Common use of Operations Reports Clause in Contracts

Operations Reports. At the same time as paying each Royalty payment under Section 3.2 or, if the Recipient has elected to receive the royalty in kind under Section 3.3, then by the last day of the month next following the end of each calendar Quarter, the Payor must provide to the Recipient a report setting out in reasonable detail the following information (“Operations Report”): 13.2.1 the quantity, type and grade of Products extracted during that Quarter; 13.2.2 the quantity, type and grade of Products that have been processed during that Quarter and the location of the relevant facilities; 13.2.3 the quantity, type and grade of all Products that have been Sold during that Quarter; 13.2.4 the quantity and type of Products held or unsold during that Quarter; 13.2.5 the quantity and type of Products that have been processed and are in a form that is saleable; 13.2.6 the Royalty for that Quarter and details of the Gross Proceeds (including details on the average monthly price determined as herein provided for refined metals and proceeds of Sale for other Products) and Allowable Deductions underlying the calculation of the Royalty; 13.2.7 the cumulative total of Royalty payments paid to the Recipient under this Royalty Agreement (including the payment under Subsection 5.2(f)); and 13.2.8 other pertinent information in sufficient detail to explain the calculation of the Royalty payment.