Gold Agent definition
Examples of Gold Agent in a sentence
A statement of the Gold Agent submitted to such Gold Bank with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Gold Agent by such Gold Bank.
The delivery by the Borrower to the Gold Agent's Head Office, at the Borrower's sole risk and expense, of Precious Metal in bullion form of a type and quality which is acceptable to the Gold Agent.
The Confirmation of Swap Agreement dated or to be dated on or prior to the Closing Date, between the Borrower and the Gold Agent and in form and substance satisfactory to each of the Banks, the Agents and the Borrower, pursuant to which the Borrower and the Gold Agent have made certain arrangements in order to fix the price of Consigned Precious Metal following an Event of Default.
Precious Metal (a) located at Borrower Permitted Inventory Locations or at Specified Refiners, (b) Delivered to the Borrower or subject to a Purchase and Consignment and, in each case, consigned by the Gold Agent (on behalf of the Gold Banks) to the Borrower pursuant to the terms of this Credit Agreement and (c) for which the Gold Banks have not received payment or which has not been Redelivered to the Gold Agent.
If, on any date of determination, the number of ▇▇▇▇ ounces of Consigned Precious Metal shall exceed the Consignment Ounce Cap, the Borrower shall either (i) repurchase from the Gold Agent such excess at the Fair Market Value thereof on the Business Day following the date of determination, or (ii) Redeliver to the Gold Agent Consigned Precious Metal in quantities (measured in ▇▇▇▇ ounces) equal to such excess.
The Borrower shall give the Gold Agent prior written notice, no later than one-half hour prior to the Second London Fixing for Gold on any Business Day, of any proposed repurchase of Consigned Precious Metal specifying the amount of Consigned Precious Metal to be so repurchased and the proposed date of repurchase, which notice shall be irrevocable and binding on the Borrower and shall obligate the Borrower to repurchase such Consigned Precious Metal on the proposed date of repurchase.
Thereafter, title to such Precious Metal shall remain in the Gold Agent and shall not vest in the Borrower until the Gold Agent has received payment for such Consigned Precious Metal in accordance with the requirements of ss.5.4 or ss.5.6, as applicable.
With respect to the Dollar Facility, the Revolving Credit Loans, the Letters of Credit, the Term Loan or the Dollar Banks, the Dollar Agent; with respect to the Gold Facility, the Consignments, the Gold Loans or the Gold Banks, the Gold Agent.
Upon any such resignation, the Majority Banks shall have the right to appoint a successor Dollar Agent or, as the case may be, Gold Agent.
Prior to the occurrence of an Event of Default and absent other instruction by the Borrower, the Gold Agent shall apply Dollar amounts received to reduction of Consigned Precious Metal, for application first to Consignment Base Rate Amounts and then to Consignment Fixed Rate Amounts.