Sentence:  A 5 - percent royalty is paid on any production during the period the contract <WSD>is</WSD> in effect ; if the Government certifies that production may be possible from the property , the royalty obligation continues for the 10 - year period usually specified in the contract or until the Government 's contribution is repaid with interest . 
Meaning of the word marked with <WSD> tags:  have the quality of being; (copula, used with an adjective or a predicate noun)