Common use of For Other Minerals Clause in Contracts

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, and the beneficiated products thereof (“Other Minerals”), shall be determined by multiplying (a) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (b) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a) and 1.4(b) only the following if actually incurred: (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing mechanism that accurately reflects the market value of any such Other Mineral.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: . (i1) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ SEABRIDGE's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii2) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ SEABRIDGE's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii3) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ SEABRIDGE's final mill or other final processing plant to places where such Other Minerals Beneficiated Precious Metals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral. In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by SEABRIDGE, which facilities were not constructed solely for the purpose of milling or processing Other Minerals from the Property, then charges, costs and penalties for such smelting, refining or processing shall mean the amount SEABRIDGE would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by SEABRIDGE then offering comparable services for comparable products on prevailing terms, but in no event greater than actual costs incurred by SEABRIDGE with respect to such smelting and refining. In the event SEABRIDGE receives insurance proceeds for loss of production of Other Minerals, SEABRIDGE shall pay to SELLERS the Production Royalty percentage of any such insurance proceeds which are received by SEABRIDGE for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, and the beneficiated products thereof (“Other Minerals”), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: : (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to Grantor’s xxxxx or other processing plants constructed for the Operatorpurpose of milling or processing Other Minerals, in whole or in part; (ii) penalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals contained in such production, but excluding any and all charges and costs of or related to Grantor’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the OperatorGrantor’s or any of its affiliates’ final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; of In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by Grantor, which facilities were not constructed for the purpose of milling or processing Other Minerals, then charges, costs and (iv) all taxes based directly penalties for such smelting, refining or processing shall mean the amount Grantor would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by Grantor then offering comparable services for comparable products on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitledprevailing terms, but excluding any in no event greater than actual costs incurred by Grantor with respect to such smelting and all taxes based upon refining. In the net or gross income or outstanding capital event Grantor receives insurance proceeds for loss of production, Grantor shall pay to Newmont the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing mechanism that accurately reflects the market value Royalty percentage of any such Other Mineralinsurance proceeds that are received by Grantor for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: . (i1) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ BUYER's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii2) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ BUYER's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii3) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ BUYER's final mill or other final processing plant to places where such Other Minerals Beneficiated Precious Metals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral. In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by BUYER, which facilities were not constructed solely for the purpose of milling or processing Other Minerals from the Property, then charges, costs and penalties for such smelting, refining or processing shall mean the amount BUYER would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by BUYER then offering comparable services for comparable products on prevailing terms, but in no event greater than actual costs incurred by BUYER with respect to such smelting and refining. In the event BUYER receives insurance proceeds for loss of production of Other Minerals, BUYER shall pay to TOTAL the Production Royalty percentage of any such insurance proceeds which are received by BUYER for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, and the beneficiated products thereof (“Other Minerals”), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: : (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to Grantor’s xxxxx or other processing plants constructed for the Operator’s purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals contained in such production, but excluding any and all charges and costs of its affiliates’ or related to Grantor's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ Grantor's final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; . In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by Grantor, which facilities were not constructed for the purpose of milling or processing Other Minerals, then charges, costs and (iv) all taxes based directly penalties for such smelting, refining or processing shall mean the amount Grantor would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by Grantor then offering comparable services for comparable products on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitledprevailing terms, but excluding any in no event greater than actual costs incurred by Grantor with respect to such smelting and all taxes based upon refining. In the net or gross income or outstanding capital event Grantor receives insurance proceeds for loss of production, Grantor shall pay to Newmont the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing mechanism that accurately reflects the market value Royalty percentage of any such Other Mineralinsurance proceeds that are received by Grantor for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (a) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (b) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections Subsections 1.4(a) and 1.4(b) only the following if actually incurred: (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ GRANTOR's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ GRANTOR's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ GRANTOR's final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: . (i1) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ BUYER's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii2) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ BUYER's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii3) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ BUYER's final mill or other final processing plant to places where such Other Minerals Beneficiated Precious Metals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral. In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by BUYER, which facilities were not constructed solely for the purpose of milling or processing Other Minerals from the Property, then charges, costs and penalties for such smelting, refining or processing shall mean the amount BUYER would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by BUYER then offering comparable services for comparable products on prevailing terms, but in no event greater than actual costs incurred by BUYER with respect to such smelting and refining. In the event BUYER receives insurance proceeds for loss of production of Other Minerals, BUYER shall pay to NEWMONT the Production Royalty percentage of any such insurance proceeds which are received by BUYER for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (a) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (b) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a) and 1.4(b) only the following if actually incurred: (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ GRANTOR's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ GRANTOR's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ GRANTOR's final mill or other final processing plant to places where such Other Minerals Beneficiated Precious Metals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (a) the gross mining lease 4397_final amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (b) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections Subsections 1.4(a) and 1.4(b) only the following if actually incurred: (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ LESSEE's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penaltypenalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, Minerals contained in such production, but excluding any and all charges and costs of or related to the Operator’s or any of its affiliates’ LESSEE's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ LESSEE's final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; and (iv) all taxes based directly on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitled, but excluding any and all taxes based upon the net or gross income or outstanding capital of the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing entity or mechanism that accurately reflects the market value of any such Other Mineral.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, Metals and the beneficiated products thereof (“"Other Minerals”"), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: : (iA) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to Grantor's xxxxx or other processing plants constructed for the Operator’s purpose of milling or processing Other Minerals, in whole or in part; (B) penalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals contained in such production, but excluding any and all charges and costs of its affiliates’ or related to Grantor's xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (ii) penalty, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (iiiC) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ Grantor's final mill or other final processing plant to places where such Other Minerals Beneficiated Precious Metals are smelted, refined and/or sold or otherwise disposed of; . In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by Grantor, which facilities were not constructed for the purpose of milling or processing Other Minerals, then charges, costs and (iv) all taxes based directly penalties for such smelting, refining or processing shall mean the amount Grantor would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by Grantor then offering comparable services for comparable products on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitledprevailing terms, but excluding any in no event greater than actual costs incurred by Grantor with respect to such smelting and all taxes based upon refining. In the net or gross income or outstanding capital event Grantor receives insurance proceeds for loss of production, Grantor shall pay to Newmont the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing mechanism that accurately reflects the market value Royalty percentage of any such Other Mineralinsurance proceeds which are received by Grantor for such loss of production.

For Other Minerals. “Net Smelter Returns”, in the case of all Minerals other than Precious Metals, and the beneficiated products thereof (“Other Minerals”), shall be determined by multiplying (ai) the gross amount of the particular Other Mineral contained in the Monthly Production delivered to the Payor during the preceding calendar month by (bii) the average of the New York Commodities Exchange final daily spot prices reported for the preceding calendar month of the appropriate Other Mineral, and subtracting from the product of sections 1.4(a(i) and 1.4(b(ii) only the following if actually incurred: : (i) charges imposed by the Payor for smelting, refining or processing Other Minerals contained in such production, but excluding any and all charges and costs related to Grantors xxxxx or other processing plants constructed for the Operator’s purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty substance, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals contained in such production, but excluding any and all charges and costs of its affiliates’ or related to Grantors xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; (ii) penalty, assaying, and sampling charges imposed by the Payor for smelting, refining, or processing Other Minerals, contained in such production, but excluding any and all charges and costs related to the Operator’s or any of its affiliates’ xxxxx or other processing plants constructed for the purpose of milling or processing Other Minerals, in whole or in part; and (iii) charges and costs, if any, for transportation and insurance of Other Minerals and the beneficiated products thereof from the Operator’s or any of its affiliates’ Grantors final mill or other final processing plant to places where such Other Minerals are smelted, refined and/or sold or otherwise disposed of; . In the event smelting, refining, or processing of Other Minerals are carried out in custom toll facilities owned or controlled, in whole or in part, by Grantor, which facilities were not constructed for the purpose of milling or processing Other Minerals, then charges, costs and (iv) all taxes based directly penalties for such smelting, refining or processing shall mean the amount Grantor would have incurred if such smelting, refining or processing were carried out at facilities not owned or controlled by Grantor then offering comparable services for comparable products on or assessed against the value or quantity of Minerals or their sale or production and which are paid by the Operator, net of any rebate, credit or refund which the Operator has received or to which it is entitledprevailing terms, but excluding any in no event greater than actual costs incurred by Grantor with respect to such smelting and all taxes based upon refining. In the net or gross income or outstanding capital event Grantor receives insurance proceeds for loss of production, Grantor shall pay to Newmont the Operator or other Operator of the Sagar Property. If for any reason the New York Commodities Exchange does not report spot pricing for a particular Other Mineral, then the Parties shall mutually agree upon an appropriate pricing mechanism that accurately reflects the market value Royalty percentage of any such Other Mineralinsurance proceeds that are received by Grantor for such loss of production.