Annual Volume

Annual Volume. For each 12 month period described in this definition (each such 12 month period an "Alternate Royalty Year") means: • [***] Barrels (corresponding to [***] in Alternate Royalty payments) during the 12 month period beginning on the Royalty Date; • [***] Barrels (corresponding to [***] in Alternate Royalty payments) during the 12 month period beginning on first anniversary of the Royalty Date; • [***] Barrels (corresponding to [***] in Alternate Royalty payments)... during the 12 month period beginning on the second anniversary of the Royalty Date; • [***] Barrels (corresponding to [***] in Alternate Royalty payments) during the period beginning on the third anniversary of the Royalty Date; and • [***] Barrels (corresponding to [***] in Alternate Royalty payments) during the period beginning on the fourth anniversary of the Royalty Date. View More