Ad Valorem Royalty definition
Ad Valorem Royalty means a royalty in respect of net sales revenues resulting from petroleum producing activities determined in accordance with paragraphs 7.7 and 7.10 to 7.14.
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Related to Ad Valorem Royalty
Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.
Royalty Payments has the meaning set forth in Section 7.3.1.
Sales Taxes means Alternative Revenues.
Minimum Royalty means the minimum royalties set forth in Schedule 1. Each Party represents and warrants that: it has the full legal right, power, and authority to execute, deliver, and perform its obligations under this Agreement, and has taken or will take all necessary actions to do so; and its performance of this Agreement constitutes legally binding obligations and will not result in: (i) a breach or default under any agreement or commitment to which it is a party or by which it is bound; or (ii) a violation of any applicable law, regulation, court order, or government directive.
Royalty Payment has the meaning set forth in Section 6.1.