Reserved Royalty Clause Samples
Reserved Royalty. (1) To pay lessor a three percent (3%) royalty on all ores, minerals or products (herein called "Production") mined and removed from the Leased Premises. Said royalty shall be calculated based upon the gross value of the Production. In the event Production is removed from the Leased Premises and stockpiled, royalty shall be payable six(6) months after removal and the gross value shall be deemed the highest value received for comparable material sold from the Leased Premises or from the nearest mine or property to the Leased Premises.
(2) Production royalty shall be paid within thirty (30) days after receipt of payment for each shipment or when otherwise due, and each payment shall be accompanied by a statement showing the date(s) of shipment(s), quantity and value of each shipmer~, to whom sold and the gross value received, and any cost deductions. Production royalty payments not made when due shall bear interest at the rate of I 1/2% per calendar month or fraction thereof until paid in full.
(3) Method of Production royalty payments shall be in U.S. dollars payable by cash or valid check drawn on available funds, and shall be deemed made when deposited at Lessor's single depository at: FIRST UTAH BANK ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ phone (▇▇▇) ▇▇▇-▇▇▇▇ Lessor may change its single depository at any time by giving written notice to Lessee.
Reserved Royalty. Optionor reserves a 1% Net Smelter Return (“NSR”) royalty in the Properties in the event that the option is exercised (the “▇▇▇▇▇▇▇ Royalties”). In each case the NSR royalty shall be calculated and paid on the same basis as set forth in the underlying Lease affecting the claims on which production is taking place.
Reserved Royalty. The Licensee shall pay to Licensor a royalty as indicated in Schedule F attached hereto annually on the Gross Selling Price of Royalty-Based Services from the practice of the Licensed Patents and Proprietary Technology by the Licensee under the license granted under Section 2 of this Agreement.
Reserved Royalty. Buyer shall pay Seller a royalty of $10 per short ton of Product produced from the Claims and sold by Buyer (“Reserved Royalty”). The Reserved Royalty shall be expressly reserved in the Deed, described above and attached hereto as Exhibit D.
Reserved Royalty. Each Participant acknowledges the existence of the Reserved Royalty in favour of Frontier and agrees, upon earning an interest in a Prospect, to execute the Reserved Royalty Agreement in respect of such Prospect.
Reserved Royalty. Echo Bay shall reserve a 2% NSR Royalty on all minerals produced from the Property conveyed at Closing, all as more specifically described in the Special Warranty Deed attached hereto as Exhibit “B”.
Reserved Royalty. (a) Upon the successful transfer of title from the Owner to CANADIANA, CANADIANA shall pay to the Owner an aggregate production royalty of two percent (2%) of the net smelter returns (the "NET SMELTER RETURNS") from all ores, minerals or other products mined and removed from the Property and sold by CANADIANA, as set forth on Schedule "A" attached hereto and made a part hereof (the "RESERVED ROYALTY").
(b) Provided however, in the event that less than two million (2,000,000) ounces of proven and probable reserves are discovered in or on the Property, then the Reserved Royalty shall be one percent (1%) of the Net Smelter Returns.
Reserved Royalty. Upon receipt of the purchase price, as specified in Paragraph 2 above, DWC shall convey the Property to Goldspring by way of a Quitclaim Deed, free and clear of liens and encumbrances. The Deed shall reserve to DWC a quarterly royalty on production which shall vary in accordance with the average price of gold for the proceeding calendar quarter, as follows: Goldspring, Inc. August 12, 2008 Gold Price / Ounce Pre-Production Royalty Royalty Paid on Production (“Net Smelter Return”) Total NSR Royalty $250.00 or less 1 % 1 % 2 % $251.00 to $500.00 1.5 % 1.5 % 3 % $501.00 to $750.00 2 % 3 % 5 % $751.00 or over 3 % 3 % 6 % Pre-production royalties shall be paid upon verification of a mineable resource by an accredited third party engineer. The term “net smelter returns” shall be defined in accordance with Nevada standards. Goldspring expressly acknowledges the above royalties shall be exclusive of the 1% NSR royalty retained by ▇▇▇ ▇▇▇▇▇▇ to be paid by GoldSpring from production.