Reserved Royalty Clause Examples

Reserved Royalty. (1) To pay lessor a three percent (3%) royalty on all ores, minerals or products (herein called "Production") mined and removed from the Leased Premises. Said royalty shall be calculated based upon the gross value of the Production. In the event Production is removed from the Leased Premises and stockpiled, royalty shall be payable six(6) months after removal and the gross value shall be deemed the highest value received for comparable material sold from the Leased Premises or from the nearest mine or property to the Leased Premises. (2) Production royalty shall be paid within thirty (30) days after receipt of payment for each shipment or when otherwise due, and each payment shall be accompanied by a statement showing the date(s) of shipment(s), quantity and value of each shipmer~, to whom sold and the gross value received, and any cost deductions. Production royalty payments not made when due shall bear interest at the rate of I 1/2% per calendar month or fraction thereof until paid in full. (3) Method of Production royalty payments shall be in U.S. dollars payable by cash or valid check drawn on available funds, and shall be deemed made when deposited at Lessor's single depository at: FIRST UTAH BANK ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ phone (▇▇▇) ▇▇▇-▇▇▇▇ Lessor may change its single depository at any time by giving written notice to Lessee.
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Reserved Royalty. Optionor reserves a 1% Net Smelter Return (“NSR”) royalty in the Properties in the event that the option is exercised (the “▇▇▇▇▇▇▇ Royalties”). In each case the NSR royalty shall be calculated and paid on the same basis as set forth in the underlying Lease affecting the claims on which production is taking place.
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Reserved Royalty. The Licensee shall pay to Licensor a royalty as indicated in Schedule F attached hereto annually on the Gross Selling Price of Royalty-Based Services from the practice of the Licensed Patents and Proprietary Technology by the Licensee under the license granted under Section 2 of this Agreement.
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Reserved Royalty. Buyer shall pay Seller a royalty of $10 per short ton of Product produced from the Claims and sold by Buyer (“Reserved Royalty”). The Reserved Royalty shall be expressly reserved in the Deed, described above and attached hereto as Exhibit D.
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Reserved Royalty. Each Participant acknowledges the existence of the Reserved Royalty in favour of Frontier and agrees, upon earning an interest in a Prospect, to execute the Reserved Royalty Agreement in respect of such Prospect.
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Reserved Royalty. Echo Bay shall reserve a 2% NSR Royalty on all minerals produced from the Property conveyed at Closing, all as more specifically described in the Special Warranty Deed attached hereto as Exhibit “B”.
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Reserved Royalty. (a) Upon the successful transfer of title from the Owner to CANADIANA, CANADIANA shall pay to the Owner an aggregate production royalty of two percent (2%) of the net smelter returns (the "NET SMELTER RETURNS") from all ores, minerals or other products mined and removed from the Property and sold by CANADIANA, as set forth on Schedule "A" attached hereto and made a part hereof (the "RESERVED ROYALTY"). (b) Provided however, in the event that less than two million (2,000,000) ounces of proven and probable reserves are discovered in or on the Property, then the Reserved Royalty shall be one percent (1%) of the Net Smelter Returns.
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Reserved Royalty. Upon receipt of the purchase price, as specified in Paragraph 2 above, DWC shall convey the Property to Goldspring by way of a Quitclaim Deed, free and clear of liens and encumbrances. The Deed shall reserve to DWC a quarterly royalty on production which shall vary in accordance with the average price of gold for the proceeding calendar quarter, as follows: Goldspring, Inc. August 12, 2008 Gold Price / Ounce Pre-Production Royalty Royalty Paid on Production (“Net Smelter Return”) Total NSR Royalty $250.00 or less 1 % 1 % 2 % $251.00 to $500.00 1.5 % 1.5 % 3 % $501.00 to $750.00 2 % 3 % 5 % $751.00 or over 3 % 3 % 6 % Pre-production royalties shall be paid upon verification of a mineable resource by an accredited third party engineer. The term “net smelter returns” shall be defined in accordance with Nevada standards. Goldspring expressly acknowledges the above royalties shall be exclusive of the 1% NSR royalty retained by ▇▇▇ ▇▇▇▇▇▇ to be paid by GoldSpring from production.
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Related to Reserved Royalty

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Earned Royalties In partial consideration of the License and subject to Sections 3.7 and 3.8, Company will pay to Penn: (i) a graduated royalty as set forth in the table below based upon worldwide annual Net Sales made by Company and its Affiliates (but not sublicensees) of any Designated Compound Sold for use in the Field of Use while covered in the country of Sale of expected use by a Valid Claim of the Assigned BMS Patents that is licensed to Company under the License (but no other Licensed Product): <$500 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$500 million but <$750 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$750 million but <$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% [CONFIDENTIAL TREATMENT REQUESTED] /*/ PATENT LICENSE AGREEMENT (ii) a royalty of [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of Net Sales made by Company and its Affiliates (but not sublicensees) for all Licensed Products that qualify as “Licensed Products” hereunder based on clause (b) of that definition and Sold while covered in the country of Sale of expected use by a Valid Claim of the Penn Existing Patents or Penn New Patents; provided that, notwithstanding any credits provided for in Section 3.7 but subject in all events to Section 3.8, royalties payable by Company for such Net Sales for such Licensed Products shall not be less than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%). Only one royalty shall be due hereunder on the Sale of the same unit of Licensed Product. If a royalty accrues to a Sale of a Licensed Product under both clause (i) and (ii) above, then the higher rate of clause (i) shall apply. Only one royalty shall be due hereunder on the Sale of a Licensed Product even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more than one Valid Claim of the Penn Patent Rights.

  • Production Royalty So long as this Lease is in force, a Production Royalty shall be due Lessor during any period of commercial production from the claims. One hundred percent (100%) of all cumulative Minimum Advance Royalty paid by Lessee and received by Lessor can be deducted from the Production Royalty due Lessor. Production Royalty shall be payable on all minerals regardless of what stage in the milling, refining, upgrading or other processing the minerals may be, which are mined from the claims ("leased substances") and sold to a buyer. Production Royalty shall be calculated and paid as follows: (1) The Production Royalty will be calculated as a percentage of Net Smelter Returns ("NSR"). Net Smelter Returns is defined as the dollar amount actually received by Lessee from the sale of any leased substances less Lessee's actual costs, if any, of (a) transportation to a smelter or refiner, (b) off site refining charges and smelter charges, and (c) charges as described in this section B, subsection 9, related to Lessor taking its royalty in kind from the sale of all leased substances. (2) The Production Royalty on the sale of all leased substances other than gold, silver and platinum shall be three percent (3%) of the Net Smelter Return. (3) The Production Royalty percentage rate for the sale of all gold, silver or platinum contained in leased substances from the claims will be based upon the average daily price of gold on the London Metal Exchange ("LME") for the twenty (20) trading days immediately preceding the date of sale of such leased substances: less than $375 3% greater than $375, but less than $475 4% $475 or more 5% (4) In addition to the Production Royalty payable under subsection B(1) of this Section V, Lessee shall pay to Lessor as Production Royalty hereunder a like percentage of the gross amount paid before any deductions whatsoever of any bonus, subsidy or tax credit (but not any Mining Lease Independence Gold Range 061705 federal income tax depletion allowance available to Lessee) which are calculated directly in proportion to the amount of gold or other metal produced. (5) The Production Royalty payable to Lessor-by Lessee to under this Agreement shall be based solely on the payments actually received by Lessee for leased substances produced from the claims and delivered to a refinery, smelter or other purchaser. Lessee shall have no obligation to account to Lessor, and Lessor shall have no interest or right of participation in, any profits or proceeds of futures contracts, forward sales, hedging or other similar marketing mechanisms used by Lessee concerning any leased substances from the claims. (6) In the event the United States or other public authority imposes the payment of any new royalty on production from the mining claims (whether a gross, net smelter returns, net proceeds, net profits or other form of royalty) the amount of NSR that Lessor would otherwise receive shall be reduced by whatever the amount of royalty imposed by the United States or other public authority, further provided that, the foregoing notwithstanding, in no event shall Lessor's percentage of NSR be reduced below 2.5% as it would have been calculated without deduction of any new royalty on production by the United States or other public authority. (7) Unless taken in kind by Lessor, the Production Royalty shall be determined quarterly on the basis such that payments will be determined as of and payable within forty five (45) days after the last day of each calendar quarter during which Lessee receives any net Smelter returns. (8) It is mutually understood and agreed that Lessor shall have the right and option to take its production royalty in kind in the form in which Lessee sells such leased substances. On or before October 1 of each calendar year commencing with the year 2006, Lessor shall give Lessee written notice of whether Lessor elects to take its production royalty in kind throughout the following calendar year. If Lessor fails to give such notice for the first calendar year in which it is eligible to take its production royalty in kind, Lessor shall be deemed to have elected not to take its production royalty in kind for that calendar year. If Lessor fails to give such notice by October 1st of any subsequent year, the election then in effect will continue throughout the following calendar year. Lessor hereby agrees that each election to take or not to take its production royalty in kind Mining Lease Independence Gold Range 061705 shall remain in effect for calendar year increments and that all persons or entities constituting the Lessor shall be required to make the same election whether or not to take in kind. If Lessor elects to take its production royalty in kind, an account will be established in Lessor's name with any buyers, smelters, refiners or other processors to whom leased substances are shipped from the premises. Such buyers, smelters, refiners or other processors will be instructed to automatically deliver Lessor's share of production to Lessor's account after accounting for the allowable deductions in calculation of Lessor's percentage of NSR. If Lessor elects to take its production royalty in kind, it shall bear all risks associated with taking its production royalty in kind, and shall bear all additional costs incurred by Lessee as a result of Lessor's taking in kind. Such additional costs will be considered a deduction against the NSR and will include but not be limited to increased costs due to separate accounts, pourings, storage, insurance, security, transportation and monitoring. Lessor shall have the right to reasonably inspect procedures used by Lessee to make payment in kind, and at its option, Lessor, or its agent, shall have the right to be present to observe sampling and splitting procedures and to review all records and procedures related to division of leased substances for the purpose of taking in kind.

  • License Fees and Royalties Consistent with the applicable U.S. DOT Common Rules, the Recipient agrees that license fees and royalties for patents, patent applications, and inventions produced with federal assistance provided through the Underlying Agreement are program income, and must be used in compliance with federal applicable requirements.

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