Refined Gold Sample Clauses
The 'Refined Gold' clause defines the standards and specifications that gold must meet to be considered refined under the agreement. Typically, this clause outlines the required purity level, such as a minimum percentage of gold content, and may specify acceptable forms (e.g., bars or ingots) and recognized assay methods or certifications. By clearly establishing what qualifies as refined gold, the clause ensures both parties have a mutual understanding of the product being delivered, thereby reducing the risk of disputes over quality or acceptability.
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Refined Gold. If MSX causes refined gold to be produced from Minerals mined from the Properties, the Royalty shall be paid on the refined gold, as herein provided. For purposes of determining the Royalty, the refined gold shall be deemed to have been sold at the Monthly Average Gold Price, and the Gross Proceeds shall be determined by multiplying Gold Production during the calendar month by the Monthly Average Gold Price for that month. As used herein, "Gold Production" shall mean the quantity of refined gold out-turned during the calendar month to MSX's pool account by an independent third-party refinery from Minerals produced from the Properties, on either a provisional or final settlement basis. As used herein, "Monthly Average Gold Price" shall mean the average London Bullion Market Association P.M. Gold Fix, calculated by dividing the sum of all such prices reported for the month by the number of days for which such prices were reported.
Refined Gold. The percentage of Net Returns to be paid to Glamis for refined gold produced from Minerals mined from the Properties shall be based as follows:
Refined Gold. The percentage of Net Returns to be paid to Glamis for refined gold produced from Minerals mined from the Properties shall be based as follows: <TABLE> <CAPTION> Monthly AverageGold Price Per Ounce Percentage of Net Returns ------------------- ------------------------- <S> <C> Less than $325.00 0.0% $325.00 -$349.99 0.5% $350.00 -$374.99 1.0% $375.00 -$399.99 1.5% $400.00 or above 2.0% </TABLE> (b)
Refined Gold bars or coins that is refined to a minimum 995 parts per 1,000 fine gold.