11. Settlement:
A. Fixed / Floating amounts:
The Fixed Amount in respect of any relevant Pricing Period means the product, in US dollars
per metric tonne of the Fixed Price and the Notional Quantity, for such Pricing Period.
The Floating Amount in respect of any Pricing Period means the product, in US dollars per
metric tonne of the Floating Price and the Notional Quantity, for such Pricing Period.
B. Settlement amount and Payment:
Subject to any Rights of Set off set forth below, Settlement shall be made with respect to each
Pricing Period and shall be made in cash only.
The settlement amount in respect of each Pricing Period for each transaction under this
Confirmation shall be an amount equal to the absolute difference between the Fixed Amount
and the Floating Amount (whether determined in accordance with Market Disruption and
Fallback provisions or otherwise),such amount shall be paid by the Fixed Price Payer where
the Fixed Amount exceeds the Floating Amount and by the Floating Price Payer where the
Floating Amount exceeds the Fixed Amount.