Examples of Minimum Advance in a sentence
The Minimum Advance Royalty shall be paid for so long as this Lease is in force and without regard to mining, production or sale of minerals on or from the claims.
All cumulative Minimum Advance Royalty payments paid by Lessee to Lessor under this Lease will be credited against any Production Royalty due Lessor under section B of this Article V and any Production Royalty due Lessor after purchase of the claims under Article XXVIII.
The Minimum Advance requirement does not apply to interest accrued.
Lessee shall have as a credit against the purchase price all Production Royalty payments paid by Lessee to Lessor, except that the credit shall not include Minimum Advance Royalty payments which have not been recouped by Lessee from the payment of Production Royalty payments.
For the avoidance of doubt, after Borrower reduces the LTV ratio as a result of a Collateral Shortfall to be less than or equal to the Minimum Advance Rate or Mid-Point Advance Rate, as applicable, Borrower shall have no obligation to maintain the LTV Ratio at such Minimum Advance Rate or Mid-Point Advance Rate, as applicable, for so long as no subsequent Collateral Shortfall occurs.