Consignment Limit definition

Consignment Limit means (a) the lesser of: (i) One Hundred Forty Million Dollars ($140,000,000); and (ii) the value (as determined in accordance with Section 2.2 hereof) of the Customers’ Inventory of Precious Metal (including any Precious Metal obtained or, at the time of determination, proposed to be obtained, by a Customer pursuant to this Agreement) at Approved Locations or in transit between any Approved Locations which is (A) not outstanding on consignment, loan or lease to the Customers from Approved Consignors under Permitted Precious Metals Agreements, and (B) is free and clear of all Liens other than Permitted Metal Liens, minus (b) the Gold Loan Facility Indebtedness.

Consignment Limit as set forth in Section 1.01 of the Consignment Agreement is hereby amended to read in its entirety as follows:

Consignment Limit means (a) the lesser of (i) Forty Million Dollars ($40,000,000), and (ii) the value (as determined in accordance with Section 2.02) of 30,000 ounces of Platinum; or (b) such other limit as Consignor and Customer may agree upon from time to time as evidenced by an amendment in substantially the form of Exhibit C attached hereto and made a part hereof.”

Examples of Consignment Limit in a sentence

• It is understood that at no time shall the Consignment Facility Indebtedness exceed the Consignment Limit.

• If the value of commodities on consignment at any time exceeds the Consignment Limit, Customer will promptly either (a) purchase and withdraw from consignment (and make payment to Consignor as provided in Paragraph 3), a quantity of consigned commodities which has an aggregate value sufficient to result in the value of the remaining consigned commodities to be less than the Consignment Limit, or (b) deliver to Consignor sufficient of such consigned commodities to achieve the same result.

• Subject to Section 2.09 below, it is understood that at no time shall the Consignment Facility Indebtedness exceed the Consignment Limit.

• 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.

• If for any reason the number of troy xxxces or Fair Market value (or unpaid Purchase Price in the case of Consigned Precious Metal for which the Purchase Price has been agreed but payment has not been received by Consignor) of all Consigned Precious Metal at any time exceeds Consignee's Consignment Limit, Consignee shall immediately Redeliver to Consignor, or purchase and pay for, Precious Metal of a quantity, or with a Fair Market Value, sufficient to eliminate such excess.

More Definitions of Consignment Limit

Consignment Limit means the maximum amount which the Insurers will pay in respect of Property despatched or received under one consignment note

Consignment Limit means the lesser of: (a) Twenty-Five Million Dollars ($25,000,000); or (b) Ninety percent (90%) of the aggregate undrawn face amount of the Letters of Credit.

Consignment Limit means (a) the lesser of: (i) Forty Million Dollars ($40,000,000); and (ii) the value (as determined in accordance with Section 2.02 hereof) of the Customers’ Inventory of Precious Metal (including any Precious Metal obtained or, at the time of determination, proposed to be obtained, by a Customer pursuant to this Agreement) at Approved Locations or in transit between any Approved Locations which is free and clear of all Liens other than Permitted Metal Liens, minus (b) the Gold Loan Facility Indebtedness.

Consignment Limit means: (a) the lesser of (i) Seventeen Million Dollars ($17,000,000), or (ii) the value (as determined pursuant to Paragraph 2.2 hereof) of Two Million Four Hundred Thousand (2,400,000) fine troy ounces of silver, minus, in the case of both (i) and (ii), the Fxxxxrd Contract Indebtedness; or (b) such limit as BAPM and the Companies may agree upon from time to time as evidenced by an amendment in substantially the form of Exhibit B attached hereto and made a part hereof or in such other form as BAPM shall require.

Consignment Limit means the lesser of (a) 45,000 troy ounces of fine gold, or (b) Coxxxxned Precious Metal with a Fair Market Value (or unpaid Purchase Price in the case of Consigned Precious Metal for which the Purchase Price has been agreed but payment has not been received by Consignor) equal to $14,000,000.00 LESS the Bullion Forward Exposure Amount.

Consignment Limit means the lesser of (a) 45,000 troy ounces of fine gold, or (b) Coxxxxned Precious Metal with a Fair Market Value(or unpaid Purchase Price in the case of Consigned Precious Metal for which the Purchase Price has been agreed but payment has not been received by Consignor) equal to $15,000,000.00

Consignment Limit means: Eighteen Million Dollars ($18,000,000)