Reference Gold Price definition
Reference Gold Price means, when used to calculate the amount of any dividend payable on any quarterly dividend payment date, the arithmetic average of the London P.M. gold fixing price for an ounce of gold in the London bullion market on each of the five trading days ending on the second trading day prior to the last day of the calendar quarter immediately preceding such payment date. When used to calculate any other amount payable with respect to the Depositary Shares or to purchase any Depositary Shares on any date, the “Reference Gold Price” means the arithmetic average of the London
Reference Gold Price means on any determination date the price established in United States Dollars at the P.M., London time, fix through the London gold fixing procedure by which the price of Gold is determined by the five members of The London Gold Market Fixing Ltd.
Examples of Reference Gold Price in a sentence
The Company will use, as the Reference Gold Price for purposes of this Term Sheet and the Preferred Shares, including for calculation of dividend, redemption and liquidation payments, the “London Gold Fix” price on the relevant redemption or payment date.
The “Relevant Number” means (A) if the Reference Gold Price on the trading day immediately prior to the Closing Date is equal to or greater than US$1,584, 0.015625 or (B) if the Reference Gold Price on the trading day immediately prior to the Closing Date is less than US$1,584, the number (rounded to six decimal points) that is equal to the quotient obtained by dividing US$25 by the such Reference Gold Price on the trading day immediately prior to the Closing Date.