Metal Trading and Transf er Accounting Sample Clauses

Metal Trading and Transf er Accounting. Umicore may maintain a separate Metal Account f or each Metal, and all obligations and undertakings with respect to Metal will be computed and perf ormed separately f or each Metal. Umicore may , f rom time to time, credit or debit quantities of Metal to a Metal Account to ref lect any transaction agreed upon by the parties, including, without limitation, the: (i) acceptance or release of Metal deliv ered f rom, to, or on behalf of Customer; (ii) purchase or sale of Metal f rom or to Umicore; (iii) settlement of Ref ining Serv ices with Customer; or (iv ) transfer of Metal f rom or to another Metal Account. Umicore may , in its sole discretion, reject any Metal deliv ered by or f or Customer. Metal Accounts are not depository or warehousing agreements, and Umicore does not undertake to maintain, identif y, or allocate phy sical inv entories f or or to any Metal Account. Customer acknowledges that Metal is f ungible, and Umicore may deal with Metal in any manner Umicore sees f it, including the commingling, consignment, lease, or disposition thereof subject to the undertakings prov ided herein. Umicore may rev erse any mistaken credits in a Metal Account by debit entry without liability to Customer. Customer’s Metal Account may ref lect a negativ e balance only with Umicore’s consent, and f or any such Metal Account Umicore shall, in its sole discretion, be entitled to declare the negative balance due, set a reasonable period f or repay ment, and/or close the Metal Account at Customer’s cost.