NSR ROYALTY Sample Clauses

NSR ROYALTY. 5.1 The Optionee pay to the Optionor a royalty (the “NSR Royalty” ) equal to a 1% percent in aggregate of Net Smelter Returns (as defined in Subsection 1.1), subject to §5.4 of this Agreement. This NSR Royalty will be payable for so long as the Optionee and/or its successors and assigns hold any interest in the Leases. 5.2 Payment of the NSR Royalty will be made quarterly 70 days after the end of each quarter of the Optionee. Within 70 days after the end of each quarter for which the NSR Royalty is payable, the records relating to the calculation of the NSR Royalty for such quarter will be paid by the Optionee and any adjustments in the payment of the NSR Royalty will be made forthwith after completion of the annual audit. All payments of the NSR Royalty for a year will be deemed final and in full satisfaction of all obligations of the Optionee in respect thereof if such payments or calculations thereof are not disputed by the Optionor within 30 days after receipt by the Optionor of the said payment. The Optionee will maintain accurate records relevant to the determination of the NSR Royalty and the Optionor, or its authorized agent, shall be permitted the right to examine such records at all reasonable times. 5.3 The determination of the NSR Royalty hereunder is based on the premise that production will be developed solely on the Leases except that the Optionee will have the right to commingle ore mined from the Leases with ore mined and produced from other properties provided the Optionee will adopt and employ reasonable practices an procedures weighing, sampling and assaying, in order to determine the amounts of products derived from, or attributable to ore mined and produced from the Leases. The Optionee will deliver the Optionor a description of Optionee’s commingling plan not less than 30 days before commencing of commingling. The Optionee will maintain accurate records of the results of such sampling, weighing and analysis with respect to any ore mined and produced from the Leases. The Optionor or its authorized agents will be permitted the right to examine at all reasonable time such records pertaining to commingling of ore or to the calculation of Net Smelter Returns. 5.4 The Optionee shall have the right to purchase the 1% NSR Royalty for US$1,000,000, at any time.

NSR ROYALTY. In consideration for the transfer and sale of the Property by the Seller to the Purchaser, the Seller shall be entitled to receive a royalty (the “NSR Royalty”) of two percent (2%) of the Net Smelter Returns (as defined in Schedule “B” hereto) derived from the Property following the commencement of Commercial Production thereon, which NSR Royalty shall be inclusive of any other royalties payable with respect to the Property (including, without limitation, the Prior Royalties). With respect only to the initial 250,000 ounces produced on the Property (the “Initial Production”), the dollar amount of the NSR Royalty applicable thereto shall be increased if the average end of day price of gold for the twelve (12) month period immediately preceding the sale of the Initial Production as quoted on the New York Mercantile Exchange (COMEX) (the “Gold Price”) is equal to or greater than US $500/oz, the increase being calculated as follows: (i) if the Gold Price is equal to or greater than US $500/oz but less than US$600/oz, then the dollar amount of the NSR Royalty shall be increased by 5% with respect to such Initial Production (i.e. if the amount of the NSR Royalty for the Initial Production was $100,000, the amount payable would be $105,000); (ii) if the Gold Price is equal to or greater than US $600/oz but less than US$750/oz, then the dollar amount of the NSR Royalty shall be increased by 10% with respect to such Initial Production (i.e. if the amount of the NSR Royalty for the Initial Production was $100,000, the amount payable would be $110,000); and (iii) if the Gold Price is equal to or greater than US $750/oz, then the dollar amount of the NSR Royalty shall be increased by 15% with respect to such Initial Production (i.e. if the amount of the NSR Royalty for the Initial Production was $100,000, the amount payable would be $115,000). For greater certainty and without limiting the generality of the foregoing, the NSR Royalty shall be inclusive of any other royalties payable with respect to the Property granted prior to Closing (including, without limitation, the Prior Royalties) and accordingly, if at the time of any payment of the NSR Royalty, the Purchaser is subject to payment to a third party in respect of the Net Smelter Returns (including payment in respect of any of the Prior Royalties), the amount payable to the Seller shall (without duplication) be reduced by the amount of the third party payment. Notwithstanding the foregoing, the Purchaser shall be...

NSR ROYALTY. In addition, Lessee shall pay to Lessor a royalty at the rate of 3% of the Net Smelter Returns from the Properties (the “Initial NSR Royalty”). After the first anniversary of Lessee commencing mining operations, the Initial NSR Royalty shall be reduced to 1.5% of the Net Smelter Returns from the Properties (the “Subsequent NSR Royalty”). The Initial NSR Royalty and Subsequent NSR Royalty shall be paid no later than 30 days after the end of each calendar quarter in which Products have been sold. To be clear, this Initial NSR Royalty and Subsequent NSR Royalty is in addition to any royalties required by the third party leases, or other royalties that are recorded with the titles to any of the Properties. Lessee will be responsible for timely paying all such third party royalties directly.

NSR ROYALTY. The NSR Royalty payable to Optionor (the “Payee”) pursuant to Section 3 of the Agreement will be paid by Optionee or Optionee’s Company (together the “Payor”) in accordance with the terms of this Schedule B.

NSR ROYALTY. 4.1. Subject to paragraph 4.2 the Optionor shall retain a 2V2% NSR in respect to the Property. 4.2. At any time during the term of this Option Agreement or at any time after the Optionee has exercised the Option, the Optionee may purchase a l'A% NSR (ie 60% of the Optionor's 21/2% NSR) from the Optionor for $3,000,000.

NSR ROYALTY. 4.1 On commencement of Commercial Production from the Properties, Purchaser will pay to Vendor the NSR Royalty, on the terms desc 4.2 On written notice to the Vendor, the Purchaser may request a right to purchase from Vendor 0.5% of the NSR Royalty for $500,000 Buyback Right thereby reducing the NSR Royalty held by the Vendor to 0.5%.

NSR ROYALTY. 10.1 Candente will pay to Keats an annual royalty equal to three-quarters of one percent (0.75%) of Net Smelter Returns on each Property, subject to Section 10.4. # 10.2 Payment of the NSR Royalty will be made quarterly within 30 days after the end of each yearly quarter based upon a year commencing on the 1st day of May and expiring on the 30th day of April in any year in which production occurs. Within 60 days after the end of each year for which the NSR Royalty is payable, the records relating to the calculation of Net Smelter Returns for such year will be audited by Candente and any adjustments in the payment of the NSR Royalty will be made forthwith after completion of the audit. All payments of the NSR Royalty for a year will be deemed final and in full satisfaction of all obligations of Candente in respect thereof if such payments or calculations thereof are not disputed by Keats within 60 days after receipt by Keats of the said audit statement. Candente will maintain accurate records relevant to the determination of Net Smelter Returns and Keats, or his authorized agent, shall be permitted the right to examine such records at all reasonable times. 10.3 The determination of Net Smelter Returns royalty hereunder is based on the premise that production will be developed solely on the Claims except that Candente will have the right to commingle ore mined from the Claims with ore mined and produced from other properties provided Candente will adopt and employ reasonable practices and procedures for weighing, sampling and assaying, in order to determine the amounts of products derived from, or attributable to ore mined and produced from the Claims. Candente will maintain accurate records of the results of such sampling, weighing and analysis with respect to any ore mined and produced from the Claims. Keats or his authorized agent will be permitted the right to examine at all reasonable times such records pertaining to commingling of ore or to the calculation of Net Smelter Returns. 10.4 Candente shall have the right at any time to purchase up to two-thirds of the three-quarters royalty percentage point on any particular Property Group, and thus reduce the NSR Royalty on that particular Property Group from 0.75% to 0.25%, by paying to Keats the sum of $250,000 for each 0.25% royalty percentage point purchased on that particular Property. 10.5 If Candente sells, assigns, options or otherwise disposes of any interest in the Claims or in a particular Propert...

NSR ROYALTY. The NSR Royalty applicable to and imposed on the number of ounces of gold produced by Tonkin from the North Oxide Mineral Zone and the North Sulfide Mineral Zone, respectively, shall be payable only when the number of ounces produced (a) from and on the North Oxide Mineral Zone is in excess of 228,800 ounces; or (b) from the North Sulfide Mineral Zone is in excess of 452,600 ounces. For purposes of this Agreement and the Quitclaim Deed to be delivered by Seller in accordance with Section 2.1.2 (the “Deed”), the “North Oxide Mineral Zone” means the mineralized zone which contains the North Model Measured and Indicated Resource as described in Table 17-9 of the Technical Report on the Tonkin Project prepared for US Gold by Xxxx X. Xxxxx, P.E. of Ore Reserves Engineering dated May 16, 2008 (the “Technical Report”) and the “North Sulfide Mineral Zone” means the mineralized zone which contains the North Model Measured and Indicated Resource as described in Table 17-9 of the Technical Report. The NSR Royalty shall be applicable to and imposed upon the gold produced from the North Oxide Mineral Zone and the North Sulfide Mineral Zone independently and separately of such Mineral Zones and the NSR Royalty applicable to and imposed elsewhere on the Property.

NSR ROYALTY. From 02 of June of 2016, up to date of press release announcing final commissioning of the Ollachea Mining Project, THE CLIENT be able to exercise its claw-back right paying in favour of THE ADVISOR the sum of USD 6,180,000.00 (Six Million One Hundred Eighty Thousand with 00/100 American Dollars), without including VAT, for every percentage unit (1%) of the NSR Royalties that will require to purchase. If THE CLIENT needs to acquire a percentage of less than a percentage unit (1%) of the NSR Royalty, the amount of the consideration will be reduced to a number that corresponds proportionately to the percentage of NSR effectively purchased by the customer. It is stated that that the minimum percentage of claw- back is half a percentage point (0.5

NSR ROYALTY. SPG will retain A net smelter return royalty on the Property ("NSR") once the Property goes into production. The terms of the NSR would be 2.5% on first 1.5 million ounces of gold produced and 5% on excess. The NSR will be evidenced by a royalty agreement delivered to you at Closing. The royalty agreement will contain a provision allowing us y to purchase, at a predetermined price, some or all of this royalty. We will need to arrive at a mutually acceptable agreement on royalty buy-out but there are many examples available to us.