Common use of Rent and royalty Clause in Contracts

Rent and royalty. (1) Subject to the succeeding provisions of this clause the Company shall during the term of this Agreement pay to the State in each year— (a) a rent calculated at the rate of 62 cents for each hectare (and proportionately for part of a hectare) of the leased area; (b) in respect of each tonne of coal (not being unusable or unsaleable waste coal or rubbish) won from the leased area and used for the generation of electric power in connexion with the industries referred to in Recital I hereof or while the Company (whether alone or as part of a partnership or joint venture with others) is operating an aluminium smelting plant at Portland, a basic royalty at the rate of— (i) 38.7203 cents when the total quantity of such coal won in any year does not exceed one hundred and one thousand six hundred tonnes;

Rent and royalty. (1) Subject to the succeeding provisions of this clause the Company shall during the term of this Agreement pay to the State in each year— (a) a rent calculated at the rate of 62 cents for each hectare (and proportionately for part of a hectare) of the leased area; (b) in respect of each tonne of coal (not being unusable or unsaleable waste coal or rubbish) won from the leased area and used for the generation of electric power in connexion with the industries referred to in Recital I hereof or while the Company (whether alone or as part of a partnership or joint venture with others) is operating an aluminium smelting plant at Portland, a basic royalty at the rate of— (i) 38.7203 cents when the total quantity of such coal won in any year does not exceed one hundred and one thousand six hundred tonnes;—