Increase Effective Date Transactions definition
Increase Effective Date Transactions means, collectively, (a) the termination by the Borrower of certain Required Hedge Agreements (as defined in this Agreement immediately prior to the Increase Effective Date) corresponding to the scheduled delivery dates occurring on each of (i) March 31, 2027, with respect to 10,000 ounces of gold and (ii) June 30, 2027, with respect to 5,000 ounces of gold, in each case, on or about the Increase Effective Date, (b) the payment by the Borrower of termination payments and any other amounts due and payable to the Hedge Providers under such Permitted Hedge Agreements, (c) the entry by the Borrower into put option Hedge Agreements on or about the Increase Effective Date corresponding to the scheduled delivery dates occurring on each of (i) March 31, 2027, with respect to 5, 250 ounces of gold and (ii) June 30, 2027, with respect to 9,750 ounces of gold and (d) the purchase by the Borrower of the foregoing put options.”. AMERICAS/2023902354.2 3 Contango Ore – Consent No. 7 and Amendment No. 13