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.
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