Monthly Average Silver Price definition
Monthly Average Silver Price means the average New York Silver Price as published daily by Handy & ▇▇▇▇▇▇, calculated by dividing the sum of all such prices reported for the month by the number of days in such month for which such prices were reported. If the Handy & ▇▇▇▇▇▇ quotations cease to be published, all such references shall be replaced with references to prices of silver for immediate sale in another established market selected by Payor as published in Metals Week magazine, and if Metals Week magazine no longer publishes such prices, the prices of such other association or entity generally accepted and recognized in the mining industry.
Monthly Average Silver Price means the average New York Silver Price as published daily by Handy & ▇▇▇▇▇▇ for a ▇▇▇▇ ounce of refined silver of a quality that is equal to or less than the quality of refined silver produced from the ores and minerals meeting the standards applicable to the refined silver for which the Gross Value is to be determined hereunder, calculated by dividing the sum of all such prices reported for the calendar month in question by the number of days for which such prices were reported. In the event that the Handy & ▇▇▇▇▇▇ quotation ceases or quotes prices for refined silver of a quality that is greater than the quality of refined silver for which the Gross Value is being determined hereunder, all such references shall be replaced with references to prices of silver of a comparable quality for immediate delivery in the most nearly comparable established market selected by Miranda as published in “Metals Week” or a similar publication.
Monthly Average Silver Price means the average London Bullion Market Association “P.M. Silver Fix” in United States dollars (or, should that quotation cease, another similar quotation acceptable to the Parties or, if they cannot agree, determined by arbitration hereunder), calculated by dividing the sum of all such prices reported for the Month by the number of days for which such prices were reported;
Examples of Monthly Average Silver Price in a sentence
The Royalty payable on Precious Metals or other Minerals subject to Hedging Activities shall be determined in the same manner as provided in this Section 3 and Sections 4 and 5, with the understanding that the Precious Metals or other Minerals subject to Hedging Activities shall be deemed to be part of Monthly Production, with the Monthly Average Gold Price, Monthly Average Silver Price or Monthly Average COMEX Price, as applicable, for such month being used in the calculation of the Royalty.
If such selection has not been made prior to the end of the calendar month in which the price quotations became unavailable, the Monthly Average Gold Price, the Monthly Average Silver Price and/or the Monthly Average COMEX Price, as applicable, for the last complete month for which the price quotations were available shall be used on an interim basis pending such selection.
Notwithstanding the use of the Monthly Average Gold Price and Monthly Average Silver Price in the calculation of Net Smelter Returns, the Parties agree that receipt of in-kind credits by the Payee in compliance with this Section 5 shall constitute payment of the Royalty, notwithstanding any difference between the spot prices for gold and silver on the date of credit and the Monthly Average Gold Price and Monthly Average Silver Price, respectively, applicable to the Precious Metals credited.
More Definitions of Monthly Average Silver Price
Monthly Average Silver Price means the average closing Engelhard industrial bullion price for silver calculated by dividing the sum of all such prices reported for the applicable calendar month of calculation by the number of days for which such prices were reported, as reported in the Wall Street Journal in the table: “Cash Prices”. If the Engelhard quotation ceases to be made or published, all such references shall be replaced with references to prices of silver for immediate delivery in the most nearly comparable established market reasonably selected by Producer as published in “Metals Week” or a similar publication.
Monthly Average Silver Price means the average New York Silver Price as published daily by Handy & ▇▇▇▇▇▇, calculated by dividing the sum of all such prices reported for the calendar month by the number of days for which such prices were reported. If the Handy & ▇▇▇▇▇▇ quotation ceases to be published, the Monthly Average Silver Price shall be determined by reference to prices for refined silver for immediate delivery in the most nearly comparable established market selected by Payor as published in "Metals Week" or a similar publication. (iii) If Payor sells refined metals (other than refined gold and refined silver), dore or concentrates produced from Valuable Minerals from the Claims, the Gross Returns for such refined metals shall be the proceeds actually received by Payor from their sale. If such sales are to an Affiliate, the refined metals, dore, or concentrates shall be deemed, solely for the purpose of computing Gross Returns, to have been sold at prices and on terms no less favorable to Payor than those which would have been received under similar circumstances from an unaffiliated third party. As used herein, "Affiliate" means any person, partnership, limited liability company, joint venture, corporation, or other form of enterprise which Controls, is Controlled by, or is under common Control with Optionee, and "Control" means the ability, directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity through (A) the legal or beneficial ownership of voting securities or membership interests; (B) the right to appoint managers, directors or corporate management; (C) contract; (D) operating agreement; (E) voting trust; or (F) otherwise.
Monthly Average Silver Price means the average New York Silver Price as published daily by Handy & Harman for a troy ounce of refined silver of a quality that is e▇▇▇▇ ▇o or le▇▇ ▇han the quality of refined silver produced from the ores and minerals meeting the standards applicable to the refined silver for which the Gross Value is to be determined hereunder, calculated by dividing the sum of all such prices reported for the calendar month in question by the number of days for which such prices were reported. If the Handy & Harman quotation ceases or quotes prices for refined silver of a qua▇▇▇▇ that is greater than the quality of refined silver for which the Gross Value is being determined hereunder, all such references shall be replaced with references to prices of silver of a comparable quality for immediate delivery in the most nearly comparable established market selected by Producer as published in "Metals Week" or a similar publication.
Monthly Average Silver Price means, in respect of each calendar month, the average New York silver price as published daily by Handy & Harman, calculated by divi▇▇▇▇ ▇he sum of all such prices reported for the calendar month by the number of days for which such prices were reported;
Monthly Average Silver Price means the average New York Silver Price as published daily by Handy & ▇▇▇▇▇▇ in the Wall Street Journal, calculated by dividing the sum of all such prices reported for the calendar month by the number of days in such calendar month for which such prices were reported. If the Handy & ▇▇▇▇▇▇ quotations cease to be published, all such references shall be replaced with references to prices of silver for immediate sale in another established market selected by Buyer as published in Metals Week magazine. v. "Net Smelter Returns" means the Value of all Minerals, less all costs, charges and expenses paid or incurred by Buyer with respect to smelting and refining of such Minerals, including without limitation (i) charges for treatment in the smelting and refining processes (including handling, processing, interest and provisional settlement fees, sampling, assaying and representation costs, penalties and other processor deductions); (ii) actual costs of transportation (including freight, insurance, security, transaction taxes, handling, port, demurrage, delay and forwarding expenses incurred by reason of or in the course of such transportation) of Minerals to the place of treatment, including any costs incurred by Buyer for transportation of such Minerals from the Talapoosa Property to the place of sale; and (iii) actual sales and brokerage costs, if applicable, on Minerals for which the Gunpoint Royalty is payable. vi. "Silver Production" means the quantity of refined silver outturned to Buyer's account by an independent third-party refinery for silver produced from the Talapoosa Property during the calendar month on either a provisional or final settlement basis. vii. "Value," for the purpose of calculating Gunpoint Royalty as defined herein, shall be determined on a calendar month basis and have the following meanings with respect to the following Minerals: Exhibit H – Page 1 a.
Monthly Average Silver Price means the average New York Silver Price as
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