Adjustment of Initial Royalty Rate for Export Water Sample Clauses

Adjustment of Initial Royalty Rate for Export Water. (i) If the Export Water is sold or disposed of by the Export Water Contractor on an Entitlement Basis to a public entity for an amount in excess of Forty-Five Million Dollars ($45,000,000) in Gross Revenues, the Initial Royalty Rate for such Export Water shall be increased for Gross Revenues received in excess of $45,000,000 as follows: 0 - $45,000,000 10% $45,000,000 - $60,000,000 20% $60,000,000 - $75,000,000 30% $75,000,000 - $90,000,000 40% Over $90,000,000 50% As an example, if the Export Water Contractor receives One Hundred Million Dollars ($100,000,000) in Gross Revenues from sales of the Export Water on an Entitlement Basis to a public entity, the Land Board will receive a royalty as follows: the first $45,000,000 $4,500,000 the next $15,000,000 $3,000,000 the next $15,000,000 $4,500,000 the next $15,000,000 $6,000,000 the next $10,000,000 $5,000,000 (ii) If the Export Water is sold by or disposed of by the Export Water Contractor on an Entitlement Basis for a private use for an amount in excess of Forty-Five Million Dollars ($45,000,000), the Initial Royalty Rate shall be increased for the Export Water Contractor’s Gross Revenues in excess of Forty-Five Million Dollars ($45,000,000) as follows: 0 - $45,000,000 12% $45,000,000 - $60,000,000 24% $60,000,000 - $75,000,000 36% $75,000,000 - $90,000,000 48% Over $90,000,000 50%
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Related to Adjustment of Initial Royalty Rate for Export Water

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