Common use of Processing Agreements Clause in Contracts

Processing Agreements. (a) From and after the date hereof, the Seller (together with the PSA Entities from which Produced Gold is sold) shall be a party to any Processing Agreements and the PSA Entities party thereto shall be responsible for delivering all gold to each Processor, in such quantity, description and amounts and at such times and places as required under and in accordance with each Processing Agreement. (b) The PSA Entities shall cause all terms and conditions of any Processing Agreements or other agreements for the sale of Produced Gold entered into by a PSA Entity to be on commercially reasonable arm’s length terms and conditions. The Seller shall provide the Purchaser with a final signed copy of any such agreements within five Business Days of the execution thereof. (c) Banro shall take commercially reasonable steps to enforce, and shall cause any Affiliate, to take reasonable steps to enforce its rights and remedies under each such Processing Agreement with respect to any breaches of the terms thereof relating to the timing and amount of Gold Payments to be made thereunder. Banro shall notify the Purchaser in writing when any dispute arising out of or in connection with any such Processing Agreement is commenced in respect of Refined Gold and shall provide the Purchaser with timely updates of the status of any such dispute and the final decision and award of the court or arbitration panel with respect to such dispute, as the case may be. (d) Banro shall ensure that the final sale and delivery of doré shall only be made to a Processor pursuant to a Processing Agreement. For greater certainty, nothing in this Section 7.4(d) shall prohibit the processing of Produced Gold by a PSA Entity, provided that the doré is eventually sold to a Processor.

Processing Agreements. (a) From and after the date hereof, the Seller (together with the PSA Entities from which Produced Gold is sold) shall be a party to any Processing Agreements and the PSA Entities party thereto shall be responsible for delivering all gold to each Processor, in such quantity, description and amounts and at such times and places as required under and in accordance with each Processing Agreement. (b) The PSA Entities shall cause all terms and conditions of any Processing Agreements or other agreements for the sale of Produced Gold entered into by a PSA Entity to be on commercially reasonable arm’s length terms and conditions. The Seller shall provide the Purchaser Agent with a final signed copy of any such agreements within five Business Days of the execution thereof. (c) Banro shall take commercially reasonable steps to enforce, and shall cause any Affiliate, to take reasonable steps to enforce its rights and remedies under each such Processing Agreement with respect to any breaches of the terms thereof relating to the timing and amount of Gold Payments to be made thereunder. Banro shall notify the Purchaser Purchasers in writing when any dispute arising out of or in connection with any such Processing Agreement is commenced in respect of Refined Gold and shall provide the Purchaser Agent with timely updates of the status of any such dispute and the final decision and award of the court or arbitration panel with respect to such dispute, as the case may be. (d) Banro shall ensure that the final sale and delivery of doré shall only be made to a Processor pursuant to a Processing Agreement. For greater certainty, nothing in this Section 7.4(d) shall prohibit the processing of Produced Gold by a PSA Entity, provided that the doré is eventually sold to a Processor.

Processing Agreements. (a) From and after the date hereof, the Seller Sabodala (together with the Supplier or other PSA Entities from which Produced Gold is sold) shall be a party to any the Processing Agreements and the PSA Entities party thereto shall be responsible for delivering all gold to each Processor, in such quantity, description and amounts and at such times and places as required under and in accordance with each Processing Agreement. (b) The PSA Entities shall cause all terms and conditions of any Processing Agreements or other agreements for the sale of Produced Gold entered into by a PSA Teranga Group Entity to be on commercially reasonable arm’s length terms and conditions. The Seller Supplier shall provide the Purchaser with a final signed copy of any such agreements within five Business Days of after the execution thereof. (c) Banro Teranga shall take commercially reasonable steps to enforce, and shall cause any Affiliate, to take reasonable steps to enforce its rights and remedies under each such Processing Agreement with respect to any breaches of the terms thereof relating to the timing and amount of Gold Payments to be made thereunder. Banro Teranga shall notify the Purchaser in writing when any dispute arising out of or in connection with any such Processing Agreement is commenced in respect of Refined Gold and shall provide the Purchaser with timely updates of the status of any such dispute and the final decision and award of the court or arbitration panel with respect to such dispute, as the case may be. (d) Banro Teranga shall ensure that the final sale and delivery of doré shall only be made to a Processor pursuant to a Processing AgreementProcessor. For greater certainty, nothing in this Section 7.4(d6.6(d) shall prohibit the processing of Produced Gold by a PSA Teranga Group Entity, provided that the doré is eventually sold to a Processor.