Reimbursement of Non-Deductible Crown Royalties. The Royalty Owner shall reimburse to the Grantor, ninety nine percent (99%) of all Non-Deductible Crown Royalties payable by the Grantor in respect of the Properties or the production of Petroleum Substances therefrom, provided that the Grantor may at its sole discretion elect to waive its right to any part of or all of such reimbursement. The Grantor shall be entitled to set off such reimbursable amounts against any Quarterly Royalty Payment or Monthly Royalty Payment.
Appears in 4 contracts
Samples: Royalty Agreement, Royalty Agreement (Paramount Energy Trust), Royalty Agreement (Paramount Energy Trust)
