Common use of Credit to AEM of Other Refined Clause in Contracts

Credit to AEM of Other Refined. Product Not Sold within Sixty (60) Days. If Raw Product or Intermediate Product is sold to a smelter, refinery or other third party purchaser (other than AEM or a Related Party of AEM) under any smelting or refining arrangement or any other transactions that result in the return to, or credit to the account of AEM or any Related Party of Other Refined Product and AEM does not sell such returned or credited Other Refined Product to an arm’s length third party within sixty (60) days of such credit or return, then notwithstanding anything in this Royalty Agreement to the contrary such Other Refined Product shall be deemed to be sold by AEM at the Average COMEX Price for the calendar quarter in which the Other Refined Product was returned or credited to the account of AEM or its Related Party and Receipts in respect of such Other Refined Product shall be determined by multiplying respective production for such calendar quarter by the Average COMEX Price for such calendar quarter and shall be deemed received by AEM.

Credit to AEM of Other Refined. Product Not Sold within Sixty (60) Days. If Raw Product or Intermediate Product is sold to a smelter, refinery or other third party purchaser (other than AEM or a Related Party of AEM) under any smelting or refining arrangement or any other transactions that result in the return to, or credit to the account of AEM or any Related Party of Other Refined Product and AEM does not sell such returned or credited Other Refined Product to an arm’s length third party within sixty (60) days of such credit or return, then notwithstanding anything in this Royalty Agreement to the contrary such Other Refined Product shall be deemed to be sold by AEM at the Average COMEX Price for the calendar quarter in which the Other Refined Product was returned or credited to the account of AEM or its Related Party and Receipts in respect of such Other Refined Product shall be determined by multiplying respective production for such calendar quarter by the Average COMEX Price for such calendar quarter and shall be deemed received by AEM.