Common use of Production Royalty Clause in Contracts

Production Royalty. The Production Royalty provided for in Section 2.2 of the Agreement and payable to Lessor shall be based upon: (a) the value of dor´e produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such dor´e, sold or deemed sold, determined by reference to published prices for refined gold and silver and other Precious Metals (as hereinafter defined), and (b) the value of all other Products produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such Product, sold or deemed sold, determined by reference to published prices for such “Other Products” all as hereinafter provided. It is acknowledged that it will be necessary to process, treat or upgrade Precious Metals or Other Products at a location or locations not on the Property before they are sold or deemed to be sold; and that to determine the value of such Precious Metals or Other Products of the Property or other facility producing dor´e or Other Products, all costs incurred or deemed to be incurred by Miranda in paying the Production Royalty with respect to the transporting, processing, treatment or upgrading of the Precious Metals or Other Products after they have been processed shall be deducted from the proceeds received or deemed to be received by Miranda as hereinafter set forth. Miranda shall pay to Lessor a Production Royalty as set forth in Section 2.2 of the Agreement as a percentage of the Net Value (as hereinafter defined) of Precious Metals or Other Products mined, removed and sold (or deemed sold as hereinafter described) from the Property. For purposes of this Agreement, the term “

Production Royalty. The Production Royalty provided for in Section 2.2 of the Agreement and payable to Lessor shall be based upon: (a) the value of dor´e dore produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such dor´edore, sold or deemed sold, determined by reference to published prices for refined gold and silver and other Precious Metals (as hereinafter defined), and (b) the value of all other Products produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such Product, sold or deemed sold, determined by reference to published prices for such “"Other Products” " all as hereinafter provided. It is acknowledged that it will be necessary to process, treat or upgrade Precious Metals or Other Products at a location or locations not on the Property before they are sold or deemed to be sold; and that to determine the value of such Precious Metals or Other Products of the Property or other facility producing dor´e dore or Other Products, all costs incurred or deemed to be incurred by Miranda in paying the Production Royalty with respect to the transporting, processing, treatment or upgrading of the Precious Metals or Other Products after they have been processed shall be deducted from the proceeds received or deemed to be received by Miranda as hereinafter set forth. Miranda shall pay to Lessor a Production Royalty as set forth in Section 2.2 of the Agreement as a percentage of the Net Value (as hereinafter defined) of Precious Metals or Other Products mined, removed and sold (or deemed sold as hereinafter described) from the Property. For purposes of this Agreement, the term “.

Production Royalty. The Production Royalty provided for in Section 2.2 of the Agreement and payable to Lessor shall be based upon: (a) the value of dor´e doré produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such dor´edoré, sold or deemed sold, determined by reference to published prices for refined gold and silver and other Precious Metals (as hereinafter defined), and (b) the value of all other Products produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such Product, sold or deemed sold, determined by reference to published prices for such “Other Products,” all as hereinafter provided. It is acknowledged that it will be necessary to process, treat or upgrade Precious Metals or Other Products at a location or locations not on the Property before they are sold or deemed to be sold; and that to determine the value of such Precious Metals or Other Products of the Property or other facility producing dor´e doré or Other Products, all costs incurred or deemed to be incurred by Miranda in paying the Production Royalty with respect to the transporting, processing, treatment or upgrading of the Precious Metals or Other Products after they have been processed shall be deducted from the proceeds received or deemed to be received by Miranda as hereinafter set forth. Miranda shall pay to Lessor a Production Royalty as set forth in Section 2.2 of the Agreement as a percentage of the Net Value (as hereinafter defined) of Precious Metals or Other Products mined, removed and sold (or deemed sold as hereinafter described) from the Property. For purposes of this Agreement, the term “

Production Royalty. The Production Royalty provided for in Section 2.2 of the Agreement and payable to Lessor shall be based upon: (a) the value of dor´e doré produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such dor´edoré, sold or deemed sold, determined by reference to published prices for refined gold and silver and other Precious Metals (as hereinafter defined), and (b) the value of all other Products produced from ores and minerals mined from the Property, determined at the Property or at such other facility producing such Product, sold or deemed sold, determined by reference to published prices for such “Other Products” all as hereinafter provided. It is acknowledged that it will be necessary to process, treat or upgrade Precious Metals or Other Products at a location or locations not on the Property before they are sold or deemed to be sold; and that to determine the value of such Precious Metals or Other Products of the Property or other facility producing dor´e doré or Other Products, all costs incurred or deemed to be incurred by Miranda in paying the Production Royalty with respect to the transporting, processing, treatment or upgrading of the Precious Metals or Other Products after they have been processed shall be deducted from the proceeds received or deemed to be received by Miranda as hereinafter set forth. Miranda shall pay to Lessor a Production Royalty as set forth in Section 2.2 of the Agreement as a percentage of the Net Value (as hereinafter defined) of Precious Metals or Other Products mined, removed and sold (or deemed sold as hereinafter described) from the Property. For purposes of this Agreement, the term “.