Common use of ROYALTY IN KIND Clause in Contracts

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. 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 years 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. 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 each calendar year basis during the life of production from the Property. Notice of election to receive the following year’s '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 only in kindcash.

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 '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.