Common use of Assaying Adjustments Clause in Contracts

Assaying Adjustments. 4.3.1 Buyer has the right to appoint a neutral sampler (the “Sampler”), approved by General Moly (which approval will not be unreasonably withheld or delayed), to take samples of the Products at the applicable delivery point. In the event that Buyer determines that General Moly has delivered non-conforming Product which should result in an adjustment to the Product Price (an “Assay Adjustment”), Buyer will notify General Moly in writing of such determination (along with its results of analysis of such Product) within 20 days of receipt of such shipment. The Parties will appoint a mutually agreeable third party to assist in the resolution of such matter (the “Referee”) within 30 days of delivery of such notice. If the Parties fail to so appoint the Referee within such 30-day period, SGS Group (or such other mutually agreeable third party, in the event that SGS Group or its successor ceases to exist) will appoint the Referee at any Party’s request. The Referee will analyze the sample of such Product taken by the Sampler, whose determination will be final and binding upon the Parties. 4.3.2 The costs and expenses related to the procedures set forth in this Section 4.3 (including the costs of the Sampler) will be borne by the Party whose results are furthest from the results of the Sampler. In the event that the results of the Sampler are exactly between those of General Moly and the Buyer, each of General Moly and the Buyer will bear 50% of any such costs and expenses. For the purpose of the foregoing, the “results” of General Moly will refer to the assay results set forth on the related invoice. 4.3.3 In the event that the final determination results in an obligation on a Party to pay additional amounts or to reimburse any sum, such payment or reimbursement will be settled by credit or debit notes.

Assaying Adjustments. 4.3.1 Buyer has the right to appoint a neutral sampler (the “Sampler”), approved by General Moly Seller (which approval will not be unreasonably withheld or delayed), to take samples of the Products at the applicable delivery pointDelivery Point. In the event that Buyer determines that General Moly Seller has delivered non-conforming Product which should result in an adjustment to the Product Price (an “Assay Adjustment”), Buyer will notify General Moly Seller in writing of such determination (along with its results of analysis of such Product) within 20 60 days of receipt delivery of such shipmentProduct. The Parties Buyer and Seller will appoint a mutually agreeable third party to assist in the resolution of such matter (the “Referee”) within 30 days of delivery of such notice. If the Parties Buyer and Seller fail to so appoint the Referee within such 30-day period, SGS Group (or such other mutually agreeable third party, in the event that SGS Group or its successor ceases to exist) will appoint the Referee at any Partyeither Buyer’s or Seller’s request. The Referee will analyze the sample of such Product taken by the SamplerSampler and the closest to the Referee’s results of either the assay set forth in the notice delivered by Buyer pursuant to this Section 4.3.1, whose determination or the assay set forth in the relevant certificate supplied by Seller pursuant to Section 2.7 will be final and binding upon Buyer and Seller, in the Partiesevent of a tie the Referee results will govern. 4.3.2 The costs and expenses related to the procedures set forth in this Section 4.3 (including the costs of the Sampler) will be borne by the Party party whose results are furthest from the results of the Sampler. In the event that the results of the Sampler are exactly between those of General Moly Seller and the Buyer, each of General Moly Seller and the Buyer will bear 50% of any such costs and expenses. For the purpose of the foregoing, the “results” of General Moly Seller will refer to the assay results set forth on the related invoice. 4.3.3 In the event that the final determination results in an obligation on a Party party to pay additional amounts or to reimburse any sum, such payment or reimbursement will be settled promptly by credit or debit notesnotes and the invoice following the final determination shall be adjusted accordingly.

Assaying Adjustments. 4.3.1 Buyer has the right to appoint a neutral sampler (the “Sampler”), approved by General Moly Seller (which approval will not be unreasonably withheld or delayed), to take samples of the Products at the applicable delivery pointDelivery Point. In the event that Buyer determines that General Moly Seller has delivered non-conforming Product which should result in an adjustment to the Product Price (an “Assay Adjustment”), Buyer will notify General Moly Seller in writing of such determination (along with its results of analysis of such Product) within 20 60 days of receipt delivery of such shipmentProduct. The Parties Buyer and Seller will appoint a mutually agreeable third party to assist in the resolution of such matter (the “Referee”) within 30 days of delivery of such notice. If the Parties Buyer and Seller fail to so appoint the Referee within such 30-day period, SGS Group (or such other mutually agreeable third party, in the event that SGS Group or its successor ceases to exist) will appoint the Referee at any Partyeither Buyer’s or Seller’s request. The Referee will analyze the sample of such Product taken by the SamplerSampler and the closest to the Referee’s results of either the assay set forth in the notice delivered by Buyer pursuant to this Section 4.3.1, whose determination or the assay set forth in the relevant certificate supplied by Seller pursuant to Section 2.6 will be final and binding upon Buyer and Seller, in the Partiesevent of a tie the Referee results will govern. 4.3.2 The costs and expenses related to the procedures set forth in this Section 4.3 (including the costs of the Sampler) will be borne by the Party party whose results are furthest from the results of the Sampler. In the event that the results of the Sampler are exactly between those of General Moly Seller and the Buyer, each of General Moly Seller and the Buyer will bear 50% of any such costs and expenses. For the purpose of the foregoing, the “results” of General Moly Seller will refer to the assay results set forth on the related invoice. 4.3.3 In the event that the final determination results in an obligation on a Party party to pay additional amounts or to reimburse any sum, such payment or reimbursement will be settled promptly by credit or debit notesnotes and the invoice following the final determination shall be adjusted accordingly.