Minimum Advance definition
Examples of Minimum Advance in a sentence
The Minimum Advance Royalty shall be paid for so long as this Lease is in force and without regard to mining, production or sale of minerals on or from the claims.
The Minimum Advance requirement does not apply to interest accrued.
All cumulative Minimum Advance Royalty payments paid by Lessee to Lessor under this Lease will be credited against any Production Royalty due Lessor under section B of this Article V and any Production Royalty due Lessor after purchase of the claims under Article XXVIII.
Lessee shall have as a credit against the purchase price all Production Royalty payments paid by Lessee to Lessor, except that the credit shall not include Minimum Advance Royalty payments which have not been recouped by Lessee from the payment of Production Royalty payments.
Upon termination, all right, title and interest of Lessee under this Agreement shall terminate and Lessee shall not be required to make any further Minimum Advance Royalty payment, the due date of which would otherwise occur on any date following date of termination and Lessee shall be relieved of work obligations, subject to Articles IIB.5 and IIIA.