Refined Metals definition
Examples of Refined Metals in a sentence
However, notwithstanding the foregoing, in each month the aggregate of the Sandstorm Payable Metals, the Sandstorm Accrued Metals and the Sandstorm Expropriated Metals required to be delivered by Entrée shall not, unless Entrée agrees otherwise, exceed the maximum amount of Refined Metals that Entrée can deliver having regard to the Production Payment received by Entrée for that month and the payment for Sandstorm Payable Metals received by Entrée for the preceding month.
For the purposes of this Section 8(m), any amount of Refined Metals set off and withheld in respect of any non-payment amount shall be valued at the Market Price (determined based on the date such amount of Refined Metals would have been credited to the metal account of Sandstorm Gold in accordance with this Article 8 but for such non-payment) less the Fixed Price for the Applicable Metal.
For greater certainty and without limitation, Sandstorm Gold shall have access to all documents provided by each of Colossus Brazil, SPCDM and the Guarantor to an Offtaker, as contemplated under the Offtake Agreements or which otherwise relate to the Applicable Metals produced from the Property vis a vis the Offtaker and that are, in any manner, relevant to the calculation of Sandstorm Gold Payable Metals or the delivery and credit of Refined Metals in respect thereof, in each instance.
Despite the preceding sentence, Sandstorm Gold may exercise such audit, review and examination rights more than twice per year either (a) where the additional audit, review and examination is required by applicable law, (b) with the consent of Colossus Brazil and Guarantor, not to be unreasonably withheld or delayed; or (c) unless one of the previous two audits have revealed that there has been an underreporting of Refined Metals.
Save and except as provided in Article 7, this Agreement shall in no way be construed or considered a guarantee as to the amount of Payable Metals, the amount of Sandstorm Gold Payable Metals or the amount of Refined Metals that will be delivered and sold to Sandstorm Gold, in each case on an annual basis or over the life of the Property.