Below Mineral Acres Compensation Threshold Sample Clauses

Below Mineral Acres Compensation Threshold. If the total Net Mineral Acres to be conveyed to CNX under this Agreement, after taking into account the effect of Title Defects for which CNX timely delivered Title Defect Notice under Section 3.9 hereof, are less than the Mineral Acre Compensation Threshold, Peabody, at its election, and sole cost and expense shall, no later than the 30th day following receipt of a Title Defect Notice, except as to those Title Defects which CNX has agreed to waive and acquire the affected Peabody Oil and Gas Interests notwithstanding the Title Defects, promptly undertake one or more of the following with respect to each identified Title Defect: (i) diligently attempt to cure such Title Defect; (ii) offer mutually acceptable Replacement Interests; or (iii) pay CNX an amount equal to One-Hundred Dollars ($100.00) per Net Mineral Acre for each Net Mineral Acre less than the Mineral Acre Compensation Threshold after taking into account Title Defects which were waived by CNX, cured or removed by Peabody, or as to which Peabody has provided Replacement Interests, and such amount (the “Excess Title Defects Amount”) shall be included in the Final Adjustment Certificate; provided however, that in no event shall the Excess Title Defects Amount owed by Peabody, when added together with any CNX Environmental Defects Amount, exceed Four Million Eight Hundred Thousand Dollars ($4,800,000.00).
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Related to Below Mineral Acres Compensation Threshold

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