Commodity Swap definition

Commodity Swap means an agreement entered into between the Borrower or a Designated Subsidiary and a counterparty on a case by case basis, the purpose and effect of which is to mitigate or eliminate the Borrower’s or such Designated Subsidiary’s exposure to fluctuations in commodity prices;

Commodity Swap means a lending arrangement in which repayment is in a commodity or is based on a commodity price;

Commodity Swap means any commodity swap, commodity option or commodity forward contract (including any option to enter into any of the foregoing).

Examples of Commodity Swap in a sentence

• If on the settlement day the fixed price and the market price of the Transaction’s underlying commodity are different, the parties must pay to difference to one another regarding the defined amount (net settlement) in a way that if the fixed price in the agreement is higher than the market price, the buyer of the Commodity Swap, and if the market rate is higher than the fixed price, the seller of the Commodity Swap will have to make a payment to the other party.

• Another type of Swaps is Commodity Swap Agreements where the contracting parties agree to exchange payments on a pre-agreed quantity of a commodity (crude oil or refined products, precious metals, agricultural commodities), with the one party paying a fixed price for the good and the other party paying a floating price.

• The Borrower will not, and will not permit any other Loan Party to, enter into or maintain any Exchange Rate Swap Contract, Interest Rate Swap Contract, Commodity Swap Contract and any other derivative agreement or other similar agreement or arrangements (collectively, the “Hedging Agreements”), unless such Hedging Agreement is entered into for hedging purposes only in the ordinary course of business and not for speculative purposes.

• The Borrower will not, and will not permit any other Loan Party to, enter into or maintain any Exchange Rate Swap Contract, Interest Rate Swap Contract, Commodity Swap Contract and any other derivative agreement or other similar agreement or arrangements (collectively, the "Hedging Agreements"), unless such Hedging Agreement is entered into for hedging purposes only in the ordinary course of business and not for speculative purposes.

• ACQ = Adjusted Daily Contract Quantity; DCQ = [6,000]; AD = Additional Discount; SF = The average of the fees paid to Commodity Swap Counterparties under the Commodity Swaps; and MD = Monthly Discount EXHIBIT C FORM OF ASSET MANAGEMENT AGREEMENT [To be attached.] ME1 32505648v.1 HB Draft 20 January 2020 ASSET MANAGEMENT AGREEMENT [ ], 2020 This Asset Management Agreement (this “AMA”) is entered into on the date set forth above by and between X.

More Definitions of Commodity Swap

Commodity Swap means the swap of the Fixed Amount and the Floating Amount for a period of time limited by the duration of the Calculation Period, whose level depends on changes in the price of the Commodity concerned during an agreed period in the future. One of the parties agrees to pay the other party a predetermined, fixed price for the Commodity (the Fixed Amount) in exchange for receiving payments from the other party based on the market price of the Commodity concerned (the Floating Amount).

Commodity Swap means (a) any and all commodity swaps, commodity options, forward commodity contracts, commodity cap, floor or collar transactions, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement relating to any of the kinds of transactions in the preceding clause (a) (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

Commodity Swap means (i) the ISDA Master Agreement dated as of

Commodity Swap has the meaning set forth in the Indenture.

Commodity Swap means an agreement entered into between the Borrower and a counterparty on a case by case basis, the purpose and effect of which is to mitigate or eliminate the Borrower's exposure to fluctuations in commodity prices;

Commodity Swap. A transaction in which one party pays periodic amounts of a given currency based on a fixed price and the other party pays periodic amounts of the same currency based on the price of a commodity, such as natural gas or gold, or a futures contract on a commodity (e.g., West Texas Intermediate Light Sweet Crude Oil on the New York Mercantile Exchange); all calculations are based on a notional quantity of the commodity. Contingent Credit Default Swap. A Credit Default Swap Transaction under which the calculation amounts applicable to one or both parties may vary over time by reference to the mark-­‐to-­‐market value of a hypothetical swap transaction. Credit Default Swap Option. A transaction in which one party grants to the other party (in consideration for a premium payment) the right, but not the obligation, to enter into a Credit Default Swap.

Commodity Swap. A transaction in which one party pays periodic amounts of a given currency based on a fixed price and the other party pays periodic amounts of the same currency based on the price of a commodity, such as natural gas or gold, or a futures contract on a commodity (e.g., West Texas Intermediate Light Sweet Crude Oil on the New York Mercantile Exchange); all calculations are based on a notional quantity of the commodity. Contingent Credit Default Swap. A Credit Default Swap Transaction under which the calculation amounts applicable to one or both parties may vary over time by reference to the xxxx-to-market value of a hypothetical swap transaction. Credit Default Swap Option. A transaction in which one party grants to the other party (in consideration for a premium payment) the right, but not the obligation, to enter into a Credit Default Swap.