Common Contracts
1 similar Compensatory Royalty Agreement contracts
COMPENSATORY ROYALTY AGREEMENT Lease Dated (the "Lease") [Insert additional description if applicable] (the "Said Lands" or “Leased Lands”) Our File No: [Identify additional file no.’s as applicable]Compensatory Royalty Agreement • September 13th, 2016
As a result of negotiations regarding PrairieSky’s Notice of Default/Offset Notice dated Insert date (the “Default Notice/Offset Notice”), PrairieSky Royalty Ltd. (“Lessor”) is prepared to accept a compensatory royalty to remedy the offset obligations that are currently outstanding pursuant to the Lease a copy of which is attached hereto as Schedule “B”. Lessee Company Name (“Lessee”) and Lessor hereby agree that the offset obligation will be remedied by the payment of a compensatory royalty under the following terms and conditions set forth and agreed to herein (the “Agreement”):
