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. (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 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.
(2) Method of Production royalty payments shall be in U.S. dollars payable by cash or valid check drawn on available funds, and shall be deemed made when deposited at Lessor's single depository at: Paradise Management Co. X.X. Xxx 000 Xxxxxxxx, Xxxx 00000 Phone (801) 743--5848 Lessor may change its single depository at any time by giving written notice to Lessee.
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. (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 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.
(2) Method of Production royalty payments shall be in
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. 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:
(a) All charges and costs, if any, for transportation on Minerals to a smelter, refiner, consumer, or purchaser from Grantee or its agents;
(b) All charges, costs and penalties, if any, for smelting, refining and marketing the Minerals; and
(c) Grantor's proportionate share of all production related taxes. In the event smelting and/or refining are carried out in facilities owned or controlled by Grantee, charges, costs, and penalties for such operations, including transportation, shall mean the amount that Grantee would have incurred if such operations were carried out at facilities not owned or controlled by Grantee then offering comparable custom services for comparable products on prevailing terms. A production royalty or provisional royalty will be payable four (4) times each calendar year on or before the forty-fifth (45th) day following each calendar quarter based upon the net smelter returns received by Grantee during said quarter. The following adjustments shall be taken into account in determining the production royalty or provisional royalty payment:
(i) Any adjustments to prices, charges, costs, deductions, or expenses actually imposed upon or given to. Grantee but not taken into account in determining the production royalty for the preceding calendar quarter;
(ii) Any adjustments in the number of Ounces previously credited to Grantee by the purchaser, shipper, smelter, or refiner of Minerals shipped or sold by Grantee during any preceding calendar quarter; and
(iii) Any adjustments in mineral content and average percent recovery calculated pursuant to Section (2.) In the event smelting and /or refining are carried out in facilities owned or controlled by Lessee, charges, costs, and penalties for such operations, including transportation, shall mean the amount that Lessee would have incurred if such operations were carried out at facilities not, owned or controlled by Lessee then offering comparable custom services for comparable products on prevailing terms. A production royalty or provisional royalty payment made pursuant to...
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. (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.
(2) Method of Production royalty payments shall be in U.S. dollars payable by cash or valid check drawn on available funds, and shall be deemed made when deposited at LeSsor's single depository at: Paradise Management Co. X.X. Xxx 000 Xxxxxxx, Xxxx 00000 Phone (000) 000-0000 Lessor may change its single depository at any time by giving written notice to Lessee.
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.
