Option to Purchase Gold Royalty Interest Sample Clauses

Option to Purchase Gold Royalty Interest. From time-to-time, at any time during the term of this Agreement, Lessee shall have the right to purchase one and one half (1½) “points” of Owner’s gold production royalty, each one and one half (1½) “points” being equivalent to 1.5% of net smelter returns. The purchase price for each royalty “point” shall be as follows: Average Price of Gold for Preceding 30 Days Price Per Royalty “Point” $300.00 per ounce and lower $1,500,000.00 $300.01 to 400.00 per ounce $2,000,000.00 $400.01 to 500.00 per ounce $3,000,000.00 $500.01 to 600.00 per ounce $4,000,000.00 $600.01 to 700.00 per ounce $5,000,000.00 $700.01 to 800.00 per ounce $6,000,000.00 $800.01 to 900.00 per ounce $7,000,000.00 This same formula shall be followed to calculate the Price Per Royalty “Point” for additional increase in the gold price. Under no circumstance can Owner’s royalty be reduced below one percent (1%) of net smelter returns. Lessee will deliver notice of its intention to purchase one and one half (1½) points to Owner, and the parties will exchange the purchase price and deed for the royalty point(s) within fifteen (15) days following Lessee’s notice to Owner. Lessee shall have the option to make purchase production royalty points either in cash, or a combination of up to 50% in common shares of Lessee and the balance in cash, in a manner as provided for in 1.2c above.
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Option to Purchase Gold Royalty Interest. From time-to-time, at any time during the term of this Agreement, Lessee shall have the option to purchase a maximum of two “points” of Owner’s three (3%) percent gold production royalty, thereby reducing Owner’s gold production royalty to one (1%)percent. Each “point” is equivalent to 1% of net smelter returns. The purchase price for each royalty “point” shall be as follows: Average Price of Gold for Preceding 30 Days Price Per Royalty “Point” $300.00 per ounce and lower $2,000,000.00 $300.01 to 400.00 per ounce $2,500,000.00 $400.01 to 500.00 per ounce $3,000,000.00 $500.01 to 600.00 per ounce $4,000,000.00 $600.01 to 700.00 per ounce $5,000,000.00 $700.01 to 800.00 per ounce $6,000,000.00 $800.01 to 900.00 per ounce $7,000.,000.00 Lessee shall have the right to purchase less than a full royalty “point,” at a pro-rata price. This same formula shall be followed to calculate the Price per Royalty “Point” for additional increase in the gold price. Under no circumstance can Owner’s royalty be reduced below one percent (1%) of net smelter returns. Lessee will deliver notice of its intention to purchase an interest in Owner’s royalty, and the parties will exchange the purchase price and deed for the royalty interest purchased within fifteen (15) days following Lessee’s notice to Owner.

Related to Option to Purchase Gold Royalty Interest

  • Production Royalty The amount of the Royalty shall be determined at the end of each month after the Effective Date. The Royalty shall be determined monthly on the basis such that payments will be determined as of and paid within thirty (30) days after the last day of each month during which Lessee produces any Geothermal Resources. The Royalty rates shall be determined as follows:

  • Payment of Royalty Client will pay to Yanbor a royalty which shall be calculated as follows: Term “licensed period” means the period of one year started when the Agreement is signed or renews. The first license period starts on the day of the Agreement is signed. $0 shall be paid when the Agreement is signed and renews for the next licensed period and $1,000 shall be paid for each installment of OUReports by Client for each instance of Client database/namespace during licensed period. With each royalty payment, Client will submit to Xxxxxx the written report that sets forth the calculation of the amount of the royalty payment.

  • License grant from sellers to PayPal Notwithstanding the provisions of the prior paragraph, if you are a seller using the PayPal services to accept payments for goods and services, you hereby grant PayPal a worldwide, non-exclusive, transferable, sublicensable (through multiple tiers), and royalty-free, fully paid-up, right to use and display publicly, during the term of this user agreement, your trademark(s) (including but not limited to registered and unregistered trademarks, trade names, service marks, logos, domain names and other designations owned, licensed to or used by you) for the purpose of (1) identifying you as a merchant that accepts a PayPal service as a payment form, and (2) any other use to which you specifically consent.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Royalty Licensee shall pay Licensor a royalty equal to the Royalty Rate times Net Sales.

  • Payment of Royalties To the best of Seller’s knowledge, all royalties and in-lieu royalties with respect to the Assets which accrued or are attributable to the period prior to the Effective Time have been properly and fully paid, or are included within the suspense amounts being conveyed to Buyer pursuant to Section 11.4.

  • Notice of Sales of Oil and Gas Properties In the event the Borrower or any Subsidiary intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties or any Equity Interests in any Subsidiary in accordance with Section 9.12, prior written notice of such disposition, the price thereof and the anticipated date of closing and any other details thereof requested by the Administrative Agent or any Lender.

  • Reports; Payment of Royalty During the term of this Agreement following the first commercial sale of a Product, MERCK shall furnish to PROTIVA a quarterly written report for the calendar quarter showing the Net Sales of all Products subject to royalty payments sold by MERCK and its Affiliates in the Territory during the reporting period and the royalties payable under this Agreement. Reports shall be due on the [*] day following the close of each calendar quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royalty report is due. MERCK shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

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