Royalty definition

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.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Royalty has the meaning set forth in Section 3.1.

Royalty means an interest, including an overriding royalty and a net profits interest, in gross production or the proceeds therefrom which does not require the owner thereof to bear any of the cost of production, development, operation or maintenance.

Examples of Royalty in a sentence

• Licensee shall keep complete and accurate books and records of its sales of Licensed Products as reasonably necessary for such Royalty calculations.

• Notwithstanding the foregoing, the portion of any P&I Advance equal to the CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account but shall be deposited into the Collection Account for payment to CREFC® on such Distribution Date.

• Notwithstanding the foregoing, the portion of any P&I Advance equal to the CREFC® Intellectual Property Royalty License Fee shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account but shall be deposited into the applicable Collection Account for payment to CREFC® on such Distribution Date.

• With each payment of Royalties Licensee shall submit to Licensor a statement showing the calculation of the Royalty due in the relevant calendar quarter.

• The Royalty shall be calculated as the gross cash flows from the sale of Licensed Products, less any documented expenses in the preceding calendar quarter.

More Definitions of Royalty

Royalty means an interest in an oil and 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. Royalties may be either landowner's royalties, which are reserved by the owner of the leased acreage at the time the lease is granted, or overriding royalties, which are usually reserved by an owner of the leasehold in connection with a transfer to a subsequent owner.

Royalty has the meaning set forth in Section 4.1.

Royalty has the meaning set forth in Section 2(a).

Royalty means a payment made as a consideration for the use of or the right to use—

Royalty has the meaning set forth in Section 8.4.2.

Royalty shall have the meaning ascribed in Section 4 below.

Royalty means any amount, paid in money or in kind, in respect of Mines and Minerals produced by a Person holding an Existing Mineral Right, but not including any payment made for a service, for the creation of special purposes funds, for the issuance of a right or interest or for the granting of an approval or authorization, any payment required regardless of the ownership of the Mines and Minerals, or any payment for incentives.