Refined Silver definition

Refined Silver means marketable metal bearing material in the form of silver bars or coins that is refined by an accredited refiner that is on the LBMA’s Good Delivery List to a minimum 999 parts per 1,000 fine silver and that otherwise meets the LBMA’s Good Delivery Rules.

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Refined Silver means all and any refined silver bullion produced, derived or resulting from Unrefined Silver originating from the Properties or any portion thereof;

Refined Silver means silver produced from ore mined from the Royalty Properties that is refined to meet or exceed generally accepted commercial standards for the “good delivery” of silver bullion on the U.S. or London commodity exchanges.

Examples of Refined Silver in a sentence

Payment by the Purchaser for each Delivery of Refined Silver shall be made: (A) on the third Business Day following the Delivery Date; and (B) to the Seller Revenues Account.
Such audit or other review or examination shall be at the Purchaser's expense, provided that, if it is established by such audit or other review or examination, or further to a Dispute (as defined in Clause 14.1), that the amount of Refined Silver Delivered on a given Delivery Date was less than the amount that should have been Delivered under this Agreement by 10 per cent or more, then the Seller shall immediately on demand pay the costs of such audit or other review or examination to the Purchaser.
Until replacement specifications for good delivery of silver are mutually agreed on by the Purchaser and the Seller in writing, deliveries of Refined Silver by the Seller to the Purchaser under this Agreement shall conform to the last set of specifications for good delivery of silver in effect under this Agreement immediately prior to the time such specifications ceased to be published or recognized and these specifications shall be the good delivery specifications for the purposes of this Agreement.
The Silver Purchase Price (determined by the Silver Market Price as established by the price in US dollars quoted by the London Bullion Market Association) is the consideration for selling the Refined Silver in respect of each Delivery and invoice, including where set off against the Prepayment Amount.
Subject to Clause 2.6, any amount of Refined Silver set off and withheld against any non-payment by a Party shall be valued at the Silver Market Price as at two Business Days before the relevant Delivery Date and shall result in a reduction in an amount of Refined Silver otherwise to be Delivered by that number of ounces equal to the dollar amount set off divided by the Silver Market Price, as applicable, as at two Business Days before the relevant Delivery Date.
Provided that no Purchaser Event of Default is continuing, the Purchaser may set off any dollar amount or Refined Silver owed to the Purchaser by the Seller against any dollar amount owed by the Purchaser to the Seller under this Agreement or any Stream Document.

More Definitions of Refined Silver

Refined Silver means silver of a minimum 0.999 fineness in silver bars, conforming in all respects with the specification for “Good Delivery Silver Bars” under the “Good Delivery Rules”, as published by the London Bullion Market Association from time to time;

Refined Silver means refined silver meeting or exceeding the current specifications for refined silver published by Handy & Harman;

Refined Silver has the meaning set out in the recitals of this Agreement.

Refined Silver means refined silver meeting the good delivery requirements of the LBMA or, in the absence of such requirements, having a fineness of 999 parts per thousand;

Refined Silver means marketable metal-bearing material in the form of silver that is refined to standards meeting or exceeding LBMA 'Good Delivery' standards (or such other commercial standard agreed between the parties from time-to-time) for the sale of refined silver.

Refined Silver means refined silver meeting the good delivery requirements of the LBMA or, in the absence of such requirements, having a fineness of 999 parts per thousand;