Calculation and Payment of Royalty. (a) The Royalty will accrue on Net Revenues actually collected or received within the Purchaser's fiscal year, and will be due and payable on the Royalty Due Date.
(b) The Royalty payable by the Purchaser under this Agreement will be paid in the currency in which they are received by the Purchaser. If the Vendor requests that any part of the Royalty be paid in any currency other than the currency in which such Royalty is received, such conversion will be made on the date of conversion at the rate of exchange set by the Purchaser's bank to buy the currency requested by the Vendor.
(c) The royalties specified in this Agreement are inclusive of all domestic and foreign goods and services taxes, value added taxes, sales taxes or other similar taxes which may become applicable from time to time. If Purchaser is required under any Law to collect and remit any withholding tax on account of the Royalty to any tax authority, the Purchaser will remit such amounts to such tax authority within a reasonable time of it becoming aware of such obligation.
(d) Any transaction, disposition, or other dealing between the Purchaser and an entity of which the Purchaser holds equity and/or debt convertible into equity constituting at least 20% of the equity of the entity in respect of the Transferred Assets that is not made at fair market value shall be deemed to have been made at fair market value and deemed part of the Net Revenue, and shall be included in the calculation of the Royalty under this Agreement.
(e) Any payments to the Vendor in respect of the Royalty will be paid by wire transfer in accordance with the directions as follows, or as otherwise directed by the Vendor in writing from time to time:
(i) BANK: ACCOUNT Nº: CODIGO IBAN: CODIGO SWIFT (BIC): TITULAR: CIF:
(f) If pursuant to this Agreement or any document, instrument or agreement delivered pursuant to this Agreement the Vendor becomes obligated to pay any sum of money to the Purchaser, then such sum may, at the election of the Purchaser, and without limiting or waiving any right or remedy of the Purchaser under this Agreement or any document, instrument or agreement delivered pursuant to this Agreement, be set off against any Royalty owed by the Purchaser to the Vendor until such amount has been completely set off. ACCOUNTING RECORDS & REPORTS
(a) The Purchaser will maintain at its principal place of business, or another place as may be most convenient, separate accounts and records of all Net Revenues and al...
Calculation and Payment of Royalty. Within 30 days after the end of each Quarter, each Payer, must:
(a) calculate the Royalty payable for that Quarter, if any;
(b) give to the Payees a Statement in respect of that Quarter, even if there is no Royalty payable in respect of that Quarter; and
(c) if the Royalty is payable, pay to the Payees the Royalty due by it for that Quarter, in Immediately Available Funds without demand, reduction or set-off (except any deduction or withholding required by law):
(1) by direct deposit to the bank account nominated by the Payees, which the Payees may, by notice to the Payer, change from time to time; or
(2) if no bank account is nominated, by bank cheque payable to the Payees.
Calculation and Payment of Royalty. 3.1 The Royalty shall be:
(a) calculated and paid on a quarterly basis within 45 days after the end of each quarter of the Operating Year, based on the Net Profits for such quarter, and after deducting any credit from the payment of advance royalties, if any, as may be set forth in the Agreement. However, when calculating the required quarterly payments, a reasonable provision may be made for anticipated Costs for the remainder of the Operating Year; and (b) calculated by the Operator Participant, by each Participant as to its respective share of Royalty and each Participant and the Operator shall keep an account relating to its operations related to the Property.
Calculation and Payment of Royalty. 2.1 The Royalty is payable by Argonaut Laos to the Royalty Holder as from the Commencement of Commercial Operations;
2.2 The Royalty shall be calculated on the basis of the Net Smelter Value of Mineral produced and sold from the Mining Area in each 6 month period ending 30 June and 31 December and shall be payable to the Royalty Holder within 28 days after the end of each such period. Royalty payments not made within the time allowed under this Schedule shall bear interest from the expiration of that time until the time of payment at the rate of A + 5% per annum where "A" is the Australia and New Zealand Banking Group Limited Reference Rate of Interest from time to time.
Calculation and Payment of Royalty. 3.1 The Net Smelter Revenue will be calculated on a calendar quarterly basis and, subject to paragraph 6.1 of this Royalty Agreement, will be equal to Gross Revenue less Permissible Deductions for such quarter.
3.2 The payment on account of the Royalty for each calendar quarter will be calculated and paid within sixty (60) days after the end of each calendar quarter. Smelter settlement sheets, if any, and a statement setting forth calculations in sufficient detail to show the payment's derivation (the "Statement") must be submitted with the payment.
Calculation and Payment of Royalty. Within 21 days after the end of each Quarter, the Payer must:
(a) calculate the Royalty payable for that Quarter, if any;
(b) give to the Payee a Statement in respect of that Quarter, even if there is no Royalty payable in respect of that Quarter; and
(c) if the Royalty is payable, pay to the Payee the Royalty due by it for that Quarter in Australian Dollar Equivalent (unless the Payee requests payment in USD), in immediately available funds without demand, reduction or set-off (except any deduction or withholding required by law):
(i) by direct deposit to the bank account nominated by the Payee, which the Payee may, by notice to the Payer, change from time to time; or
(ii) if no bank account is nominated, by bank cheque payable to the Payee.
Calculation and Payment of Royalty. In this Schedule the following words and phrases shall have the following meanings and other capitalized words and phrases have the meanings assigned to them in the agreement to which this Schedule is attached:
Calculation and Payment of Royalty. NET SMELTER RETURN INTEREST
Calculation and Payment of Royalty. (1) Within 10 Business Days of the end of each Calendar Quarter after the Repayment Date (or, if the Repayment Date falls within a Calendar Quarter, 10 Business Days of the end of the Calendar Quarter in which the Repayment Date falls), the Grantor must:
(1) calculate the Royalty for that Calendar Quarter in accordance with Schedule 2; and
(2) give the Royalty Holder a Royalty Statement for that Calendar Quarter (even if no Royalty for that Calendar Quarter is payable).
(2) For the avoidance of doubt, the Grantor’s obligation to pay the Royalty in respect of Coal produced from the Project continues after the Repayment Date:
(1) irrespective of changes in the Project Profit that may occur after the Repayment Date including if the Project Profit becomes a negative number; and
(2) such that, subject to clause 3.3, there is no subsequent Repayment Date or Repayment Period in respect of any further Royalty Phase.
Calculation and Payment of Royalty
