Common use of Royalty Credit for Advance Minimum Royalty Payments Paid Clause in Contracts

Royalty Credit for Advance Minimum Royalty Payments Paid. All Advance Minimum Royalty Payments paid by Lessee to Lessor shall constitute prepayment of and advance against Production Royalties (as defined in Article 4) thereafter accruing to Lessor under Article 4 during the term of this Lease. Within any one (1) calendar year, Lessee may use one hundred percent (100%) of that calendar year’s Advance Minimum Royalty Payment as credit against Production Royalties due Lessor within that calendar year. If the total dollar amount of Production Royalties due Lessor within that calendar year exceed the dollar amount of the Advance Minimum Royalty Payment due Lessor within that calendar year, Lessee can credit all uncredited Advance Minimum Royalty Payments made in previous years against fifty percent (50%) of the Production Royalties due Lessor within that calendar year.

Royalty Credit for Advance Minimum Royalty Payments Paid. All Advance Minimum Royalty Payments paid by Lessee to Lessor the Payment Agent shall constitute prepayment of and advance against Production Royalties (as defined in Article 4) thereafter accruing to Lessor under Article 4 during the term of this Lease. Within any one (1) calendar year, Lessee may use one hundred percent (100%) of that calendar year’s Advance Minimum Royalty Payment as credit against Production Royalties due Lessor within that calendar year. If the total dollar amount of Production Royalties due Lessor within that calendar year exceed the dollar amount of the Advance Minimum Royalty Payment due Lessor within that calendar year, Lessee can credit all uncredited Advance Minimum Royalty Payments made in previous years against fifty percent (50%) of the Production Royalties due Lessor within that calendar year.

Royalty Credit for Advance Minimum Royalty Payments Paid. All Advance Minimum Royalty Payments Royalties paid by Lessee to Lessor shall constitute prepayment of and advance against Production Royalties (as defined in Article 4) thereafter accruing to Lessor under Article 4 during the term of this Lease. Within any one (1) calendar year, Lessee may use one hundred percent (100%) of that calendar year’s Advance Minimum Royalty Payment payment as credit against Production Royalties due Lessor within that calendar year. If the total dollar amount of Production Royalties due Lessor within that calendar year exceed the dollar amount of the Advance Minimum Royalty Payment payment due Lessor within that calendar year, Lessee can credit all uncredited Advance Minimum Royalty Payments payments made in previous years against fifty percent (50%) of the Production Royalties due Lessor within that calendar year.

Royalty Credit for Advance Minimum Royalty Payments Paid. All Advance Minimum Royalty Payments paid by Lessee to the Payment Agent or Lessor shall constitute prepayment of and advance against Production Royalties (as defined in Article 4) thereafter accruing to Lessor under Article 4 during the term of this Lease. Within any one (1) calendar year, Lessee may use one hundred percent (100%) of that calendar year’s Advance Minimum Royalty Payment as credit against Production Royalties due Lessor within that calendar year. If the total dollar amount of Production Royalties due Lessor within that calendar year exceed the dollar amount of the Advance Minimum Royalty Payment due Lessor within that calendar year, Lessee can credit all uncredited Advance Minimum Royalty Payments made in previous years against fifty percent (50%) of the Production Royalties due Lessor within that calendar year.