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, dore purchase, offtake or similar agreements (each a “Processing Agreement”) and the PSA Entities party thereto shall be responsible for delivering all gold to such processor or purchaser, 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 Purchasers with a copy of any such agreements no later than five Business Days prior to the execution thereof. (c) 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 6.2 shall prohibit the processing of Produced Gold by a PSA Entity, provided that the doré is eventually sold to a processor. (d) The only processor with whom a PSA Entity has entered into a Processing Agreement in respect of the Produced Gold is Rand Refinery (Pty) Limited.