Gold Market Price definition

Gold Market Price means, with respect to any day, the per ounce gold afternoon (p.m.) fixing price in U.S. dollars quoted by the London Bullion Market Association on such day or the immediately preceding trading day if such day is not a trading day; provided that, if for any reason, the London Bullion Market Association is no longer in operation or the price of gold is not confirmed, acknowledged by or quoted by the London Bullion Market Association on such trading day, the Gold Market Price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Parties, acting reasonably.

Gold Market Price means, per ounce, the mean average LBMA Gold Price PM, in US dollars, quoted by the London Bullion Market Association (in partnership with ICE Benchmark Administration as at the date of this Agreement) for the [***] of the calendar month preceding the Delivery Date.

Gold Market Price means, with respect to any day, the afternoon (p.m.) per ounce LBMA Gold Price in U.S. dollars quoted by the LBMA (currently administered by the ICE Benchmark Administration) for Refined Gold on such day, or if such day is not a trading day, on the immediately preceding trading day; provided that, if for any reason, the LBMA is no longer in operation or the price of gold is not confirmed, acknowledged or quoted by the LBMA (currently administered by the ICE Benchmark Administration), the Gold Market Price shall be determined by reference to the price of Refined Gold in a manner endorsed by the LBMA, and failing that the Gold Market Price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Seller and the Purchaser, acting reasonably (and references to LBMA trading day in this agreement shall be adjusted accordingly).

Examples of Gold Market Price in a sentence

• Notwithstanding the foregoing, if such difference is negative and no further deliveries are to be made under this Agreement, the Purchaser shall pay the applicable Gold Market Price, determined as of the Date of Delivery of the excess ounces of Refined Gold delivered hereunder to the extent not already paid (including by way of set-off), less any Gold Cash Price previously paid in respect thereof.

• If the Payor Group Entities sell Minerals to an Offtaker for payment in cash, then the Payor shall satisfy its obligation to pay the Royalty in kind (where applicable) by crediting Refined Gold to the unallocated metal account designated by Payee, with the number of ounces of Refined Gold so credited being the equal to the amount of the relevant Royalty payment divided by the average of the Gold Market Price for all trading days during the calendar month to which the Royalty payment relates.

• The Seller shall cause the Owner to operate the Mine on a commercial basis as though it has the full economic interest in the Produced Gold in the absence of this Agreement and as if the Owner is entitled to receive the Gold Market Price for all Produced Gold.

• Any dollar amount set off and withheld in accordance herewith against any Overdue Silver Ounces or Overdue Gold Ounces shall result in a reduction to the Overdue Silver Ounces or Overdue Gold Ounces, as applicable, by that number of ounces equal to the dollar amount set off divided by the Silver Market Price or the Gold Market Price, as applicable, as of the day such dollar amount first became payable.

• Any dollar amount set off and withheld against any Overdue Gold Ounces or Overdue Palladium Ounces shall result in a reduction to the Overdue Gold Ounces and Overdue Palladium Ounces by that number of ounces equal to the dollar amount set off divided by the Gold Market Price or Palladium Market Price, as applicable, as of the day such dollar amount first became payable.

More Definitions of Gold Market Price

Gold Market Price means, as of any Business Day, the price of a xxxx ounce of gold, stated in U.S. Dollars, as determined by ICE Benchmark Administration as the administrator of the London gold price selected by the LBMA (or any successor administrator of the London gold price), at or about 3:00 p.m., London, England time, as the “LBMA Gold Price PM” for such Business Day.

Gold Market Price means, with respect to any day, the per ounce LBMA Gold Fixed Price PM in U.S. dollars published by the London Bullion Market Association on such day or the immediately preceding trading day if such day is not a trading day; provided that if for any reason, the London Bullion Market Association is no longer in operation or the price of gold is not confirmed, acknowledged by or quoted by the London Bullion Market Association, the Gold Market Price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Parties, acting reasonably.

Gold Market Price as of any day, means the simple average of the daily per ounce LBMA Gold Price (PM) in United States dollars as administered by ICE Benchmark Administration (IBA) and quoted by the LBMA for Refined Gold for the five trading days prior to such day (or the immediately preceding trading day if such day is not a trading day), provided that if for any reason, the LBMA is no longer in operation or the price of gold is not confirmed, acknowledged by or quoted by the LBMA, the Gold Market Price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Parties, acting reasonably.

Gold Market Price has the meaning set out in Section 3.2(a).

Gold Market Price means, as of any Business Day, the price of a troy ounce of gold, stated in U.S. Dollars, as determined by ICE Benchmark Administration as the administrator of the London gold price selected by the LBMA (or any successor administrator of the London gold price), at or about 3:00 p.m., London, England time, as the “LBMA Gold Price PM” for such Business Day.

Gold Market Price as of any day, means the simple average of the daily per ounce LBMA Gold Price (PM) in United States dollars as quoted by the LBMA for Refined Gold for the five (5) trading days immediately prior to such day, provided that if for any reason the LBMA is no longer in operation or the price of gold is not confirmed, acknowledged by or quoted by the LBMA, the Gold Market Price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Parties, acting reasonably.

Gold Market Price means, with respect to any day, the afternoon per ounce LBMA Gold Price in U . S . dollars quoted by the London Bullion Market Association ( in partnership with ICE Benchmark Administration as at the date of this Agreement) for Refined Gold on such day or, if such day is not a trading day, the immediately preceding trading day ; provided that ( i ) if the LBMA Gold Price is no longer quoted by the London Bullion Market Association, the Gold Market Price shall be determined by reference to the price of Refined Gold in the manner endorsed by the London Bullion Market Association, or (ii) if the London Bullion Market Association ceases to be in operation, the Gold Market Price shall be