Net Returns for a Calendar Quarter in respect of all of the Products means the Returns less the Allowable Deductions.
Net Returns means for any period the amount of earned revenues actually paid to and received by Xxxxx by any refinery or other purchaser of metals, ores, minerals or mineral substances, or concentrates produced therefrom for products mined from the Property, less all of the following.
Net Returns means the Gross Returns from any and all ores, metals, minerals and materials of every kind and character found in, on or under the Claims (“Valuable Minerals”), extracted, produced and sold or deemed to have been sold from the Claims, less all Allowable Deductions.
Examples of Net Returns in a sentence
SMMI currently holds a 75% interest in the South Mountain Project and has the right to acquire the remaining 25% upon satisfying a 5% Net Returns Royalty capped at US$5,000,000 which is due on or before November 3, 2026.
Such payments shall be accompanied by a statement summarizing the computation of Net Returns and copies of all relevant settlement sheets.
Net Returns shall be calculated for each calendar quarter in which Net Returns are realized, and payment as due hereunder shall be made within 30 days following the end of each such calendar quarter.
Kitrinor will have the sole and exclusive right and option to purchase 1% of the Royalty (such that the remaining Royalty shall be reduced to 2% of Net Returns) for a price equal to the Reduction Price of $1,500,000.
Net Returns Royalty (“NR”) – Doyle leasesDuring the year ended November 30, 2013, the Company sold 9 of its mineral leases and 2 reinstated leases, including Bob Camp, to Kennady Diamonds Inc.
More Definitions of Net Returns
Net Returns means the Gross Value received by the Grantor from the sale or other disposition of Minerals, less the following expenses incurred by the Grantor with respect to such Minerals after they leave the Property, as the case may be:
(i) actual charges for treatment in the smelting and refining process (including handling, assaying, processing, penalties, impurity charges, metal losses and other processor deductions);
(ii) actual sales, marketing and brokerage costs;
(iii) any sales, severance, gross production, privilege or similar taxes assessed on or in connection with the sale or other disposition of Minerals, except any income taxes, either Federal or Provincial, based on the value of the Minerals; and
(iv) actual costs of transportation (including freight, insurance, security charges, transaction taxes, import and export duties, levies, imposts, handling, port, demurrage, delay, stowage and forwarding expenses incurred by reason of or in the course of such transportation) of such Minerals, to the mill, smelter or other purchaser, user or customer. The Grantor shall be permitted to sell concentrates in the form usually commercially marketable to an Affiliate of the Grantor provided that such sales shall be considered, solely for the purpose of computing Net Returns, to have been sold at prices and on terms no less favourable than those which would be extended to an unaffiliated third party in a bona fide arm's length transaction under similar circumstances. Similarly, if the Grantor or an Affiliate of the Grantor incurs costs that are deductible or treats the Minerals in a smelter that the Grantor or the Affiliate of the Grantor owns or controls, the Grantor or the Affiliate of the Grantor may deduct treatment charges and costs, but only to the extent they are no more than the amount that the Grantor or the Affiliate of the Grantor would have charged an unaffiliated third party in a bona fide arm's length transaction under similar circumstances;
Net Returns means the total consideration , in any form, including equity, receivable by the Managing Party from third parties based on exploiting the Project IP minus all IP Protection and Commercialisation Costs incurred by the Managing Party, but excluding research funds received from third parties for further development of the Project IP.
Net Returns inventory previously sold that has been returned to warehouses designated and owned, leased or otherwise controlled by the Borrower and its Subsidiaries for investigation and/or repair of claimed defects.
Net Returns means Gross Proceeds (as defined in Section 2.3(a) below) less Costs and Expenses (as defined in Section 2.3(b) below).
Net Returns means the Gross Value received by the Grantor from the sale or other disposition of Minerals, less the following expenses incurred by the Grantor with respect to such Minerals after they leave the Property, as the case may be:
(i) actual charges for treatment in the smelting and refining process (including handling, assaying, processing, penalties, impurity charges, metal losses and other processor deductions);
(ii) actual sales and brokerage costs;
(iii) any sales, severance, gross production, privilege or similar taxes assessed by the provincial or federal government on or in connection with the sale or other disposition of Minerals but excluding any and all taxes based upon the net or gross income of the Grantor or other operator of the Property, the value of the Property or the privilege of doing business, and other taxes assessed on a similar basis; and
(iv) actual costs of transportation (including freight, insurance, security charges, transaction taxes, import and export duties, levies, imposts, handling, port, demurrage, delay, stowage and forwarding expenses incurred by reason of or in the course of such transportation) of such Minerals, to the mill, smelter or other point of sale. The Grantor shall be permitted to sell concentrates in the form usually commercially marketable to an Affiliate of the Grantor provided that such sales shall be considered, solely for the purpose of computing Net Returns, to have been sold at prices and on terms no less favourable than those which would be extended to an unaffiliated third party in a bona fide arm’s length transaction under similar circumstances. Similarly, if the Grantor or an Affiliate of the Grantor incurs costs that are deductible or treats the Minerals in a smelter that the Grantor or the Affiliate of the Grantor owns or controls, the Grantor or the Affiliate of the Grantor may deduct treatment charges and costs, but only to the extent they are no more than the amount that the Grantor or the Affiliate of the Grantor would have charged an unaffiliated third party in a bona fide arm’s length transaction under similar circumstances;
Net Returns means:
(i) in the case of ores, minerals, or other products which are sold by Navigator in the crude state, the amount received by Navigator from the purchaser of the ores, minerals, or other products, less the following items to the extent borne by Navigator: sales, severance, and other similar taxes and charges for and taxes on transportation from the mine to the place of sale,
(ii) in the case of ores, minerals, or other products which are processed by or for the account of Navigator and sold as concentrates or other intermediate products, the amount received by Navigator from the purchaser of the concentrates or other intermediate products, less the following items to the extent borne by Navigator: sales, severance, and other similar taxes, purchaser's smelter or other processing charges or costs, and charges for and taxes on transportation from the plant producing the concentrates or other intermediate products to the place of sale,
(iii) in the case of ores, minerals or other products which are processed by or for the account of Navigator to produce concentrates or other salable intermediate products which are smelted or otherwise further processed by or for the account of Navigator, the market value of the concentrates or other salable intermediate products f.o.
Net Returns has the meaning established in Exhibit B.