price.
The Chicago Benchmark Price is set by reference to the daily price of ethanol traded at the Argo Terminal.
The Chicago Benchmark Price and the Chicago OPIS Price (defined below) are the dominant indexes used to determine the price in Producer Sales Contracts for ethanol sold throughout the United States.

More Definitions of Benchmark Price

Benchmark Price means, as of any day, that publicly available per ounce price of Bullion used by the Trust on such day to value the Trust’s Bullion, which is expected to be the London PM Fix but is subject to change by the Sponsor in accordance with the Trust Agreement;

Benchmark Price means, as of any day, (i) such day’s LBMA Gold Price PM or such day’s LBMA Gold Price AM if such day’s LBMA Gold Price PM is not available; or (ii) such other publicly available price which is reasonably available to the Trustee and which the Sponsor may determine fairly represents the commercial value of gold held by the Trust and instructs the Trustee to use as the Benchmark Price.

Benchmark Price means, in the case of any Excess Shares sold pursuant to this Section 4(n)(ii), (x) during the period commencing on the Closing Date and ending on the eighteen (18) month anniversary of the Closing Date, the greater of the Fair Market Value per share of the Excess Shares and the price per share paid hereunder for the Shares at the Closing, and (y) at any time after the eighteen (18) month anniversary of the Closing Date, the Fair Market Value per share of such Excess Shares.

Benchmark Price means, as of any day, (i) such day’s London PM Fix; (ii) such day’s London AM Fix (i.e., the morning session of the twice daily fix of the price of a Fine Ounce, which starts at 10:30 AM London, England, time and is performed in London by the five members of the London gold fix) if such day’s London PM Fix is not available; or (iii) such other publicly available price the Sponsor may determine fairly represents the commercial value of gold held by the Trust;

Benchmark Price means the price which is the higher of:

Benchmark Price means, as of any day, as applicable (i) such day’s London PM Fix for Platinum or Palladium or such day’s London Fix for Silver; or (ii) other publicly available price as the Sponsor may determine fairly represents the commercial value of Silver, Platinum or Palladium held by the Trust.

Benchmark Price means the higher of: