Common use of Amount of Royalties Paid Clause in Contracts

Amount of Royalties Paid. The royalties payable by Lessee to Lessor under this Lease shall be the greater of either: (1) the Advance Minimum Royalty, as provided in Article 3.B hereof; or (2) the Production Royalty determined in accordance with Article 4 hereof less any credit under Article 3.C hereof.

Amount of Royalties Paid. The royalties payable by Lessee to Lessor the Payment Agent under this Lease shall be the greater of either: (1) the Advance Minimum Royalty, as provided in Article 3.B hereof; or (2) the Production Royalty determined in accordance with Article 4 hereof less any credit under Article 3.C hereof.