Gold Loan Facility Payment Amount means, in relation to any Gold Loan Facility Payment Date, the Canadian Dollar Equivalent Amount of the amount which is the product of the Notional Amount of Gold Ounces multiplied by the Composite Closing Value of Gold as at the Relevant Time on the Calculation Date for such Gold Loan Facility Payment Date.
The Borrower shall pay to the Agent for the rateable benefit of the Gold Loan Facility Lenders such Gold Loan Facility Payment Amount on the Gold Loan Facility Payment Date in accordance with Section 3.6.
Subject to Section 6.4 and Section 6.8 below, on the day (the "Calculation Date") which is the Banking Day immediately preceding each Gold Loan Facility Payment Date, the Agent shall calculate the Gold Loan Facility Payment Amount as at the Relevant Time on such Calculation Date and shall immediately deliver notice of such Gold Loan Facility Payment Amount to the Borrower.