Common use of Definition of Net Smelter Returns Clause in Contracts

Definition of Net Smelter Returns. For the purposes of this Agreement, the term "Net Smelter Returns" shall mean the net proceeds actually paid to the Optionee from the sale by the Optionee of minerals mined and removed from the Property, after deduction of the following:

Definition of Net Smelter Returns. For the purposes of this Agreement, the The term "Net Smelter Returns" shall mean means the net actual proceeds actually paid to received by the Optionee following the Commencement of Commercial Production (as defined herein) from a smelter or other place of sale or treatment in respect of all ore removed by the Optionee from the sale Property ("Mineral Products") as evidenced by its returns or settlement sheets less the Optionee of minerals mined and removed from the Property, after deduction of the followingfollowing permissible deductions that are incurred with respect to Mineral Products: