Common use of RWC Clause in Contracts

RWC. This Lease shall be for a term of xxxxxx30 years from the date hereof (herein called "Primary Term") and so long thereafter as Geothermal Resources or Extractable Minerals are being produced in commercial quantities or drilling operations are conducted either on the Leased Land or on land pooled therewith; all subject to the following terms and conditions: 1. Lessee shall pay to the Lessor on or before the last day of the calendar month after the month of commencement of production in commercial quantities of Geothermal Resources or Extractable Minerals or both and thereafter on a monthly basis: (a) A royalty of ***% of the value of the *** produced from the Leased Land or allocated thereto; and (b) A royalty of ***% of the value of the *** produced from the Leased Land or allocated thereto. It is agreed that "value" shall be deemed to be the gross proceeds from the sale of the Geothermal Resources or Extractable Minerals, or, if not sold, their fair market value at the well head if they are used by the Lessee for commercial purposes other than in the producing or processing of other Geothermal Resources or Extractable Minerals. If the Lessee elects to process any Extractable Minerals prior to sale, then the Lessor's royalty shall bear its proportionate share of the cost of such processing. 2. Lessee has paid to Lessor the rental in full for a period of one (1) year from the date hereof. Commencing with the second year of the term hereof and on each anniversary date thereafter during the Primary Term, if during the preceding year Lessee has not conducted drilling operations on or if there was no production from the Leased Land or land pooled therewith then, subject to the provisions of paragraph 4 hereof, Lessee shall pay or tender to Lessor annually, in advance, as rental, the sum of See Exhibit "B" (Par.

RWC. This Lease shall be for a term of xxxxxx30 years from the date hereof (herein called "Primary Term") and so long thereafter as Geothermal Resources or Extractable Minerals are being produced in commercial quantities or drilling operations are conducted either on the Leased Land or on land pooled therewith; all subject to the following terms and conditions: 1. Lessee shall pay to the Lessor on or before the last day of the calendar month after the month of commencement of production in commercial quantities of Geothermal Resources or Extractable Minerals or both and thereafter on a monthly basis: (a) A royalty of ***% of the value of the *** Geothermal Resources produced from the Leased Land or allocated thereto; and (b) A royalty of ***% of the value of the *** Extractable Minerals produced from the Leased Land or allocated thereto. It is agreed that "value" shall be deemed to be the gross proceeds from the sale of the Geothermal Resources or Extractable Minerals, or, if not sold, their fair market value at the well head if they are used by the Lessee for commercial purposes other than in the producing or processing of other Geothermal Resources or Extractable Minerals. If the Lessee elects to process any Extractable Minerals prior to sale, then the Lessor's royalty shall bear its proportionate share of the cost of such processing. 2. Lessee has paid to Lessor the rental in full for a period of one (1) year from the date hereof. Commencing with the second year of the term hereof and on each anniversary date thereafter during the Primary Term, if during the preceding year Lessee has not conducted drilling operations on or if there was no production from the Leased Land or land pooled therewith then, subject to the provisions of paragraph 4 hereof, Lessee shall pay or tender to Lessor annually, in advance, as rental, the sum of See Exhibit "B" (Par.