Grant and Computation Sample Clauses

Grant and Computation. As provided in the Option Agreement, the Holders have reserved to themselves from the transfer of their respective interests in the Property to Edgemont and Edgemont has granted and hereby affirms and restates that it hereby grants and covenants and agrees to pay to the Holders a net smelter returns royalty (the “Net Smelter Returns Royalty”) in respect of Products produced from the Property. To compute the Net Smelter Returns Royalty, the Grantor shall multiply the Net Smelter Returns by the Royalty Percentage in each case for the immediately preceding calendar quarter.
Sample 1
AutoNDA by SimpleDocs
Grant and Computation. Grantor hereby grants and shall pay to Royalty Holder a gross overriding royalty (“Gross Overriding Royalty”) in respect of the Diamonds, to be calculated and paid in accordance with this Agreement. To compute the Gross Overriding Royalty, Grantor shall multiply the Appraised Value of all Diamonds that are produced from the Properties by 1.0%, in each case for the immediately preceding calendar quarter.
Sample 1
Grant and Computation. As provided in the Option Agreement, Xxxxxxx has reserved to itself from the transfer of its interest in the Property to Grantor and Grantor has granted and hereby affirms and restates that it hereby grants and covenants and agrees to pay to Xxxxxxx a net smelter returns royalty (the “Net Smelter Returns Royalty”) in respect of Products produced from the Property. To compute the Net Smelter {00170212;1} Returns Royalty, the Grantor shall multiply the Net Smelter Returns by the Royalty Percentage in each case for the immediately preceding calendar quarter.
Sample 1

Related to Grant and Computation

  • Interest Eligibility and Computation If NYSERDA fails to make Prompt Payment, NYSERDA shall pay interest to the Contractor on the Payment when such interest computed as provided herein is equal to or more than ten dollars ($10.00). Interest shall be computed and accrue at the daily rate in effect on the Date of Payment, as set by the New York State Tax Commission for corporate taxes pursuant to Section 1096(e)(1) of the Tax Law. Interest on such a Payment shall be computed for the period beginning on the day after the Payment Due Date and ending on the Date of Payment.

  • DETERMINATION OF DBE PARTICIPATION A firm must be an eligible DBE and perform a professional or technical function relating to the project. Once a firm is determined to be an eligible DBE, the total amount paid to the DBE for work performed with his/her own forces is counted toward the DBE goal. When a DBE subcontracts part of the work of its contract to another firm, the value of the subcontracted work may be counted toward DBE goals only if the subprovider is itself a DBE. Work that a DBE subcontracts to a non-DBE firm does not count toward DBE goals. A DBE subprovider may subcontract no more than 70% of a federal aid contract. The DBE subprovider shall perform not less than 30% of the value of the contract work with assistance of employees employed and paid directly by the DBE; and equipment owned or rented directly by the DBE. DBE subproviders must perform a commercially useful function required in the contract in order for payments to be credited toward meeting the contract goal. A DBE performs a commercially useful function when it is responsible for executing the work of the contract and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be responsible, with respect to materials and supplies used on the contract, for negotiating price, determining quality and quantity, ordering the material, and installing (where applicable) and paying for the material itself . When a DBE is presumed not to be performing a commercially useful function, the DBE may present evidence to rebut this presumption. A Provider may count toward its DBE goal a portion of the total value of the contract amount paid to a DBE joint venture equal to the distinct, clearly defined portion of the work of the contract performed by the DBE. Proof of payment, such as copies of canceled checks, properly identifying the Department’s contract number or project number may be required to substantiate the payment, as deemed necessary by the Department.

  • Computations Unless otherwise expressly set forth herein, any accrued interest on any Loan, any Fees or any other Obligations due hereunder shall be computed on the basis of a year of 360 days and the actual number of days elapsed.

Time is Money Join Law Insider Premium to draft better contracts faster.