ADVANCE ROYALTIES. Upon request by the Lessee, the authorized officer may accept, for a total of not more than 10 years, the payment of advance royalties in lieu of continued operation, consistent with the regulations. The advance royalty shall be based on a percent of the value of a minimum number of tons determined in the manner established by the advance royalty regulations in effect at the time the Lessee requests approval to pay advance royalties in lieu of continued operation.
ADVANCE ROYALTIES. Upon request by the lessee, the BLM may accept, for a total of not more than 10 years, the payment of advance royalties in lieu of continued operation, consistent with the regulations. The advance royalty will be based on a percent of the value of a minimum number of tons determined in the manner established by the advance royalty regulations in effect at the time the lessee requests approval to pay advance royalties in lieu of continued operation.
ADVANCE ROYALTIES. On execution of this Agreement the Licensee agrees to pay to Titan the following non-refundable Advance Royalty Amount, which shall be set off as a credit against the royalties due to Titan under subparagraph 4(b): Advance Royalty Amount US$150,000.00 ---------------------- If Titan has not received the Advance Royalty Amount due on execution of this Agreement by the date 15 days from the date of Titan's execution of this Agreement, Titan shall have the right to terminate this Agreement, with immediate effect, by providing the Licensee with written notice of termination at any time prior to Titan's receipt of said Advance Royalty Amount payment.
ADVANCE ROYALTIES. LFIRC will pay the Royalty Advance in four (4) installments as follows:
ADVANCE ROYALTIES. S-A shall pay Wink the non-refundable royalty advances set forth in Exhibit A hereto, at the times set forth in Exhibit A hereto. All advances paid by SA hereunder shall be credited against S-A's royalty payments under Section 5.2.
ADVANCE ROYALTIES. Within ten days of both Parties signing this Agreement, Strategy shall pay to Red Mile a non-refundable, recoupable, advance royalty in the amount of $12,500 . An invoice shall be submitted to STRATEGY by RED MILE, and this advance royalty shall be wire-transferred to RED MILE by STRATEGY in accordance with RED MILE’s wire instructions. This advance royalty is recoupable by STRATEGY who shall hold back actual royalties earned and payable as the result of actual sales until the advance royalty is fully recouped.
ADVANCE ROYALTIES. Lessee agrees to make advance royalty payments to Lessor during the term of this Lease as provided inthis Paragraph 4(a) (“Advance Royalties”).
(i) Lessor and Lessee each acknowledge and agree that all Advance Royalties payable to Lessor under this Lease from and after the Effective Date through September 30, 2015 have been paid in full.*
(ii) Effective as of October 1, 2015, Lessee shall pay Advance Royalties to Lessor as follows: For the Lease Quarter beginning 10-01-2015 and each of the next ensuing seven (7) successive Lease Quarters (ending 09-30-2017) Advance Royalty of $60,000 shall be paid quarterly, with payment made on or before the first day of each such Lease Quarter For the Lease Quarter beginning 10-01-2017 and each of the next ensuing ten (10) successive Lease Quarters (ending 06-30-2020) Advance Royalty of $100,000 shall be paid quarterly, with payment made on or before the first day of each such Lease Quarter For the Lease Quarter commencing 07-01-2020 and each ensuing successive Lease Quarter during the remaining term of this Lease Advance Royalty of $150,000 shall be paid quarterly, subject to a CPI Adjustment as provided below, with payment made within 30 days after the end of each such Lease Year
(iii) The Advance Royalty payable to Lessor for the Lease Year commencing on July 1, 2020 and for each successive Lease Year thereafter shall be adjusted on each anniversary of the Effective Date (7-1-2013) by a percentage equal to the percentage change in the Consumer Price Index (all Urban Areas), U.S. City Average, published by the U.S. Department of Labor, for and during the prior calendar year (the “CPI Adjustment”). Any Advance Royalty payable to Lessor under this Lease prior to the Lease Year commencing on July 1, 2020 shall not be subject to the CPI Adjustment.
ADVANCE ROYALTIES. All advance royalties paid by the Optionor to Mxxxxxx will be credited solely to the account of the Optionor according to and described in the Sale Deed.
ADVANCE ROYALTIES. Lessee agrees to make advance royalty payments to Lessor during the term of this Lease as provided in this Paragraph 4(a) (“Advance Royalties”).
(i) Lessor and Lessee each acknowledge and agree that all Advance Royalties payable to Lessor under this Lease from and after the Effective Date through “April 1, 2018 have been paid in full.
(ii) Effective as of July 1, 2018, Lessee shall pay Advance Royalties to Lessor as follows: For the Lease Quarter beginning 7-01-2018 and each, of the next ensuing seven (7) successive Lease Quarters (ending 6-30-2020) Advance Royalty of $100,000 shall be paid quarterly, with payment made on or before the first day of each such Lease Quarter For the Lease Quarter commencing 07-01-2020 and each ensuing successive Lease Quarter during the remaining term of this Lease Advance Royalty of $150,000 shall be paid quarterly, subject to a CPI Adjustment as provided below, with payment made within 30 days after the end of each such Lease Year
(iii) The Advance Royalty payable to Lessor for the Lease Year commencing on July 1, 2020 and for each successive Lease Year thereafter shall be adjusted on each anniversary of the Effective Date (7-1-2013) by a percentage equal to the percentage change in the Consumer Price Index (all Urban Areas), U.S. City Average, published by the U.S. Department of Labor, for and during the prior calendar year (the “CPI Adjustment”). Any Advance Royalty payable to Lessor under this Lease prior to the Lease Year commencing on July 1, 2020 shall not be subject to the CPI Adjustment.
ADVANCE ROYALTIES. Lessee agrees to make advance royalty payments to Lessor during the term of this Lease as provided in this paragraph 4)(a) (“Advance Royalties”). On or before the first day of each Lease Quarter thereafter beginning October 1, 2013, Lessee shall pay the Advance Royalty for that Lease Quarter as follows: Lease Quarters 2 - 4 - $68,750 paid quarterly Lease Quarters 5 - 24 - $125,000 ($500,000 per year paid quarterly) Thereafter, Minimum Annual Advance Royalty payments shall continue indefinitely at the rate of $750,000 per year adjusted with the CPI beginning once the Properties are placed in and remain in continuous Operation. During each term of this Lease the Advance Royalty shall be adjusted on each anniversary of the Effective Date by a percentage equal to the percentage change in the CPI for the prior calendar year; provided, however, that the required Advance Royalty payment amount at the beginning of the 5th Quarter and the 25th Quarter shall be the amount expressly set forth above in this paragraph 4)(a) without regard to changes in the CPI during the prior term.
