Common use of Payment of Royalties Clause in Contracts

Payment of Royalties. The initial royalty payments due under this Lease shall be made on or before 120 calendar days following the last day of the month in which first sales occur from a well on the Leased Premises or lands pooled/unitized therewith. Thereafter, the royalties required to be paid to Lessor under this Lease shall be due and payable monthly on or before the last day of the third calendar month following the month of production. Each royalty payment shall be accompanied by a check stub, schedule, summary or remittance identifying this Lease and, at a minimum, showing the Lessor’s interest in the unit shown as a decimal; the total volume of each product subject to the royalty statement (e.g. a separate listing for Oil and Gas); and the price or value of the Oil and Gas on which the Lessee is calculating its royalty payments. If such data is available in electronic or digitized form, then Xxxxxx agrees to deliver same to Lessor electronically. Unless otherwise herein expressly provided, any royalties or other payments provided for in this Lease which are not paid to Lessor within the time period specified therefor shall accrue interest at the prime interest rate plus five percent (5%) from the due date until paid; provided, however, that in no event shall interest be due on disputed royalties. Acceptance by Xxxxxx, its successors, agents or assigns, of royalties which are past due shall not act as a waiver or estoppel of its right to receive or recover any and all interest due thereon under the provisions hereof.

Payment of Royalties. The initial royalty payments due under this Lease shall be made on or before 120 calendar days following the last day of the month in which of first sales occur from a well on the Leased Premises or lands pooled/unitized therewith. Thereafter, the royalties required to be paid to Lessor under this Lease shall be due and payable monthly on or before the last day of the third calendar month following the month of production, i.e., quarterly royalty payments. Each royalty payment shall be accompanied by a check stub, schedule, summary or remittance identifying this Lease and, at a minimum, showing the Lessor’s interest in the unit shown as a decimal; the total volume of each product subject to the royalty statement (e.g. a separate listing for Oil and Gas); and the price or value of the Oil and Gas on which the Lessee is calculating its royalty payments; and, the name and address of all entities to which Lessee sold or otherwise transferred any all Oil and Gas subject to this Lease, including Affiliates. If such data is available in electronic or digitized form, then Xxxxxx agrees to deliver same to Lessor electronically. Unless otherwise herein expressly provided, any royalties or other payments provided for in this Lease which are not paid to Lessor within the time period specified therefor shall accrue interest at the prime interest rate plus five percent (5%) from the due date until paid; provided, however, that in no event shall interest be due on disputed royalties. Acceptance by Xxxxxx, its successors, agents or assigns, of royalties which are past due shall not act as a waiver or estoppel of its right to receive or recover any and all interest due thereon under the provisions hereof.

Payment of Royalties. The initial royalty payments due under this Lease shall be made on or before 120 calendar days following the last day of the month in which whichof first sales occur from a well on the Leased Premises or lands pooled/unitized therewith. Thereafter, the royalties required to be paid to Lessor under this Lease shall be due and payable monthly on or before the last day of the third calendar month following the month of production, i.e., quarterly royalty payments. Each royalty payment shall be accompanied by a check stub, schedule, summary or remittance identifying this Lease and, at a minimum, showing the Lessor’s interest in the unit shown as a decimal; the total volume of each product subject to the royalty statement (e.g. a separate listing for Oil and Gas); and the price or value of the Oil and Gas on which the Lessee is calculating its royalty payments; and, the name and address of all entities to which Lessee sold or otherwise transferred any all Oil and Gas subject to this Lease, including Affiliates. If such data is available in electronic or digitized form, then Xxxxxx agrees to deliver same to Lessor electronically. Unless otherwise herein expressly provided, Lessee any royalties or other payments provided for in this Lease which are not paid to Lessor within the time period specified therefor shall accrue interest at the prime interest rate plus five percent (5%) from the due date until paid; provided, however, that in no event shall interest be due on disputed royalties. Acceptance by Xxxxxx, its successors, agents or assigns, of royalties which are past due shall not act as a waiver or estoppel of its right to receive or recover any and all interest due thereon under the provisions hereof.