Silver Market Price definition
Silver Market Price means the spot rate per ounce LBMA Silver Price PM in US dollars quoted by the London Bullion Market Association (in partnership with ICE Benchmark Administration as at the date of this Agreement) for Refined Silver on the relevant Delivery Date.
Silver Market Price means, with respect to any day, the afternoon per ounce silver fixing price in U.S. dollars quoted by the London Bullion Market Association for Refined Silver on such day or, if such day is not a trading day, the immediately preceding trading day; provided that if, for any reason, the London Bullion Market Association is no longer in operation or the price of Refined Silver is not confirmed, acknowledged or quoted by the London Bullion Market Association, the Silver Market Price shall be determined by reference to the price of Refined Silver on a commodity futures exchange mutually acceptable to the Parties.
Silver Market Price means, with respect to any day, the per ounce LBMA Silver Price as quoted in US dollars by the LBMA for Refined Silver on such day or the immediately preceding trading day if such day is not a trading day; provided that, if for any reason the LBMA is no longer in operation or if the price of Refined Silver is not calculated on behalf of or confirmed, acknowledged by, or quoted by the LBMA, the Silver Market Price shall be determined in the manner endorsed by the LBMA, failing which the Silver Market Price will be determined by reference to the price of Refined Silver on another commodity exchange satisfactory to Purchaser, acting reasonably.
Examples of Silver Market Price in a sentence
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.
More Definitions of Silver Market Price
Silver Market Price means, with respect to any day, the daily per ounce LBMA Silver Price in U.S. dollars quoted by the London Bullion Market Association (currently administered by the ICE Benchmark Administration) for Refined Silver on such day or, if such day is not a trading day, the immediately preceding trading day; provided that, if the LBMA Silver Price is no longer quoted by the London Bullion Market Association, the Silver Market Price shall be determined by reference to the price of Refined Silver in the manner endorsed by the London Bullion Market Association, failing which the Silver Market Price will be determined by reference to the price of Refined Silver on a commodity exchange mutually acceptable to the Seller and the Purchaser, acting reasonably.
Silver Market Price means, as of any Business Day, the price of a troy ounce of silver, stated in U.S. Dollars, as determined by ICE Benchmark Administration as the administrator of the London silver price selected by the LBMA (or any successor administrator of the London silver price), at or about 12:00 p.m., London, England time, as the “LBMA Silver Price” for such Business Day.”
Silver Market Price means, as of any Business Day, the price of a ▇▇▇▇ ounce of silver, stated in U.S. Dollars, as determined by ICE Benchmark Administration as the administrator of the London silver price selected by the LBMA (or any successor administrator of the London silver price), at or about 12:00 p.m., London, England time, as the “LBMA Silver Price” for such Business Day.”