Common use of Periodic Removal of Storage Metal Clause in Contracts

Periodic Removal of Storage Metal. WAM may upon written notice to the Metal Lender in the form of Exhibit E hereto, remove Stored Precious Metal from the Segregated Storage Facility in such quantities as may be required by WAM for its manufacturing operations; provided, however, all quantities of Stored Precious Metal so removed from the Segregated Storage Facility: (a) shall immediately and without further action become and be deemed to constitute Consigned Precious Metal under Section 2 of this Agreement and shall be subject to all of the terms and conditions of this Agreement, including Section 2 hereof; or (b) shall be paid for in full upon terms agreed to at such time by WAM and the Metal Lender. If, following removal of the Stored Precious Metal from the Segregated Storage Facility and its designation as Consigned Precious Metals pursuant to Section 2 of this Agreement, the Consignment Limit is exceeded, WAM will promptly and without further notice from or demand by the Metal Lender, take such action as is required by Section 2.09 hereof to reduce the amount of Consigned Precious Metal outstanding pursuant to the Consignment Facility to an amount at or below the Consignment Limit.

Periodic Removal of Storage Metal. WAM may upon written notice to the Metal Lender Supplier in the form of Exhibit E hereto, remove Stored Precious Metal from the Segregated Storage Facility in such quantities as may be required by WAM for its manufacturing operations; provided, however, all quantities of Stored Precious Metal so removed from the Segregated Storage Facility: (a) shall immediately and without further action become and be deemed to constitute Consigned Precious Metal under Section 2 of this Agreement and shall be subject to all of the terms and conditions of this Agreement, including Section 2 hereof; or (b) shall be paid for in full upon terms agreed to at such time by WAM and the Metal LenderSupplier. If, following removal of the Stored Precious Metal from the Segregated Storage Facility and its designation as Consigned Precious Metals pursuant to Section 2 of this Agreement, the Consignment Limit is exceeded, WAM will promptly and without further notice from or demand by the Metal LenderSupplier, take such action as is required by Section 2.09 hereof to reduce the amount of Consigned Precious Metal outstanding pursuant to the Consignment Facility to an amount at or below the Consignment Limit.

Periodic Removal of Storage Metal. WAM may upon written notice to Upon notifying the Metal Lender in using the form of Exhibit E heretoMetal Lender’s approved notice procedures, a Customer may remove Stored Precious Metal from the its Segregated Storage Facility in such quantities as may be required by WAM such Customer for its manufacturing operations; provided, however, all quantities of Stored Precious Metal so removed from the a Segregated Storage Facility: (a) shall immediately and without further action become and be deemed to constitute Consigned Precious Metal under Section 2 of this Agreement and shall be subject to all of the terms and conditions of this Agreement, including Section 2 hereof; or (b) shall be paid for in full upon terms agreed to at such time by WAM the Customer and the Metal Lender. If, following removal of the Stored Precious Metal from the a Segregated Storage Facility and its designation as Consigned Precious Metals Metal pursuant to Section 2 of this Agreement, the Consignment Limit is exceeded, WAM the Customers will promptly and without further notice from or demand by the Metal Lender, take such action as is required by Section 2.09 hereof to reduce the amount of Consigned Precious Metal outstanding pursuant to the Consignment Facility to an amount at or below the Consignment Limit.

Periodic Removal of Storage Metal. WAM may upon written notice to Upon notifying the Metal Lender in using the form of Exhibit E heretoMetal Lender’s approved notice procedures, a Customer may remove Stored Precious Metal from the its Segregated Storage Facility in such quantities as may be required by WAM such Customer for its manufacturing operations; provided, however, all quantities of Stored Precious Metal so removed from the a Segregated Storage Facility: (a) shall immediately and without further action become and be deemed to constitute Consigned Precious Metal under Section 2 of this Agreement and shall be subject to all of the terms and conditions of this Agreement, including Section 2 hereof; or (b) shall be paid for in full upon terms agreed to at such time by WAM the Customer and the Metal Lender. If, following removal of the Stored Precious Metal from the a Segregated Storage Facility and its designation as Consigned Precious Metals Metal pursuant to Section 2 of this Agreement, the Consignment Limit is exceeded, WAM the Customers will promptly and without further notice from or demand by the Metal Lender, take such action as is required by Section 2.09 2.9 hereof to reduce the amount of Consigned Precious Metal outstanding pursuant to the Consignment Facility to an amount at or below the Consignment Limit.