Failure to Achieve Completion Clause Samples

Failure to Achieve Completion. The Fort ▇▇▇▇ Physical Completion Date shall not have occurred on or prior to March 31, 1997 or the Fort ▇▇▇▇ Economic Completion Date shall not have occurred on or prior to January 31, 1998.

Failure to Achieve Completion. The Borrower shall have failed to achieve Completion by the Limit Completion Date;

Failure to Achieve Completion. (a) In the event that any Completion Target is not achieved on or prior to the relevant date for achievement thereof provided for in Section 4.2(a), then Supplier shall pay to Wheaton, in cash, the amount, if any, determined pursuant to the following formula (the “Value Adjustment”): where: Oz2E = aggregate ounces of palladium and platinum contained in concentrate produced by the Stillwater Mill from Minerals mined, produced, extracted or otherwise recovered or derived from the Blitz Properties during the Completion Period, measured in ounces (subject to a maximum of 300,000 ounces); and OzAu = aggregate ounces of gold that is equivalent to the number of ounces of palladium and platinum contained in Oz2E multiplied by 0.0153 (or such other ratio as may be agreed between the Parties, using actual mining data derived from the date of this Agreement to May 1, 2022), measured in ounces (subject to a maximum of 5,000 ounces); provided that, notwithstanding the foregoing, if both (i) Oz2E exceeds 270,000 ounces, and (ii) OzAu exceeds 4,500 ounces, then Completion will be deemed to have been achieved and no Value Adjustment will be payable. For purposes of the foregoing formula, production from the Stillwater Mill will be measured over the nineteen (19) month period from June 1, 2022 through December 31, 2023, and the period of six (6) consecutive calendar months in which palladium and platinum contained in concentrate produced by the Stillwater Mill from Minerals mined, produced, extracted or otherwise recovered or derived from the Blitz Properties was the highest during such nineteen (19) month period, annualized as if such level of production were maintained over twelve (12) months, will be deemed to constitute the “Completion Period”. Supplier shall deliver or cause to be delivered to Wheaton a certificate signed by a director or senior officer of the Project Owner certifying: (i) the six month period constituting the Completion Period; (ii) the production of palladium and platinum contained in concentrate produced by the Stillwater Mill from Minerals mined, produced, extracted or otherwise recovered or derived from the Blitz Properties during each month of such six month period; (ii) the Value Adjustment calculation; and (iii) copies or extracts from the Books and Records supporting such production and calculation. (b) The Value Adjustment shall be paid by Supplier as follows: (i) if either Completion Target No. 2 has not been achieved on or prior to [***], ...