Common use of Maintenance of Consignment Limits Clause in Contracts

Maintenance of Consignment Limits. (a) If the Consignment Facility Indebtedness at any time exceeds the Consignment Limit, the Customers will promptly, without further notice or demand by the Metal Lender: (i) make payment to the Metal Lender, as provided in Section 2.3(g) hereof, for Consigned Precious Metal having an aggregate value sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, (ii) deliver to the Metal Lender, either physically at the Metal Lender’s vault in New York, New York or to the Metal Lender’s pool accounts, loco London or through a recognized third party, Precious Metal free and clear of all Liens (other than Liens in favor of the Metal Lender) having an aggregate value (as determined in accordance with Section 2.2 hereof) sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that the remaining Consignment Facility Indebtedness does not exceed the Consignment Limit. (b) Any physical return of Precious Metal to the Metal Lender’s vault in New York, New York, shall be at the Customers’ expense and risk and shall only be credited to the Customers’ account upon the Metal Lender’s assaying the value thereof, which assay shall be undertaken by the Metal Lender as soon as practicable following physical receipt of such Precious Metal. (c) Each Customer hereby authorizes the Metal Lender to charge such Customer’s account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.9.

Maintenance of Consignment Limits. (a) If the Consignment Facility Indebtedness at any time exceeds the Consignment Limit, the Customers will promptly, without further notice or demand by the Metal Lender: (i) make payment to the Metal Lender, as provided in Section 2.3(g2.03(g) hereof, for Consigned Precious Metal having an aggregate value sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, (ii) deliver to the Metal Lender, either physically at the Metal Lender’s vault in New York, New York or to the Metal Lender’s pool accounts, loco London or through a recognized third party, Precious Metal free and clear of all Liens (other than Liens in favor of the Metal Lender) having an aggregate value (as determined in accordance with Section 2.2 2.02 hereof) sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that the remaining Consignment Facility Indebtedness does not exceed the Consignment Limit. (b) Any physical return of Precious Metal to the Metal Lender’s vault in New York, New York, shall be at the Customers’ expense and risk and shall only be credited to the Customers’ account upon the Metal Lender’s assaying the value thereof, which assay shall be undertaken by the Metal Lender as soon as practicable following physical receipt of such Precious Metal. (c) Each Customer hereby authorizes the Metal Lender to charge such Customer’s account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.92.09.

Maintenance of Consignment Limits. (a) If the Consignment Facility Indebtedness at any time exceeds the Consignment Limit, the Customers will promptly, without further notice or demand by the Metal LenderSupplier: (i) make payment to the Metal LenderSupplier, as provided in Section 2.3(g2.03(g) hereof, for Consigned Precious Metal having an aggregate value sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, (ii) deliver to the Metal LenderSupplier, either physically at the Metal LenderSupplier’s vault in New YorkProvidence, New York Rhode Island or to the Metal LenderSupplier’s pool accounts, loco London or through a recognized third party, Precious Metal free and clear of all Liens (other than Liens in favor of the Metal LenderSupplier) having an aggregate value (as determined in accordance with Section 2.2 2.02 hereof) sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that the remaining Consignment Facility Indebtedness does not exceed the Consignment Limit. (b) Any physical return of Precious Metal to the Metal LenderSupplier’s vault in New York, New York, Providence shall be at the Customers’ expense and risk and shall only be credited to the Customers’ account upon the Metal LenderSupplier’s assaying the value thereof, which assay shall be undertaken by the Metal Lender Supplier as soon as practicable following physical receipt of such Precious Metal. (c) Each Customer hereby authorizes the Metal Lender Supplier to charge such Customer’s account Account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.92.09. Bank of America shall be entitled to rely upon this authorization.

Maintenance of Consignment Limits. (a) If the Consignment Facility Indebtedness or the Copper Consignment Facility Indebtedness at any time exceeds the Consignment Limit or the Copper Consignment Limit, as applicable, the Customers will promptly, and in any event within five (5) Business Days of the date of the occurrence of such excess, without further notice or demand by the Metal Lender: : (i) make payment to the Metal Lender, as provided in Section 2.3(g) hereof, for Consigned Precious Metal or Copper, as applicable, having an aggregate value sufficient to result in the remaining Consignment Facility Indebtedness or Copper Consignment Facility Indebtedness being not more than the Consignment Limit or Copper Consignment Limit, , as applicable, (ii) deliver to the Metal Lender, either physically at the Metal Lender’s vault in New York, New York or to the Metal Lender’s pool accounts, loco London London, or through in a recognized third partyform otherwise agreed by the Metal Lender, Precious Metal free and clear of all Liens (other than Liens in favor of the Metal Lender) having an aggregate value (as determined in accordance with Section 2.2 hereof) sufficient to result in the remaining Consignment Facility Indebtedness or Copper Consignment Facility Indebtedness being not more than the Consignment Limit or Copper Consignment Limit, or as applicable, or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that the remaining Consignment Facility Indebtedness does not exceed the Consignment Limit and the remaining Copper Consignment Facility Indebtedness does not exceed the Copper Consignment Limit. (b) Any physical return of Precious Metal to the Metal Lender’s vault Lender shall be at a location as determined by the Metal Lender in New York, New Yorkits sole discretion, shall be at the Customers’ expense and risk risk, and shall only be credited to the Customers’ account upon the Metal Lender’s assaying the value thereof, which assay shall be undertaken by the Metal Lender as soon as practicable following physical receipt of such Precious Metal. (c) All deliveries and returns of Metal made by the Customers to the Metal Lender under this Agreement will be free of all Liens, derived in all cases from sources on the LBMA Good Delivery List or as otherwise mutually agreed, and made in accordance with the directions of the Metal Lender or, in the absence of such directions, in a commercially acceptable manner to the Metal Lender. The Customer shall bear the cost of such delivery and shall bear the risk of loss of or damage to such Consignment until delivery is made by it to the Metal Lender. -19- (d) Each Customer hereby authorizes the Metal Lender to charge such Customer’s account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.9.. Section

Maintenance of Consignment Limits. (a) If the Consignment Facility Indebtedness at any time exceeds the Consignment Limit, the Customers will promptly, without further notice or demand by the Metal Lender: (i) make payment to the Metal Lender, as provided in Section 2.3(g2.03(g) hereof, for Consigned Precious Metal having an aggregate value sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, (ii) deliver to the Metal Lender, either physically at the Metal Lender’s vault in New York, New York or to the Metal Lender’s pool accounts, loco London or through a recognized third party, Precious Metal free and clear of all Liens (other than Liens in favor of the Metal Lender) having an aggregate value (as determined in accordance with Section 2.2 2.02 hereof) sufficient to result in the remaining Consignment Facility Indebtedness being not more than the Consignment Limit, or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that the remaining Consignment Facility Indebtedness does not exceed the Consignment Limit. (b) Any physical return of Precious Metal to the Metal Lender’s vault in New York, New York, shall be at the Customers’ expense and risk and shall only be credited to the Customers’ account upon the Metal Lender’s assaying the value thereof, which assay shall be undertaken by the Metal Lender as soon as practicable following physical receipt of such Precious Metal. (c) Each Customer hereby authorizes the Metal Lender to charge such Customer’s account Account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.92.09.

Maintenance of Consignment Limits. (a) If the Consignment Facility Gold Indebtedness at any time exceeds the Gold Consignment Limit or if the Copper Indebtedness at any time exceeds the Copper Consignment Limit, then the Customers will promptly, without further notice or demand by the either Metal Lender: (i) make payment to the applicable Metal Lender, as provided in Section 2.3(g) hereof, for Consigned Precious Metal having an aggregate value sufficient to result in (A) the remaining Consignment Facility Gold Indebtedness being not more than the Gold Consignment Limit or (B) the remaining Copper Indebtedness being not more than the Copper Consignment Limit,, as applicable; (ii) deliver to the applicable Metal Lender, either physically at (only in such form as agreed to by the Metal Lender’s vault in New York, New York ) to a mutually-agreed upon location or to the Metal Lender’s pool accounts, loco London or through a recognized third party, Precious Metal Gold or Copper, as applicable, free and clear of all Liens (other than Liens in favor of the a Metal Lender) having an aggregate value (as determined in accordance with Section 2.2 hereof) sufficient to result in (A) the remaining Consignment Facility Gold Indebtedness being not more than the Gold Consignment Limit or (B) the remaining Copper Indebtedness being not more than the Copper Consignment Limit, as applicable; or (iii) engage in any combination of the actions in clauses (i) and (ii) above such that (A) the remaining Consignment Facility Gold Indebtedness does not exceed the Gold Consignment Limit or (B) the remaining Copper Indebtedness does not exceed the Copper Consignment Limit, as applicable. (b) Any physical return delivery of Precious Metal by a Customer to the Metal Lender’s vault in New York, New York, a mutually-agreed upon location shall be at the Customers’ expense and risk and shall only be credited to the Customers’ account upon the applicable Metal Lender’s assaying the value thereof, which assay shall be undertaken by the Metal Lender as soon as practicable following physical receipt of such Precious Metal. (c) Each Customer hereby authorizes the applicable Metal Lender to charge such Customer’s account at any time and from time to time for the purpose of paying any amounts which are at any time payable by the Customer under this Section 2.9.