Production Payment. The “Production Payment” is paid on top of the Minimum Price. It is determined by reference to the total milk solids (fat and protein) supplied by the Supplier to Riverina Fresh during the term of this Agreement. Production Payments will be made for every kilogram of milk solids supplied at the relevant band (based on total kilograms of milk solids) reached by the Supplier for the month. The Production Payment will be made monthly in arrears and is payable on the combined total milk solids supplied by the Supplier for the month. Applicable GST will be added to the amounts below. Butterfat & Protein / month Approximate litres* c/kg Butterfat c/kg Protein 2,001 – 5000 kg 28001 - 70,000 5.0 11.0 5,001 – 9,000 kg 70,001 – 125,000 10.0 22.0 9,001 – 14,000 kg 125,001 – 195,000 12.0 26.0 14,001 – 19,000 kg 195,001 – 264,000 17.0 37.0 19,001 kg – 24,000 kg 264,001 – 333,000 21.0 46 .0 24,001 kg – 35,000 kg 333,001 – 486,000 25.0 55.0 35,0001 kg and above 486,001 and above 30.0** 66.0** * Actual payments are based on Butterfat & Protein ** The numbers for 35,0001kg and above represent minimum amounts.
Production Payment. (a) At any time after the Closing if Purchaser acquires (either from its own acquisition or through assignment from Seller pursuant to Section 8.8) good title (determined in Purchaser’s sole discretion) to any Additional Interest located in Section 12, T. 17 N., R. 3 W., then Purchaser shall notify Seller in writing of the date on which such acquisition was completed (the “Acquisition Date”).
(b) After the Acquisition Date, Purchaser shall pay Seller an amount each calendar month equal to 3 percent of the Net Revenue received by Purchaser from production for such month from any new well drilled in such Section 12 on which actual drilling operations are commenced after the Acquisition Date (but excluding any workovers or recompletions on xxxxx existing prior to the Acquisition Date), until payments to Seller under this Section 8.9 equal $350,000. Amounts due hereunder shall be paid not later than 45 days after the last day of each calendar month for which payments are due.
(c) For purposes of this Section 8.9, “Net Revenue” shall mean all revenues from oil, gas and other hydrocarbons produced, saved and sold from any new well on Section 12, after deducting therefrom all operating and marketing costs, landowner royalties, overriding royalties, any other burdens on production, and all taxes on such production.
Production Payment. On or prior to the fifth (5th) Business Day after the commencement of commercial production of the Mining Concessions, Purchaser shall pay US$2,500,000 in cash to Vendor (the “Production Payment”).
Production Payment. 3.1.1 Buyer shall grant, transfer, assign and convey to Seller a "Production Payment" with regard to Buyer's oil production from or attributable to the Segregated Lease (or any extension, renewal or replacement of the Segregated Lease acquired hereafter by Buyer or a parent, subsidiary or affiliate of Buyer). Said Production Payment shall be conveyed by an instrument in form and substance similar either to Exhibit "F-3" or Exhibit "F-4" hereto, as applicable pursuant to Section 3.2 or 3.3, and is to be calculated on a calendar year basis, in accordance with Exhibits "C" and "D" attached hereto. Buyer shall pay such Production Payment to Seller on or before a date thirty (30) days after the end of the calendar year to which such payment applies, or on or before a date sixty (60) days after the discontinuation of Production Payments as provided in Section 3.2 hereof.
Production Payment. The price that Candeo shall pay to Can-Cal per ton of Material (“Production Payment”) removed by Candeo (or its assign or assigns) from the Property shall be equal to the greater of:
(i) fifteen US dollars (US$15.00) per ton; and
(ii) the Net Sales Margins per ton removed from the Property by Candeo (or its assign or assigns) realized as follows:
(a) during the first year of mining, 35% of the Net Sales Margins; and
(b) thereafter, 50% of the Net Sales Margins. Candeo (or its assign or assigns) shall pay such Production Payment to Can-Cal from time to time no later that 120 days after the subject Material has been removed from the Property.
Production Payment. Production Payment" means the interest in production from the Burdened Leases that is attributable to the interest of REI, as set forth in that certain Memorandum of Production Payment between Progress Fuels North Texas Gas, L.P. and REI, dated February 24, 2003 and recorded in the Official Records of Denton, Tarrant and Wise Counties, Texas.
Production Payment. 2 Section 2.1 Amount and Term of Production Payment.......................2 Section 2.2 Application of Production Payment...........................3 Section 2.3 Non-Cost-Bearing Interest...................................3 Section 2.4
Production Payment. The purchase price that Candeo shall pay to Supplier per ton of the Finished Material (“Production Payment”), in accordance with Paragraph 8 hereof, shall be equal to the greater of:
(i) 33 1 3% of the Net Sales Margins; and
Production Payment. Alpha shall agree at Closing to make a monthly payment equal to three percent (3%) of the net revenue stream (to be calculated as agreed to in the 2020 PSA) from any new xxxxx (not workovers, restarts, or recompletions) drilled in the Project area after the Closing until such time as Kadence shall have accrued US$800,000.00 from such new xxxxx (the “Production Payment”). Together, the Option Payment, Production Payment, and Project Payment shall satisfy the Purchase Price as defined in Article II (2.3) of the 2019 PSA.
Production Payment. If Buyer timely makes the Buyer Payment described in Section 3.1 above and performs the obligations described in Sections 4.1, 4.2 and 4.3 above, and, thereafter, whether prior to or after Payout, production of Petroleum Substances from the Subject Property exceeds 20 barrels of oil per day (and for purposes of this clause 6mcf of natural gas shall equal 1 barrel of oil) for a continuous period of no less than 30 days, then provided that Buyer has received a Title Opinion or Buyer is otherwise satisfied with title to the Subject Property, Buyer shall each month thereafter for a period of 12 months pay to Seller out of its net share of the proceeds from the sale of Petroleum Substances produced from the Subject Property a payment of $5,000 (for an aggregate payment obligation of $60,000). Each such payment shall be made by no later than the 25th day of the following month. The Buyer’s obligation for this production payment, and Seller’s reservation thereof, shall be set forth in the Term Assignment and in the Final Assignment, if made. For greater certainty, if the net revenues from the Subject Property are not sufficient to permit the $5,000 payment in any one month, the payment obligation for that month shall be suspended until the next month in which net revenues are sufficient to permit such $5,000 payment.
