SMC Account Clause Samples
SMC Account. In order to establish proper accounting for the Returnable Metals due to SMC under this Agreement, JM has established a precious metal account in the name of SMC (the “SMC MASTER GOODS AND SERVICES AGREEMENT - 10 Account”), which will reflect the accurate amounts of each element of Returnable Metal so held by JM, subject to the further orders of SMC. Returnable Metals within the SMC Account shall be held by JM in New Jersey. JM shall store, safeguard and insure all precious metals accounted for in the SMC Account, at no charge to SMC. SMC may require physical delivery of Returnable Metals held in the SMC Account, or it may draw upon the SMC Account to transfer to other third party accounts upon written direction to JM.
SMC Account. In order to establish proper accounting for the Returnable Metals due to SMC under this Agreement, Heraeus has established a precious metal account in the name of SMC (the “SMC Account”), which will reflect the accurate amounts of each element of Returnable Metal so held by Heraeus, subject to the further orders of SMC. Heraeus shall store, safeguard and insure all precious metals accounted for in the SMC Account, at no charge to SMC. SMC may require physical delivery of Returnable Metals held in the SMC Account with Heraeus, or it may draw upon the SMC Account to transfer to other third party accounts at the Facility upon written direction to Heraeus.
SMC Account. In order to establish proper accounting for the Returnable Metals due to SMC under this Agreement, Union Miniere shall establish an account in the name of SMC which will reflect the accurate amounts of each element of Returnable Metal so held by Union Miniere, subject to the further orders of SMC. Union Miniere shall store, safeguard and insure all precious metals accounted for in said account, at no charge to SMC. SMC may require physical delivery of Returnable Metals held in the SMC account, or it may draw upon its account to transfer to other third party accounts held by Union Miniere upon written direction to Union Miniere in accordance with Section 14 hereof.
SMC Account. In order to establish proper accounting for the Returnable Metals due to SMC under this Agreement, JM has established a precious metal account in the name of SMC which will reflect the accurate amounts of each element of Returnable Metal so held by JM, subject to the further orders of SMC. Returnable Metals within the SMC Account shall be held by JM in Pennsylvania. JM shall store, safeguard and insure all precious metals accounted for in said account, at no charge to SMC. SMC may require physical delivery of Returnable Metals held in the SMC Account, or it may draw upon its account to transfer to other third party accounts upon written direction to JM. Any shipments requiring physical delivery shall be F.O.B. JM storage facility in Pennsylvania. [***]