Existing Royalty definition

Existing Royalty means a 1.5% net smelter return royalty payable on minerals produced from the Property, payable to the royalty holder pursuant to a prior agreement.

Existing Royalty means a 2% net smelter returns royalty on the leased patented claims that comprise a portion of the Mineral Rights granted to Xxxxxxxxx X. Xxxxxxxx pursuant to a mining lease and option to purchase dated June 2, 2005 and made between Xxxxxxxx and Maximus Ventures Ltd. ("Maximus"), as assigned by Maximus to Xxxxxx Xxxx Gold LLC ("Xxxxxx") pursuant to an assignment and assumption agreement dated March 18, 2006 and further assigned by Xxxxxx to Timberwolf Minerals Ltd. ("Timberwolf") pursuant to an assignment and assumption agreement dated February 12, 2008, and further assigned by Timberwolf to ISC Copper Systems Ltd. pursuant to an assignment and assumption agreement dated August 29 2010;

Existing Royalty means the 1.2% net smelter return royalty granted in favour of Franco-Nevada Corporation on production in excess of 503,386 ounces of gold and 17,907,080 ounces of silver pursuant to:

Examples of Existing Royalty in a sentence

• Existing Royalty Purchase Agreement On May 15, 2020, the Company entered into a Contract of Promise of Sale (the “Existing Royalty Purchase Agreement” or “ERPA”) with a group of individuals in Chile to purchase the existing royalty applied to the sale of all locatable minerals produced from certain concessions that form part of the Initial Properties for a purchase price ranging from US$6,800,000 to US$7,600,000.

• Existing Royalty Relief: Nothing herein is intended to limit the availability of royalty reductions to either the oil and gas or coal lessees under other circumstances that would qualify for such relief under existing regulations and guidance.

• It is anticipated that the Existing Supply Annual Caps and the Existing Royalty Annual Caps for the three financial years ending 31 March 2014, 2015 and 2016 and for the period from 1 April 2016 and ending on 1 July 2016 will be insufficient to cater for the now expected increase in sale of the relevant products and the corresponding increase in the patent royalty payable by NEC Newco to NEC pursuant to the NEC Patent Licence Agreement.

• An existing 0.75% net smelter return royalty payable in relation to the Kroussou Project to a third party which can be bought back for US$250,000 (Existing Royalty), has been novated from BAT to Trek as part of the acquisition.

• The Company will fund the payment for the Existing Royalty Purchase Agreement from proceeds received as part of the Royalty Agreements with RCF.

• On June 25, 2020 the Company entered into the Existing Royalty Purchase Agreement to purchase the existing royalty applied to the sale of all locatable minerals produce from certain concessions that form part of the Initial Properties.

• An existing 0.75% net smelter return royalty payable in relation to the Kroussou Project to a third party which can be bought back for US$250,000 ( Existing Royalty), was novated from BAT to Trek as part of the acquisition.

• The Directors propose to increase the Existing Supply Annual Caps and the Existing Royalty Annual Caps for the three financial years ending 31 March 2014, 2015 and 2016 and for the period from 1 April 2016 and endingon 1 July 2016.

• Chowdhury,N (1989,“The Changing Fo d System:Storage,Transport,Marketing and DistributionIsues”,Fo dStrategiesinBangladesh,Medium andLongTerm Perspective, Plan ingCommisionGovernmentofBangladesh,UniversityPres Limited.

• This Assignment and Acceptance is being executed and delivered pursuant to, inter alia: (i) Sections 9.6.3 and 9.6.4 of the Existing Credit Agreement; (ii) Section 13.4 of the Existing Production Payment Agreement; (iii) Section 13 of the Existing Ontario Subordination Agreement; (iv) Section 5.02 of the Existing Colombia Subordination Agreement; (v) Section 4.1 of the Existing NSR Agreement; (vi) Section 7.7 of the Existing Royalty Purchase Agreement; and(vii) Section 13.07 of the Existing Mining Pledge.

More Definitions of Existing Royalty

Existing Royalty means the 1% net smelter returns royalty and certain other rights and obligations contemplated by the Net Smelter Returns Royalty Agreement dated January 7, 2010 among Kennecott Exploration Company, Kennecott Arctic Company, Alaska Gold Company and NovaGold Resources Inc. and assigned to MF2, LLC by Kennecott Exploration Company and Kennecott Royalty Company pursuant to a Royalty Assignment and Assumption Agreement effective December 28, 2012;

Existing Royalty means the six percent (6.0%) net smelter return royalty payable pursuant to that Settlement Agreement and Release between LKA and Au Mining, Inc., dated August 24, 2007 and that Royalty Agreement dated August 24, 2007 executed by LKA (attached as Exhibit E to the Settlement Agreement and Release (collectively “Settlement Agreement”). As set forth in the Settlement Agreement, the Existing Royalty has a cap of $12,647,505.00. LKA represents and warrants that, as of the Effective Date of this Agreement, it has paid $275,690.96 in royalties pursuant to the Settlement Agreement, and has otherwise complied with the terms of the Settlement Agreement. To LKA’s knowledge, all requirements of the Settlement Agreement that have become or are due have been satisfied.

Existing Royalty means the 2% net smelter returns royalty payable to Emerald Lake Development Corp. over the Property;

Existing Royalty means the 1% net smelter returns royalty and certain other rights and obligations contemplated by the Royalty Agreement;

Existing Royalty means the aggregate 3% net smelter return royalty on the Property and any After-Acquired Interest granted in accordance with the terms and conditions of the Royalty Agreement.