Common use of Operations Reports Clause in Contracts

Operations Reports. At the same time as paying each Royalty payment under Section 3.2 the Optionee must provide to the Optionor a report setting out in reasonable detail the foLlowing information ("Operations Report"): (a) the quantity, type and grade of Products extracted during that Quarter; (b) the quantity, type and grade of Products that have been processed during that Quarter and the location of the relevant facilities; (c) the quantity, type and grade of all Products that have been Sold during that Quarter; (d) the quantity and type ofProduct held or unsold during that Quarter; (e) the Royalty for that Quarter and details of the Gross Revenue underlying the calculation of the Royalty; (f) the cumulative total of Royalty payments paid to the Optionor under this Agreement (including the payment under subsection 5.2(e)); and (g) other pertinent information in sufficient detail to explain the calculation of theRoyalty payment.