Common use of Royalty Schedule Clause in Contracts

Royalty Schedule. Lessee shall pay Lessor a Net Smelter Royalty (NSR) on all development and production ores and minerals extracted, milled, and sold from the Leased Premises as shown in the following table: Value Per Ton NSR $200/per ton or less 2% More than $201/ton up to $300/ton 3% More than $301/ton up to $400/ton 4% More than $401/oz up to $1000/ton 5% More than $1001/per 6.5%

Royalty Schedule. Lessee shall pay Lessor a Net Smelter Royalty (NSR) on all development and production ores and minerals extracted, milled, and sold from the Leased Premises as shown in the following table: Value Per Ton NSR $200/per ton or less 2% More than $201/ton up to $300/ton 3% More than $301/ton up to $400/ton 4% More than $401/oz up to $1000/ton 5% More than $1001/per 6.5%% Shall be amended to read:

Royalty Schedule. Lessee shall pay Lessor a Net Smelter Royalty (NSR) on all development and production ores and minerals extracted, milled, and sold from the Leased Premises as shown in the following table: Value Per Ton NSR $200500/per ton or less 2% More than $201/ton up to $300/500 per ton 3% More than $301/ton up to $400/ton 4% More than $401/oz up to $1000/ton 5% More than $1001/per 6.5%