Common use of Royalty under Mineral Royalty Act Clause in Contracts

Royalty under Mineral Royalty Act. (1) The Company shall not, by virtue only of this Agreement, be exempt from rent, royalty, duties, fees, levies, taxes or any other impost except as may be provided in this clause 5. (2) Royalty shall be payable in respect of the Merlin Project in accordance with the provisions of the Mineral Royalty Act, and, for the purpose of calculating such royalty, the Mineral Royalty Act is modified to the extent necessary to give effect to this clause. (3) For the purposes only of determining gross realization and operating costs in respect of the Merlin Project: (a) the production unit is to be treated as though it includes the treatment and sorting facility or facilities at Perth in the State of Western Australia used by the Company for the purposes of the Merlin Project; and (b) the saleable mineral commodity is to be deemed to have left the production unit at the time that treatment and sorting at the treatment and sorting facility or facilities at Perth are complete. The Company shall, within twenty-eight (28) days of commencement of this Agreement, and within twenty-eight