Minerals definition
Examples of Minerals in a sentence
The Royalty payable on Precious Metals or other Minerals subject to Hedging Activities shall be determined in the same manner as provided in this Section 3 and Sections 4 and 5, with the understanding that the Precious Metals or other Minerals subject to Hedging Activities shall be deemed to be part of Monthly Production, with the Monthly Average Gold Price, Monthly Average Silver Price or Monthly Average COMEX Price, as applicable, for such month being used in the calculation of the Royalty.
Such First Payment and the amount of Refined Gold, Refined Silver or cash, as the case may be, shall be determined with respect to the Royalty from Minerals produced from the Property from and after the Effective Date (including with respect to Minerals extracted prior to that date).
For greater certainty, such increase is an adjustment to and forms part of the Royalty, which is a real property right and a covenant running with the land and applies to all Minerals produced from the Property from and after such effective time.
The Payors shall use all commercially reasonable efforts to ensure that all Minerals from the Property will be processed in a prompt and timely manner.
The Payors shall ensure that each shipment of Minerals is adequately insured in such amounts and with such coverage as is customary in the mining industry, until the time that ▇▇▇▇ of loss and damage for such Minerals is transferred to the Third Party Payor.