Right to Take in Kind. From and after the Commencement of Commercial Production, the Royalty Holder may elect to receive the Royalty on gold and silver in kind by physical delivery of gold and/or silver bullion for any payment hereunder, by notifying Owner of its election on or before December 1 in the preceding calendar year. An election by the Royalty Holder to receive the Royalty in kind shall be irrevocable for the calendar year for which it is made. Failure of the Royalty Holder to notify Owner by December 1 of its election to take the Royalty in kind shall be deemed a waiver by the Royalty Holder of all rights to take the Royalty in kind during the following calendar year. Owner shall provide at least 15 days' prior notice to the Royalty Holder of the name and location of the refinery and the date or dates on which the bullion will be delivered and Royalty Holder shall open an account with such refinery. If the Royalty Holder elects to take in kind, the Owner shall deliver written instructions to the refinery, with a copy to Royalty Holder, directing the refinery to deliver the number of ounces of gold or silver bullion for which the Royalty is due in respect of the relevant period by crediting such amount to the Royalty Holder's account. . If the Royalty Holder desires Owner to deliver the bullion to it at a place other than the place of refining, the Royalty Holder shall reimburse Owner for the costs incurred by Owner in making such delivery, which costs include transportation and insurance. If and to the extent the Royalty is paid in kind and does not reflect the Allowable Deductions that are incurred and deductible in calculating the Royalty under this Instrument, then the Royalty Holder shall remit to the Owner the full amount of such Allowable Deductions. Such costs and/or Allowable Deductions shall be payable by the Royalty Holder to Owner within 15 days of receipt by the Royalty Holder of Owner's invoice. If the Royalty Holder fails or refuses to pay such costs and/or Allowable Deductions, Owner shall have a security interest in and may deduct such defaulted costs and charges from any future Royalty payments due to the Royalty Holder. Title to the bullion delivered to the Royalty Holder under this Instrument shall pass to the Royalty Holder at the time such bullion is credited to the Royalty Holder at the refinery or other location directed by the Royalty Holder.
Right to Take in Kind. If and to the extent a portion of Owner’s Oil Production is not committed to the fulfillment of, or has been used to fulfill, the Commitments under or pursuant to the Commitment Agreements (such portion of Owner’s Oil Production hereinafter being referred to as “Owner’s Excess Oil Production”), Owner shall have the right, upon the delivery thereof to the applicable Delivery Point, to market Owner’s Excess Oil Production at and from the Delivery Points; provided, however, such right may only be exercised by Owner if and to the extent the same is not prohibited by applicable law or the terms and conditions of the Commitment Agreements and if and to the extent Owner’s exercise of such right will not cause the Xxxxxxx Parties to fail to meet any Commitments under any of the Commitment Agreements. Notice of Owner’s intent to exercise such right to take in kind shall be in the form of a written notice from Owner to the Xxxxxxx Parties given at least twelve (12) months before the date that Owner desires to take a specific amount of Owner’s Excess Oil Production in kind. In the event of any such exercise of entitlement, Owner will retain title to Owner’s Excess Oil Production at the Delivery Points, transport and market such Owner’s Excess Oil Production, and be responsible for the payment of royalty and severance taxes, and any other taxes based on production, on such Owner’s Excess Oil Production, and all costs and expenses associated with the transportation and marketing from such Delivery Points of such Owner’s Excess Oil Production.
Right to Take in Kind. (a) Subject to the Title and Operating Documents, the Royalty Owner shall be entitled to take in kind all, but not less than all, of the Royalty Share of Production for any Month or Quarter, only if, prior to such Month or Quarter as the case may be:
Right to Take in Kind. Grantee shall have the right to elect from time to time upon not less than one (1) months' prior written notice to Grantor to take its Royalty share of production in kind. Any such election may be changed from time to time, but Grantee shall not be entitled to make elections under this paragraph at intervals of less than six months. Grantee shall bear any expense attributable to the installation of separate facilities or otherwise necessitated by its election under this paragraph. If Grantee exercises its right to take Royalty production in kind, Grantor shall deliver such production to Grantee at the first onshore meter, and Grantee shall be solely responsible for arranging post-meter treating, transporting and marketing. If Grantee fails to make such arrangements or if Grantor has reasonable concerns in respect of the safety of the arrangements made by Grantee or regarding interference with Grantor's operations, then Grantor may suspend Grantee's right to take in kind until appropriate arrangements have been made and all safety and operational concerns have been resolved
Right to Take in Kind. The Payee may give notice to the Payor at any time indicating its desire to receive the Royalty in the form of one of the Mineral Products produced from the Property, provided:
Right to Take in Kind. (a) The Royalty Owner shall own and may take in kind or separately dispose of the Royalty share of Petroleum Substances. Subject to the expiry of the term of any existing contracts for the sale of Petroleum Substances, the Royalty Owner may, by giving 30 days written notice to Payor, elect to take its Royalty share of Petroleum Substances, in kind and on a similar notice, the Royalty Owner may revoke its election but this election shall not be exercised by the Royalty Owner at intervals less than six (6) months from the previous election.
Right to Take in Kind. Each PARTY shall have the right to take in kind or separately dispose of its share of the oil and gas produced and saved from the LEASE.
Right to Take in Kind. (a) Subject to the terms of the Title and Operating Documents and compliance with section 2.5(e), if the Grantor is insolvent, the Royalty Owner shall have the right to take all (but not less than all) of the Royalty Share of Production for a Month in kind and separately dispose of them provided that:
Right to Take in Kind. The Holder shall have the option, but not the obligation, to elect from time to time upon not less than ten (10) days’ prior written notice to the Company to take the Revenue Sharing Payment in the form of an equivalent value of Petroleum Substances in kind, in respect of any one or more of the Petroleum Substances. Any such election may be changed from time to time by the Holder. If the Holder exercises its right to take Revenue Sharing Payment production in kind, the Company shall, at no cost to the Holder, remove all basic sediment or other impurities and water from the applicable Petroleum Substances so as to render the same fit for acceptance by pipelines or rail or rail tankers in accordance with good industry practice, and shall also, at no cost to the Holder, provide up to thirty (30) calendar days’ storage of such Petroleum Substances.
Right to Take in Kind. In lieu of receiving the production royalty payments specified in Section 5.1, Owner shall have the right to elect to take in kind and separately dispose of her pro rata share of production (based on the percentage of Newt Smelter Return roxxxxx xx xxxch Owner is entitled) in the form in which Hanover ships or sells its own product by giving written notice to Hanover of such election; provided that as to gold dore or other form of gold refined by or shipped directly by Hanover to a refinery, Hanover shall deliver Owner's share in the form of gold bullion. The right to take in kind shall be subject to the following conditions: (i) no such election shall be for a period of less than six (6) consecutive calendar months; (ii) the right to take in kind shall commence on the first day of the calendar quarter next following the date twenty (20) days after Owner has given written notice of her election to take in kind; (iii) Owner shall pay (or reimburse Hanover if paid by Hanover) all transportation, treatment and handling charges and costs incurred for that portion of production which Owner takes in kind; and (iv) all loss, risk, cost and expense incurred from and after the point in time at which Hanover ships or makes such product available for shipment from the Property shall be borne by Owner.
