Calculation of Royalty. If and for so long as the Net Profits Royalty is payable in respect of the Properties, <@> shall calculate, as of the end of each calendar quarter ending after the date of commencement of Commercial Production on each of the <@> Properties, the Gross Revenue, Expenditures and Net Profits for each of the <@> Properties for such quarter.
Appears in 3 contracts
Sources: Share Purchase Agreement (Till Capital Ltd.), Arrangement Agreement (Till Capital Ltd.), Share Purchase Agreement (Till Capital Ltd.)