Earned Royalty. Armstrong Coal shall pay to Cyprus Creek as an Earned Royalty (“Earned Royalty”) on each ton of Coal mined and sold from the Property five percent (5%) of Armstrong Coal’s per ton royalty basis per ton, as provided in the Rogers 1947 Mineral Lease plus the additional royalties of one percent (1%) of Armstrong Coal’s per ton royalty basis as provided for in the Additional Earned Royalty Agreement affecting the Coal mined and sold hereunder.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Armstrong Coal Company, Inc.), Asset Purchase Agreement (Armstrong Energy, Inc.), Asset Purchase Agreement (Armstrong Energy, Inc.)
