NET SMELTER RETURNS ROYALTY. 10.1 For the purposes of this Agreement, "net smelter returns" shall mean the net amount shown due by the smelter or other place of sale from the sale of mineral products, as indicated by its returns or settlement sheets, after payment of:
NET SMELTER RETURNS ROYALTY. 1. For the purposes of this Agreement the following words and phrases shall have the following meanings, namely:
NET SMELTER RETURNS ROYALTY. In addition to Claimholder's NPI, Claimholder hereby reserves a five (5%) percent net smelter returns royalty ("NSR Royalty") for all commodities produced. For purposes of this Agreement, the "net smelter return" is defined as the amount of money which the smelter or refinery, as the case may be, pays the Company for the commodity based on the then current spot price of the commodity, with deductions for costs associated with further processing but without deductions for taxes, calculated on an FOB mine site basis.
NET SMELTER RETURNS ROYALTY. 11.1 On the date Placer commences commercial production on the Property, Mr. Almarez shall be entitled to receive and Placer shall pay to Mr. Axxxxxx 0% xf Net Smelter Returns annually.
NET SMELTER RETURNS ROYALTY. 11.1 On the date [Placer] commences Commercial Production on the Property, [Mr. Almarez] shall be entitled to receive and [Placer] shall pay to [Mx. Xxxxxxx] 10% of Net Smelter Returns annually.
NET SMELTER RETURNS ROYALTY. 1. In the Agreement, “
NET SMELTER RETURNS ROYALTY. The Payor hereby grants to the Recipient an interest in and right to the Property and the minerals derived from the Property to the extent of the Royalty payable hereunder. The Payor hereby covenants to pay to the Recipient, the Royalty on all Products Sold on and subject to the terms of this Royalty Agreement.
NET SMELTER RETURNS ROYALTY. 6.1 On the date the Purchaser commences Commercial Production on the Claims, the Vendor shall be entitled to receive and the Purchaser shall pay to the Vendor 2% of Net Smelter Returns.
NET SMELTER RETURNS ROYALTY. 10.1 On the date Mobridge commences commercial production on the Claim, Laronde shall be entitled to receive and Mobridge shall pay to Laronde 3% of net smelter returns. "Commercial production" shall not include milling of ores for the purpose of testing or milling by a pilot plant or milling during an initial tune-up period of a plant.
NET SMELTER RETURNS ROYALTY. The Assignee hereby acknowledges that the Assignor has retained, out of the interest in the Assigned Property transferred by the Assignor to the Assignee hereunder, and acknowledges itself bound by and hereby covenants to pay to the Assignor, a two percent (2%) Net Smelter Returns Royalty. It is hereby acknowledged and agreed by the parties that their mutual intent is that the Net Smelter Return Royalty is not be contractual only, but is to be an interest in land and a burden on, and to bind and run with, the Assigned Properties and the lands subject thereto, and the Assignee covenants and agrees with the Assignor that the Assignee will, at the request of the Assignor, enter into a separate agreement with respect to the Net Smelter Return Royalty which agreement will be recorded against such mining lease(s) as an interest in land. The Net Smelter Royalty is in lieu and not in addition to the 2% net smelter royalty specified in that certain assignment of Purchase Option Agreement dated January 26, 2004 between Assignor and Cardinal Minerals, Inc., which 2% royalty is null and void.
