Consignment definition
Examples of Consignment in a sentence
If the entire amount of a required purchase price payment and/or consignment fee payment under the Consignment Facility is not paid in full within ten (10) Business Days after the same is due, the Customers shall pay to the Metal Consignor, to the extent permitted by applicable law, by bank wire to a bank of the Metal Consignor’s choice, a late fee on the unpaid amount equal to (x) such amount, multiplied by (y) the Prime Rate plus 2%.
Nothing herein shall be construed or operate as a waiver of any right, power or privilege on the part of Metal Consignor under the Consignment Agreement.
In the event that the Customer Agent does not notify the Metal Consignor of its election hereunder with respect to any Consignment, such Consignment shall be automatically converted to a Floating Rate Consignment at the end of the applicable Fixed Rate Period.
Except as amended hereby, the Consignment Agreement shall remain in full force and effect and is in all respects hereby ratified and affirmed.
Each request by the Customer Agent on behalf of a Customer to the Metal Consignor for the delivery of Metal under the Consignment Facility and the Segregated Storage Facility, and for a Metal Hedging Transaction, shall be deemed to be a representation and warranty to the Metal Consignor that the respective conditions specified in Section 6.2 for such Consignment and/or Metal Hedging Transaction has been satisfied.