Segregated Storage Facility definition
Examples of Segregated Storage Facility in a sentence
Any person identifying himself or herself as an Authorized Representative of a Customer and who is identified on such current list of the Customer shall have the right to effect transactions under the Consignment Facility, the Gold Loan Facility, the Forward Contract Facility, the Segregated Storage Facility and this Agreement.
Each request by a Customer or the Customer Agent to the Metal Lender for the delivery of Precious Metal under the Consignment Facility, Gold Loan Facility and the Segregated Storage Facility, and for a Forward Contract under the Forward Contract Facility, shall be deemed to be a representation and warranty to the Metal Lender that the respective conditions specified in Section 6.02 for such Consignment and/or Forward Contract have been satisfied.
WAM and the Metal Lender agree and intend that all Stored Precious Metal within the Segregated Storage Facility shall be owned solely by the Metal Lender.
During such twenty-four (24) month period, the Bank shall continue to provide the Employee with hospital, health, medical and life insurance, and any other benefits in effect at the time of such termination.
Neither WAM (nor any other Customer) nor the Metal Lender shall be required to pay to the other any consignment fees, gold loan fees, market premiums or any other fees with respect to the Stored Precious Metal while it is in the Segregated Storage Facility, and no consignment fees shall be imposed until such time as Stored Precious Metal is removed from the Segregated Storage Facility by WAM pursuant to the provisions of Section 4.02 hereof.
All Precious Metal currently located in the Segregated Storage Facility pursuant to the Original Agreement shall constitute Stored Precious Metal for the purposes of this Agreement.
The Segregated Storage Facility shall terminate on the Maturity Date or on such earlier date as the Metal Lender accelerates the Obligations by reason of the occurrence of an Event of Default hereunder.
From time to time, WAM may receive reasonable written instructions from the Metal Lender specifying that a quantity of Stored Precious Metal shall be delivered to the Metal Lender or to a third party located in the continental United States and within a 100-mile radius of the Segregated Storage Facility and designated by the Metal Lender in accordance with such instructions.
The Customers will at all times provide to the Metal Lender access to each Segregated Storage Facility and to its related premises and related books and records during regular business hours, with or without notice, in order to permit the Metal Lender to verify the Customers’ compliance with the terms of this Section 4.
Termination of any particular Segregated Storage Facility shall not affect any Customer’s duty to perform its obligations to the Metal Lender under this Section 4.