production payment

production payment
A right to a specified sum of money or a specified amount of minerals, payable out of an agreed share of minerals produced or of proceeds from sale of minerals. If the right must continue over the entire term of a mineral lease, it is a royalty, not a production payment. United States v Morgan (CA5 Miss) 321 F2d 781.

Ballentine's law dictionary. . 1998.

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