Injection Swaps

Injection Swaps. Shall be Swaps related to the price of Barrels during the Injection Month for which (A) Seller shall be the fixed price payor as defined in the Master Agreement and shall receive a floating price, (B) the notional volume associated with each Swap shall correspond to the number of Barrels to be purchased by Seller during such Injection Month, (C) the floating price for any calculation period shall always be (unless otherwise agreed in writing by Purchaser) the arithmetic average of the... settlement price per Barrel of West Texas Intermediate Light Sweet Crude Oil for each commodity business day in such calculation period on the NYMEX of the futures contract corresponding to the Injection Month during which such Batch (or other quantities) is originally purchased, and (D) the settlement date for such Swap shall be the 20th day (or the nearest Business Day) of the calendar month following the originally scheduled Off-take Month or, if delivery is thereafter delayed, the 20th day (or the nearest Business Day) of the calendar month following the amended Off-take Month during which Delivery is then anticipated, as evidenced by the amended Deal Sheet and Replacement Swap, if any, applicable thereto; and View More