Net Smelter Returns Royalty definition

Net Smelter Returns Royalty means that charge on proceeds from production as described in Schedule "B";

Net Smelter Returns Royalty means a royalty on the Net Smelter Returns calculated using the percentages set out on Schedule “B” attached hereto.

Net Smelter Returns Royalty will have the meaning attributed to that term in Appendix II.

Examples of Net Smelter Returns Royalty in a sentence

• All amounts payable on account of the Net Smelter Returns Royalty shall be paid free and clear of all taxes, deduction, withholdings, set-off or counterclaims whatsoever (except income taxes of the Holders or taxes on capital gains of the Holders) save only as may be required by law.

• The Holders shall have the right from time to time to register or record notice of the Net Smelter Returns Royalty against title to the Property or elsewhere, and the Grantor shall cooperate with all such registrations and recordings and provide its written consent or signature to any documents and do such other things from time to time as are necessary or desirable to effect all such registrations or recordings or otherwise to protect the interests of the Holders hereunder.

• At any time following the exercise by Edgemont of the option under the Option Agreement and until the commencement of commercial production from Property, the Grantor shall have the right to acquire up to an aggregate 1.0% Net Smelter Returns Royalty (the “Buy-Back Royalty”) from the Holders upon the payment of $1,000,000 in cash.

• If any right power or interest of any Party pertaining to the Net Smelter Returns Royalty would violate the rule against perpetuities, then such right power or interest shall terminate at the expiration of 20 years after the death of the last survivor of all the lineal descendants of Her Majesty, Queen Xxxxxxxxx XX of England, living on the date of this Agreement.

• To compute the Net Smelter Returns Royalty, the Grantor shall multiply the Net Smelter Returns by the Royalty Percentage in each case for the immediately preceding calendar quarter.

More Definitions of Net Smelter Returns Royalty

Net Smelter Returns Royalty has the meaning set out in Section 3(a) hereof. (bb) “Notices” has the meaning set out in Section 11(d).

Net Smelter Returns Royalty means one percent (1%) of the actual proceeds received from any mint, smelter, refinery or other purchaser for the sale of ores, base metals, precious metals, rare earth metals, elements or other minerals or concentrates produced from the Property and sold, after deducting from such proceeds the following charges to the extent that they were not deducted by the purchaser in computing payment: smelting and refining charges, penalties, smelter assay costs and umpire assay costs, costs of freight and handling of metals of or concentrates from the Property to any mint, smelter, refinery or other purchaser, marketing costs, insurance on all such metals or concentrates, custom duties or mineral taxes or the like and export and import taxes or tariffs payable in respect of said ores, metals or concentrates. But not including Imperial’s income tax, property tax, ad valorem tax, business tax or similar taxes. Any charges to be deducted hereunder which are made to an associated company of Imperial must be on commercially reasonable terms.

Net Smelter Returns Royalty has the meaning set out in Section 3.1.

Net Smelter Returns Royalty means the royalty granted by Section 2.1 of this Royalty Agreement.

Net Smelter Returns Royalty or “NSR” means a net smelter returns royalty payable by the Optionee to the Optionor equal to Two percent (2%) of the proceeds from production, as described in Schedule “B” for all minerals derived from the Property, however, if the Optionor is entitled to any form of NSR from another source, the NSR hereunder will be reduced accordingly so that the Optionor’s aggregate net smelter returns royalty is no greater than Two percent (2%), the whole reducible to One percent (1%) in accordance with Section 3.5 of this Agreement;

Net Smelter Returns Royalty means a net smelter returns royalty calculated as provided in Schedule C, which may be payable to a Royalty Holder as provided by Sections 10.10 or 11.1. (qq)

Net Smelter Returns Royalty means the right of a party or parties (the “Owner”) to receive from Holdco (the “Payor”) a 0.5% of Net Smelter Returns until such time as the Owner has received $1,000,000, and thereafter the right to receive 1.0% of Net Smelter Returns.