Common use of Payments by the Companies Clause in Contracts

Payments by the Companies. (a) During such time as Precious Metal is consigned to the Companies hereunder and until the same is withdrawn from consignment and paid for in full by the Companies as hereinafter provided, the Companies will pay to FPM a fee computed daily on the value of such Consigned Precious Metal as hereinafter set forth. Such fee shall be accrued on a daily basis and, in the case of Floating Rate Consignments, shall be paid monthly, not later than the fifth Business Day following the receipt of billing, and in the case of Fixed Rate Consignments, shall be paid on the last day of the Consignment Period with respect thereto. (b) The Companies may elect to pay either a Floating Consignment Fee or, provided that no Event of Default has occurred and is then continuing, a Fixed Consignment Fee with respect to each consignment of Precious Metal under the Consignment Facility, subject to the terms and conditions hereinafter set forth. (c) Each Floating Consignment Fee will be calculated for the period commencing with the Drawdown Date and shall be the rate of two and three quarters per cent (2.75%) per annum or at such other rates as FPM shall specify from time to time upon written notice in substantially the form of Exhibit C attached hereto and made a part hereof. (d) Each Fixed Consignment Fee shall be calculated for a certain specific quantity and form of Precious Metal consigned to the Companies for a certain specific Consignment Period based upon a market base rate reflective of the cost of funding such Fixed Rate Consignments by FPM. The quantity and form of Precious Metal, and the Consignment Period shall be selected by the Companies and consented to by FPM. Once the specific quantity and form of Precious Metal and the specific Consignment Period have been selected and the consignment fee determined, such selections shall be irrevocable and binding on the Companies and shall obligate the Companies to accept the consignment requested FPM in the amount, in the form and for the Consignment Period specified. (e) At such time as the Companies shall request the consignment and delivery of Precious Metal under the Consignment Facility, they shall become obligated to pay to FPM a market premium per xxxx ounce announced by FPM at the time of such consignment. Such payment is to be made within five (5) Business Days of the Companies' receipt of the monthly invoice. (f) At such time as the Companies shall purchase and withdraw Consigned Precious Metal from consignment under the Consignment Facility, they shall become obligated to (i) pay to FPM (x) a purchase price computed in accordance with Paragraph 2.2 hereof if such purchase is effected by the Companies (and the Companies have notified FPM) prior to 11:30 A.M., London Time, on any London Banking Day, plus any applicable premium, or (y) such other purchase price as shall be mutually agreed upon by FPM and the Companies, or (ii) deliver Precious Metal to FPM's pool accounts, loco London, in an amount equal to the Precious Metal purchased. All payments of purchase price for Consigned Precious Metal or deliveries of Precious Metal are to be made within two (2) London Banking Days, provided, however, title to such Consigned Precious Metal shall not pass until the payment of such purchase price. Consigned Precious Metal shall be deemed to have been purchased and withdrawn from consignment, and payment of the purchase price shall become due, at the earlier of (i) such time as the Companies shall notify FPM, they elect to purchase such Consigned Precious Metal, or (ii) such time as the Companies sell such Consigned Precious Metal in the ordinary course of their business. (g) All payments (other than payments in the form of Precious Metal) shall be made by the Companies at the office of FPM herein set forth or such other place as FPM may from time to time specify in writing in lawful currency of the United States of America in immediately available funds, without counterclaim or setoff and free and clear of, and without any deduction or withholding for, any taxes or other payments. (h) All payments shall be applied first to the payment of all fees, expenses and other amounts due to FPM (excluding purchase price for Consigned Precious Metal and consignment fees), then to accrued consignment fees and the balance on account of outstanding purchase price for Consigned Precious Metal; provided, however, that after the occurrence of an Event of Default, payments will be applied to the obligations of the Companies to FPM as FPM determines in its sole discretion. (i) If this Consignment, Forward Contracts and Trading Line Agreement or any payment hereunder becomes due on a day which is not a Business Day, the due date of this Consignment, Forward Contracts and Trading Line Agreement or payment shall be extended to the next succeeding Business Day, and such extension of time shall be included in computing interest and fees in connection with such payment.

Payments by the Companies. (a) During such time as Precious Metal is consigned to the Companies hereunder and until the same is withdrawn from consignment and paid for in full by the Companies as hereinafter provided, the Companies will pay to FPM BAPM a fee computed daily on the value of such Consigned Precious Metal as hereinafter set forth. Such fee shall be accrued on a daily basis and, in the case of Floating Rate Consignments, shall be paid monthly, not later than the fifth Business Day following the receipt of billing, and in the case of Fixed Rate Consignments, shall be paid on the last day of the Consignment Period with respect thereto. (b) The Companies may elect to pay either a Floating Consignment Fee or, provided that no Event of Default has occurred and is then continuing, a Fixed Consignment Fee with respect to each consignment of Precious Metal under the Consignment Facility, subject to the terms and conditions hereinafter set forth. (c) Each Floating Consignment Fee will be calculated for the period commencing with the Drawdown Date and shall be the rate of two three and three quarters one-quarter per cent (2.753.25%) per annum or at such other rates as FPM BAPM shall specify from time to time upon written notice in substantially the form of Exhibit C attached hereto and made a part hereof. (d) Each Fixed Consignment Fee shall be calculated for a certain specific quantity and form of Precious Metal consigned to the Companies for a certain specific Consignment Period based upon a market base rate reflective of the cost of funding such Fixed Rate Consignments by FPMBAPM. The quantity and form of Precious Metal, and the Consignment Period shall be selected by the Companies and consented to by FPMBAPM. Once the specific quantity and form of Precious Metal and the specific Consignment Period have been selected and the consignment fee determined, such selections shall be irrevocable and binding on the Companies and shall obligate the Companies to accept the consignment requested FPM BAPM in the amount, in the form and for the Consignment Period specified. (e) At such time as the Companies shall request the consignment and delivery of Precious Metal under the Consignment Facility, they shall become obligated to pay to FPM BAPM a market premium per xxxx troy ounce announced by FPM BAPM at the time of such consignment. Such payment paxxxxt is to be made within five (5) Business Days of the Companies' receipt of the monthly invoice. (f) At such time as the Companies shall purchase and withdraw Consigned Precious Metal from consignment under the Consignment Facility, they shall become obligated to (i) pay to FPM BAPM (x) a purchase price computed in accordance with Paragraph 2.2 hereof if such purchase is effected by the Companies (and the Companies have notified FPMBAPM) prior to 11:30 A.M., London Time, on any London Banking Business Day, plus any applicable premium, or (y) such other purchase price as shall be mutually agreed upon by FPM BAPM and the Companies, or (ii) deliver Precious Metal to FPMBAPM's pool accounts, loco London, in an amount equal to the Precious Metal purchased. All payments of purchase price for Consigned Precious Metal or deliveries of Precious Metal are to be made within two (2) London Banking Business Days, provided, however, title to such Consigned Precious Metal shall not pass until the payment of such purchase price. Consigned Precious Metal shall be deemed to have been purchased and withdrawn from consignment, and payment of the purchase price shall become due, at the earlier of (i) such time as the Companies shall notify FPMBAPM, they elect to purchase such Consigned Precious Metal, or (ii) such time as the Companies sell such Consigned Precious Metal in the ordinary course of their business. (g) All payments (other than payments in the form of Precious Metal) shall be made by the Companies at the office of FPM BAPM herein set forth or such other place as FPM BAPM may from time to time specify in writing in lawful currency of the United States of America in immediately available funds, without counterclaim or setoff and free and clear of, and without any deduction or withholding for, any taxes or other payments. (h) All payments shall be applied first to the payment of all fees, expenses and other amounts due to FPM BAPM (excluding purchase price for Consigned Precious Metal and consignment fees), then to accrued consignment fees and the balance on account of outstanding purchase price for Consigned Precious Metal; provided, however, that after the occurrence of an Event of Default, payments will be applied to the obligations of the Companies to FPM BAPM as FPM BAPM determines in its sole discretion. (i) If this Consignment, Forward Contracts and Trading Line Consignment Agreement or any payment hereunder becomes due on a day which is not a Business Day, the due date of this Consignment, Forward Contracts and Trading Line Consignment Agreement or payment shall be extended to the next succeeding Business Day, and such extension of time shall be included in computing interest and fees in connection with such payment.

Payments by the Companies. (a) During such time as Precious Metal is consigned All payments (including prepayments) to the Companies be made by a Company on account of principal, interest, fees and other amounts required hereunder and until the same is withdrawn from consignment and paid for in full by the Companies as hereinafter provided, the Companies will pay to FPM a fee computed daily on the value of such Consigned Precious Metal as hereinafter set forth. Such fee shall be accrued on a daily basis andmade without set-off, in the case of Floating Rate Consignmentsrecoupment or counterclaim; shall, shall except as otherwise expressly provided herein, be paid monthly, not later than the fifth Business Day following the receipt of billing, and in the case of Fixed Rate Consignments, shall be paid on the last day of the Consignment Period with respect thereto. (b) The Companies may elect made by such Company to pay either a Floating Consignment Fee or, provided that no Event of Default has occurred and is then continuing, a Fixed Consignment Fee with respect to each consignment of Precious Metal under the Consignment Facility, subject to the terms and conditions hereinafter set forth. (c) Each Floating Consignment Fee will be calculated its Applicable Agent for the period commencing with the Drawdown Date account of its Applicable Lenders (pro rata based on such Applicable Lender's Commitment Percentage) at its Applicable Agent's Payment Office, and shall be the rate of two and three quarters per cent made in immediately available funds, no later than 12:00 noon (2.75%Chicago time) per annum or at such other rates as FPM shall specify from time to time upon written notice in substantially the form of Exhibit C attached hereto and made a part hereof. (d) Each Fixed Consignment Fee shall be calculated for a certain specific quantity and form of Precious Metal consigned to the Companies for a certain specific Consignment Period based upon a market base rate reflective of the cost of funding such Fixed Rate Consignments by FPM. The quantity and form of Precious Metal, and the Consignment Period shall be selected by the Companies and consented to by FPM. Once the specific quantity and form of Precious Metal and the specific Consignment Period have been selected and the consignment fee determined, such selections shall be irrevocable and binding on the Companies and shall obligate the Companies date specified herein. All payments made by a Company to accept the consignment requested FPM in the amount, in the form and for the Consignment Period specified. (e) At its Applicable Agent will be promptly distributed by such time as the Companies shall request the consignment and delivery of Precious Metal under the Consignment Facility, they shall become obligated Applicable Agent to pay to FPM a market premium per xxxx ounce announced by FPM at the time of such consignment. Such payment is to be made within five (5) Business Days of the Companies' receipt of the monthly invoice. (f) At such time as the Companies shall purchase and withdraw Consigned Precious Metal from consignment under the Consignment Facility, they shall become obligated to (i) pay to FPM (x) a purchase price computed Company's Applicable Lenders in accordance with Paragraph 2.2 hereof if such purchase is effected by Applicable Lender's Commitment Percentage (or other applicable share as expressly provided in the Companies (and the Companies have notified FPMLoan Documents) prior to 11:30 A.M.of such principal, London Timeinterest, on any London Banking Day, plus any applicable premium, fees or (y) such other purchase price as shall be mutually agreed upon by FPM and the Companies, or (ii) deliver Precious Metal to FPM's pool accounts, loco Londonamounts, in an amount equal to the Precious Metal purchasedlike funds as received. All payments of purchase price for Consigned Precious Metal or deliveries of Precious Metal are to be made within two Any payment by a Company which is received by its Applicable Agent later than 12:00 noon (2Chicago time) London Banking Days, provided, however, title to such Consigned Precious Metal shall not pass until the payment of such purchase price. Consigned Precious Metal shall be deemed to have been purchased received on the immediately succeeding Business Day and withdrawn from consignment, and payment of the purchase price any applicable interest or fee shall become due, at the earlier of (i) such time as the Companies shall notify FPM, they elect continue to purchase such Consigned Precious Metal, or (ii) such time as the Companies sell such Consigned Precious Metal in the ordinary course of their businessaccrue. (gb) All payments (other than payments in the form of Precious Metal) shall be made by the Companies at the office of FPM herein set forth or such other place as FPM may from time to time specify in writing in lawful currency of the United States of America in immediately available funds, without counterclaim or setoff and free and clear of, and without any deduction or withholding for, any taxes or other payments. (h) All payments shall be applied first to the payment of all fees, expenses and other amounts due to FPM (excluding purchase price for Consigned Precious Metal and consignment fees), then to accrued consignment fees and the balance on account of outstanding purchase price for Consigned Precious Metal; provided, however, that after the occurrence of an Event of Default, payments will be applied to the obligations of the Companies to FPM as FPM determines in its sole discretion. (i) If this Consignment, Forward Contracts and Trading Line Agreement or Whenever any payment hereunder becomes shall be stated to be due on a day which is not other than a Business Day, the due date of this Consignment, Forward Contracts and Trading Line Agreement or such payment shall be extended to made on the next succeeding Business Day, and such (c) Unless a Company shall have delivered notice to its Applicable Agent prior to the date on which any payment is due hereunder that such extension Company will not make such payment in full as and when required hereunder, such Applicable Agent may assume that such Company has made such payment in full on such date in immediately available funds and such Applicable Agent may (but shall not be so required), in reliance upon such assumption, cause to be distributed to each Applicable Lender of time such Company on such due date an amount equal to the amount then due such Lender. If and to the extent a Company shall be included not have made such payment in computing full to its Applicable Agent, each Applicable Lender shall repay to such Agent on demand such amount distributed to such Lender by such Agent, together with interest and fees thereon for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to such Agent, at the Applicable Federal Funds Rate as in connection with effect for each such paymentday.

Payments by the Companies. (a) During such time as Consigned Precious Metal is consigned to the Companies hereunder and until the same is withdrawn from consignment and paid for in full by the Companies as hereinafter provided, the Companies will pay to FPM the Lender a fee computed daily on the value of such Consigned Precious Metal at the rate of the Lender's cost of funds plus 2.50% per annum or at such other rate as hereinafter set forth. Such the Lender shall announce from time to time in writing in substantially the form of Exhibit D attached hereto and made a part hereof, such fee shall to be accrued on a daily basis and, in and paid to the case of Floating Rate Consignments, shall be paid monthly, Lender not later than the fifth Business Day following the receipt of billing, and in the case of Fixed Rate Consignments, shall be paid on the last day of the Consignment Period with respect thereto. (b) The Companies may elect to pay either a Floating Consignment Fee or, provided that no Event of Default has occurred and is then continuing, a Fixed Consignment Fee with respect to each consignment of Precious Metal under the Consignment Facility, subject to the terms and conditions hereinafter set forth. (c) Each Floating Consignment Fee will be calculated for the period commencing with the Drawdown Date and shall be the rate of two and three quarters per cent (2.75%) per annum or at such other rates as FPM shall specify from time to time upon written notice in substantially the form of Exhibit C attached hereto and made a part hereof. (d) Each Fixed Consignment Fee shall be calculated for a certain specific quantity and form of Precious Metal consigned to the Companies for a certain specific Consignment Period based upon a market base rate reflective of the cost of funding such Fixed Rate Consignments by FPM. The quantity and form of Precious Metal, and the Consignment Period shall be selected by the Companies and consented to by FPM. Once the specific quantity and form of Precious Metal and the specific Consignment Period have been selected and the consignment fee determined, such selections shall be irrevocable and binding on the Companies and shall obligate the Companies to accept the consignment requested FPM in the amount, in the form and for the Consignment Period specified. (e) At such time as the Companies shall request the consignment and delivery of Consigned Precious Metal under the Consignment Facility, they shall become obligated to pay to FPM the Lender a market premium per xxxx ounce announced by FPM the Lender at the time of such consignment. Such payment is to be made within five (5) Business Days of the Companies' receipt of the Lender's monthly invoice. (f) invoice by bank wire to a bank of the Lender's choice. At such time as the Companies shall purchase and withdraw Consigned Precious Metal from consignment under the Consignment Facility, they shall become obligated to pay to the Lender (i) pay to FPM (x) a purchase price computed in accordance with Paragraph 2.2 hereof if such purchase is effected by the Companies (and the Companies have notified FPM) prior to 11:30 A.M.2:30 P.M., London Greenwich Mean Time, on any London Banking Business Day, plus any applicable premium, or (yii) such other purchase price as shall be mutually agreed upon by FPM the Lender and the Companies, or (ii) deliver Precious Metal to FPM's pool accounts, loco London, in an amount equal to the Precious Metal purchased. All payments of purchase price for Consigned Precious Metal or deliveries of Precious Metal are to be made within two (2) London Banking DaysBusiness Days of such purchase by bank wire to a bank of the Lender's choice, provided, however, title to such Consigned Precious Metal shall not pass until the payment of such purchase price. Consigned Precious Metal shall be deemed to have been purchased and withdrawn from consignment, and payment of the purchase price shall become due, consignment at the earlier of (i) such time as either Consigned Precious Metal or inventory containing Consigned Precious Metal is shipped from an Approved Location, or (ii) such time as the Companies shall notify FPM, the Lender they elect to purchase such Consigned Precious MetalMetal from the Lender, or (iiiii) such time as the Companies sell such Consigned Precious Metal in the ordinary course of their business. (gc) All payments The Companies hereby agree to pay upon demand, to the extent permitted by law, late charges on any sum or amount not paid when due under the Consignment Facility at a rate per annum equal to the Prime Rate plus five percent (other than payments 5%), from the date of delinquency until payment in full. (d) The Companies hereby authorize the form of Precious Metal) shall be made by the Companies at the office of FPM herein set forth or such other place as FPM may Lender from time to time specify in writing in lawful currency of the United States of America in immediately available funds, without counterclaim or setoff and free and clear of, and without to charge any deduction or withholding for, any taxes or other payments. (hdemand deposit account(s) All payments shall be applied first to the payment of all fees, expenses and other amounts due to FPM (excluding purchase price for Consigned Precious Metal and consignment fees), then to accrued consignment fees and the balance on account of outstanding purchase price for Consigned Precious Metal; provided, however, that after the occurrence of an Event of Default, payments will be applied to the obligations of the Companies maintained with the Lender at any time and from time to FPM as FPM determines in its sole discretion. (i) If this Consignment, Forward Contracts and Trading Line Agreement or time for the purpose of paying any payment hereunder becomes due on a day amounts which is not a Business Day, are at any time properly payable by the due date of this Consignment, Forward Contracts and Trading Line Agreement or payment Companies hereunder. The Lender shall be extended entitled to the next succeeding Business Day, and such extension of time shall be included in computing interest and fees in connection with such paymentrely upon this authorization.