ALPART INVENTORY

ALPART INVENTORY. Means the change from January 1, 2004 through the Alpart Closing in the value of alumina that would be exchanged by Hydro Aluminum Jamaica a.s. and AJI and KJC, to result in the amounts of alumina inventory at Alpart indirectly owned by Hydro Aluminum Jamaica a.s. and AJI and KJC being in the percentages of 35% and 65%, respectively ("Partnership Ratios"). The value of alumina will be based on the average of the three preceding months' production charges multiplied by the excess or shortfall in... tonnage to achieve the Partnership Ratios. See Exhibit B for an illustrative example. View More