Common use of Net Smelter Return Royalty Clause in Contracts

Net Smelter Return Royalty. As of the date hereof, in connection with the transactions contemplated under the Stock Purchase Agreement, Bolsa does hereby grant convey, remise, release, and forever quitclaim unto ▇▇▇▇▇▇▇, its successors and assigns, a production royalty of three percent (3%) of the Net Smelter Returns (as herein defined) from all Crude Ores and Concentrates mined or otherwise recovered and removed from the Initial Bolsa Real Property Assets (the "Bolsa NSR"). The Bolsa NSR shall be determined as follows:

Net Smelter Return Royalty. As of the date hereof, in connection with the transactions contemplated under the Stock Purchase Agreement, Bolsa does hereby grant convey, remise, release, and forever quitclaim unto ▇▇▇▇▇▇▇, its successors and assigns, a production royalty (the "Bolsa NSR") of three percent (3%) of the Net Smelter Returns (as herein defined) from all Crude Ores and Concentrates mined or otherwise recovered and removed from mineral claims on the Initial Bolsa Real Property Assets. The "Net Smelter Return" on Crude Ore or Concentrates derived and sold by Bolsa from the Initial Bolsa Real Property Assets (the "Bolsa NSR"). The Bolsa NSR shall be determined as follows: