Common use of Lease Fee Clause in Contracts

Lease Fee. 4.1 The Lease Fee for any Lease Metal, or the relevant portion of Lease Metal, will be payable monthly in arrears on the tenth day following the end of each Lease Month of the Lease and on the Termination Date (each, a “Payment Date”). In the event that a Payment Date does not fall on a Business Day, the Lease Fee for that Lease Month shall be payable on the first Business Day preceding that Payment Date. 4.2 In the event that the period between the Commencement Date and the first Payment Date and/or the period between the penultimate Payment Date and the Termination Date is not a Lease Month, the Lease Fee shall be apportioned accordingly. 4.3 The Lessee shall pay to the Lessor on the Payment Date a monthly fee (“Lease Fee”) for the Lease calculated (on the basis of a 360-day year and actual days per month) by multiplying: (i) the Quantity of leased Metal (determined on the basis of the Pure Metal equivalent) subject to the Lease, by (ii) the Lease Rate by (iii) the Value of the leased Metal Where:

Lease Fee. 4.1 The Lease Fee for any Lease Metal, or the relevant portion of Lease Metal, Metal will be payable monthly in arrears on each Payment Date, where a Payment Date means the tenth (10th) day of the next following the end calendar month in respect of each Lease Month of the calendar month during a Lease and on the Termination Date (each, a “Payment Date”)of that Lease. In the event that a Payment Date does not fall on a Business Day, the Lease Fee for that Lease Month Payment Date shall be payable on the first Business Day preceding that such Payment Date. 4.2 In the event that the period between the Commencement Date and the first Payment Date and/or the period between the penultimate Payment Date and the Termination Date is not a Lease Monthfull calendar month, the Lease Fee shall be apportioned accordingly. 4.3 The Lessee shall pay to the Lessor on the each Payment Date a monthly fee (“Lease Fee”) for each Metal Amount that is the subject of a Lease calculated (on the basis of a 360-day year and actual days per month) by multiplying: : (iMetal Amount) the Quantity of leased Metal X (determined on the basis of the Pure Metal equivalent) subject to the Lease, by (ii) the Lease Rate by (iii) the Value of the leased Metal) X (Lease Rate Index + Margin) X (actual days/ 360) Where: the “Value” means the Benchmark Value for the relevant Metal Where:on the day that is two Business Days prior to the Commencement Date of the relevant Lease;