Offtake Agreement. (See Attached) Certain identified information has been omitted from this exhibit because it is both not material and is the type that the registrant treats as private or confidential. [Redacted] indicates that information has been omitted. Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K and the Instructions as to Exhibits of Form 20-F. EXECUTION VERSION LITHIUM OFFTAKE AGREEMENT by and between LITHIUM AMERICAS CORP. and GENERAL MOTORS HOLDINGS LLC February 16, 2023 LITHIUM OFFTAKE AGREEMENT This Lithium Offtake Agreement (this "Agreement") is dated February 16, 2023 (the "Execution Date") and is between General Motors Holdings LLC (on behalf of itself and its affiliates and subsidiaries, collectively, "GM") and Lithium Americas Corp. ("Supplier"). GM and Supplier are sometimes referred to in this Agreement individually as a "Party" or collectively as the "Parties".
Offtake Agreement if requested by the Agent, use its commercially reasonable best efforts to procure consent from Teck Cominco with respect to the assignment of the Offtake Agreement to the Finance Parties.
Offtake Agreement. Agreements such as offtake agreements become of vital importance where a project is dependent on guaranteed offtake for its products3 because offtake agreements represent the source of revenue for the project. An Offtake agreement is a legal contract between two parties regarding specific amounts of goods to be delivered from one party to the other. It is usually used by energy producers like coal mines, power plants4 and also for extracting oil and gas. However, it has been used in some cases of toll transportation facilities, for example the Channel Tunnel.5 An offtake agreement may be made with a purchaser for the purchase of any output produced by the project, in order to divert market risk away from the project company and the lenders.6 In this agreement, the offtake purchaser has to pay for an amount of project service or procure a certain amount of project output over a given time. It therefore provides a secure supply of the required product for offtaker, and the ability to sell its products and secures the project payment stream for the project company. Types of Offtake Agreements: There are various forms, which offtake agreements can take:
Offtake Agreement. The Offtake Agreement provides that Grizal may, in its absolute discretion, purchase from MTL, in any calendar year, not more than 600,000 MT +/- 10% of Ghanaian Manganese Ore (the “Product”) for a period of ten (10) years from completion of the Transaction, subject to the terms and conditions of the Offtake Agreement. The provisional price for the Product is based upon market rates, subject to a discount depending on price achieved and deductions based on quality of the delivered Product. Xx Xxxxxxxxx Xxx, the President of TMI said, “We are excited to invest in Consolidated Minerals and look forward to partnering with the existing management team in developing the company’s operations for the benefit of all stakeholders”. Xx Xxxxxxxx Xxxxxxxxxx, the ultimate beneficial owner of the Company added, “I am delighted that TMI wish to invest in ConsMin. TMI, as ConsMin’s largest customer, has extensive experience in this industry and I believe that ConsMin will be well-positioned to achieve its next phase of growth and development under the ownership of TMI after the Transaction.” Xxxxxxx is a leading manganese ore producer with mining assets in Australia and Ghana. The principal activities of the Company and its subsidiaries (the “Group”) are the exploration, mining, processing and sale of manganese products. The Group’s operations are primarily conducted through four major operating/trading subsidiaries: Consolidated Minerals Pty Limited (Australia), Ghana Manganese Company Limited (Ghana), Manganese Trading Limited (Jersey) and Pilbara Trading Limited (Jersey). Consolidated Minerals Limited is headquartered in Jersey and the address of its office is Commercial House, 0 Xxxxxxxxxx Xxxxxx, Xx Xxxxxx, Xxxxxx, Xxxxxxx Xxxxxxx, XX0 0XX. For further information, please contact: Citadel-MAGNUS Xxxxx Xxxxxxx, +00 000 000 000 Xxxxxx Xxxxxxxx Xxxxxx-Xxxxx Boury, +00 000 000 0000 Important Notice These materials may contain forward-looking statements regarding future events or the future financial performance of Consolidated Minerals Limited (the “Company”). You can identify forward looking statements by terms such as “expect”, “believe”, “estimate”, “anticipate”, “intend”, “will”, “could”, “may”, or “might”, the negative of such terms or other similar expressions. These forward- looking statements include matters that are not historical facts and statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’...
Offtake Agreement. The Offtake Agreement is for the supply and delivery of in total 100,000 metric tonnes of natural rutile concentrate (20,000 tonnes per annum) in the 5-year contract period. The consideration shall be based on the market price for 95% natural rutile concentrate, adjusted for actual TiO₂ content. The offtake under the Offtake Agreement will start on the date of the first delivery of rutile to Iwatani. The Offtake Agreement has a duration of 5 years, possibility for renewals for 3- year periods unless terminated by either party. The agreement is inter alia subject to certain conditions precedent that must be satisfied by 31 March 2023. Xxxxxxxx Platou Securities AS and SpareBank 1 Markets AS act as Financial Advisors to the Company in relation to the Engebø Project Financing. For further information, please contact CEO Xxxx Xxxxxx, telephone +00 000 00 000 or CFO Xxxxxxxxx Xxxxxx, telephone + 00 000 00 000. Oslo, 2 June 2022 Nordic Mining ASA This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Offtake Agreement. [Redacted – confidential information]
Offtake Agreement. Farmtiva will enter into an offtake agreement with Isodiol on commercially reasonable terms for the supply of all industrial hemp and products derived therefrom that are produced by Farmtiva.
Offtake Agreement. Notwithstanding the provisions of Articles 6.1 and 6.2, the Parties shall, when required by market conditions or those parties financing the Project, have the right to enter into long term offtake agreements with one or more established buyers of NGL Products and GTL Products on such terms and conditions are prevailing at the time such offtake agreements are negotiated and executed.
Offtake Agreement. The Administrative Agent shall have received a duly executed copy of each Offtake Agreement listed on Schedule VI hereto.
Offtake Agreement. At any time, a Credit Party is in default of its obligations under any Offtake Agreement, subject to any applicable cure periods contained therein.
