Common use of Detailed Statement Clause in Contracts

Detailed Statement. All Royalty payments or credits shall be supported by a detailed statement to be provided at the time of payment (the “Detailed Statement”). The Detailed Statement for the Royalty payment with respect to any calendar quarter (including any In-Kind Quarterly Payment, Cash Quarterly Payment or payment by the Grantor pursuant to Section 1.4) shall set out all details related to the calculation of the Royalty for such calendar quarter, including the determination of Royalty Gold, the Beneficiated Royalty Gold, details of all charges, penalties and costs together with any available settlement sheets from the Payor, the Applicable Spot Gold Price, and all Data (as defined in Section 7.1 below) related to the determination of any of these factors relevant to the calculation of the Royalty.