Common use of Production of Electrical Energy Clause in Contracts

Production of Electrical Energy. The Royalty rate for the use of Geothermal Resources to produce electrical energy shall be 3.5% of the gross revenues from the availability, sale or use of electricity from an electrical power generating plant built on or utilizing Geothermal Resources from the Property, including revenues for bonuses, capacity or any other purpose arising from or relating to Lessee's production of Geothermal Resources or the generation of electrical energy on the Property. If other lands are pooled or unitized with the Property, then the Royalty rate for electrical production attributable to the property shall stay 3.5% and shall not be blended or otherwise affected by the royalty rates of other lands pooled or unitized with the Property.

Appears in 3 contracts

Samples: Geothermal Lease Agreement (Nevada Geothermal Power Inc), Stabb Geothermal Lease Agreement (Nevada Geothermal Power Inc), Stabb Geothermal Lease Agreement (Nevada Geothermal Power Inc)

AutoNDA by SimpleDocs

Production of Electrical Energy. The Royalty rate for the use of Geothermal Resources to produce electrical energy shall be 3.5% three percent (3%) of the gross revenues from the availability, sale or use of electricity from an electrical power generating plant built on or utilizing Geothermal Resources from the Property, including revenues for bonuses, capacity or any other purpose arising from or relating to Lessee's ’s production of Geothermal Resources or the generation of electrical energy on the Property. If other lands are pooled or unitized with the Property, then the Royalty rate for electrical production attributable to the property shall stay 3.5% three percent (3%) and shall not be blended or otherwise affected by the royalty rates of other lands pooled or unitized with the Property.

Appears in 2 contracts

Samples: Geothermal Lease Agreement (Nevada Geothermal Power Inc), Geothermal Lease Agreement (Nevada Geothermal Power Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!