Rentals, Shut-in Well Payments and Minimum Royalties Sample Clauses

Rentals, Shut-in Well Payments and Minimum Royalties. Rentals, shut-in well payments and minimum royalties which may be required under the terms of any of the Leases shall be paid by the Parties at their expense; provided, however, that Operator shall, to the extent available, pay same with that portion of the Remaining Escrow Funds allocated under the Option Agreement’s “part one work plan” for payment of such royalties. The Parties may designate one of the Parties to make the payments for and on behalf of all the Parties. Any Party may request, and shall be entitled to receive, proper evidence of all the payments. In the event of failure to make proper payment of any rental, shut-in well payment, or minimum royalty through mistake or oversight where the payment is required to continue the Lease in force, any loss which results from the non-payment shall be borne in accordance with the provisions of Article IV.B.2. Operator shall notify Non-Operators of the anticipated completion of a shut-in well, or the shutting in or return to production of a producing well, at least five (5) days (excluding Saturday, Sunday, and legal holidays) prior to taking that action, or at the earliest opportunity permitted by circumstances, but assumes no liability for failure to do so. In the event of failure by Operator to notify Non-Operators, the loss of any Lease for failure to make timely payments of any shut-in well payment shall be borne jointly by the Parties under the provisions of Article IV.B.3.
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Rentals, Shut-in Well Payments and Minimum Royalties. 49 Rentals, shut-in, well payments and minimum royalties which may be required under the terms of any lease shall be paid by the Operator for the joint account of the parties. In the event two or more parties own and have contributed interests in the same lease to this agreement such parties may designate one of such parties to make said payments for and on behalf of all such parties. Any party may request and shall be entitled to receive, proper evidence of all such payments, hi the event of failure to make proper payment of any rental, shut-in well payment or minimum royalty through mistake or oversight where such payment is required to continue the lease in force, any loss which results from such non-payment shall be borne in accordance with the provisions of Article IVJB.2. 56 Operator shall notify Non-Operators of the anticipated completion of a shut-in well, or the shutting in or return to production of a producing well, at least five (5) days (excluding Saturday, Sunday, and legal holidays) prior to taking such action, or at the earliest opportunity permitted by circumstances, but assumes no liability for failure to do so. In the event of failure by Operator to so notify Non-Operators, the loss of any lease contributed hereto by Non-Operators for failure to make timely payments of any shut-in well payment shall be borne jointly by the parties hereto under the provisions of Article TVB3.
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Rentals, Shut-in Well Payments and Minimum Royalties. Each Party shall be responsible for paying its Participating Interest Share of (a) all rentals, shut-in well payments, minimum royalties, additional bonus payments and any other payments necessary to renew, maintain or extend the Oil and Gas Interests included in the Joint Assets and (b) all royalties, overriding royalties, production payments and other burdens required to be paid to lessors and holders of those burdens attributable to the Oil and Gas Interests included in the Joint Assets. Neither Party shall be liable to the other for any act or omission pertaining to the types of payments described in this Section 2.7 or any loss resulting from such act or omission. Each Party may determine, in its reasonable discretion, not to renew, maintain or extend any of the Oil and Gas Interests included in the Joint Assets and, in such case, shall provide the other Party not less than thirty (30) days’ notice in writing of such decision prior to the expiration of any such Oil and Gas Interest, and the other Party shall have the right, at its sole cost and expense, to renew, maintain or extend such Oil and Gas Interest and to direct such first Party to promptly assign to the other Party, at no cost to the other Party and pursuant to the Form of Assignment, such first Party’s Participating Interest Share of such Oil and Gas Interest. Upon such assignment, notwithstanding anything contained in this Agreement to the contrary, such Oil and Gas Interest shall be deemed to be excluded from the terms and conditions of this Agreement, unless and to the extent such Oil and Gas Interest is subject to an Applicable Operating Agreement in which case such Oil and Gas Interest shall remain subject thereto and the interests of the Parties in the Applicable Contract Area shall be adjusted to reflect such assignment.
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Rentals, Shut-in Well Payments and Minimum Royalties a. Rentals, shut-in well payments and minimum royalties which may be required under the terms of any lease shall be paid by the Operator. Any party may request, and shall be entitled to receive, proper evidence of all such payments.
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Rentals, Shut-in Well Payments and Minimum Royalties. All rentals, shut-in well payments and minimum royalties which may be required under the terms of any Gas Lease subject to the Operating Agreement.
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Rentals, Shut-in Well Payments and Minimum Royalties. Rentals, shut-in well payments, free gas and minimum royalties which may be required under the terms of any lease for any well shall be paid as a working interest owner expense from Production.
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Related to Rentals, Shut-in Well Payments and Minimum Royalties

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Minimum Royalty At the beginning of each calendar year during the term of this Agreement, beginning January 1, 2016, Company shall pay to Medical School a minimum royalty of {***}. If the actual royalty payments to Medical School in any calendar year are less than the minimum royalty payment required for that year, Company shall have the right to pay Medical School the difference between the actual royalty payment and the minimum royalty payment in full satisfaction of its obligations under this Section, provided such minimum payment is made to Medical School within sixty (60) days after the conclusion of the calendar year. Waiver of any minimum royalty payment by Medical School shall not be construed as a waiver of any subsequent minimum royalty payment. If Company fails to make any minimum royalty payment within the sixty-day period, such failure shall constitute a material breach of its obligations under this Agreement, and Medical School shall have the right to terminate this Agreement in accordance with Section 8.3.

  • Earned Royalties GEN-PROBE shall pay to PHRI an earned royalty for each sale of a Licensed Kit. GEN-PROBE shall also pay to PHRI an earned royalty for each performance of a Licensed Assay (other than an Assay performed by a customer using a Licensed Kit). The earned royalty for each Licensed Kit and each Licensed Assay shall be determined according to the remainder of this section.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Payments and Royalties 6.1 RIGEL shall upon the Effective Date:

  • Payment of Royalties To the best of Seller’s knowledge, all royalties and in-lieu royalties with respect to the Assets which accrued or are attributable to the period prior to the Effective Time have been properly and fully paid, or are included within the suspense amounts being conveyed to Buyer pursuant to Section 11.4.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

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