Common use of Refined Product Streaming Clause in Contracts

Refined Product Streaming. If Refined Product is sold pursuant to a Refined Product Streaming Agreement then the Receipts with respect to such streamed Refined Product shall be calculated based on the Average Gold Price, Average Silver Price or Average COMEX Price, as the case may be, for the calendar quarter in which metal was returned or credited to the account of AEM or its Related Party and Receipts in respect of such Refined Product shall be determined by multiplying Gold Production, Silver Production or Other Refined Product production, as the case may be, for such calendar quarter by the Average Gold Price, Average Silver Price or Average COMEX Price, as the case may be, for such calendar quarter and shall be deemed received by AEM. For greater certainty Receipts shall not be based on any revenues from an upfront deposit and/or payment pursuant to a Refined Product Streaming Agreement.