Common use of MINERAL LEASE Clause in Contracts

MINERAL LEASE. As soon as practicable after the said proposals become approved proposals the State will in accordance with the relevant approved proposal on the application of the Joint Venturers cause to be granted to them a mineral lease in the form set out in the Schedule to this Agreement for the mining of iron ore from such part or parts of the land comprised in the mining areas as is or are then subject to the right of occupancy and referred to in the said proposals. The following provisions will apply to the mineral lease — (a) the total area of the land the subject thereof will not exceed three hundred (300) square miles; (b) the boundaries of the land comprising such area will be so located as to form either a single parallelogram or a number of parallelograms; (c) the rent reserved thereby will be that fixed in Section 9.04; (d) the Joint Venturers will therein covenant to pay to the State in addition to the said rent the royalties fixed in Section 21.01;

MINERAL LEASE. As soon as practicable after the said proposals become approved proposals the State will in accordance with the relevant approved proposal on the application of the Joint Venturers cause to be granted to them a mineral lease in the form set out in the Schedule to this Agreement for the mining of iron ore from such part or parts of the land comprised in the mining areas as is or are then subject to the right of occupancy and referred to in the said proposals. The following provisions will apply to the mineral lease — (a) the total area of the land the subject thereof will not exceed three hundred (300) square miles; (b) the boundaries of the land comprising such area will be so located as to form either a single parallelogram or a number of parallelograms; (c) the rent reserved thereby will be b that fixed in Section 9.04; (d) the Joint Venturers will therein covenant to pay to the State in addition to the said rent the royalties fixed in Section 21.01;