Metal Account definition

Metal Account means any unallocated Metal pool or weight account.
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Metal Account means, in respect of Precious Metals, an unallocated metal account in London with a member of the LBMA or LPPM, as appropriate; for purposes of any settlement of a Buy-Back or Redemption by Physical Metal Delivery, a metal account with a Physical Delivery Bank; and, in respect of Base Metals, an LME clearing and warrant account in London with a member of the LME.
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Metal Account means an unallocated Metal pool or weight account maintained by Umicore for the benefit of Customer.
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Examples of Metal Account in a sentence

  • Customer’s instructions regarding the Metal Account become binding only upon Umicore’s: (i) express consent in writing; or (ii) execution of the requested transaction.

  • Metal Accounts are not depository or warehousing agreements, and Umicore does not undertake to maintain, identify, or allocate physical inventories for or to any Metal Account.

  • Customer may request that a quantity of Metal, not exceeding the then-current credit balance, be transferred to the Metal Account of a third party or transferred for release to Customer at a location other than Umicore’s facility.

  • Customer shall not assign, pledge, or encumber any Metal Account or interest therein or statement thereof.

  • Umicore may reverse any mistaken credits in a Metal Account by debit entry without liability to Customer.

  • If the closed Metal Account shows a negative balance, then Umicore will invoice Customer for the value of such negative balance pertaining to a Metal Account.

  • If Umicore closes a Metal Account because of an Event of Default, then title to any Metals in such Metal Account will transfer to Umicore upon closure and compensation for the Metals will be paid by Umicore to Customer after setoff and deducting the value of any debit balances on such Metal Account.

  • In the absence of an Event of Default (defined below), Umicore may close a Customer’s Metal Account at any time by providing Customer with at least four (4) weeks’ prior written notice.

  • Umicore may, from time to time, credit or debit quantities of Metal to a Metal Account to reflect any transaction agreed upon by the parties, including, without limitation, the: (i) acceptance or release of Metal delivered from, to, or on behalf of Customer; (ii) purchase or sale of Metal from or to Umicore; (iii) settlement of Refining Services with Customer; or (iv) transfer of Metal from or to another Metal Account.

  • Customer’s Metal Account may reflect a negative balance only with Umicore’s consent, and for any such Metal Account Umicore shall, in its sole discretion, be entitled to declare the negative balance due, set a reasonable period for repayment, and/or close the Metal Account at Customer’s sole cost and expense.


More Definitions of Metal Account

Metal Account means an account or accounts maintained with us for the purpose of recording transactions effected under this Section X.
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Related to Metal Account

  • Capital Account means, with respect to any Member, the Capital Account maintained for such Member in accordance with the following provisions:

  • Capital Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Capital Accounts An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Share Account means the brokerage account established by the Agent for each Participant to which shares of Common Stock purchased under the Plan are credited in accordance with Section 9. The Share Account will be established pursuant to a separate agreement between each Participant and the Agent.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Economic Capital Account Balances has the meaning set forth in Section 5.01(g) hereof.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(c)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), and any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.