Common use of Future Production Clause in Contracts

Future Production. Both parties agree to discuss in good faith a commercial take off agreement for the delivery of polymetallic concentrates (Cu/Au, Pb/Ag and Zn) to begin to be shipped in June 2011, once the production is stabilized and the seller declared the commercial production for each concentrate, copper, zinc and lead. The discussion should be done during june 2011 by both parties in order to establish a mutual agreement in good faith for the terms and conditions for the next period. International Market Terms from the main mining and smelter companies in the world will be taken into consideration to determine the terms and conditions of the take off agreement. The previous one will be subject to a satisfactory agreement to both parties.

Future Production. Both parties agree to discuss in good faith a possible commercial take off agreement for the delivery of polymetallic concentrates (Cu/Au, Pb/Ag and Zn) to begin to be shipped in June May 2011, once the production is stabilized and the seller declared the commercial production for each concentrate, copper, zinc and lead. The discussion should be done during june 2011 in the last quarter of 2010 by both parties in order to establish a mutual agreement in good faith for the terms and conditions for the next period. International Market Terms from the main mining and smelter companies in the world will be taken into consideration to determine the terms and conditions of the take off agreement. The previous one will be subject to a satisfactory agreement to both parties.