362.105 - “Royalty” defined. - Nevada Statutes

362.105  “Royalty” defined.  As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:

      1.  “Royalty” means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.

      2.  “Royalties” do not include:

      (a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or

      (b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.

      (Added to NRS by 1975, 135; A 1989, 35)