Examples of Commercial Production in a sentence
Upon the commencement of Commercial Production, XRI shall pay to EPL a royalty equal to 2% of the Net Smelter Returns with respect to the Property, on the terms set out in Schedule “B” (the “NSR Royalty”), provided that one half (1/2) of the NSR Royalty may be bought down at any time upon payment to EPL of $2,000,000 (for a remaining net NSR Royalty of 1%).
If and when the spot price of uranium (U308 ) is greater than US$130, from and after Commercial Production, the Corporation shall pay to the Royalty Holder a production payment royalty in the amount of one percent (1%) of the Gross Value of the Products produced at and sold from the Elliot Lake Property.
Total Royalty Due* Total CWT Seed Sold, Transferred or Used For Commercial Production (Select Territory Where Variety was Grown) Wisconsin Other US (Outside WI) Annual Royalty Rate = $0.35/CWT Annual Royalty Rate = $0.50/CWT Potato Variety Acres Planted *To be paid within 30 days of June 30th of each year.