Offtake Sample Clauses
An Offtake clause defines the terms under which one party agrees to purchase and take delivery of goods, products, or resources from another party, typically over a specified period. This clause outlines the quantity, quality, delivery schedule, and pricing mechanisms for the goods to be supplied, and may include provisions for minimum purchase obligations or penalties for non-compliance. Its core practical function is to provide certainty and security for both the supplier and the buyer by formalizing the commitment to buy and sell, thereby facilitating project financing and long-term planning.
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Offtake. (a) Grantor shall ensure that, when Products that contain any marketable metal are to be Sold or otherwise disposed of, all such Products are sold by Grantor to a Processor pursuant to an Offtake Agreement.
(b) Grantor shall ensure that all Offtake Agreements entered into by Grantor (or any other Bunker Hill Entity) shall be on commercially reasonable arm’s length terms and conditions for concentrates similar in make-up and quality to those derived from the Products, and shall include (i) industry standard reporting and payment settlement protocols, (ii) provisions that require the delivery of metals return statements, provisional and final settlement sheets and invoices and certificates for final shipped moisture content and analyses and assays evidencing the amount of Products, and (iii) provisions that require appropriate and separate sampling, assaying, weighing and moisture determination procedures so that Grantor and the applicable Processor can determine the grade or content of silver, lead, zinc and other metals in each delivery to a Processor.
(c) Grantor shall give Holder at least ten (10) Business Days prior written notice of the terms of any proposed amendment to any Offtake Agreement with any Related Party (or any new offtake agreement with a Related Party). If H▇▇▇▇▇, acting reasonably, believes that the proposed amended terms (or the proposed new agreement) do not comply with Section 4.3(b), Holder may, by written notice to Grantor within five (5) Business Days of receipt of notice the proposed amendment (or new offtake agreement), request that Grantor refer the proposed amended terms (or the proposed new agreement) to Exen Consulting Services (or such other independent offtake consultant agreed by Grantor and Holder) (the “Consultant”) to render an opinion on whether such terms comply with Section 4.3(b) within 14 days of such referral. If the Consultant determines that the proposed amendments (or the new offtake agreement) complies with Section 4.3(b), or, despite the commercially reasonable efforts of the Grantor, the Consultant fails to render an opinion within the timeline referred to above, the Grantor shall be entitled to proceed to execute the proposed amendments (or the new offtake agreement). If Grantor and H▇▇▇▇▇ do not accept the opinion as a final determination of whether Section 4.3(b) has been complied with then either one of them may refer the dispute for resolution pursuant to Article 11. For the purposes of (c), “Related Pa...
Offtake. The Connected Party shall be entitled to receive a maximum amount of electricity from the Offshore Transmission System equal to the Contracted Transmission Capacity via the Connection.
Offtake. The Members and the Company acknowledge and agree that each Foundation Member (and if applicable its parent) is entitled to purchase from the Company, and other Enterprise Companies, alumina and bauxite on the basis and subject to the limitations set out in subsection (a) of “SECTION 5: SCOPE” of the Charter.
Offtake. The Borrower has not entered into any agreement for the disposal of any Petroleum produced from any Borrowing Base Asset except to PGNiG.
Offtake. Save as otherwise agreed with the Agent acting on behalf of the Majority Lenders, the Borrower shall not dispose of any Petroleum produced from any Borrowing Base Asset except to PGNiG.
Offtake. If the expected Commercial Operations Date is within twelve (12) months of the date of such Advance, offtake arrangements in form and substance acceptable to DOE, demonstrating that 70% of the expected production of the Project upon Project Completion is under contract.
Offtake. Receipt by DOE of Phase 2 offtake agreements covering at least 50% of the Phase 2 production capacity as described by the Base Case Financial Model reasonably acceptable to DOE and, in the case of any such offtake agreement that is a Major Project Document, such agreement shall be in form and substance either (a) substantially similar (or better) to the existing offtake agreements of the Borrower that are Major Project Documents or (b) otherwise reasonably acceptable to DOE.
Offtake. Except with respect to transportation and storage of products from one Plant to a subsequent Plant, Company shall be responsible for making its own arrangements for the acceptance of offtake from the Plants and transportation of all the resulting Product, Second-Stage Product and co-products.
Offtake. The Principal Shareholders and the Company acknowledge and agree that each Principal Shareholder is entitled to purchase from the Company, and other Enterprise Companies alumina and bauxite on the basis and subject to the limitations set out in subsection (a) of “SECTION 5: SCOPE” of the Charter.
Offtake. An event of default (however designated) shall occur under the Offtake Agreement, after giving effect to any cure periods, extensions and waivers in respect thereof.