Inventory Draw Amount definition
Inventory Draw Amount means US$5,000,000, less the aggregate of any amounts advanced as a pre-payment on gold and/or silver in process pledged to the Lender (as set out in the relevant transaction confirmations) and outstanding at the relevant date."
Examples of Inventory Draw Amount in a sentence
The Lender will only be obliged to comply with clause 5.4 (Lender's obligation) if on the date of the Utilization Request and on the proposed Utilization Date with respect to the Inventory Draw Amount satisfactory (in the opinion of the Lender, acting reasonably) Hedging Agreements shall have been entered into with respect to metal inventory for the first and second quarter of 2018.