Common use of 29C Clause in Contracts

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject 1)Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year Scheduled (commencing Quarter Offset 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Production Year (commencing 1st January) Quarter Scheduled Offset Amount Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Production Year (commencing 1st January) Quarter Scheduled Offset Amount Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,0001,000,000 (2) Whenever the scheduled offset amount for a quarter plus any amount added thereto as hereinafter provided exceeds 50% of the royalty otherwise due for payment in respect of that quarter the amount that may be offset for that quarter shall be limited to an amount equal to 50% of that royalty and the excess together with interest on such excess at the rate of 14% per annum calculated from the date of payment of the royalty for the quarter to which the excess relates to subject to the proviso first hereinafter contained) whichever is the sooner of the date upon which royalty in respect of such succeeding quarter is paid or the date upon which such royalty becomes payable shall be carried forward and applied by the Joint Venturers to increase the scheduled offset amount applicable to the next succeeding quarter by the amount carried forward (which increased amount shall then become the scheduled offset amount for that quarter) PROVIDED THAT where in such succeeding quarter a royalty is payable by the Joint Venturers pursuant to subparagraph (i) of paragraph (c) of subclause (5) of Clause 29 including any increase effected thereto pursuant to subclause (6) of Clause 30 the excess and the interest then accrued thereon or so much thereof as does not exceed 50% of that royalty shall be retired by offset to the extent thereof against that royalty AND PROVIDED FURTHER that in the event that any such excess remains at the end of 1993 then it shall be carried forward and applied by the Joint Venturers in the manner provided in this subclause (2) until the amount of any such excess is reduced to zero.

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year Scheduled (commencing Quarter Offset 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Schedule 3 Production Year (commencing 1st January) Quarter Scheduled Offset Amount Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000

29C. (1) Subject to subclause (2) of this Clause, the amount of royalties that become due for payment by the Joint Venturers in respect of diamonds recovered from the areas the subject of this Agreement under Clause 29 and any increase thereto pursuant to subclause (6) of page 106 Version 02-a0-10 As at 18 Mar 2011 Diamond (Argyle Diamond Mines Joint Venture) Agreement Act 1981 First supplementary agreement Schedule 3 Clause 30 in respect of each quarter set forth in the Schedule below shall be partially offset by the amount shown as the scheduled offset amount for each quarter. SCHEDULE. Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1986 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000 1987 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,625,000 Second . . . . . . . . . . . . . . . $1,625,000 Third . . . . . . . . . . . . . . . . . $1,625,000 Fourth . . . . . . . . . . . . . . . . $1,625,000 1988 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,875,000 Second . . . . . . . . . . . . . . . $1,875,000 Third . . . . . . . . . . . . . . . . . $1,875,000 Fourth . . . . . . . . . . . . . . . . $1,875,000 1989 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1990 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 As at 18 Mar 2011 Version 02-a0-10 page 107 Diamond (Argyle Diamond Mines Joint Venture) Agreement Xxx 0000 Schedule 3 First supplementary agreement Production Year (commencing 1st January) Quarter Scheduled Offset Amount 1991 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,500,000 Second . . . . . . . . . . . . . . . $1,500,000 Third . . . . . . . . . . . . . . . . . $1,500,000 Fourth . . . . . . . . . . . . . . . . $1,500,000 1992 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $2,000,000 Second . . . . . . . . . . . . . . . $2,000,000 Third . . . . . . . . . . . . . . . . . $2,000,000 Fourth . . . . . . . . . . . . . . . . $2,000,000 1993 . . . . . . . . . . . . First . . . . . . . . . . . . . . . . . $1,000,000 Second . . . . . . . . . . . . . . . $1,000,000 Third . . . . . . . . . . . . . . . . . $1,000,000 Fourth . . . . . . . . . . . . . . . . $1,000,000