Common use of True Consignment Clause in Contracts

True Consignment. This Credit Agreement is intended to be a true consignment agreement, where, following a Consignment, the Gold Agent shall have title to the Consigned Precious Metal until sold by the Borrower. If, notwithstanding the foregoing sentence, it is determined for any reason that the consignment created hereby is one intended as security or that the consignment is a sale or return or other sale, the Consigned Precious Metal shall constitute Collateral under the terms of the Security Agreement, and the terms of the Security Agreement shall govern the Banks' security interest therein.

True Consignment. This Credit Agreement is intended to be a true consignment agreement, where, following a Purchase and Consignment, the Gold Agent shall have Fronting Bank takes title to the Consigned Precious Metal until sold by the Borrower. If, notwithstanding the foregoing sentence, it is determined for any reason that the consignment created hereby is one intended as security or that the consignment is a sale or return or other sale, the Consigned Precious Metal shall constitute Collateral under the terms of the Security Agreement, and the terms of the Security Agreement shall govern the Banks' security interest therein.

True Consignment. This Credit Agreement is intended to be a true consignment agreement, where, following a Purchase and Consignment, the Gold Agent shall have takes title to the Consigned Precious Metal Metal, for the benefit of the Gold Banks, until sold by the Borrower. If, notwithstanding the foregoing sentence, it is determined for any reason that the consignment created hereby is one intended as security or that the consignment is a sale or return or other sale, the Consigned Precious Metal shall constitute Collateral under the terms of the Security Agreement, Agreements and the terms of the Security Agreement shall govern the Banks' security interest therein.