Payment Formula for the Extraction of Molybdenum Sample Clauses

Payment Formula for the Extraction of Molybdenum. ‌ The payment formula for Molybdenum Extraction Processing Rights for the tailings contained in the Colihues Deposit is the same agreed to in N° 2 of letter B. of the sixth clause of this Agreement. Until such new payment formulas enter into force, the formula will continue to apply as agreed to in the clause of the Colihues Contract, which is included as Annex N° 2 of this Agreement.
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Payment Formula for the Extraction of Molybdenum. ‌ The payment formula for Molybdenum Extraction Processing Rights is as follows: Where, · QMo: Mo Production (lb) · PMo: Mo Price (US$/lb) · r: Participation of División El ▇▇▇▇▇▇▇▇ in the gross revenues of ▇▇▇▇▇▇ ▇▇▇▇▇ Central S.A. from the sale of 100% of the production of Mo concentrate during any given period (monthly). It is measured as a [%] and defined for molybdenum prices between the range of 7.31 to 40 (US$/lb). The percentage will take into account the fourth decimal rounded from the fifth and applied as follows: If the monthly average price of molybdenum is less than 7.31 or more than 40 US$/lb., during 2 consecutive months and projections indicate its permanence over time, a joint review will be required of all the economic parameters associated with the production of molybdenum (production costs, administration expenses, refining, transport, maintenance, services, taxes, molybdenum credit, payment for the right of processing and projections of the price of molybdenum), in order to ensure the participation of DET in the gross revenues of MVC arising from the sale of 100% of the production of molybdenum concentrate, establishing that: · When the situation is such that the molybdenum price is below the lower limit (P Mo < 7,31 US$/lb), the participation of DET will be adjusted in the manner that permits MVC to remain in operation with an agreed upon margin. · When the situation is such that the molybdenum price is above the higher limit (P Mo > 40 US$/lb), DET will seek the largest percentage possible, assuring that MVC continues in operation with an agreed upon margin. In reaching agreement on the foregoing, the Parties will give priority to the viability of this Agreement, always maintaining the equilibrium of the benefits between the Parties. For this purpose, the Parties set as a maximum for agreement on the new formula a period of 90 calendar days. If the Parties are unable to reach an agreement with respect to the adjustment of the Payment Formula within the stipulated time frame, this matter will be resolved by an expert or panel of three experts, as agreed by the Parties. The expert or experts must be chosen among professionals who are part of companies linked with the subject matter of this Agreement and who are prepared to participate. In the event the Parties cannot agree on the naming of these experts, the choice will be made by the President of the College of Engineers of Chile. The Parties accept that the decision of the experts wi...
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