Common use of Production Royalties Clause in Contracts

Production Royalties. Upon commencing production of valuable minerals from the Property, Lessee shall pay Owner a royalty on production equal to three percent (3.0%) of net smelter returns from the Original Claims, and one percent (1.0%) of net smelter returns from the New Claims. The term “net smelter returns” shall mean the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee:

Production Royalties. Upon commencing production of valuable minerals from the Property, Lessee shall pay Owner a royalty on production equal to three four percent (3.04 %) of net smelter returns from the Original Claims, and one percent (1.0%) of net smelter returns from the New Claimsreturns. The term “net smelter returns” shall mean the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee:

Production Royalties. Upon commencing production of valuable minerals from the Property, Lessee shall pay Owner a royalty on production equal to three percent (3.03%) of net smelter returns from the Original Claims, and one percent (1.0%) of net smelter returns from the New Claimsreturns. The term “teen "net smelter returns” " shall mean the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee:

Production Royalties. Upon commencing production of valuable minerals from the Property, Lessee shall pay Owner a royalty on production equal to three 2.5 percent (3.02.5%) of net smelter returns from the Original Claims, and one percent (1.0%) of net smelter returns from the New Claimsreturns. The term “net smelter returns” shall mean the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee:

Production Royalties. Upon commencing production of valuable minerals from the Property, Lessee shall pay Owner a royalty on production equal to three percent (3.03%) of net smelter returns from the Original Claims, and one percent (1.0%) of net smelter returns from the New Claimsreturns. The term “"net smelter returns” " shall mean the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee: