Offtaker Payment means (i) with respect to Minerals purchased by an Offtaker from a Hudbay Group Entity, the receipt by a Hudbay Group Entity of payment or other consideration from the Offtaker in respect of any Produced Silver or Produced Gold; and (ii) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Hudbay Group Entity, the receipt by a Hudbay Group Entity of Refined Silver or Refined Gold in accordance with the applicable Offtake Agreement; provided that, if a Hudbay Group Entity is the Offtaker, then Offtaker Payment shall mean the creation of Refined Silver or Refined Gold from the smelting, refining or beneficiating of any Produced Silver or Produced Gold, respectively.
Offtaker Payment means (i) with respect to Minerals contained in any Parcel purchased by an Offtaker from any Seller Group Member (or any other Person on behalf of Seller or on behalf of Xxxx Xxxxxx JV with respect to Seller’s Proportionate Share of Minerals) pursuant to an Offtake Agreement, the receipt by any Seller Group Member (or such other Person) of payment or other consideration from an Offtaker in respect of any Reference Metal, and (ii) with respect to Minerals contained in any Parcel refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Seller Group Member (or any other Person on behalf of Seller or on behalf of Xxxx Xxxxxx JV with respect to Seller’s Proportionate Share of Minerals), the receipt by a Seller Group Member (or such other Person) of cobalt or nickel for such Parcel in accordance with the applicable Offtake Agreement; excluding, for purposes of this definition, any deduction made on account of Offtaker Charges. For greater certainty, an Offtaker Payment shall include any payment (including consideration that is set off in whole or in part) owing by an Offtaker to any Seller Group Member (or any other Person on behalf of Seller or on behalf of Xxxx Xxxxxx XX with respect to Seller’s Proportionate Share of Minerals) for Reference Metal that is set off in whole or in part against payments owing by any Seller Group Member or such other Person to such Offtaker.
Offtaker Payment means (i) with respect to (A) Produced Gold purchased by an Offtaker from the Owner or any of its Affiliates; or (B) Produced Gold for which the entitlement to, or benefit of which, is transferred to an Offtaker, the receipt by the Owner or any of its Affiliates of any cash payment or other consideration (including any gold credits) from the Offtaker in respect of any Produced Gold; and (ii) with respect to Produced Gold refined, smelted or otherwise beneficiated by an Offtaker on behalf of the Owner or any of its Affiliates, the receipt by the Owner or any of its Affiliates of any cash payment or Refined Gold in accordance with the applicable Offtake Agreement.
Examples of Offtaker Payment in a sentence
The Seller will deliver the Purchaser’s share of Purchased Silver to the Purchaser by way of credit (in metal) to a metal account in London designated by the Purchaser within five Business Days after the date of each Offtaker Settlement in respect of an Offtaker Payment.
For example, the amount of Refined Gold in the Offtaker Delivery for which an Offtaker Payment is received by a Seller PMPA Entity during the month of January will give rise to a Delivery Obligation on or before the 15th day of February.
For greater certainty, Xxxxxx’s obligation to make Deliveries hereunder is triggered upon the receipt of an Offtaker Payment, the appropriation of MH Product from stockpiles pursuant to section 5.1 of the JV Agreement, as applicable, and receipt of proceeds pursuant to Sections 7.5 and 7.9.
More Definitions of Offtaker Payment
Offtaker Payment means (i) with respect to Minerals purchased by an Offtaker from the Seller, the receipt by the Seller of payment, whether provisional or final, or other consideration from the Offtaker in respect of any Produced Copper, Produced Gold or Produced Silver, including amounts received in respect of warehouse holding certificates, and (ii) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of the Seller, the receipt by the Seller of marketable copper, Refined Gold or Refined Silver in accordance with the applicable Offtake Agreement.
Offtaker Payment means (i) with respect to (A) Minerals purchased by an Offtaker from a Seller Group Entity, or (B) Minerals the entitlement to, or benefit of which, is received by an Offtaker from a Seller Group Entity, the receipt from and after the Closing Date by a Seller Group Entity of payment or other consideration (including any LME Warrants) from the Offtaker in respect of any Minerals, or if no such consideration is applicable, the delivery of the Minerals (or ownership of the Minerals) to such Offtaker (or to the direction of such Offtaker); and (ii) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Seller Group Entity, the receipt from and after the Closing Date by a Seller Group Entity of any Refined Copper in accordance with the applicable Offtake Agreement.
Offtaker Payment means (i) with respect to (A) Minerals purchased by an Offtaker from a Seller Group Entity, or (B) Minerals the entitlement to, or benefit of which, is received by an Offtaker from a Seller Group Entity, the receipt from and after the Effective Date by a Seller Group Entity of payment or other consideration (including any silver credits) from the Offtaker in respect of any Minerals, or if no such consideration is applicable, the delivery of the Minerals (or ownership of the Minerals) to such Offtaker (or to the direction of such Offtaker); (ii) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Seller Group Entity, the receipt from and after the Effective Date by a Seller Group Entity of any Refined Silver in accordance with the applicable Offtake Agreement; and (iii) with respect to any period commencing on the Effective Date and ending on the Closing Date, the receipt by any Person of payment, Refined Silver or other consideration (including any silver credits) from an offtaker or processor in respect of any Minerals (A) purchased by an offtaker, or processor (B) entitlement to, or benefit of which, is received by an offtaker or processor, or (C) which are refined, smelted or otherwise beneficiated by an offtaker or processor on behalf of such Person. .
Offtaker Payment means (i) with respect to Minerals purchased by an Offtaker from the Mine Owner or any of its Affiliates, the receipt by the Mine Owner or any of its Affiliates or assignees of payment or other consideration from the Offtaker in respect of any Reference Copper; and (ii) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of the Mine Owner or any of its Affiliates, the receipt by the Mine Owner or any of its Affiliates of Refined Copper in accordance with the applicable Offtake Agreement; provided that, if a Seller Group Entity is the Offtaker, then “Offtaker Payment” shall mean the receipt of Refined Copper from the smelting, refining or beneficiating of any Reference Copper.
Offtaker Payment means (a) with respect to Minerals contained in any Lot purchased by an Offtaker from a Seller Group Entity pursuant to an Offtake Agreement, the receipt by a Seller Group Entity of payment or other consideration from the Offtaker in respect of any Reference Gold or Reference Silver in such Lot in accordance with the applicable Offtake Agreement, and (b) with respect to Minerals contained in any Lot refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Seller Group Entity, the receipt by a Seller Group Entity of gold or silver for such Lot in accordance with the applicable Offtake Agreement; provided that if a Barrick Group Entity is the Offtaker, then Offtaker Payment shall mean the creation of Refined Gold and/or Refined Silver from the smelting, refining or beneficiating of any Reference Gold or Reference Silver in such Lot, as applicable; and, provided further, that if a Transfer has occurred pursuant to Section 6.8(c)(iii) any Offtaker Payment received by a Seller Group Entity will be deemed to have been received for all purposes of this Agreement (other than for the purpose of determining whether the Seller Group Entities are in compliance with Section 6.9(a)) in respect of all Reference Gold and Reference Silver in such Lot as if the transfer in Section 6.8(c)(iii) had not occurred, notwithstanding that the entitlement of the Seller Group Entities to Minerals from such Lot shall be less than the Reference Gold and Reference Silver as a result of the decrease in the Xxxxxxx XX Interest;
Offtaker Payment means the receipt by a Supplier Group Entity of payment or other consideration (including any metal credits) from an Offtaker in respect of any Minerals in an Offtaker Delivery, or, if no such consideration is applicable, the delivery or Transfer of Minerals (or title to Minerals or the entitlement to or benefit of Minerals) to an Offtaker in an Offtaker Delivery; provided that with respect to Minerals in an Offtaker Delivery which are refined, smelted or otherwise beneficiated by an Offtaker on behalf of a Supplier Group Entity, “Offtaker Payment” includes the receipt by a Supplier Group Entity of any Refined Gold or Refined Palladium from an Offtaker.
Offtaker Payment means (a) with respect to (i) Minerals purchased by an Offtaker from an Artemis Group Entity, or (ii) Minerals the entitlement to, or benefit of which, is received by an Offtaker from an Artemis Group Entity, the receipt by an Artemis Group Entity of payment or other consideration (including any gold credits) from the Offtaker in respect of any Produced Gold in accordance with the applicable Offtake Agreement; and (b) with respect to Minerals refined, smelted or otherwise beneficiated by an Offtaker on behalf of an Artemis Group Entity, the receipt by an Artemis Group Entity of any Refined Gold in accordance with the applicable Offtake Agreement;