A contractual pricing mechanism referencing a 'prevailing published annual FOB price' for iron ore products is not confined to prices derived from the now-defunct Annual Benchmark Pricing System; it encompasses market reference prices ascertainable from current index-based pricing systems. Where a royalty formula references market prices that were historically set by one mechanism, the contractual language may be broad enough to accommodate industry transitions to alternative pricing mechanisms. Parties to agreements containing expert determination clauses requiring joint requests for appointment are obliged to cooperate in good faith in making such requests, and refusal to do so may constitute breach. The [name withheld] constraint on claiming amounts falling due after commencement of proceedings may be overcome where New South Wales procedural rules apply via cross-vesting legislation.
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