Setting WTI Differentials Sample Clauses

Setting WTI Differentials. The WTI Differential component of the Price (component D of the Price formula in Schedule 5) applicable to the Nominated Volumes related to a particular Consumption Month will be established ratably (by WTI Hedge Volume) based on the applicable ***** effective on each ***** from (and including) the ***** day of the second month preceding the Consmption Month (or the next Business Day if applicable) to the ***** prior to the day on which the ***** contract expires during the month preceding the Consumption Month (the “Pricing Period”) ***** (applied only to the prices for ***** purchases) (such pricing mechanism, the “Ratable Method”). In lieu of the foregoing method for the determination of the WTI Differential, TRC may notify MSCG on or prior to the date of MSCG’s delivery of the WTI Differential Report that it would like MSCG to establish fixed values for the WTI Differentials by mutual agreement. In such case, TRC shall notify MSCG on each ***** during the Pricing Period of the volume it wishes to establish WTI Differential values for on such day (such notification a “Fixed Value Request”), provided that if MSCG does not receive a Fixed Value Request on any *****, MSCG will not seek to establish WTI Differential values on such day. MSCG shall make commercially reasonable efforts to fulfill each Fixed Value Request based on the then-current forward ***** for the applicable WTI Hedge Volume. The WTI Differential may be established in volumes of 100,000 Barrels up to the full volumes listed in the Initial Nomination (as amended from time to time) relating to the Nominated Volumes that would be processed or sold for the Consumption Month. Upon establishing a WTI Differential for a particular volume to be processed or sold in a Consumption Month pursuant to a Fixed Value Request, MSCG shall send a confirmation to TRC confirming the value of such WTI Differential, and TRC shall execute such confirmation and deliver a copy of the executed confirmation back to MSCG. If, using commercially reasonable efforts, MSCG is unable to fulfill any Fixed Value Request with respect to a volume as of any ***** during the Pricing Period, then no WTI Differential will be set as to such volume on such day. MSCG shall price any portion of the ***** and otherwise in accordance with the Ratable Method; provided that if greater than *****% of the total WTI Hedge Volume remains unpriced as of the end of the ***** prior to the ***** contract expiration, then MSCG will establish a WT...
View SourceView Similar (3)
Setting WTI Differentials. The WTI Differential component of the Price (component D of the Price formula in Schedule 5) applicable to the Nominated Volumes related to a particular Consumption Month will be established ratably (by WTI Hedge Volume), based on the applicable [REDACTED] effective on each [REDACTED] from (and including) the [REDACTED] of the second month preceding the Consumption Month (or the next Business Day if applicable) to the [REDACTED] prior to the day on which the [REDACTED] expires during the month preceding the Consumption Month (the “Pricing Period”), [REDACTED] (applied only to the prices for [REDACTED] purchases) (such pricing mechanism, the “Ratable Method”).
View Source

Related to Setting WTI Differentials

  • Shift Differentials 18.1 Employees whose regularly assigned shifts commence between 1400 and 2159 hours shall receive a shift differential of seventy-five cents (75¢) per hour, and employees whose regularly assigned shifts commence between 2200 and 0559 hours shall receive a shift differential of eighty cents (80¢) per hour. Effective January 1, 2005, for employees whose regularly assigned shifts commence between 2200 and 0559 hours shall receive a shift differential of one dollar ($1) per hour. Overtime shall not be calculated on the shift differential nor shall the shift differential be paid for paid absence from duty such as vacations, general holidays, etc.

  • Shift Differential A. Shift differential will be $.60 cents per hour. B. Employees eligible for shift differential are those whose work shift begins before 6:00 a.m. or ends on or after 7:00 p.m. and are scheduled by their supervisor for a total shift of at least six (6) hours in duration. This shift differential shall not apply to those employees who have requested and have been granted flexible work scheduling.

  • Bilingual Differential When formally assigned in the employee’s position description, an employee assigned to interpret to or from another language to English will receive a differential of five percent (5%) of base pay.

  • Night Shift Differential Unit 12 employees who regularly work shifts shall receive a night shift differential as set forth below: A. Employees shall qualify for the first night shift pay differential of forty (40) cents per hour where four (4) or more hours of the regularly scheduled work shift falls between 6 p.m. and 12 midnight. B. Employees shall qualify for the second night shift pay differential of fifty (50) cents per hour where four (4) or more hours of the regularly scheduled work shift fall between 12 midnight and 6 a.m. C. A "regularly scheduled work shift" are those regularly assigned work hours established by the department director or designee.

  • Weekend Differential Employees assigned to State institutions other than Maine State Prison shall be eligible for a weekend differential of fifty cents ($.50) per hour to the base for shifts beginning between 10:00 p.m. Friday and 9:59 p.m.