Production Royalty Payments. (1) Production royalty shall be paid within thirty (30) days after receipt of payment for each shipment or when otherwise due, and each payment shall be accompanied by a statement AMENDMENT AGREEMENT ------------------- November 09 , 1992 Page 8 of 20 showing the date(s) of shipment(s), quantity and value of each shipment, to whom sold and the gross value received, and any cost deductions.
Production Royalty Payments. All payments of Production Royalty shall be made no later than forty-five (45) days after the end of each calendar month in which Bitumen Oil Product or any byproducts or other Minerals have been sold. Such payment shall be accompanied by a royalty settlement statement that will show the mathematical calculation of how the payment amount was calculated, including the credit for Advance Royalties paid, and will be accompanied by appropriate documentation, including copies of sales records, monthly mining and processing records, actual transportation costs to third party buyers, and annual summaries. If Lessor does not give Lessee written notice objecting to any Production Payment within six months of receipt of the statement, it shall be conclusively deemed correct. All royalty settlement statements shall be delivered to Lessor and payments to the designated Depository Agent.
Production Royalty Payments. Section 23(c) of the Lease is hereby amended by deleting the first three sentences following the Production Royalty table therein, and replacing those sentences with the following:
Production Royalty Payments. Production royalty payments must be received by Lessor on or before the 30th day of the month following production. If the 30th day is a Saturday, Sunday, or holiday the royalty payment is due on or before the next business day. Each royalty payment must be accompanied by a check stub, schedule, summary, or other payment information showing the Lease number and the amount of royalty being paid under the Lease.
Production Royalty Payments. All payments of Production Royalty shall be made no later than forty-five (45) days after the end of each calendar month in which Bitumen Product or any byproducts or other Minerals have been sold. Such payment shall be accompanied by a royalty settlement statement that will show the mathematical calculation of how the payment amount was calculated, and will be accompanied by appropriate documentation, including copies of sales records, monthly mining and processing records, and annual summaries. If Sublessor does not give Sublessee written notice objecting to any Production Payment within six months of receipt of the statement, it shall be conclusively deemed correct except if during the quarterly measurement of mined Minerals there is a discrepancy between what was stockpiled, processed, or sold, the review period is extended to obtain the correct balance. All royalty settlement statements shall be delivered to Sublessor and payments to the Depository Agent as designated hereinafter.
Production Royalty Payments. Grantee shall pay Grantor a net smelter returns ("NSR") production royalty of five percent (5 %) all ores, minerals and mineral products hereinafter referred to as "Minerals") mined from the Property and sold by Grantee. The net smelter returns shall be the amount actually received by Grantee from the sale of Minerals produced from the Property, less the following costs to the extent actually incurred and borne by Grantee:
Production Royalty Payments. All payments of Production Royalty shall! e made no later than forty-five (45) days after the end of each calendar month in which Bitumen Oil Product or any byproducts or other Minerals have been sold. Such payment shill be accompanied by a royalty settlement statement that will show the mathematical calculation of how the payment amount was calculated, including the credit for Advance Royalties paid, and will be accompanied by appropriate documentation, including copies of sales records, monthly mining and processing records, actual transportation costs to third party buyers, and annual summaries. If Lessor does not give’ Lessee written notice objecting to any Production Payment within six months of receipt of the statement, it shall be conclusively deemed correct except if during the quarterly measurement of mined Minerals there is a discrepancy between what was stockpiled, processed, or sold, the review period is extended to obtain the correct balance (See Section f(i)). All royalty settlement statements shall be delivered to Lessor and payments to the designated Depository Agent.
Production Royalty Payments. All payments of Production Royalties are due forty-five (45) days after the end of each calendar quarter (being 45 days after March 31, June 30, September 30, and December 31) and will be accompanied by a royalty settlement statement which will show the mathematical calculation of how the payment amount was calculated and will be accompanied with other appropriate documentation showing attributable cost deductions and sales records. Pursuant to the License, if PGEI has not issued written notice objecting to the payment amount within one (1) year, it shall be conclusively deemed correct. In case of any dispute or question concerning the ownership of the royalty under this Agreement, or any part thereof, Crown Asphalt may, at its election, deposit any disputed amounts into an interest bearing escrow account until the dispute is finally and conclusively resolved. Crown Asphalt may deduct from the escrow deposits and from amounts otherwise due the owner of the royalty which is disputed or in question, all costs and expenses, including attorneys' fees, it actually incurs by reason of such dispute or question.
Production Royalty Payments
