Advance Minimum Royalty definition

Advance Minimum Royalty means that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. However, payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner. These advance minimum royalty payments shall be in lieu of any obligation on the part of Lessee, express or implied, to explore, develop, mine, or perform any work on or in connection with the Property.
Sample 1Sample 2
Advance Minimum Royalty means payments made by Juneau to Tetlin in accordance with Section 3.2(b) hereof.
Sample 1Sample 2
Advance Minimum Royalty. Each Anniversary of Effective Date While this Lease Remains in Effect: Fifty Thousand Dollars ($50,000); and Each such payment of Advance Minimum Royalty shall be deemed a payment toward production royalties from the Subject Property. The obligation to make such annual Advance Minimum Royalty payments under this Section 3.2(b) shall terminate upon the commencement of commercial production, provided that Juneau shall be obligated to resume such payments if it subsequently suspends commercial production for more than one hundred eighty (180) consecutive days.
Sample 1Sample 2

Examples of Advance Minimum Royalty in a sentence

  • The method of calculating the “U.S. Dollar Equivalent” for Advance Minimum Royalty silver shall be the same as that for calculating the “U.S. Dollar Equivalent” using gold above in Article 3, using the appropriate base price for silver.

  • Within any one (1) calendar year, Lessee may use one hundred percent (100%) of that calendar year’s Advance Minimum Royalty Payment as credit against Production Royalties due Lessor within that calendar year.

  • If the total dollar amount of Production Royalties due Lessor within that calendar year exceed the dollar amount of the Advance Minimum Royalty Payment due Lessor within that calendar year, Lessee can credit all uncredited Advance Minimum Royalty Payments made in previous years against fifty percent (50%) of the Production Royalties due Lessor within that calendar year.

  • Further, such release shall not cause or result in any diminution of Lessee’s obligations regarding confidentiality, Advance Minimum Royalty, Production Royalty or Work Requirements described below.

  • For the purpose of this Lease, the “U.S. Dollar Equivalent” referred to in Article 3 shall be for gold that is at least ninety-nine and ninety-five one-hundredths percent (99.95%) pure, and shall be determined by the average of the London afternoon fixing as published in the Wall Street Journal (or its recognized successor in the publication of gold and silver quotations) for the third calendar quarter preceding January 1 of the year in which the Advance Minimum Royalty payment is due.

  • No partial termination under this Article 16 shall, however, cause a reduction in the amounts of any of the Advance Minimum Royalty and Production Royalty payments set forth in Article 3 and 4 or the Work Requirements set forth in Article 5.

  • It is mutually agreed that Lessor shall be solely responsible for payment of its own taxes attributable to Advance Minimum Royalty payments or Production Royalty payments to Lessor under this agreement.

  • Mining Lease (15 year initial term, and so long thereafter as commercial production continues) • Advance Minimum Royalty: Payments of USD150,000 in years 1-3, USD200,000 in years 4-5 and USD400,000 for year 6 and beyond (unless a feasibility study has been completed).

  • Lessee shall pay to Lessor advance minimum royalties in the amounts and at the times listed below (each, an “Advance Minimum Royalty Payment”); provided, however, that if this Lease is terminated prior to the due date for the payment of any such Advance Minimum Royalty Payment, Lessee shall have no obligation to make any further Advance Minimum Royalty Payments, the due dates of which occur after such termination.

  • Mining Lease (15 year initial term, and so long thereafter as commercial production continues) • Advance Minimum Royalty: Payments of USD 150,000 in years 1-3, USD 200,000 in years 4-5 and USD 400,000 for year 6 and beyond (unless a feasibility study has been completed).


More Definitions of Advance Minimum Royalty

Advance Minimum Royalty. (i) $50,000 on each anniversary of Effective Date prior to July 15, 2012 while this Mineral Lease remains in effect;
Sample 1
Advance Minimum Royalty means the required annual payment to be made by USMX to NPMC as provided in Section 6 of this Agreement.
Sample 1
Advance Minimum Royalty means that Owner will receive no production royalties (Section 1.4 below) until Lessee has recaptured all advance minimum royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year, had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.
Sample 1

Related to Advance Minimum Royalty

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Royalty Fee means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Net Invoice Price means the price paid by You for Your Vehicle including all factory fitted accessories and any discount given but excluding retailer fitted accessories, road fund licence, new vehicle registration fee, fuel, paintwork and / or upholstery protection kits, insurance premiums (including this Premium), warranty premiums and any such associated costs and any Negative Equity.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Calendar Quarter means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Sales Milestone Payment has the meaning set forth in Section 8.3.1.

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Maximum allowable cost list means a list of drugs for

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.