Production Royalty definition
Production Royalty means the royalty payable on the Subject Minerals calculated as set forth in Section 2 below.
Production Royalty has the meaning given to such term in Schedule “B”; and
Production Royalty means the payments required to be paid pursuant to Article 7;
Examples of Production Royalty in a sentence
The Optionee will have a right of first refusal on the remaining one-point zero percent (1.0%) Net Smelter Returns Production Royalty.
More Definitions of Production Royalty
Production Royalty means the payments provided for in Section 4.02.
Production Royalty means the payments required to be paid pursuant to section 13;
Production Royalty means the production royalty of three percent (3%) of the Net Smelter Returns from the production of minerals from the Unpatented Mining Claims as they exist at the execution date of this Agreement and a production royalty of one percent (1 %) of the Net Smelter Returns from the production of minerals from the Area of Interest. Stone agrees to grant a Production Royalty in writing to the Vendor in the lands and interests acquired by Stone in the Area of Interest; and
Production Royalty means the "Production Royalty" payable ------------------ pursuant to and in accordance with the Royalty Deeds.
Production Royalty refers to the royalty payable by Lessee to Lessor subsequent to the expiration of the Primary Term for Salt Shipped or on the Minimum Tons of Salt to be Shipped.
Production Royalty and “Royalty” means the Net Smelter Returns Royalty stipulated in section 1.1 and further described in this Agreement.
Production Royalty payable herein with respect to this portion of the Property shall be paid to MCM only in the proportion which MCM's mineral interest bears to the whole and undivided mineral estate.
9. Option to Purchase 200 acres of the Surface of the Property
9.1 MCM grants to CAI during the term of this Agreement the exclusive, irrevocable option, exercisable at any time, to purchase up to a total of 200 acres of the surface estate of that portion of the Property described in Section 9.1 (a) below, together with all appurtenances and improvements, free and clear of all liens and encumbrances. CAI shall have the right to purchase these 200 acres in one or more transactions, dealing with one or more parcels of land, but each transaction must comprise at least fifty (50) acres of land. The purchase price and the terms and conditions of such purchase, or purchases, are provided in Exhibit "B", attached to this Agreement and by this reference incorporated herein.
a. That portion of the Property subject to CAI's option to purchase, described in Section 9.1 above, is described as the following lands situated in Pend Oreille County, State of Washington as follows: Sect▇▇▇ ▇, ▇▇▇ ▇▇ ▇, ▇▇▇ ▇▇ ▇ ▇nd Sect▇▇▇ ▇▇, ▇▇▇ ▇▇ ▇, ▇▇▇ ▇▇ ▇.