Consigned Precious Metal. Precious Metal (a) located at Borrower Permitted Inventory Locations or at Specified Refiners, (b) Delivered to the Borrower or subject to a Purchase and Consignment and, in each case, consigned by the Gold Agent (on behalf of the Gold Banks) to the Borrower pursuant to the terms of this Credit Agreement and (c) for which the Gold Banks have not received payment or which has not been Redelivered to the Gold Agent.
Consigned Precious Metal. Not grant any security interest or ownership rights to any customer with respect to any of the Consigned Precious Metal whether or not such customers have prepaid orders for the Consigned Precious Metal or any products or property which does or will include the Consigned Precious Metal.
Consigned Precious Metal. Not grant any security interest or ownership rights to any customer or creditor (including any credit institutions) of the Company with respect to any of the Consigned Precious Metal or any of the Other Consignors’ Precious Metal while at the Company's Premises or at other Approved Locations regardless of whether or not such customers have prepaid orders for the Consigned Precious Metal or the Other Consignors’ Precious Metal or any products or property which does or will include the Consigned Precious Metal or the Other Consignors’ Precious Metal and regardless of whether such creditors (including credit institutions) have prior or ongoing security arrangements with the Company, in which case the Company shall ensure that neither the Consigned Precious Metals nor any of the Other Consignors Precious Metal shall be subject to such prior security arrangements.
Consigned Precious Metal. (a) Subject to the terms and conditions herein set forth and provided that no Event of Default shall have occurred and is then continuing, on any Business Day during the period from the date hereof until the termination of this Agreement, the Companies may from time to time request consignments of Precious Metal under the Consignment Facility and HSBC may in, its sole discretion, consign Precious Metal to the Companies on such terms as provided hereunder or as otherwise may be agreed in writing by HSBC and the Companies provided, however, at no time shall:
Consigned Precious Metal. Upon the occurrence and during the continuance of any Event of Default and at any time thereafter, HSBC may, in its discretion, (a) enter into one or more hedging or similar agreements designed to limit or eliminate the risk and exposure to fluctuations in the price of Consigned Precious Metal, or (b) monetize the Consigned Precious Metal exposure at such time as HSBC reasonably determines to be appropriate. The Companies shall be liable to, and reimburse, HSBC for all costs incurred by HSBC in connection with such hedging arrangements, including, without limitation, breakage costs incurred in connection with the early termination of such hedging arrangements.
Consigned Precious Metal. Not grant any security interest or ownership rights to any customer or creditor (including any credit institutions) of the Company with respect to any of the Consigned Precious Metal or any of the Other Consignors’ Precious Metal regardless of whether or not such customers have prepaid orders for the Consigned Precious Metal or the Other Consignors’ Precious Metal or any products or property which does or will include the Consigned Precious Metal or the Other Consignors’ Precious Metal and regardless of whether such creditors (including credit institutions) have prior or ongoing security arrangements with the Company, in which case the Company shall ensure that neither the Consigned Precious Metals nor any of the Other Consignors Precious Metal shall be subject to such prior security arrangements.
Consigned Precious Metal. Upon the occurrence and during the continuance of any Event of Default and at any time thereafter, the Consignor may, in its discretion, (a) enter into one or more hedging or similar agreements designed to limit or eliminate the risk and exposure to fluctuations in the price of Consigned Precious Metal, or (b) monetize the Consigned Precious Metal exposure at such time as the Consignor reasonably determines to be appropriate.
