Common use of For Gold Bullion Clause in Contracts

For Gold Bullion. Net Smelter Returns," for gold produced from the Royalty Property, and refined by or for Grantor to a form that meets good delivery standards in the London Bullion Market or comparable terminal market ("Gold Bullion"), will be determined by multiplying (i) the gross number of xxxx ounces of Gold Bullion produced from the Royalty Property, and returned to or credited to Grantor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter, by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to the Administrative Agent, acting reasonably) calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section 4(a) below.

For Gold Bullion. “Net Smelter Returns," ” for gold produced from the Royalty Property, and refined by or for Grantor to a form that meets good delivery standards in the London Bullion Market or comparable terminal market ("“Gold Bullion"”), will be determined by multiplying (i) the gross number of xxxx txxx ounces of Gold Bullion produced from the Royalty Property, and returned to or credited to Grantor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter, by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to the Administrative Agent, acting reasonably) calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section 4(a) below.

For Gold Bullion. Net Smelter Returns," for gold produced from the Royalty Property, and refined by or for Grantor to a form that meets good delivery standards in the London Bullion Market or comparable terminal market ("Gold Bullion"), will be determined by multiplying (i) the gross number of xxxx ounces of Gold Bullion produced from the Royalty Property, and returned to or credited to Grantor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter, by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to the Administrative AgentGrantee, acting reasonably) calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section 4(a) below.

For Gold Bullion. “Net Smelter Returns," ” for gold produced from the Royalty Property, and refined by or for Grantor to a form that meets good delivery standards in the London Bullion Market or comparable terminal market ("“Gold Bullion"”), will be determined by multiplying (i) the gross number of xxxx txxx ounces of Gold Bullion produced from the Royalty Property, and returned to or credited to Grantor or purchased and paid for by a smelter, refiner, processor, purchaser or other recipient of such bullion during a calendar quarter, by (ii) the arithmetic average of the London Bullion Market Association P.M. Fixing Price (in United States dollars) reported on its website for Gold Bullion for the calendar quarter (or should such quotation cease, another similar quotation acceptable to the Administrative AgentGrantee, acting reasonably) calculated by summing the quoted prices reported for each day of the calendar quarter and dividing the sum by the number of days for which such prices were reported, and (iii) by deducting from the product of (i) times (ii), the Allowable Deductions permitted in Section 4(a) below.