Royalty Grant. In consideration of the sum of Sixty-Four Million One Hundred Fifty-Two Thousand Dollars to be paid in accordance with the terms of that certain Funding Agreement between Paramount, the Grantor, the Royalty Owner of even date herewith, together with an amount equal to interest on such consideration from July 1, 2002 at the annual rate of six and one half percent per annum (6.5%) until the consideration is paid in full by the Royalty Owner, the Grantor hereby grants to the Royalty Owner the Royalty with respect to the Initial Assets and all other Properties that may be acquired by the Grantor subsequent to this Agreement.
Royalty Grant. 2.2 Royalty Applicable to After Acquired Properties
Royalty Grant. In addition to the other consideration granted hereunder, effective September 1, 2006 the Consultant is granted a 0.5% gross overriding royalty (the “Royalty”) calculated in the manner herein provided and generally in accordance with the calculation of a Crown royalty, pursuant to Chapter 7 of the Minerals Programme for Petroleum (1 January 2005) in respect of all petroleum obtained under Petroleum Exploration Permit 38348 and 38349 located in the Xxxx Xxxxx Xxxxx xx Xxx Xxxxxxx and which is either sold or used in the production process as fuel or is otherwise exchanged or removed from the permit without sale, or remains unsold on the surrender, expiry or revocation of the permit, except that no royalty shall be payable in respect of: any petroleum that has been unavoidably lost (this includes petroleum that has been flared for safety reasons, or flared as part of a permitted testing programme); and any petroleum which has been mined or otherwise recovered from its natural condition, but which has been returned to a natural reservoir within the area of the permit. The Royalty shall be payable only upon permits and other oil and gas interests which have been acquired by the Company prior to the Term hereof and which are proven to have a commercial discovery during the Term or within two years thereafter. The Royalty shall survive the termination of this Agreement and continue in full force and effect so long as there is commercial production from the permits which otherwise qualify herein for the Royalty. For greater certainty, no Royalty will be payable on any oil and gas interests acquired outside of the East Coast Basin, after the Term hereof or on which a commercial discovery is made more than two years after the Term hereof. The Company will ensure that any sale or other transfer of permits obligates the successor to pay the Royalty. The Consultant is authorized (at his own expense) to record his entitlement to the Royalty in any appropriate government registry. Nothing herein will be construed as obligating the Company to acquire any permits in the East Coast Basin nor to actively explore such Permits.
Royalty Grant. The Company hereby grants, bargains, sells, transfers, assigns and conveys, and agrees to pay, to the Royalty Holder a perpetual production royalty equal to one and one-quarter percent (1.25%) of the Gross Proceeds from all Products that are mined or produced from, or that otherwise originate from, the Property (the “Royalty”) as computed herein. No Royalty shall be due upon bulk samples extracted by the Company for metallurgical testing purposes during the Company’s exploration or development work on the Property. “Products” shall mean any and all ores, metals, minerals, mineral rights and other materials, of whatever kind and nature, howsoever characterized or defined, that are in, on, under or upon the surface or subsurface of the Property (or any part thereof) and all doré, concentrates and other mineral products, metals or minerals which are derived therefrom.
Royalty Grant. Subject to the terms and conditions set forth in this Grant, Grantor hereby grants to Grantee a royalty on production of gold, silver and copper from the Royalty Properties, equal to the Applicable Percentage of Net Smelter Returns, on the following terms and conditions (the "Royalty"):
Royalty Grant. NPS shall pay to DR3 a royalty of [* * *] of Net Sales of Product in the Territory for all or any portion of the calendar year falling within the Royalty Term ("Royalty Payments"), on the terms specified in Article 8.
Royalty Grant. (a) Effective as of the Closing but subject to Section 3 hereof, in consideration for, among other things, receipt by PGRX Parent of the purchase price under the Purchase Agreement (with the amount of such consideration allocable to this Agreement to be determined by Purchasers (as defined in the Purchase Agreement)), PGRX Parent hereby grants, and each of PGRX Delaware and AWP will cause PGRX Parent to so grant, to Buffalo and Investors the right to receive payments from PGRX Parent in an aggregate amount equal to 2% of the higher of (i) the Gross Sales (as defined below) of AWP for a fiscal year and (ii) PGRX Parent's annual gross revenues during such fiscal year (as shown on PGRX Parent's audited financial statements for such fiscal year, but subject to Buffalo and Investors' review thereof) (the "Royalty"). The Royalty shall be allocated among Buffalo and the Investors (or designees, assignees or transferees thereof) pursuant to the allocation percentages set forth in Schedule A. The Royalty shall be paid by PGRX Parent to Buffalo and the Investors promptly following completion of each annual audit of PGRX Parent, but in any event no later than March 31 of each year with respect to the prior fiscal year's Gross Sales and annual gross revenues. No Royalty shall be paid or payable (but shall accrue) so long as such payment is prohibited by the terms of any of the agreements for indebtedness for borrowed money of PGRX Parent or its subsidiaries.
Royalty Grant. Xxxxxxx agrees to pay and grants to Royalty Holder, and Royalty Holder’s assigns and successors forever, a production royalty based on the Net Smelter Returns, as defined in Exhibit 1, from the production or sale of Minerals from the Property. The Royalty percentage rate shall be two percent (2%) of the Net Smelter Returns, subject to the Royalty Buy-Down Options described in Section 1.8. Obligor's obligation to pay the Royalty shall accrue and become due and payable upon the sale or shipment from the Property of unrefined metals, dore metal, concentrates, ores or other Minerals or Minerals Products or, if refined metals are produced, upon the outturn of refined metals meeting the requirements of the specified published price to Obligor's account.
