NSR. A 2.5% net smelter returns royalty (the “NSR”) on the production of minerals from the properties set forth in the Royalty Deed, dated as of the Closing Date; and
NSR. The Optionor shall retain a two percent (2%) NSR for any and all tonnage mined and delivered from the Property for any and all minerals. Such 2% NSR shall also apply with respect to any part or parts of any mining claims staked within the Area of Mutual Interest, which shall be included in the NSR subject to sale in accordance with paragraph (B) below.
NSR. (i) shall be responsible for property (ad valorem) taxes, if any, determined pursuant to the North Carolina General Statutes and related rules and regulations of the North Carolina Department of Revenue on Non-operating Property that is owned by NCRR and which NSR has the exclusive right to use under the Agreement and (ii) shall be responsible for any property taxes, assessments, or liens with respect to Designated Returned Property not paid by NSR or any of its subtenants/licensees for all periods prior to the Return Date. NCRR shall be responsible for property (ad valorem) taxes on all other Non-operating Property; provided, however, where NSR has the non-exclusive right to use Non-operating Property under EXHIBIT 10(i), Page 33 of 44 the Agreement, then NSR shall be responsible for its pro rata share of the property taxes on such property based on NSR's usage of such property. For purposes of this Section 26, Non-operating Property shall mean property that is appraised as non-system property by the North Carolina Department of Revenue or separately assessed by the local assessor as non-public service company property.
NSR. The Vendor hereby reserves and the Purchaser hereby grants and agrees to pay to the Vendor an annual royalty of 3% of the Net Smelter Returns derived from mining operations on the Mineral Claims and the Dome Claim (upon the exercise of the Option) and products, mined, extracted, or derived therefrom or any part thereof, to be calculated and paid in accordance with schedule “C” hereto.
NSR. The Optionor shall retain a four percent (4%) NSR (to be allocated pro rata among those individuals comprising the Optionor in accordance with their respective ownership interests) for any and all tonnage mined and delivered to the mill from the Property for any and all minerals. Such 4% NSR shall also apply with respect to any part or parts of any mining claims staked within the Area of Mutual Interest, which shall be included in the NSR subject to sale in accordance with paragraph (B) below.
NSR. 3.1 Upon the exercise of the option and once the commercial production of the Mining Concession has begun, the Beneficiary shall pay the Proprietor a net smelter return royalty (“NSR”) of 1.5 % of what the Beneficiary receives for the selling of concentrates, dore metal, bullion and other products obtained from the recovery of fine contents of gold, copper and cobalt – after applicable and common discounts - derived from the minerals extracted as a result of the exploitation of the Mining Concessions.
3.2 At any time after the exercise of the option Polymet may acquire 100% of the NSR in exchange for a one-time $1,500,000 USD payment.
3.3 The Proprietor shall grant the Beneficiary a preemptive right to acquire the NSR. The procedure for the exercise of such preemptive right will be established in the Option Agreement.
3.4 No mining activity shall take place until the full option agreement has been completed an all $300,000 USD payments of shares and cash have been made.
3.5 Finally, the Parties hereby agree that they will waive the resolutory action that may derive from the NSR in the Option Agreement.
NSR. In the event GBR acquires the Stage 2 Interest, PMPL shall be granted a 2.00% Net Smelter Return on the terms set out in Schedule 3 (NSR).
NSR. ARGENTUM agrees to pay North Bay a royalty of Two Percent (2.0%) of “Net Smelter Returns” (NSR), as that term is hereinabove defined. This royalty can be paid out in full and terminated upon the payment of Two Million USD ($2,000,000) to North Bay by ARGENTUM at any time.
NSR. MPA shall pay to the SM Group a NSR equal to two per cent (2%) of the Net Value of all ores, minerals, metals, and materials mined and removed from the San Xxxxxx Concessions and sold or deemed to have been sold by or for MPA or MPA’s designee. The NSR shall be paid to the members of the SM Group in the following proportions: Synergex Group Limited Partnership 45.25%, Genssler Investment Partnership LLP 22.625%, Xxxxx Xxxxxxxx 22.625% and Xxxxxxx X. Xxxxx 9.5%. Vista guarantees the timely and full payment by MPA of the NSR to the SM Group. The obligation to pay NSR shall accrue upon the outturn of refined metals meeting the requirements of the specified published price to the account of MPA or MPA’s designee (or to a third party account for the benefit of MPA or MPA’s designee) or the sooner sale of unrefined metals, dore, concentrates, ores or other mineral products or materials as hereinafter provided.
NSR. Any interest in the Mineral Claims earned by Rincon hereunder shall be xxxxxx free and clear of any mortgages, liens, charges, pledges, security interests, encumbrances and any other claims of any description, but shall remain subject to a three (3%) percent NSR in favour of the Owner (who is responsible for remitting up to two (2%) percent of this to the Underlying Owners, as described in Schedule A, determined and paid in accordance therewith. It is agreed that up to two-thirds (2/3) of the three (3%) percent NSR reserved unto the Owner herein may be purchased at any time by Rincon paying to Owner $1,000,000 per one-third (1/3) portion ($1,000,000 per one (1%) percent NSR).
