Nature of Royalty Interest Sample Clauses

Nature of Royalty Interest. 12.1. The NSR Royalty creates a direct real property interest in the Minerals and the Properties in favour of Payee, provided such interest shall be satisfied in respect of any particular Minerals by the payment to Payee of the NSR Royalty in respect thereof.
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Nature of Royalty Interest. Nothing contained in this exhibit or elsewhere in the Agreement will be construed as: (a) imposing on a Payor any obligation with respect to the payment of the NSR Royalty due hereunder to a Royalty Holder from any other Payor; or (b) conferring on any Royalty Holder any right to, or interest in, the Development Area or any Assets except the right to receive NSR Royalty payments from the Payor as and when due; provided that the Parties acknowledge that no transfer or other disposition of the Development Area or any interest in the Development Area will be made except subject to the NSR Royalty.
Sample 1
Nature of Royalty Interest. Nothing contained in this schedule or elsewhere in this Agreement will be construed as: (a) imposing on a Payor any obligation with respect to the payment of the NSR Royalty due hereunder to a Royalty Holder from any other payor; or (b) conferring on any Royalty Holder any right to, or interest in, the Properties or Assets except the right to receive NSR Royalty payments from the Payor as and when due, provided that the parties acknowledge that the NSR Royalty is intended to constitute an interest in land and to run with the Properties and any interest in the Properties, and no transfer or other disposition of the Properties or any interest in the Properties will be made except subject to the NSR Royalty.
Sample 1
Nature of Royalty Interest. It is the intent of the parties that this Assignment shall create an overriding royalty interest only. Grantees shall have no executive power with respect to, or right to participate in rents, royalties or other payments arising from the Subject Lands, except as expressly provided herein. This Agreement shall be binding on and inure to the benefit of the permitted successors and assigns of the Grantees and the Grantor.
Sample 1
Nature of Royalty Interest. Nothing contained in this schedule or elsewhere in this Agreement will be construed as: (a) imposing on a Payor any obligation with respect to the payment of Net Profits due hereunder to the Royalty Holder from any other payor; or (b) conferring on the Royalty Holder any right to, or interest in, the Property or Assets except the right to receive Net Profits Royalty payments from the Payor as and when due; provided that the Parties acknowledge that the right of the Royalty Holder to the Net Profits Royalty, while not an interest in land, is intended to run with the Property and any interest in the Property, and no transfer or other disposition of the Property or any interest in the Property will be made except subject to the rights of the Royalty Holder.
Sample 1

Related to Nature of Royalty Interest

  • Payment of Royalty The royalty obligation under Section 5.4 shall accrue upon the sales of a Licensed Product in each particular country in the Territory, commencing upon [***], and such obligation shall end upon the expiration of the Royalty Term applicable to such Licensed Product in such country. All such royalty payments are non-refundable and non-creditable and shall be due within [***] days of the end of each [***] and are payable in immediately available funds. ProNAi shall notify Marina in writing promptly upon the First Commercial Sale of Licensed Product in each country and thereafter ProNAi shall furnish Marina with a written report (the “Royalties Report”) for each completed [***] showing, on a country-by-country basis, according to the volume of units of Licensed Product sold in each such country (by SKU) during the reporting period (whether Licensed Product is sold by ProNAi or its Affiliates or Sublicensees): (a) the gross invoiced sales of the Licensed Product sold in each country during the reporting period, and the amounts deducted therefrom to determine Net Sales from such gross invoiced sales; (b) the royalties payable in dollars, if any, which shall have accrued hereunder based upon Net Revenues from sales of Licensed Product; and (c) the withholding taxes, if any, required by Applicable Law to be deducted in respect of such sales (provided that, as to sales by Sublicensees, ProNAi shall report only the net sales numbers (using the definition for such term in the applicable sublicense agreement) as reported by the Sublicensee, if such Sublicensee does not report gross invoiced sales numbers). With respect to sales of Licensed Product invoiced in US dollars, the gross invoiced sales, Net Revenues and royalties payable shall be expressed in the Royalties Report in US Dollars. With respect to sales of Licensed Product invoiced in a currency other than US dollars, the gross invoiced sales, Net Sales and royalties payable shall be expressed in the Royalties Report in the domestic currency of the party making the sale as well as in the US dollar equivalent of the Royalty payable and the exchange rate used in determining the amount of US dollars. The US dollar equivalent shall be calculated on a calendar-month basis using the average monthly interbank rate listed in the Wall Street Journal.

  • Production Royalty When Lessee commences production of ores, minerals or materials from the premises, Lessee shall pay to Lessor a production royalty of 3% of the Net Smelter Returns (NSR) received by Lessee from the sale of said ores, minerals or materials, from the Premises. Lessor may buy out the Lessee’s Production Royalty at a rate of One Million Dollars ($1,000,000.00) per Royalty percentage, with the Lessee retaining One Percent (1%). (1) If Lessee sells refined gold or silver, Lessee will be deemed to have received proceeds from the sale thereof equal to the number of ounces of refined gold or silver outturned to Lessee's account during the calendar quarter multiplied in the case of gold by the average daily London Bullion Brokers P .M Gold Fixing during such calendar quarter and in the case of silver by the average of the daily Engelhard industrial bullion price for silver during the calendar quarter. The average price for a calendar quarter shall be determined by dividing the sum of all daily prices posted during the calendar quarter by the number of days that prices were posted. The posted price shall be obtained from the Wall Street Journal, Reuters, E&MJ or other industry-accepted source. If a posted price referenced above becomes no longer available, Lessee shall, acting reasonably, select an alternative posted price that closely approximates such original posted price. Lessee shall have the right to market and sell to third parties refined gold and silver in any manner it chooses, including the sale of such refined gold and silver on the commodity market. In this regard, Lessor shall have no right to participate in any gains and/or profits or obligation to suffer any losses accruing to Lessee as a result of forward sales, options trading, commodities futures trading or similar transactions. (2) Charges to be deducted from proceeds in determining Net Smelter Returns (a) all costs, charges and expenses paid or incurred by Lessee for treatment in the smelting and refining processes (including handling, processing, interest and provisional settlement fees, sampling, assaying and representation costs, penalties and other processor deductions);

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

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