Lesser Interest. The Royalty will only be paid on the basis of Grantor’s proportionate share of production of gold and other minerals of any type from the Royalty Property as the Royalty Property exists as of the Effective Date of this Deed. By way of illustration, if a portion of the Royalty Property, as of the Effective Date, entitle Grantor to only an undivided 75% interest in the gold and other minerals of any type produced from such portion of the Royalty Property, then the Royalty will be paid based only on 75% of the production of gold and other minerals of any type from such portion of the Royalty Property.
Appears in 2 contracts
Samples: Option Agreement for Purchase and Sale of Real Property (JR Resources Corp.), Option Agreement (JR Resources Corp.)
Lesser Interest. The Royalty will only be paid on the basis of Grantor’s 's proportionate share of production of gold and other minerals of any type from the Royalty Property as the Royalty Property exists as of the Effective Date of this Deed. By way of illustration, if a portion of the Royalty Property, as of the Effective Date, entitle Grantor to only an undivided 75% interest in the gold and other minerals of any type produced from such portion of the Royalty Property, then the Royalty will be paid based only on 75% of the production of gold and other minerals of any type from such portion of the Royalty Property.
Appears in 2 contracts
Samples: Option Agreement for Purchase and Sale of Real Property (Dakota Territory Resource Corp), Option Agreement (Dakota Territory Resource Corp)
