Segregated Storage Facility definition

Segregated Storage Facility shall have the meaning given to such term in Section 4.01 hereof.

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Segregated Storage Facility has the meaning given to such term in Section B1 of Exhibit B hereto.

Examples of Segregated Storage Facility in a sentence

Any person identifying himself or herself as an Authorized Representative of a Customer and who is identified on such current list of the Customer shall have the right to effect transactions under the Consignment Facility, the Gold Loan Facility, the Forward Contract Facility, the Segregated Storage Facility and this Agreement.
In addition, the Customers, on the one hand, or the Metal Lender, on the other hand, may at any time on thirty (30) days prior written notice to the other terminate any particular Segregated Storage Facility.
Upon termination of the Segregated Storage Facility, WAM shall return at WAM’s sole expense and risk to the Metal Lender in accordance with the Metal Lender’s reasonable written instruction all Stored Precious Metal then outstanding and subject to the terms of this Section 4.
Termination of any particular Segregated Storage Facility shall not affect any Customer’s duty to perform its obligations to the Metal Lender under this Section 4.
Except as hereinafter provided, title to the Stored Precious Metal will at all times remain solely in the Metal Lender, and WAM: (a) will not acquire any interest in the Stored Precious Metal except as hereinafter permitted; (b) except as permitted elsewhere in this Section 4, will not remove the Stored Precious Metal from the Segregated Storage Facility; and (c) will not create or incur, any Lien whatsoever on any of the Stored Precious Metal, other than any Lien claimed by or granted by the Metal Lender.
All Precious Metal currently located in the Segregated Storage Facility pursuant to the Original Agreement shall constitute Stored Precious Metal for the purposes of this Agreement.
The Customers will at all times provide to the Metal Lender access to each Segregated Storage Facility and to its related premises and related books and records during regular business hours, with or without notice, in order to permit the Metal Lender to verify the Customers’ compliance with the terms of this Section 4.
Upon termination of a Segregated Storage Facility, the Customers shall return at their sole expense and risk to the Metal Lender in accordance with the Metal Lender’s reasonable written instruction all Stored Precious Metal therein.
Each request by a Customer or the Customer Agent to the Metal Lender for the delivery of Precious Metal under the Consignment Facility, Gold Loan Facility and the Segregated Storage Facility, and for a Forward Contract under the Forward Contract Facility, shall be deemed to be a representation and warranty to the Metal Lender that the respective conditions specified in Section 6.02 for such Consignment and/or Forward Contract have been satisfied.
In addition, either WAM or the Metal Lender may at any time on thirty (30) days prior written notice to the other terminate the Segregated Storage Facility.

More Definitions of Segregated Storage Facility

Segregated Storage Facility means a safekeeping vault at an Approved Storage Facility Location in which one or more Customers will hold Stored Metal which shall be clearly marked as belonging to the Metal Consignor and shall be segregated from all other material and metal. “Senior Credit Agent” means JPMorgan Chase, N.A., as administrative agent. “Senior Credit Agreement” means that certain FourthFifth Amended and Restated Credit Agreement, dated as of October 27June 26, 20212025, among Materion Corporation, Materion Netherlands B.V., the otherBEM, the Foreign Subsidiary Borrowers from time to time party thereto, the Lenders from time to time party hereto, JPMorgan Chase Bank, N.A., asthereto, the Senior Credit Agent, as Administrative Agent, ▇▇▇▇▇ Fargo Bank, National Association and Bank of America, N.A., as Co-Syndication Agents, and KeyBankKeybank National Association and PNC Bank, National

Segregated Storage Facility means a safekeeping vault at an Approved Storage Facility Location in which one or more Customers will hold Stored Precious Metal which shall be clearly marked as belonging to the Metal Lender and shall be segregated from all other material and metal. “Senior Credit Agent” means JPMorgan Chase, N.A., as administrative agent. “Senior Credit Agreement” means that certain Second Amended and Restated Credit Agreement, dated as of June 20, 2013, among BEM, Materion Advanced Materials Technologies and Services Netherlands B.V., the other foreign Subsidiary borrowers party thereto from time to time, certain lenders party thereto from time to time, and the Senior Credit Agent, as may be amended, restated or supplemented, or refinanced or otherwise replaced from time to time. “Silver” means, except as provided in, and for the purposes, of Section 2.1(b) hereof, silver having a minimum degree of fineness of ninety-nine and 90/100 percent (99.90%), in bars of approximately one thousand (1,000) ▇▇▇▇ ounces each, in form available to the Metal Lender, or in such other degree of fineness or form as the parties may agree upon from time to time. “Stored Precious Metal” shall have the meaning set forth in Section 4.1 hereof. “Stored Precious Metal Limit” means the lesser of (a) $125,000,000, and (b) the amount of insurance coverage obtained and in effect from time to time with respect to Stored Precious Metal pursuant to Section 4.7 hereof. “Subordinated Indebtedness” means Indebtedness of the Customer which is subordinated in writing to all Obligations of the Customer to the Metal Lender on terms satisfactory to the Metal Lender. “Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more Subsidiaries of the parent or by th...