ROYALTY IN KIND. (a) At the state's option, which may be exercised from time to time upon not less than 50 days' notice to the lessee, the lessee shall deliver all or a portion of the state's royalty oil, gas, or associated substances produced from the leased area in kind. Delivery will be on the leased area, unit area, or at a place mutually agreed to by the state and the lessee, and must be delivered to the State of Alaska or to any individual, firm, or corporation designated by the state.
ROYALTY IN KIND. NEWMONT may elect to receive its Production Royalty on Precious Metals from the Property "in cash" or "in kind" as refined bullion. The elections may be exercised once per year on a calendar year basis during the life of production from the Property. Notice of election to receive the following year's Production Royalty for Precious Metals in cash or "in kind" shall be made in writing by NEWMONT and delivered to BUYER on or before November 1 of each year. In the event no written election is made, the Production Royalty for Precious Metals will continue to be paid to NEWMONT as it its then being paid. As of the date of this Agreement, NEWMONT elects to receive its Production Royalty on Precious Metals "in kind". Royalties on Other Minerals shall not be payable "in kind". (1) If NEWMONT elects to receive its Production Royalty for Precious Metals in "in kind", NEWMONT shall open a bullion storage account at each refinery or mint designated by BUYER as a possible recipient of refined bullion in which NEWMONT owns an interest. NEWMONT shall be solely responsible for all costs and liabilities associated with maintenance of such account or accounts, and BUYER shall not be required to bear any additional expense with respect to such "in-kind" payments. (2) Production Royalty will be paid by the deposit of refined bullion into NEWMONT's account. On or before the 25th day of each calendar month following a calendar month during which production and sale or other disposition occurred, BUYER shall deliver written instructions to the mint or refinery, with a copy to NEWMONT directing the mint or refinery to deliver refined bullion due to NEWMONT in respect of the Production Royalty, by crediting to NEWMONT's account the number of ounces of refined bullion for which Production Royalty is due; provided, however, that the words "other disposition" as used in this Agreement shall not include processing, milling, beneficiation or refining losses of Precious Metals. The number of ounces of refined bullion to be credited will be based upon NEWMONT's share of the previous month's production and sale or other disposition as calculated pursuant to the commingling provisions of section 9(f) hereof. (3) Production Royalty payable "in kind" on silver or platinum group metals shall be converted to the gold equivalent of such silver or platinum group metals by using the average monthly spot prices for Precious Metals described in section 9(a) hereof. (4) Title to refined bullion deli...
ROYALTY IN KIND. To pay royalty in kind upon receiving 30 days written notice from the Lessor. Royalty oil shall be delivered in tanks provided by the Lessee on the premises where produced without cost to the Lessor unless otherwise agreed to by the parties hereto, at such times as may be required by the Lessor. However, Lessee shall not be required to hold such royalty oil in storage for a period of more than thirty (30) days. In addition, Lessee shall be in no manner responsible or held liable for loss or destruction of such oil in storage caused by acts of nature. Accounting for royalty taken in kind shall be the responsibility of the MMS. Royalty gas shall be delivered by the Lessee to a mutually acceptable place in the Lessee's pipeline at no cost to the Lessor.
ROYALTY IN KIND. Lessor may elect to take all or any part of its royalty in kind at any time by giving Xxxxxx sixty (60) days written notice of such election. Lessor has the right to specify the point of delivery for Produced Substances, which, at Xxxxxx’s sole discretion, may be at the wellhead, at the separator, into a pipeline connected at the well, or at the location Lessee sells its production, or Lessor and Lessee may specify another mutually agreeable location. Lessee will bear to the point of delivery all Costs and Expenses related to the Produced Substances delivered to Lessor. Lessor’s election to take its royalty in kind will not modify or limit Xxxxxx’s duty to pay monetary royalties as provided herein or to market any Produced Substances not taken in kind. If Lessor elects to take its royalty in kind, Xxxxxx and Xxxxxx agree to negotiate in good faith for additional agreements necessary and useful including, but not limited to, a gas balancing agreement.
ROYALTY IN KIND. Newmont may elect to receive its Royalty on Precious Metals from the Property “in cash” or “in kind” as refined bullion. The election may be exercised once per year on a calendar year basis during the life of production from the Property. Notice of election to receive the following year’s Royalty for Precious Metals in cash or in kind shall be made in writing by Newmont and delivered to Grantor on or before November 1 of each year. In the event no written election is made, the Royalty for Precious Metals will continue to be paid as it is then being paid. As of the date of this Deed, Newmont elects to receive its Royalty on Precious Metals “in cash.” Royalties on Other Minerals shall not be payable in kind.
ROYALTY IN KIND. (A) If and to the extent that the Royalty Owner in any of Seller’s oil and gas leases (including the State of Alaska) elects to take its Royalty in Kind under applicable laws, regulations, unit, or lease terms, then Seller will have the right, in its sole discretion, to reduce Seller’s obligations under this Agreement in proportion to the amount of Seller’s Gas which has been taken as Royalty in Kind.
ROYALTY IN KIND. Lessee shall pay cash royalties based on the value of the gross production from the Premises, unless Lessor elects to receive royalty in kind. Lessee shall pay oil or gas royalty, or both, in kind at the option of Lessor. Lessor may exercise its option to take oil or gas royalty in kind, or if royalty is taken in kind, Lessor may elect to take cash royalties, at any time or from time to time by giving Lessee notice of such election not less than sixty (60) days in advance. If Lessor elects to take its royalty production in kind, Lessor may elect to have the royalty production delivered in kind at the wellhead, at the oil and gas separator, into a pipeline connected at the well, at the location Lessee sells its production, or at another location mutually acceptable to Lessor and Lessee. Lessee shall bear all costs to the point of delivery.
ROYALTY IN KIND. 2.1.1 The Republic of Suriname shall open a bullion storage account at each refinery or mint designated by Surgold as a recipient of production of Precious Metals from Mines. The Republic of Suriname shall be solely responsible for all costs and liabilities associated with maintenance of such accounts, and Surgold shall not be required to bear any additional expense with respect to such in-kind payments.
ROYALTY IN KIND. Lessor expressly reserves the right, but not the obligation, to take its royalty share of production of Leased Substances in kind after not less than thirty (30) days written notice to Xxxxxx. For natural gas, Lessee shall deliver Lessor’s royalty share of production, free of costs or deductions, into the pipeline or transmission system to which the xxxxx of Lessee are connected. For oil, Lessee shall deliver Lessor’s royalty share of production, free of costs or deductions, into Lessor’s storage tanks. In the event that Xxxxxx’s royalty oil must be delivered into Lessee’s tanks, Lessee shall not be required to furnish storage for Xxxxxx’s royalty oil for more than thirty (30) days following the month of production.
