Retained Royalties Sample Clauses
The Retained Royalties clause defines the rights of a party to continue receiving royalty payments under certain conditions, even after other aspects of an agreement may have ended or changed. Typically, this clause specifies which royalties are preserved, the duration for which they are paid, and the circumstances under which they apply, such as after the termination of a license or sale of intellectual property. Its core function is to ensure that the original rights holder continues to benefit financially from the use or exploitation of their work, providing ongoing compensation and protecting their economic interests.
Retained Royalties. (a) (i) On the date hereof, Nevada JV and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ shall execute, acknowledge and deliver to Barrick a Net Smelter Returns Royalty Deed in the form attached as Schedule I-A with respect to the properties included in the Barrick Contributed Assets, and (ii) on the first day immediately following the execution and delivery of this Agreement, Nevada JV and Leeville Holdco shall execute, acknowledge and deliver to Newmont a Net Smelter Returns Royalty Deed in the form attached as Schedule I-B with respect to the properties included in the Newmont Contributed Assets (each a “Retained Royalty Deed”).
(b) If and when an Excluded Development/Exploration Property is contributed to Nevada JV by a Member or an Affiliate of such Member in accordance with Section 6.1, such Member, Nevada JV and the other grantor (i.e., either ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ or Leeville Holdco) under the Retained Royalty Deed to which such Member is a party shall amend such Retained Royalty Deed to: (i) include the contributed properties in the “Properties” that are subject to such Retained Royalty Deed, and (ii) increase the Threshold Amount as stated in such Retained Royalty Deed by the amounts of all mineral reserves (proven and probable) and mineral resources (measured, indicated and inferred) of gold and, if applicable, copper, if any, for such Excluded Development/Exploration Property, as stated in the most recent public filings of such Member’s Parent.
(c) If Nevada JV or any subsidiary of Nevada ▇▇ ▇▇▇▇▇, abandons or otherwise disposes of any Nevada JV property that is subject to a Retained Royalty Deed, then:
(i) such property shall cease to be subject to such Retained Royalty Deed;
(ii) the parties to such Retained Royalty Deed shall amend such Retained Royalty Deed to exclude such property;
(iii) the “Threshold Amount” as stated in such Retained Royalty Deed shall be reduced by (A) the amounts of all mineral reserves (proven and probable) and mineral resources (measured, indicated and inferred) of gold and copper, if applicable, if any, that were attributable to such property on the date of the Implementation Agreement for purposes of calculating such Threshold Amount (or, in the case of a contributed Excluded Development/Exploration Property, the date of its contribution in accordance with Section 6.1), less (B) the quantities of gold and, if applicable, copper that were produced by Nevada JV and its subsidiaries from such property and credited towards the Threshold Amount prior to the...
Retained Royalties. HP reserves and retains, for the benefit of itself and its Affiliates (and its and their successors and assigns), all rights to past, present, and future royalties and other consideration given or to be given in exchange for rights with respect to any Assignable Patent arising or accruing under agreements executed by HP or its Affiliates prior to the Closing Date. HP further reserves and retains all such royalties and other consideration arising out of or accruing under any license, sublicense, immunity or other right granted by HP or its Affiliates pursuant to Section 5.2. Intellectual Property Agreement