Calculation and Payment of GVR Sample Clauses

Calculation and Payment of GVR. (a) La Preciosa and the Buyer Parties will calculate the GVR payment due, if any, during each calendar quarter by multiplying 2.00% by the Gross Value Returns for that calendar quarter. ASM Parent shall, or shall cause La Preciosa to, deliver to Coeur a payment by wire transfer in immediately available funds, within 15 days after the end of the calendar quarter in which a GVR payment is due, together with a copy of the Buyer Parties’, and La Preciosa’s, accounting, sales data and the refinery and smelter outturn statements related to such payment. The first payment will be due by 15 days after the end of the first calendar quarter in which Gross Value Returns are generated. At least five days prior to the date of the first payment, Coeur will provide wiring instructions to La Preciosa and the Buyer Parties for payment. If it is subsequently determined that an overpayment or underpayment was made, subject in the case of an underpayment to the interest calculation set forth in Section 1.3(b) below, neither La Preciosa or the Buyer Parties, on the one hand, nor Coeur, on the other hand, will be required to make an additional payment or a refund, as applicable, but the overpayment or underpayment shall be corrected in the next calendar quarter following determination that an adjustment is required, or if operations on the GVR Area cease, and such overpayment or underpayment shall take place as soon as practicable and no later than 15 days following the determination that an adjustment is required. (b) Until such time as the aggregate New Reserve Discovery Contingent Payments paid to Coeur equal $50,000,000, the amount of each New Reserve Discovery Contingent Payment to Coeur with respect to New Mineral Reserves pursuant to Section 1.5 below, shall be applied to offset any GVR payment due with respect to the Gross Value Returns recognized in respect of the sale of such New Mineral Reserves (the “New Reserve Offset”). (c) Delinquent GVR payments shall bear interest at the Applicable Rate plus 2.0%, commencing on the due date, compounding and calculated quarterly until paid. For the purposes of this paragraph, the determination of the Applicable Rate shall be made as of the date on which such payment was due.
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Related to Calculation and Payment of GVR

  • Calculation and Payment Interest on LIBOR Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. Interest on the Base Rate Loans shall be calculated on the basis of a three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on the Base Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment of such Loan (or portion thereof); and (iii) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (i) the last day of each applicable Interest Period; (ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; (iii) the prepayment of such Loan (or portion thereof); and (iv) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise.

  • Calculation and Payment of Interest (a) Interest on the outstanding principal amount from time to time of each Prime Rate Loan and Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be. (b) Interest on the outstanding principal amount from time to time of each LIBOR Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (c) Accrued interest shall be paid, (i) in the case of interest on Prime Rate Loans and Base Rate Canada Loans, in arrears monthly on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

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