Common use of Exhibit G Clause in Contracts

Exhibit G. If either Party’s interest in the Property is converted to an interest in Net Returns, it will be entitled to receive as a nonparticipating, non-executive production royalty (the “Production Royalty”), 2.5% of the Net Returns from the sale of any valuable minerals extracted, produced and sold from the Claims. If PDUS or any successor or assign of PDUS is the Payor (as defined below), and the provisions of paragraph 1(d)(i)(B) below apply, the Production Royalty shall be 2.35% of the Net Returns. The Parties agree that in no event shall the percentage of Net Returns payable to MUI or PDUS plus the percentage of Net Returns (or net smelter returns) payable to any third party under the Existing Royalties or any other agreement exceed the equivalent of 5% of Net Returns, and that if the combined royalty burden on any portion of the Property exceeds the equivalent of 5% of Net Returns, the percentage of Net Returns payable to MUI or PDUS shall be reduced accordingly.

Appears in 2 contracts

Sources: Exploration and Development Agreement (Miranda Gold Corp), Exploration and Development Agreement (Miranda Gold Corp)