Grant of Royalty a. In accordance with the terms and conditions of the Original Agreement as amended by this Royalty Agreement the Company has granted, sold and conveyed and by these presents does grant, sell and convey unto Karlsson the following royalties and overriding royalties (collectively, the “Royalty”) (i) an undivided three percent (3%) of one hundred percent (100%) of the Gross Sales of all Authorized Minerals sold by the Company from the AWP Area plus (ii) an amount equal to twenty-five percent (25%) of all amounts received by the Company from HNZ pursuant to the Agreement dated April 23, 2012 by and between HNZ and the Company (the “HNZ Royalties”), a memorandum of which is recorded as Document #2012-002323 of the records of Apache County, Arizona.
b. Any Royalty paid pursuant to this Royalty Agreement shall be pari passu with payment of the following obligations: (i) a royalty of not more than 1% of the Company’s Gross Sales of Authorized Minerals to Buffalo Management LLC, (ii) a royalty in an amount not to exceed 2.1% of the Company’s Gross Sales of Authorized Minerals to Grandhaven Energy, LLC and (iii) the Company’s obligations to the SL Group, AIG and the Hortenstine Group under the Potash Sharing Agreement (collectively, the “Other Royalty Holders”).
c. The Royalty shall be calculated quarterly as of the last day of March, June, September and December; provided, however, that a Royalty, if any, paid upon written off receivables shall be credited to the next calendar quarter. Royalty payments for each preceding calendar quarter shall be paid in arrears within forty-five (45) days of the end of each of June, September, and December and within ninety (90) days of the end of each March, by the Company to Karlsson.
d. The Royalty shall be paid in U.S. dollars, without demand, notice, setoff or reduction, by wire transfer in good and immediately available U.S. funds to such account or accounts as the Karlsson may from time to time designate in writing.
e. The Company may, in the good faith exercise of its reasonable discretion, modify and amend its existing leases applicable to the AWP Area and release portions of the AWP Area (the “Released Areas”) from such leases and/or replace such Released Areas with other real property owned by the applicable lessors (the “Replacement Areas”) on which the Company will in the immediate future conduct mining of Authorized Minerals and in connection therewith shall add any such Replacement Areas to the AWP Area and remove ...
Grant of Royalty. For good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, Grantors grant, sell, assign and convey to Grantee, its successors and assigns, forever, a Net Smelter Returns Royalty equal to 1.5% of Net Smelter Returns (the “Royalty Percentage”), as hereinafter defined and computed, for all gold produced from the Properties after production of the Threshold Amount (the “Royalty”).
Grant of Royalty. For good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, Grantors grant, sell, assign and convey to Grantee, its successors and assigns, forever, (a) a Net Smelter Returns Royalty equal to 1.5% of Net Smelter Returns (the “Royalty Percentage”), as hereinafter defined and computed, for all gold produced from the Properties after production of the Gold Threshold Amount (the “Gold Royalty”), and (b) a separate and independent Net Smelter Returns Royalty equal to the Royalty Percentage, as hereinafter defined and computed, for all copper produced from the Properties after production of the Copper Threshold Amount (the “Copper Royalty”). For purposes of this Deed, the Gold Royalty and the Copper Royalty are collectively referred to as the “Royalties” and each is referred to as a “Royalty”.
Grant of Royalty. The Grantor does hereby grant the Royalty to the Grantee in perpetuity, subject to the terms and conditions of this Agreement. The Royalty shall run with the Property, and shall be registered by the Grantee against title to the Property.
Grant of Royalty. 2.1. Payor hereby grants and agrees to pay to Payee a royalty (the “NSR Royalty”) in perpetuity equal to two percent (2.0%) of the Net Smelter Returns.
Grant of Royalty. The Company will grant Employee a one (1%) percent net smelter return royalty (“NSR”) for all prospects generated by Employee and which are acquired by staking for the Company, exclusive of the CVN, HC and RC properties. The Company will grant Employee a one-half (1/2%) percent NSR for all prospects generated by Employee which are subsequently leased by the Company, provided that (i) such lease Carries a total maximum NSR of four (4%) percent (inclusive of the one-half (1/2%) percent royalty to Employee), and (ii) such lease does not adjoin claim from which Employee is otherwise entitled to receive participation in an NSR. The Company will have the right to purchase such one-half (1/2%) percent NSR respecting leased prospects for $250,000.
Grant of Royalty. 3.1 Subject to payment of the Initial Payment, the Owner does hereby grant to the Royalty Holder an ORRI in respect of all Petroleum produced from the Lands by authority of the Exploration Permit which is attributable to the Permit Interest on the terms of this Deed.
3.2 The ORRI shall be at the rate of 2.34358% of the gross value at the wellhead of all Petroleum produced from the Lands which is attributable to the Permit Interest. The ORRI shall be calculated in the same manner as the 10% royalty payable to the Northern Territory as set forth in Part III, Division 5, Section 84, excluding section 84(6), of the Petroleum Act, as amended, replaced or re-enacted from time to time with the exception that:
(a) should the aforementioned calculation be based on the ‘net-back’ or ‘work-back’ method and include amount(s) attributable to a proportionate share of gathering, transportation, processing, treating and related costs which are incurred downstream of each CDP, such costs shall be capped at 30% of the sales price to an arms-length third party purchaser of the Petroleum;
(b) the calculation of the ORRI shall not include any amounts in respect of any tax or duty other than as provided in section 84(8) of the Petroleum Act of the Northern Territory of Australia; and
(c) if the royalty payable to the Northern Territory under the Petroleum Act ceases to be calculated by reference to the gross value at the wellhead, then the Owner and the Royalty Holder shall, acting in good faith, agree such amendments to the determination of the ORRI under this Deed so as to give effect to the original intent of the Parties that the Owner grants the Royalty Holder a ORRI calculated at the rate of 2.34358% of the gross value at the wellhead of all Petroleum produced from the Lands attributable to the Permit Interest. If the Parties have not agreed such amendments, and signed a deed of amendment giving effect to the amendments, within 90 days of the date that the relevant amendments to the calculation of the royalty payable to the Northern Territory under the Petroleum Act take effect, either Party may refer the matter for resolution by an independent expert in accordance with clause 14.3.
3.3 The Owner acknowledges that the Owner has the obligation to market the Petroleum attributable to the ORRI in the same manner that they market the Owner’s Petroleum. All payments of the ORRI shall be made within 60 days of the end of each month and shall not be reduced by or offset against a...
Grant of Royalty. For the consideration set out in the Share Sale Agreement and subject to clause 1.4, MFCB agrees, subject to the terms and conditions in this Deed, to pay the Royalty to NLS provided that nothing herein shall obligate or be deemed to obligate MFCB or any of its Affiliates (including after Completion Banff and/or KCCL) to conduct or maintain any level of operation at the Mining Operations.
Grant of Royalty. Grantor shall pay to Grantee a perpetual production royalty (the “Royalty”) equal to two and one-half percent (2.50%) (the “Royalty Percentage”) of Net Smelter Returns from the sale or other disposition of all Royalty Gold from the properties described on attached Schedule A (the “Properties”), determined in accordance with the provisions of this Agreement. “Royalty Gold” shall mean (i) all gold mined via underground mining methods from the Properties, regardless of ore gold grade, and (ii) all gold that is mined via open pit mining methods from the Properties situated below the Projected Final Pit Shells and is contained in ore with an in-situ gold grade of at least 0.1166 xxxx ounces per ton of ore, as determined in accordance with sound mining and metallurgical accounting practices consistent with those required in Section 1.6 for commingling.
Grant of Royalty. Optionee agrees to grant to Gareste alone (and not to any of the other Optionors) a 2% Net Smelter Royalty on the proceeds of any production from each of the Pxxxxx Pxxxxx and Fxxxxx properties, capped at US$6 million per property, one-half of which at each property can be repurchased by Zoro at any time before the commencement of commercial production at that property, for the sum of US$2 million.
