Eligible Precious Metals definition

Eligible Precious Metals means Inventory of the Borrower which is Precious Metals that complies with each of the representations and warranties respecting Precious Metals Inventory made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by the Required Lenders in their Permitted Discretion to address the results of any field examination or appraisal performed by Administrative Agent from time to time after the Effective Date. An item of Precious Metals Inventory shall not be included in Eligible Precious Metals if:
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Eligible Precious Metals means the platinum and rhodium of the Loan Parties (a) that is owned by a Loan Party, (b) with respect to which the representations and warranties applicable to such platinum and rhodium contained in any Loan Document are true and correct in all material respects, (c) with respect to which the Loan Parties have maintained reporting requirements and controls as to the custody of such metals that are satisfactory to the Administrative Agent, and, in each case, that the Administrative Agent deems to be Eligible Precious Metals based on such credit and collateral considerations as the Administrative Agent may, in its sole discretion exercised reasonably, deem appropriate for this transaction and for such assets. The value of such precious metals shall be determined by the Administrative Agent in its sole discretion taking into consideration any and all factors the Administrative Agent may deem appropriate for such purposes. By way of example only, and without limiting the discretion of the Administrative Agent to consider any precious metals not to be Eligible Precious Metals, the Administrative Agent will consider any of the following classes of precious metals not to be Eligible Precious Metals:
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Eligible Precious Metals means Inventory of the Borrower which is Precious Metals that complies with each of the representations and warranties respecting Inventory consisting of Precious Metals made in this Agreement or the other the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by the Agent in its Permitted Discretion to address the results of any field examination or appraisal performed by Agent from time to time after the Closing Date. An item of Inventory consisting of Precious Metals shall not qualify as Eligible Precious Metals if:
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Examples of Eligible Precious Metals in a sentence

  • Without limitation of the foregoing, Precious Metals owned by the Borrower which are subject to an agreement under which the counterparty thereto has the right to require the Borrower to re-sell such Precious Metals to such counterparty (a “Repo”) shall not be excluded from Eligible Precious Metals solely because of such arrangement.

  • If the Entity sources Recyclable Precious Metals from commercial suppliers (5.2a), it must have a documented description of criteria for the sources or types of Eligible Precious Metals that it will accept.

  • Without limitation of the foregoing, Precious Metals owned by the Borrower which are subject to an agreement under which the counterparty thereto has the right to require the Borrower to re-sell such Precious Metals to such counterparty (a “Repo”) shall not be disqualified as Eligible Precious Metals solely because of such arrangement.

  • For the avoidance of doubt (i) Precious Metals subject to Metals Leases shall not be Eligible Precious Metals and (ii) Precious Metals shall in no event include any Precious Metals which are subject to Liabilities on Borrowed Metals.

  • Any Inventory consisting of Precious Metals which at any time qualifies as Eligible Precious Metals, but which subsequently satisfies any of the foregoing exclusion criteria, shall forthwith cease to be Eligible Precious Metals until such time as such Inventory consisting of Precious Metals no longer satisfies any of the foregoing exclusion criteria.

  • Eligible Securities and Eligible Precious Metals: the Clearing House revalues Eligible Securities and Eligible Precious Metals on a daily basis with prices provided by third party price sources.

Related to Eligible Precious Metals

  • Precious metals means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium.

  • Consignment means products which are either sent simultaneously from one exporter to one consignee or covered by a single transport document covering their shipment from the exporter to the consignee or, in the absence of such a document, by a single invoice;

  • Disposable respirator means a respirator for which maintenance is not intended and that is designed to be discarded after excessive breathing resistance, sorbent exhaustion, physical damage, or end-of-service-life renders it unsuitable for use. Examples of this type of respirator are a disposable half-mask respirator or a disposable escape-only self-contained breathing apparatus (SCBA).

  • Eligible Loan means a Loan offered for sale or substituted by Seller under a Sale Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Sale Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan:

  • Consignee means the person to whom the goods are required to be delivered as specified in the Contract. If the goods are required to be delivered to a person as an interim consignee for the purpose of dispatch to another person as provided in the Contract then that "another" person is the consignee, also known as ultimate consignee.