Black Mass definition

Black Mass means a powder-like substance which contains a number of valuable metals, including nickel, cobalt and lithium.

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Black Mass means the powder substance, which contains a variety of metals, including cobalt, nickel, copper, lithium, manganese, aluminum and graphite, that is produced from a mechanical process that involves crushing, sorting and sieving.

Black Mass means the primary input of the Hubs, comprising cathode active materials, graphite, lithium and any other cathode or anode materials recovered from battery or battery-related input scrap feeds.

Examples of Black Mass in a sentence

• As between Li-Cycle and Glencore, for the purposes of the Black Mass Offtake Agreement, Glencore agrees that North America Seller shall pay Glencore (or its applicable affiliate) a marketing fee equal to [XXX] for such Black Mass, and such fee shall be deemed to be the “Black Mass Marketing Fee” for the purposes of such sales only.

• Within [XXX] following the end of each month during the Term, North America Seller shall prepare and submit a report to Traxys (the “Black Mass Monthly Report”), setting forth the Black Mass sold to Glencore or other applicable Buyer during such month (if any) and setting forth the calculation of the marketing fees payable to Traxys on such Black Mass sales (including any adjustments to determine the Customer Final Price in accordance with Section 3(b)(i) above).

• The Parties specifically acknowledge and agree that (as set out in Section 1 of the Traxys Black Mass Agreement) all decisions concerning Spoke operations and the timing and quantity of Black Mass available for sale shall be made by the North America Seller, in its sole and absolute discretion.

• As between Li-Cycle and Glencore, such Black Mass shall be considered “Glencore Committed Black Mass” under the terms of the Black Mass Offtake Agreement, and Li-Cycle and Glencore shall enter into separate “Black Mass Sale Agreements” with respect to such Black Mass under the terms of the Black Mass Offtake Agreement.

• In the event of any shortfall for any reason in the volume of Black Mass available for sale or delivery by North America Seller, such shortfall shall be allocated between Traxys and Glencore on a 50-50 basis.

• Traxys, through its third party auditors, may (no more than once a year) audit, confirm and validate the details of the Black Mass Monthly Report (and may inspect any records pertaining thereto), and Li-Cycle and Glencore shall cooperate therewith, subject to the execution of a customary confidentiality agreement with each of Li-Cycle and Glencore.

• The Parties acknowledge that Li-Cycle and Traxys have entered into a letter agreement dated February 23, 2024, pursuant to which Traxys has provided a limited one-time waiver to permit North America Seller to sell certain inventory directly to third-party customers, subject to Traxys being paid its customary marketing fee of [XXX] (in accordance with the terms of the Traxys Black Mass Agreement).

• As of the Execution Date, Traxys and Li-Cycle have no other pending commitments for the sale of Black Mass.

• Specifically, North America Seller may determine that some or all of its Black Mass production may be required for internal purposes (including inventory build, commissioning and start-up of commercial production at the Rochester Hub), thus reducing the quantity of Black Mass available for sale to third parties.

• The Black Mass Monthly Report shall also set forth any reconciliations to preliminary and final payments that affect the marketing fees payable to Traxys, upon which adjustments to such marketing fee payable to Traxys shall be made.

More Definitions of Black Mass

Black Mass means a powder-like substance which contains a number of valuable metals, including nickel, cobalt and lithium. “Black Mass & Equivalents” or “BM&E” means black mass and products analogous to black mass that have a similar metal content. “Business Combination” means the transactions contemplated by the Business Combination Agreement.

Black Mass means unrefined “black mass” product, containing (among other things) lithium, cobalt and nickel material.

Black Mass means a mixture of cathodic and anodic materials liberated through (thermo-) mechanical treatment of any input fraction.

Black Mass means the material formed from dismantled and shredded lithium-ion batteries processed at a battery recycling or similar facility that is capable to be used as feedstock for the Facility in accordance with the design specifications set forth in Table 1 of Schedule 1.01A (Performance Testing and Reliability Testing) including cathode active materials, graphite, lithium and any other cathode or anode materials recovered from battery or battery-related input scrap feeds.

Black Mass means the amalgamation of lithium-ion battery cell electrode metals (including but not limited to cobalt, nickel, manganese, lithium, graphite) along with trace amounts of electrolyte material and scrap metals from other components within the battery, the resulting product being derived from the Borrower’s proprietary strategic de-manufacturing process, in which lithium-ion batteries are broken down into, and separated out at, the elemental level, which product is (x) sold to refiners who are interested in the raw materials therein, and requires further processing to retrieve them and is used in the Borrower’s proprietary hydrometallurgical chemical refining process to produce cathode sulfates and lithium hydroxide, and (y) the filter cake output of the Borrower’s strategic de-manufacturing process; provided, that Black Mass shall not include black-mass derived from LFP battery chemistries (lithium iron phosphate).