Common use of Payments and Statements Clause in Contracts

Payments and Statements. All Royalty payments, including provisional payments, will be calculated and paid, for each Calculation Period or part thereof, during the term of this Instrument, on or before the 20th day following each Calculation Period. Each such quarterly Royalty payment to the Royalty Holder shall be accompanied by a statement showing the manner in which the payment was calculated, including: (i) the quantity of of Products sold or deemed to have been sold with respect to such Calculation Period and the amount of proceeds received for such Products for such Calculation Period; (ii) the quantities of Products credited to the account of the Royalty Holder during such Calculation Period; (iii) the Average Metal Price for the Products sold or deemed to have been sold or credited to the account of the Royalty Holder, as the case may be; (iv) the calculation of the applicable Production Returns; and (v) if any commingling, as contemplated in Section 7, has occurred, a detailed summary of the determination by Owner of the quantity of Products commingled in accordance with Section 7. Each quarterly Royalty payment shall be subject to adjustment, as provided in Section 3(e) below, and such adjustment, if any, will be reflected in the next quarterly Royalty payment and reflected in the final report for the year is issued as specified in Section 3(f) below. Each quarterly Royalty payment shall be paid by Owner to the Royalty Holder in Canadian dollars in same day funds to such account at such bank as Royalty Holder shall designate to Owner.

Payments and Statements. All Royalty payments, including provisional payments, will be calculated and paid, for each Calculation Period or part thereof, during the term of this InstrumentAgreement, on or before the 20th day following each Calculation Period. Each such quarterly Royalty payment to the Royalty Holder shall be accompanied by a statement showing the manner in which the payment was calculated, including: (i) the quantity of of Products sold or deemed to have been sold with respect to such Calculation Period and the amount of proceeds received for such Products for such Calculation Period; (ii) the quantities of Products credited to the account of the Royalty Holder during such Calculation Period; (iii) the Average Metal Price for the Products sold or deemed to have been sold or credited to the account of the Royalty Holder, as the case may be; (iv) the calculation of the applicable Production Returns; and (v) if any commingling, as contemplated in Section 7, has occurred, a detailed summary of the determination by Owner of the quantity of Products commingled in accordance with Section 7. Each quarterly Royalty payment shall be subject to adjustment, as provided in Section 3(e) below), and such adjustment, if any, will be reflected in the next quarterly Royalty payment and reflected in the final report for the year is issued as specified in Section 3(f) below). Each quarterly Royalty payment shall be paid by Owner to the Royalty Holder in Canadian dollars in same day immediately available funds to such account at such bank as Royalty Holder shall designate to Owner.