Common use of Books, Records, Inspections and Confidentiality Clause in Contracts

Books, Records, Inspections and Confidentiality. (a) Grantee shall have the right, upon reasonable notice to Grantor, to inspect and copy all books, records, technical data, information and materials (the “Data”) pertaining to calculation of royalty payments, including those with respect to commingling; provided that such inspections shall not unreasonably interfere with Grantor’s operations. Grantor makes no representations or warranties to Grantee concerning any of the Data and Grantee agrees that if it elects to rely on any such Data or information, it does so at its sole risk, except in the event of fraud. (b) Grantee shall have the right to audit the books and records pertaining to production from the Royalty Property and contest payments of the Net Smelter Returns Royalty for 24 months after receipt by Grantee of the payments to which such books and records pertain. Each royalty payment shall be deemed conclusively correct unless Grantee objects to it in writing within 24 months after receipt thereof. If any such audit or inspection reveals that royalty payments for any calendar year are underpaid by more than five percent, Grantor shall reimburse Grantee for its reasonable costs incurred in such audit or inspection. (c) Grantee shall have the right, upon reasonable notice, to inspect the facilities associated with the Royalty Property to the extent necessary to confirm Grantor’s proper performance of its obligations in this Exhibit. Such inspection shall be at the sole risk of Grantee, and Grantee shall indemnify Grantor from any liability caused by Grantee’s exercise of inspection rights, unless such liability is caused by the gross negligence or intentional acts of Grantor or its employees or agents. (d) Grantee shall be bound by the confidentiality provisions of Article 13 of the Agreement.

Books, Records, Inspections and Confidentiality. (a) Each Grantee shall have the right, upon reasonable notice to Grantor, to inspect and copy all books, records, technical data, information and materials (the “Data”) pertaining to calculation of royalty payments, including those with respect to commingling; provided that such inspections shall not unreasonably interfere with Grantor’s operations. Grantor makes no representations or warranties to either Grantee concerning any of the Data and each Grantee agrees that if it elects to rely on any such Data or information, it does so at its sole risk, except in the event of fraud. (b) Each Grantee shall have the right to audit the books and records pertaining to production from the its respective Royalty Property and contest payments of the Net Smelter Returns Royalty for 24 months after receipt by such Grantee of the payments to which such books and records pertain. Each royalty payment Such payments shall be deemed conclusively correct unless such Grantee objects to it them in writing within 24 months after receipt thereof. If any such audit or inspection reveals that royalty payments for any calendar year are underpaid by more than five percent, Grantor shall reimburse each Grantee for its reasonable costs incurred in such audit or inspection. (c) Each Grantee shall have the right, upon reasonable notice, to inspect the facilities associated with the its Royalty Property to the extent necessary to confirm Grantor’s proper performance of its obligations in this Exhibit. Such inspection shall be at the sole risk of such Grantee, and such Grantee shall indemnify Grantor from any liability caused by Grantee’s exercise of inspection rights, unless such liability is caused by the gross negligence or intentional acts of Grantor or its employees or agents. (d) Each Grantee shall be bound by the confidentiality provisions of Article 13 of the Agreement.

Books, Records, Inspections and Confidentiality. (a) Grantee shall have the right, upon reasonable notice to Grantor, to inspect and copy all books, records, technical data, information and materials (the “Data”) pertaining to calculation of royalty payments, including those with respect to commingling; provided that such inspections shall not unreasonably interfere with Grantor’s operations. Grantor makes no representations or warranties to Grantee concerning any of the Data and Grantee agrees that if it elects to rely on any such Data or information, it does so at its sole risk, except in the event of fraud. (b) Grantee shall have the right to audit the books and records pertaining to production from the Royalty Property and contest payments of the Net Smelter Returns Royalty for 24 months after receipt by Grantee of the payments to which such books and records pertain. Each royalty payment Such payments shall be deemed conclusively correct unless Grantee objects to it them in writing within 24 months after receipt thereof. If any such audit or inspection reveals that royalty payments for any calendar year are underpaid by more than five percent, Grantor shall reimburse Grantee for its reasonable costs incurred in such audit or inspection. (c) Grantee shall have the right, upon reasonable notice, to inspect the facilities associated with the Royalty Property to the extent necessary to confirm Grantor’s proper performance of its obligations in this Exhibit. Such inspection shall be at the sole risk of Grantee, and Grantee shall indemnify Grantor from any liability caused by Grantee’s exercise of inspection rights, unless such liability is caused by the gross negligence or intentional acts of Grantor or its employees or agents. (d) Grantee shall be bound by the confidentiality provisions of Article 13 of the Agreement.

Books, Records, Inspections and Confidentiality. (a) Grantee shall have the right, upon reasonable notice to Grantor, to inspect and copy all books, records, technical data, information and materials (the “Data”) pertaining to calculation of royalty payments, including those with respect to commingling; provided that such inspections shall not unreasonably interfere with Grantor’s 's operations. Grantor makes no representations or warranties to Grantee concerning any of the Data and Grantee agrees that if it elects to rely on any such Data or information, it does so at its sole risk, except in the event of fraud. (b) Grantee shall have the right to audit the books and records pertaining to production from the Royalty Property and contest payments of the Net Smelter Returns Royalty for 24 months after receipt by Grantee of the payments to which such books and records pertain. Each royalty payment shall be deemed conclusively correct unless Grantee objects to it in writing within 24 months after receipt thereof. If any such audit or inspection reveals that royalty payments for any calendar year are underpaid by more than five percent, Grantor shall reimburse Grantee for its reasonable costs incurred in such audit or inspection. (c) Grantee shall have the right, upon reasonable notice, to inspect the facilities associated with the Royalty Property to the extent necessary to confirm Grantor’s proper performance of its obligations in this Exhibit. Such inspection shall be at the sole risk of Grantee, and Grantee shall indemnify Grantor from any liability caused by Grantee’s 's exercise of inspection rights, unless such liability is caused by the gross negligence or intentional acts of Grantor or its employees or agents. (d) Grantee shall be bound by the confidentiality provisions of Article 13 of the Agreement.