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:
Production Royalty. Lessee shall pay to Owner a production royalty equal to three percent (3%) of the Net Smelter Returns from the production or sale of Minerals from the Property. The Lessee shall pay the Royalty within one month after the last day of each month during which Lessee sells or ships any Minerals, materials or ores. Lessee shall have the option to purchase one third of the Royalty representing a one percent (1%) Net Smelter Return Royalty, for one million dollars ($1,000,000.00), in accordance with the terms of the conveyance to be executed and delivered in accordance with the terms set out in the “Sub-Lease”. Lessee may exercise its option to purchase such part of the Royalty at any time during the term of this Agreement.
Production Royalty. 4.1 In addition to the consideration set forth herein, Lessee shall pay Lessor a Three and One Half percent (3.5%) Net Smelter Royalty on all mineral bearing ores.
Production Royalty. Grantor shall pay to Newmont a perpetual Production Royalty in an amount equal to the applicable percentage of Net Smelter Returns (defined below) set forth in this Section 2 from the sale or other disposition of all Minerals produced from the Property, determined in accordance with the provisions set forth in this Deed:
Production Royalty. The Royalty Deed will provide that Grantor shall pay to Grantee a perpetual royalty, determined in accordance with this Schedule E, in an amount equal to 1.50% of Net Smelter Returns (the “Royalty Percentage”) from all Product produced from the Royalty Property.
Production Royalty. A production royalty on Leased Minerals which shall be Two Dollars and 50 Cents per ton ($2.50/ton) of ore removed from or mined and processed upon the Leased Property. The Production Royalty will be applied towards the annual minimum royalty of $5,000.00 on an annual basis.
Production Royalty. The Production Royalty provided for in Section 2.2 of the Agreement and payable to Lessor shall be based upon: (a) the value of dor´e produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such dor´e, sold or deemed sold, determined by reference to published prices for refined gold and silver and other Precious Metals (as hereinafter defined), and (b) the value of all other Products produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such Product, sold or deemed sold, determined by reference to published prices for such “Other Products” all as hereinafter provided. It is acknowledged that it will be necessary to process, treat or upgrade Precious Metals or Other Products at a location or locations not on the Property before they are sold or deemed to be sold; and that to determine the value of such Precious Metals or Other Products of the Property or other facility producing dor´e or Other Products, all costs incurred or deemed to be incurred by Miranda in paying the Production Royalty with respect to the transporting, processing, treatment or upgrading of the Precious Metals or Other Products after they have been processed shall be deducted from the proceeds received or deemed to be received by Miranda as hereinafter set forth. Miranda shall pay to Lessor a Production Royalty as set forth in Section 2.2 of the Agreement as a percentage of the Net Value (as hereinafter defined) of Precious Metals or Other Products mined, removed and sold (or deemed sold as hereinafter described) from the Property. For purposes of this Agreement, the term “
Production Royalty. TOGI shall pay to Owner a production royalty based on the Net Smelter Returns from the production or sale of Minerals from the Property. The Royalty percentage rate for the Property shall be four percent (4%) of the Net Smelter Returns. The Royalty percentage rate for the production of Minerals from any unpatented mining claims located by TOGI or Owner outside the exterior boundaries of the Property and within the Area of Interest shall be four percent (4%) of the Net Smelter Returns and the Royalty percentage rate for the production of Minerals from any mineral rights, mining claims outside the exterior boundaries of the Property and within the Area of Interest which TOGI acquires from any third party shall be one percent (1%) of the Net Smelter Returns (the "Area of Interest Royalty"). TOGI shall have the option to acquire the royalty (the "Royalty Option") in accordance with Section. TOGI shall have the option to purchase one-half (1/2) of the Royalty applicable to the Property representing two percent (2%) of the Net Smelter Returns. TOGI shall have the right to elect to purchase such part of the Royalty in increments representing one percent (1%) of the Net Smelter Returns and the purchase price for each such increment shall be One Million Five Hundred Thousand Dollars ($1,500,000). TOGI shall have the option to purchase one-half (1/2) of the Area of Interest Royalty applicable to mineral rights, mining claims and properties which TOGI acquires from third parties representing one-half percent (.5%) of the Net Smelter Returns. The purchase price for such part of the Area of Interest Royalty shall be Five Hundred Thousand Dollars ($500,000) for the one-half percent (.5%) of the Area of Interest Royalty applicable to mineral rights, mining claims and properties which TOGI acquires from any third party.
Production Royalty. Subject to Section 7 of this Agreement, TRC agrees to pay to Owner, as a production royalty (the “Royalty”), Three Percent (3%) of the Net Smelter Returns (gold equivalent) (defined in Section 6.2) upon all Minerals mined and removed from the Property. Notwithstanding any provision of this Agreement to the contrary, the Royalty shall be payable only with respect to Minerals that are ultimately and actually recovered and for which TRC receives payment or consideration. TRC shall have no obligation to pay any Royalty whatsoever on Minerals extracted from the Property for testing purposes, including without limitation for bulk samples, assays, geochemical analyses, amenability to milling and recovery determinations, pilot plant tests and test trommel operations unless and until the same are subsequently sold.
Production Royalty. The Production Royalty payable with respect to the Subject Minerals from the Premises shall be determined and calculated as follows:
