Credit For Advance Royalties. Upon the commencement of production of minerals in paying quantities, the principal sum paid as an advance royalty for the year in which such production commences, and the principal sums so paid for the two (2) previous years, shall be credited against the royalty otherwise payable to the Commissioner.
Appears in 6 contracts
Samples: Mining Lease (BE Resources Inc.), Mining Lease (BE Resources Inc.), Mining Lease (BE Resources Inc.)
