Return Statements Clause Samples

Return Statements. Each payment of the Return shall be accompanied by a detailed statement (a “Return Statement”) explaining the manner in which the payment was calculated and shall also include the following information: (i) settlement ounces (or other quantities in the case of Minerals other than gold) of all Quarterly Production; (ii) the prices used for the calculation of the Return; (iii) any Permissible Deductions applied to the Return; (iv) any other pertinent information in sufficient detail to explain the calculation of the payment, including information relating to commingling or Minerals, if any; and (v) such other information as the Payee may reasonably request. Such Return Statement shall be deemed conclusively correct if the Payee has not objected to it in writing within 12 months after receipt thereof.