Affecting Precious Metals Clause Samples
The 'Affecting Precious Metals' clause defines how contractual obligations or rights are impacted by events or changes specifically related to precious metals, such as gold, silver, platinum, or palladium. This clause typically outlines what constitutes an event affecting precious metals, such as market disruptions, regulatory changes, or supply shortages, and specifies the procedures or remedies available if such an event occurs. Its core function is to allocate risk and provide clarity on how the contract should proceed or be adjusted in the face of unforeseen circumstances that significantly impact the precious metals market.
Affecting Precious Metals. The amount of Royalty to be paid on all Precious Metals subject to hedging transactions by Operator shall be determined in the same manner as provided in Section 4.1, with the understanding that the average monthly spot price shall be for the calendar month during which Precious Metals subject to hedging transactions are delivered to or credited to the account or benefit of Operator, whichever first occurs, by the Payor.
Affecting Precious Metals. The amount of Production Royalty payments on all Precious Metals subject to hedging transactions by Grantor shall be determined in the same manner as provided in Sections 2 and 3(a), with the understanding that the average monthly spot price shall be for the calendar month preceding the Delivery Month for such Precious Metals.
Affecting Precious Metals. The amount of Royalty to be paid on all Precious Metals subject to Hedging Transactions by GRANTOR shall be determined in the same manner as provided in section 1.2, with the understanding and agreement that the average monthly spot price shall be for the calendar month preceding the calendar month during which Precious Metals subject to Hedging Transactions are shipped by GRANTOR to the Payor.
Affecting Precious Metals. The amount of Production Royalty to be paid on all Precious Metals subject to hedging transactions by SEABRIDGE shall be determined in the same manner as provided in section 9(a), with the understanding and agreement that the average monthly spot price shall be for the calendar month preceding the calendar month during which Precious Metals subject to hedging transactions are shipped by SEABRIDGE to the Payor.
Affecting Precious Metals. The amount of Royalty to be paid on all Precious Metals subject to Hedging Transactions by LESSEE shall be determined in the same manner as provided in Subsection 1.2, with the understanding and agreement that the average monthly spot price shall be for the calendar month preceding the calendar month during which Precious Metals subject to Hedging Transactions are shipped by LESSEE to the Payor.