Common use of Advance Minimum Royalty Payments Clause in Contracts

Advance Minimum Royalty Payments. Until production is achieved from the Property, Lessee shall make the following advance minimum royalty payments to Owner: a. Lessee shall pay Owner the sum of THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) upon execution of this Agreement. b. Commencing with the first anniversary of the Effective Date, Lessee shall make the following advance minimum royalty payments to Owner: The term “advance minimum royalty” shall mean that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.

Advance Minimum Royalty Payments. Until production is achieved from the Propertyproperty, Lessee shall make pay the following advance minimum royalty payments royalties to Owner:. a. Lessee shall pay not be required to make an advance royalty payment to Owner during the sum of THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) upon execution first year of this Agreement, but Lessee agrees to complete the first year work commitment described in Section 1.4 below. b. Commencing with on the first anniversary of the Effective DateAgreement, Lessee shall make the following advance minimum royalty payments to Owner: Anniversary of Agreement Annual Advance Royalty Payment 1 $10,000.00 2 $20,000.00 3 $30,000.00 4 $40,000.00 5 and all years thereafter $50,000.00 The term “"advance minimum royalty” " shall mean that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year year, had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.

Advance Minimum Royalty Payments. Until production is achieved from the Property, Lessee shall make the following advance minimum royalty payments to Owner: a. Lessee shall pay Owner the sum of THIRTY-FIVE SEVEN THOUSAND DOLLARS ($35,000.007,000.00) upon execution of this Agreement. b. Commencing with the first anniversary of the Effective Date, Lessee shall make the following advance minimum royalty payments to Owner: Anniversary of Agreement Advance Minimum Royalty Payment The term “advance minimum royalty” shall mean that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.