Gold Advance definition
Examples of Gold Advance in a sentence
All costs incurred by the Facility User in connection with the sale of any Gold comprising the Gold Advance in accordance with this agreement are solely for the Facility User’s own account.
For purposes of determining the liability of the Borrower after default by the Borrower in payment when due (at stated maturity, by acceleration or otherwise) to any Lender of any Gold Advance, the Borrower agrees to pay to such Lender, at the option of such Lender the quantity of Gold then due in troy ▇▇▇ces or the greater of the Dollar Equivalent of such quantity (a) on the due date thereof or (b) on the date such amount is actually paid to such Lender.
As soon as reasonably practicable (and in any event within 30 days) after the Gold Advance Date, the Facility User shall cause NewCo Barbados to amend the articles of incorporation of NewCo Barbados with respect to the restrictions on transfer of shares, in such manner and form as shall reasonably be requested by the Facility Provider, and shall keep the Facility Provider apprised of all material developments in that regard.
Subject to the terms and conditions of this agreement, the Facility Provider will make available to the Facility User during the Gold Availability Period a gold facility under which the Facility User may request the delivery of a quantity of Gold comprising the Gold Advance and the Facility Provider will deliver the Gold Advance, up to the Gold Facility Limit.
Notwithstanding anything contained herein to the contrary, this subsection (d) shall not apply to Gold Borrowings unless each Lender, in its sole discretion, agrees to make a Gold Advance.
On the date of the Gold Advance, the Facility User will apply the net proceeds of the sale of the quantity of Gold equal to the Gold Advance, as set forth in section 2.1(3)(d), to the purchase of all of the issued and outstanding shares in the capital of NewCo Canada pursuant to the Acquisition Agreement.