Base Price. 3.1.1 The price per ton (2000 pounds) of coal sold by Seller hereunder (the “Base Price”) shall be determined in accordance with this Article 3. The Base Price for Contract Year 2015 shall be [**]. 3.1.2 As of January 1st of each Contract Year thereafter, until the Base Price is re-set in accordance with Section 3.4, the Base Price shall be increased by [**] over the Base Price in effect during the prior Contract Year. After the Base Price is re-set in accordance with Section 3.4, the Base Price for each successive Contract Year thereafter shall be increased by [**] over the Base Price in effect during the prior Contract Year until the Base Price is re-set again in accordance with Section 3.4.
Appears in 6 contracts
Samples: Coal Supply Agreement (Vectren Utility Holdings Inc), Coal Supply Agreement (Vectren Utility Holdings Inc), Coal Supply Agreement (Vectren Utility Holdings Inc)
