Common use of METHOD OF PAYMENT OF ROYALTY Clause in Contracts

METHOD OF PAYMENT OF ROYALTY. All Royalty payments made by Optionee to Optionor shall be due and payable every 60 days by wire transfer, cashiers check, money order or by cash to Optionor representative in person or by delivery to Optionor address for notice purposes. Optionee shall be obligated to deliver only a single check or payment, and Optionee shall have no responsibility for disbursement or distribution of any payment after receipt of payment by the payee. Optionee shall deliver to Optionor a statement showing the amount of production Royalty due and the manner in which it was determined and shall submit to Optionor data reasonably necessary to enable Optionor to verify the determination.

METHOD OF PAYMENT OF ROYALTY. All Royalty payments made by Optionee to Optionor shall be due and payable every 60 days by wire transfer, cashiers check, money order or by cash to Optionor representative in person or by delivery to Optionor address for notice purposes. Optionee shall be obligated to deliver only a ~ single check or payment, and Optionee shall have no responsibility for disbursement disbursement-' or distribution of any payment after receipt of payment by the payee. Optionee shall deliver shaU.-4eliSer to Optionor a statement showing the amount of production Royalty due and the manner in which it was determined and shall submit to Optionor data reasonably necessary to enable Optionor to verify the determination.