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Enron Mail |
one suggestion on the last sentence.
"In the event that the settlement price published by the Monomers Market=20 Report includes both a high and low price then the Floating Price shall be= =20 the arithmetic average of such high and low prices." thanks, lee =20 =09 =09 =09From: Larry Joe Hunter 09/12/2000 06:42 PM =09 To: Sara Shackleton/HOU/ECT@ECT cc: Kevin Meredith/Corp/Enron@ENRON, Lee Jackson/HOU/ECT@ECT=20 Subject: Shell Chemical - Index language Sara, We have a Counterparty with a request to adjust our Floating Price language= =20 for Propylene so that a couple of things will be specified. =20 1) the published rate is currently one price only. They do not specify a= =20 high and low (But it is possible that a high and low do get published) 2) the publication calls the price "settlement" price in the description.= =20 Therefore, this Counterparty wishes to see that language included.=20 Current: The Floating Price for each Calculation Period shall be the arithmetic=20 average of the high and low price of Propylene - chemical grade in=20 Cents/Pound published under the headings =01&North America Product Prices f= or=20 the applicable month: CG Propylene Contract=018 in the month-end issue of= =20 Chemical Market Associates, Inc.=01,s Monomers Market Report for the applic= able=20 Calculation Period Suggested The Floating Price for each Calculation Period shall be the settlement pric= e=20 for the applicable Calculation Period of Propylene - chemical grade in=20 Cents/Pound published under the headings =01&North America Product Prices f= or=20 the applicable month: CG Propylene Contract=018 in the month-end issue of= =20 Chemical Market Associates, Inc.=01,s Monomers Market Report for the applic= able=20 Calculation Period. In the event that Monomers Market Report publishes bot= h=20 a high and low price then the Floating Price shall be the arithmetic averag= e=20 of such high and low prices. Give me a call in the morning and I'll get you a copy of the CMAI publicati= on. Thanks, Joe
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