Deemed Sale

Deemed Sale. Of Products shall mean any of the following: i.Any sale to an Affiliate; ii.Any case in which Spartan does not sell the Products to a smelter, refiner or other processor and instead retains ownership of the Products after they have been smelted, refined or otherwise processed into a salable product for a period of more than thirty (30) days; or iii. Any transaction where the Products are the subject of forward sales, futures trading, and commodities options trading or other price... protection or speculative arrangements. iv. Sale or assignment of the Agreement or rights therein or the granting of overriding or other royalties or payments based on production of Products shall not constitute a Deemed Sale of Products giving rise to Net Smelter Returns or the duty to pay royalty thereon. View More