Common use of Royalty Statements Clause in Contracts

Royalty Statements. At the same time as paying each Royalty payment under Section 3.2, the Company must provide to the Royalty Holder a report setting out in reasonable detail the following information (“Royalty Statement”): (a) the quantity, type and grade of Metals extracted during that Quarter; (b) the quantity, type and grade of Product that has been processed during that Quarter and the location of the relevant facilities; (c) the quantity, type and grade of all Product that has been Sold during that Quarter; (d) the quantity and type of Product held or unsold during that Quarter; (e) the Royalty for that Quarter and details of the Gross Proceeds during the Quarter, details on the proceeds of Sale for underlying the calculation of the Royalty; and (f) other pertinent information in sufficient detail to explain the calculation of the Royalty payment.