Common use of Annual Plan Clause in Contracts

Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan. (b) Subject to paragraph (a) above, VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level. (c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, form the basis of mediation, and if necessary, expert determination (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan. (b) Subject to paragraph (a) above, above VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level. (c) Notwithstanding paragraphs paragraph (a) and (b) above but subject to clause 1513, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ VicForests to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zoneclause 4.3(a); and (ii) other costs that will be incurred by the Contractor associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(dparagraph (d), the matter may be referred by either Party to clause 19 for resolution in accordance with clause 19resolution. In this case, the matters set out in paragraphs 3.1(d)(i) and (iid)(ii) above shall, shall amongst other clauses, clauses form the basis of mediationmediation and, and if necessary, expert determinationarbitration. (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Haulage Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under contracts with other contracts contractors and its commitments under such contracts; (iii) sustainable forest management principles of by VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge Manager shall prepare and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as submit to the accuracy Executive Committee for approval a proposal (a “Proposed Annual Plan“) for the following items (collectively, if and to the extent approved by the Executive Committee in accordance with this Agreement, the “Annual Plan“) for the Company and each Subsidiary on an annual basis: (i) an operating budget (the “Operating Budget“) setting forth the estimated revenues and expenses (including variances and contingencies) of the information Company and each Subsidiary for the ensuing Calendar Year; (ii) a capital budget (the “Capital Budget“), which shall include the proposed capital expenditures (including variances and contingencies) relating to each Property and sources of funds in connection therewith, including the projected time for, and amount of, any projected Additional Capital Contributions to be required by the Members during the period covered by such budget; and (iii) a leasing budget and plan (including variances and contingencies) for each Property, and leasing guidelines for each Property which will include minimum and maximum length of lease terms and the minimum permissible “economics” of leases (to be specified as a net present value or another reasonable methodology incorporating factors such as minimum rental rates, brokerage commissions, tenant improvement costs, landlord contribution costs and free rent periods) (the area “Leasing Guidelines“). On or quantities indicated by an Annual Plan. (b) Subject prior to paragraph (a) abovethe date on which each of the Initial Properties is contributed to the Company, VicForests the Executive Committee shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in approve an Annual Plan is substantially for such Property which will be for the same period from the Property Contribution Date (as defined in the relevant Contribution Agreement) through December 31, 2005 (collectively, the “Initial Annual Supply Level. (c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15Plan“), VicForests shall include in an which Initial Annual Plan a quantity of Timber in respect of which shall be based upon the Contractor is 2004 stub period budget and the preliminary Annual Plan for 2005 for such Initial Property, approved by NYSTRS pursuant to provide Harvest Services that is at least 80% the Contribution Agreement. The Proposed Annual Plan for each subsequent Calendar Year of the Annual Supply Level Company shall be prepared by the Manager and submitted for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside approval by the Supply ZonesMembers, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments submission to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, form the basis of mediation, and if necessary, expert determination (f) VicForests shall provide the Contractor with a copy not later than November 1 of the initial Annual Plan at year prior to the Commencement Date for the purpose of the First Contract YearCalendar Year covered thereby. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge Seller shall on the date hereof and agree that prior to September 1 of each Calendar Year during the Term, complete and submit to Buyer a written delivery plan with respect to the Products to be made available for purchase by Buyer during the next Calendar Year (the “Annual Plan”). Said Annual Plan sets out indicative information only shall include estimates of delivery of the Products by Delivery Distances, month and VicForests provides no warranties or guarantees as accumulated into estimated quarterly deliveries. The Annual Plan shall set forth the quantity of Products Seller intends to make available to Buyer during the next Calendar Year, said quantities to be subject to the accuracy terms of the information or the area or quantities indicated by an Annual PlanArticle III. (b) Subject to paragraph Seller’s obligation to offer at least the minimum volumes required to be offered to Buyer pursuant to Section 3.1 below (athe “Minimum Volumes”): (i) above, VicForests all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included be made available in an said Annual Plan for Calendar Years 2006 through 2010; (ii) ninety percent (90%) of all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall be made available in said Annual Plan for Calendar Years 2011 through 2013; and (iii) eighty-five percent (85%) of all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall be made available in said Annual Plan for Calendar Years 2014 through 2016, and, if the Term is substantially the same as the relevant Annual Supply Levelextended pursuant to Section 5.2 below, for Calendar Years 2017 through 2019. (c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15, VicForests Buyer shall include in an within 30 days of receipt of said Annual Plan a quantity confirm with Seller the volumes of Timber in respect of which the Contractor is Products Buyer agrees to provide Harvest Services purchase from Seller during the next Calendar Year; provided, however, that is unless Seller agrees otherwise, Buyer must agree to purchase at least 80% ninety percent (90%) of the volumes set forth in the Annual Supply Level for that Contract Plan. Said agreed upon volumes shall then become in the aggregate the “Annual Volumes” Buyer agrees to purchase and Seller agrees to deliver in the next Calendar Year. (d) If VicForests requires the Contractor Following adoption of each Annual Plan (or as adjusted according to provide Services outside the Supply ZonesSection 2.3(c) above), the Parties parties shall negotiate act in good faith and each use their respective commercially reasonable efforts to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ to the Contractor. These may include: (i) costs implement such Annual Plan in accordance with relocating Equipment outside its terms. Products shall be delivered throughout the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution Calendar Year in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, form the basis of mediation, and if necessary, expert determination (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by for such year; provided, however, that during any Calendar Year, Seller may vary its deliveries, and Buyer may vary its purchases of Products, subject to Section 4.2 herein, as long as variations in delivery are immaterial and will not impair the commencement operations of the Annual Harvest Period for each Contract Year other than for Mill or the First Contract Yearoperations of Seller on the Timberlands. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan. (b) Subject to paragraph (a) above, above VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level. (c) Notwithstanding paragraphs paragraph (a) and (b) above but subject to clause 1513, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ VicForests to the Contractor. These may include:: (i) costs Costs in accordance with relocating Equipment outside the Supply Zoneclause4.3(a); and (ii) other costs that will be incurred by the Contractor associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(dparagraph (d), the matter may be referred by either Party to clause 17 for resolution in accordance with clause 19resolution. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, d)(ii)above shall form the basis of mediationmediation and, and if necessary, expert determinationarbitration. (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Haulage Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under contracts with other contracts contractors and its commitments under such contracts; (iii) sustainable forest management principles of by VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan. (b) Subject to paragraph (a) above, VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level. (c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ VicForests to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, shall form the basis of mediation, and if necessary, expert determination (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge Supplier shall at the Closing and agree that prior to September 1 of each Calendar Year during the Term, complete and submit to MeadWestvaco a written production and delivery plan with respect to the Products to be made available for purchase by MeadWestvaco during the next Calendar Year (the “Annual Plan”) covering matters such as the schedule for delivery of Products to the ▇▇▇▇▇ Mill, Cottonton Mill, the Other Facilities or such other locations serving the ▇▇▇▇▇ Mill or Cottonton Mill as MeadWestvaco reasonably directs. Said Annual Plan sets out indicative information only shall include estimates of delivery of the Products by month and VicForests provides no warranties or guarantees as accumulated into estimated quarterly deliveries. The Annual Plan shall set forth the quantity of Products Supplier intends to make available to MeadWestvaco during the next Calendar Year, said quantities to be subject to the accuracy terms of Article III and Section 10. 1. The Annual Plan shall also specify tracts on the Timberlands from which MeadWestvaco will be permitted, pursuant to the terms of the information or Master Stumpage Agreement, to harvest a minimum of 80,000 tons per Calendar Year of Pine Pulpwood Stumpage to be converted into the area or quantities indicated by an Annual Planform of in-▇▇▇▇▇ chips and such volumes of other Stumpage that occur on these same tracts. (b) Subject The following minimum volumes shall be made available in the Annual Plan: (i) 80% of the Pine Pulpwood and Hardwood Pulpwood to paragraph be harvested from the Timberlands during that Calendar Year (awhich in the case of Pine Pulpwood shall not be less than the volumes specified in Section 3.1; and (ii) above, VicForests shall use its reasonable endeavours so far as is reasonably practicable 50% of the Pine Sawlogs and Chip-n-Saw to ensure that be harvested from the quantity PLM portion of Timber included in an Annual Plan is substantially the same as Timberlands during each Calendar Year within the relevant Annual Supply Levelterm of the PLM leases. (c) Notwithstanding paragraphs (a) MeadWestvaco agrees to purchase and (b) above but subject Supplier agrees to clause 15, VicForests deliver in the next Calendar Year the Annual Volumes as specified in Article III. MeadWestvaco shall include in an within 30 days of receipt of said Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% confirm with Supplier any additional volumes of the Annual Supply Level for that Contract Products MeadWestvaco agrees to purchase from Supplier during the next Calendar Year. (d) If VicForests requires the Contractor Following adoption of each Annual Plan (or as adjusted according to provide Services outside the Supply ZonesSection 2.3(c) above), the Parties parties shall negotiate act in good faith and each use their respective reasonable best efforts to reach agreement on implement such Annual Plan in accordance with its terms. Products shall be delivered throughout the Calendar Year in accordance with the Annual Plan for such year; provided, however, that during any reimbursements Calendar Year, Supplier may vary its deliveries, and MeadWestvaco may vary its purchases of Products, subject to be paid by ▇▇▇▇▇Section 4.2 herein, as long as variations in delivery are immaterial and will not impair the operations of the ▇▇▇▇▇ Mill or Cottonton Mill or the operations of Supplier on the Timberlands from which the Products are supplied. Supplier and MeadWestvaco agree that representatives of each party will meet quarterly to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition review progress toward delivery of a unit rate add on Annual Volumes and to the Ratesreview pertinent production issues. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, form the basis of mediation, and if necessary, expert determination (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.

Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan. (b) Subject to paragraph (a) above, VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level. (c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year. (d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by ▇▇▇▇▇▇▇▇▇▇ VicForests to the Contractor. These may include: (i) costs in accordance with relocating Equipment outside the Supply Zone; and (ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates. (e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall, amongst other clauses, form the basis of mediation, and if necessary, expert determination. (f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year. (g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year. (h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to: (i) VicForests’ obligations to and requirements of VicForests’ customers; (ii) VicForests’ obligations under other contracts and its commitments under such contracts; (iii) sustainable forest management principles of VicForests; and (iv) VicForests’ commercial interests.