Where a commercial agreement uses defined terms that have become incoherent due to successive amendments, the court will construe those terms to give them a sensible and coherent meaning in context. The parties' known standard business practice at the time of execution informs but does not fix the meaning of contractual language; the scope of contractual terms is not limited to the universe of transactions contemplated at the time of execution where the language is capable of accommodating future changes. A construction that gives one party a discretion to determine or influence the extent of payment obligations owed to the other is unlikely to have been objectively intended.
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