Mine Output definition
Examples of Mine Output in a sentence
The parties acknowledge that this Agreement and the MGSA are related agreements and that Purchaser will lose part of the benefit of the overall bargain if Supplier is not obligated to sell 100% of its Mine Output to Purchaser and, therefore, the increase in refining fees is agreed to be liquidated damages and not a penalty.
For the first consecutive twelve month period commencing on the Effective Date, the following shall apply to Precious Metals originating from the Mine Output: Rhodium will be purchased at the [***]; provided that on any given trading day, absent agreement otherwise, Purchaser's purchases will be capped at[***] oz.
For each twelve month period thereafter, the parties covenant to negotiate in good faith the pricing terms or mechanisms pursuant to which Purchaser shall purchase Supplier's Mine Output.
During the Term (as that term is defined in Section 2.1), Supplier agrees to supply to Purchaser, and Purchaser agrees to purchase from Supplier, subject to the exceptions listed in Section 1.7 below and under the terms of this Agreement, one hundred percent (100%) of the refined platinum, palladium and MASTER GOODS AND SERVICES AGREEMENT - 25 rhodium precious metals (individually and collectively, “Precious Metals”) originating from the Mine Output.
However, Supplier will have the option to be released from its obligation to sell 100% of its Mine Output to Purchaser for such year; provided that, for any such year or years in which the parties do not agree on pricing or pricing mechanisms, this Agreement shall not terminate and the refining charges under the MGSA shall be increased by [***] per ▇▇▇▇ oz of recovered Precious MASTER GOODS AND SERVICES AGREEMENT - 26 Metals for the affected year(s).
However, Supplier will have the option to be released from its obligation to sell 100% of its Mine Output to Purchaser for such year; provided that, for any such year or years in which the parties do not agree on pricing or pricing mechanisms, this Agreement shall not terminate and the refining charges under the MGSA shall be increased by [***] per ▇▇▇▇ oz of recovered Precious Metals for the affected year(s).
During the Term (as that term is defined in Section 2.1), Supplier agrees to supply to Purchaser, and Purchaser agrees to purchase from Supplier, subject to the exceptions listed in Section 1.7 below and under the terms of this Agreement, one hundred percent (100%) of the refined platinum, palladium and rhodium precious metals (individually and collectively, “Precious Metals”) originating from the Mine Output.
Any consent (including any Financing Approval, Project Approval or Environmental Approval) material to the Acquisition Transaction or the operation or maintenance of any Mine or any Mining Right material to the extraction or processing of Mine Output shall be denied, withdrawn, cancelled or materially altered by the Governmental Body granting such consent.