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.
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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;
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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:
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Examples of Existing Royalty in a sentence

  • 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.

  • 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.

  • 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.

  • With respect to the Existing Royalty and IEP Royalty, the Company holds a right which, if exercised through a payment of $1,000,000, would vest in the Company 0.25% of the Existing Royalty (out of the total 2.0%) and 0.875% of the IEP Royalty (out of the total 1.75%).

  • Except as may arise under or pursuant to the Existing Royalty Agreements, the Borrower will not allow Marigold Mining Company to, create or suffer to exist any royalty, overriding royalty, production payment or other interest with respect to the Marigold Project.

  • Knowledge production has significant returns to scale, and its networking benefits will lead to better usability and higher market value as the num- ber of users grows.

  • Both the First Nations Royalty and the Existing Royalty will continue to apply.

  • In consideration of [XXX] Existing Royalty Obligations [XXX] will pay to [XXX] bear any other payments (license fees, milestone payments and royalties and so on) owed or to be owed to Third Parties other than their Affiliates with respect to patents or patent applications in the Licensed Territory, that are owned or controlled by such Third Parties and that would [XXX]on the basis [XXX] directed to [XXX].

  • This section further provides an analysis of how the benchmark T-bill rate is placed in the distribution of market trades.

  • 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 US$7,100,000 ($9,008,601).


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;
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Existing Royalty means the 1% net smelter returns royalty and certain other rights and obligations contemplated by the Royalty Agreement;
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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.
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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.
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Existing Royalty means the 2% net smelter returns royalty payable to Emerald Lake Development Corp. over the Property;
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Existing Royalty shall have the meaning ascribed to the term in Clause 2.2 herein.
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Related to Existing Royalty

  • Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

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

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

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • 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.

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Royalty Fee “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.

  • Sublicense Income means any payments that Company receives from a Sublicensee in consideration of the sublicense of the rights granted Company under Section 2.1., including without limitation license fees, royalties, milestone payments, and license maintenance fees, but excluding the following payments: (a) payments made in consideration for the issuance of equity or debt securities of Company at fair market value, and (b) payments specifically committed to the development of Licensed Products.

  • Royalty Interest is defined in Section 1.01.

  • Royalty means an interest in an oil and natural gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof) but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Sublicensing Revenue means all fees, royalties and other compensation paid to LICENSEE by any Sublicensee for performing any rights or licenses which are subject to this Agreement. If the compensation is other than cash, then the Sublicensing Revenue shall be the cash equivalent of such other than cash compensation.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Third Party Royalties means royalties payable by either Party to a Third Party in connection with the manufacture, use or sale of Franchise Products.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Royalty Agreement means the amended royalty agreement between the Partnership, Vermilion, 1209963 Alberta Ltd. and the Trust dated January 22, 2003 providing for the creation of the Royalty;

  • 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.

  • 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.

  • Net Smelter Returns means the gross proceeds received by the Purchaser in any year from the sale of Product from the mining operation on the Property, less successively: (i) the cost of transportation of such Product to a smelter or other place of treatment, and (ii) smelter and treatment charges;

  • Milestone Payments means, collectively, the Development Milestone Payments and Sales Milestone Payments.

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Licence Fees the fees to be paid by the Licensee to HKEX-IS pursuant to clause 5.2.

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Upfront Fees means, with respect to any Receivable, the sum of any fees charged by Holdings or the Receivables Account Bank, as the case may be, to a Receivables Obligor in connection with the disbursement of a loan, as set forth in the Receivables Agreement related to such Receivable, which are deducted from the initial amount disbursed to such Receivables Obligor, including the “Origination Fee” set forth on the applicable Receivable Agreement.

  • License Fees means the license fees, including all taxes thereon, paid or required to be paid by Licensee for the license granted under this Agreement.

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.