Prepaid Metals Transactions definition
Prepaid Metals Transactions means any transaction for the sale and purchase of precious metals entered into between a Restricted Party and any Person, pursuant to which such Person makes an upfront payment to such Restricted Party as consideration for the delivery by the Borrower of a fixed quantity of precious metals.
Prepaid Metals Transactions means derivative transactions for the sale and purchase of gold entered into between the Company, as seller, and one or more Qualified Risk Management Lender(s), as purchaser(s), pursuant to which such Qualified Risk Management Lender(s) makes upfront pre-payments of up to $360,000,000, in aggregate, in cash to the Company as consideration for the delivery by the Company of such gold within 36 months of pre-payment of the cash consideration.
Prepaid Metals Transactions means derivative transactions for the sale and purchase of up to 110,000 ounces of gold entered into on or prior to June 30, 2023 between Equinox and/or Leagold, as seller(s), and one or more Qualified Risk Management Lender(s), as purchaser(s), pursuant to which such Qualified Risk Management Lender(s) makes upfront pre-payments of up to $150,000,000, in aggregate, in cash to Equinox and/or Leagold as consideration for the delivery by Equinox and/or Leagold of such 110,000 ounces of gold within 42 months of pre-payment of the cash consideration.
Examples of Prepaid Metals Transactions in a sentence
No Restricted Party shall enter into, assume or suffer to exist a Prepaid Metals Transaction if, after taking into account such proposed Prepaid Metals Transaction, the aggregate outstanding principal amount under all Prepaid Metals Transactions at such time could exceed US$115,000,000.
For the avoidance of doubt, a Restricted Forward Sale Transaction and any metals prepayment transaction (other than the Sandbox Gold Purchase Agreement and the Prepaid Metals Transactions) shall not constitute a commodity sale transaction in the ordinary course of business for the purposes hereof.
More Definitions of Prepaid Metals Transactions
Prepaid Metals Transactions means any transaction involving the sale and purchase of precious metals, other minerals or commodities entered into between the Borrower or any Restricted Subsidiary and any Person other than the Borrower or any Restricted Subsidiary, pursuant to which such Person makes an upfront pre-payment to the Borrower or any Restricted Subsidiary as consideration for the delivery by the Borrower or any Restricted Subsidiary of a fixed quantity of precious metals, other minerals or commodities (as applicable). For the avoidance of doubt, (i) Prepaid Metals Transactions shall not constitute Deferred Revenue Financing Arrangements and (ii) any Prepaid Metals Transaction documented via an ISDA shall not constitute a Swap Contract hereunder.
Prepaid Metals Transactions means transactions for the sale and purchase of a prescribed amount of copper concentrate pursuant to an agreement to be entered into between MCSA, as seller, and one or more Qualified Risk Management Lender(s), as purchaser(s), pursuant to which such Qualified Risk Management Lender(s) makes upfront pre-payments of up to $[Redacted – commercially sensitive], in aggregate, in cash to MCSA as consideration for the delivery by MCSA of such prescribed amount of copper concentrate within a prescribed time period after the pre- payment of the cash consideration.
Prepaid Metals Transactions means derivative transactions for the sale and purchase of gold entered into on or prior to the Closing Date between the Borrower, as seller, and one or more Qualified Risk Management Lender(s), as purchaser(s), pursuant to which such Qualified Risk Management Lender(s) makes upfront pre-payments of up to $360,000,000, in aggregate, in cash to the Borrower as consideration for the delivery by the Borrower of such gold within 36 months of pre-payment of the cash consideration.