ADJUSTMENTS AND VERIFICATION. 7.1 Payment of any Net Profits by the Royaltypayor shall not prejudice the right of the Royaltypayor to adjust the statement supporting the payment; provided, however, that all statements presented to the Royaltyholder by the Royaltypayor for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period the Royaltypayor gives notice to the Royaltyholder making claim on the Royaltyholder for an adjustment to the statement.
Appears in 8 contracts
Samples: NPR Royalty Agreement (BE Resources Inc.), NPR Royalty Agreement (BE Resources Inc.), NPR Royalty Agreement (BE Resources Inc.)
ADJUSTMENTS AND VERIFICATION. 7.1 Payment of any Net Gross Profits by the Royaltypayor shall not prejudice the right of the Royaltypayor to adjust the statement supporting the payment; provided, however, that all statements presented to the Royaltyholder by the Royaltypayor for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period the Royaltypayor gives notice to the Royaltyholder making claim on the Royaltyholder for an adjustment to the statementstatement which will be reflected in subsequent payment of Gross Profits as settled.
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Samples: Gross Royalty Agreement (BE Resources Inc.), Gross Royalty Agreement (BE Resources Inc.)
ADJUSTMENTS AND VERIFICATION. 7.1 8.01 Payment of any Net Profits by the Royaltypayor shall not prejudice the right of the Royaltypayor to adjust protest the correctness of the statement supporting the payment; provided, however, that all statements presented to the Royaltyholder by the Royaltypayor for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end receipt of such statement by the quarter to which the statement relatesRoyaltyholder, unless within that 12 month period that the Royaltypayor gives notice Notice to the Royaltyholder making claim on the Royaltyholder for an adjustment to the statementstatement which will be reflected in subsequent payment of Net Profits.
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Samples: Stairs Option/Joint Venture Agreement (Trio Resources, Inc.)
ADJUSTMENTS AND VERIFICATION. 7.1 8.01 Payment of any Net Profits by the Royaltypayor shall not prejudice the right of the Royaltypayor to adjust protest the correctness of the statement supporting the payment; provided, however, that all statements presented to the Royaltyholder by the Royaltypayor for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period that the Royaltypayor gives notice Notice to the Royaltyholder making claim on the Royaltyholder for an adjustment to the statementstatement which will be reflected in subsequent payment of Net Profits.
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