Precious Metals Sample Clauses
The 'Precious Metals' clause defines the terms and conditions related to the handling, ownership, and responsibilities concerning precious metals within a contract. Typically, this clause specifies what qualifies as a precious metal (such as gold, silver, or platinum), outlines procedures for delivery, storage, and valuation, and may address issues like insurance or loss. Its core function is to ensure both parties have a clear understanding of their rights and obligations regarding precious metals, thereby reducing the risk of disputes and providing clarity in transactions involving these valuable materials.
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Precious Metals. The Fund shall, with respect to precious metal deposits, instruct the Custodian to enter into a written agreement to direct the Delegate to hold such precious metals on an allocated or on an unallocated basis in accordance with the terms of this Delegation Agreement. Accordingly, the Custodian shall enter into a written agreement to direct the Delegate to be responsible for exercising reasonable care in the administration of such accounts, and to the extent that the Fund has appointed the Custodian to direct the Delegate to act as foreign custody manager pursuant to the provisions of Rule 17f-5, the Custodian shall direct the Delegate to comply with its responsibilities thereunder. Allocated Precious Metal(s) shall mean any and all gold, silver, platinum or palladium and any other metals maintained in any account with an Eligible Foreign Custodian or its agents in the name of the Custodian or its Delegate for the Fund. Unallocated Precious Metal(s) shall mean any and all gold, silver, platinum or palladium and any other metals maintained in any account with an Eligible Foreign Custodian or its agents in the name of the Custodian or the Delegate for its customers generally.
Precious Metals. A Fund may, upon Special Instructions, direct the Custodian to appoint, or instruct the Domestic Subcustodian to appoint, a depository for the safekeeping and storage of gold, silver, platinum and other precious metals (“Precious Metals”) on behalf of such Fund.
Precious Metals. Should the price of precious metals or rare earth materials increase from the cost in effect at the time of establishment of product pricing, ALLEGRO reserves the right to invoke price adjustments to compensate for such increases.
Precious Metals. First London Market fixing price (LBMA) or London Platinum and Palladium Market (LPPM) for the described Precious Metal, to be chosen at the sole discretion of GoldSilver Central Private Limited.
Precious Metals. The Payor shall pay the Royalty for each shipment of Precious Metals either (a) in the form of gold bullion (.995+ fine gold) directly to Franco's account maintained with the Payor as directed by Franco, or (b) by delivery of a cheque or draft payable to Franco's account with a bank to be designated in writing by Franco. In the event Franco instructs the Payor to deliver the Royalty in the form of gold bullion, the Royalty payable on silver or platinum group metals shall be converted to the gold equivalent of such silver or platinum group metals by using the average monthly spot prices for Precious Metals described in Section 4.1.
Precious Metals. With respect to precious metals produced from the Project, each Party shall be entitled to take its proportionate share of the production in-kind, such share being based on each Party’s Participating Interest at the time such precious metals are produced. Each Party shall take delivery of its share at the refinery where the final product is produced. Thereafter, each Party shall be free to market its respective share of such precious metals at its sole discretion.
Precious Metals. With respect to Products containing precious metals, unless otherwise specifically agreed to in writing, the following sales conditions shall also apply: (a) all metal accounts established or maintained by Seller shall be subject to Seller's Metal Account Terms and Conditions, the current form of which appears on each metal account statement; (b) payment for precious metals shall be cash in advance; (c)the precious metal contained in such Products shall be priced in accordance with the Engelhard Fabricated Products Price next published by Seller following the date the metal is shipped or credited to ▇▇▇▇▇’s metal account; (d) Seller shall have the right at any time without notice to set off any liability (whether to
Precious Metals. For orders for products containing precious metals, the precious metals shall be supplied by the Company to UOP and the additional terms and conditions set out in UOP’s proposal in relation to such precious metals shall apply in addition to these terms and conditions.
Precious Metals. The Owner shall pay to the Payee, a Royalty equal to the following percentages of Net Smelter Returns (as defined in subsection 9 (b) hereof) from the sale or other disposition of gold mined or otherwise recovered from the Property:
(i) 1.5% when the price of gold is US$325 per ounce or above. The royalty rate will increase by 1 basis point for every US$1.00 increase in the gold price above US$325 per ounce to a maximum of 2.0% at a gold price of US$375 per ounce or greater;
(ii) Once Cdn$500,000 has been received in royalty payments under Section 9(a)(i) above the royalty rate will reduce to a flat 1% rate and will only be in effect at a gold price of US$350 per ounce or higher; The price of gold is the price used in determining the Royalty payment in subsection 9 (d) as herein amended. The Owner shall further pay to the Payee a Royalty equal to 2% of the Net Smelter Returns from the sale or other disposition of silver mined or otherwise recovered from the Property, on the silver production from the Property in excess of one million ounces per calendar year. The Owner shall further pay to the Payee a Royalty equal to 2% of the Net Smelter Returns from the sale or other disposition of copper mined or otherwise recovered from the Property, on the copper production from the Property in excess of five million pounds per calendar year.
Precious Metals. Any wafers or coins made from precious metals or similar objects made from precious metals, including gold and silver coins and wafers;