Common use of Budgeting and Accounting for Reclamation and Water Treatment Clause in Contracts

Budgeting and Accounting for Reclamation and Water Treatment. (i) Within 45 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from the Effective Date through December 31, 2016. (ii) Within 120 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, based on the approved Reclamation Schedule, reflecting the Reorganized Debtors' reasonable best efforts to project estimated expenditures from the Restricted Cash Accounts on account of reclamation, mitigation and water treatment and management expenses at the Mining Complex through December 31, 2018 (the "Long-Term Budget"). (iii) On or before December 1, 2016, the Reorganized Debtors shall provide to the Department a budget (the "Semi-Annual Budget"), subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from January 1, 2017 through June 30, 2017. The Reorganized Debtors shall revise and update the Semi-Annual Budget for each ensuing six-month period by no later than 30 days prior to the conclusion of the current period (or on such schedule as may otherwise be agreed upon by the Reorganized Debtors and the Department). (iv) The Reorganized Debtors shall provide to the Department accountings of its Free Cash Flow and actual-to-budgeted expenditures from the Restricted Cash Accounts within 30 days after the end of each Quarterly Period. Such accountings shall be certified as to their accuracy by a senior officer of the Reorganized Debtors. (v) The Reorganized Debtors shall meet with the Department on a quarterly basis: (1) to review reclamation and water treatment progress, the Long-Term Budget and the current Semi-Annual Budget; (2) to provide updates on reclamation and water treatment spending from the Restricted Cash Accounts; and (3) to discuss other matters relevant to their obligations to fund such accounts.

Budgeting and Accounting for Reclamation and Water Treatment. (i) Within 45 days after the Effective Date, the Reorganized Debtors shall provide to the Department OSMRE an initial budget, subject to approval by the DepartmentOSMRE, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts Reclamation Trust during the period from the Effective Date through December 31, 2016. (ii) Within 120 days after the Effective Date, the Reorganized Debtors shall provide to the Department OSMRE an initial budget, based on the approved Reclamation Schedule, reflecting the Reorganized Debtors' reasonable best efforts to project estimated expenditures from the Restricted Cash Accounts Reclamation Trust on account of reclamation, mitigation and mitigation, water treatment and management expenses at the Mining TCC Complex through December 31, 2018 (the "Long-Term Short‑Term Budget"). (iii) On or before December 1, 2016, the Reorganized Debtors shall provide to the Department OSMRE a budget (the "Semi-Annual Budget"), subject to approval by the DepartmentOSMRE, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts Reclamation Trust during the period from January 1, 2017 through June 30, 2017. The Reorganized Debtors shall revise and update the Semi-Annual Budget for each ensuing six-month six‑month period by no later than 30 days prior to the conclusion of the current period (or on such schedule as may otherwise be agreed upon by the Reorganized Debtors and OSMRE). OSMRE shall have 30 days to approve or disapprove each Semi‑Annual Budget from the Department)date of its receipt by OSMRE. In the event OSMRE does not approve or disapprove any Semi‑Annual Budget within such 30-day period, the Semi‑Annual Budget shall be deemed approved, and the Reorganized Debtors shall be reimbursed from funds in the Reclamation Trust with respect to any expenditures during such 30‑day period that are made in accordance with such Semi‑Annual Budget. (iv) The Reorganized Debtors shall provide to the Department OSMRE accountings of its Free Cash Flow and actual-to-budgeted actual‑to‑budgeted expenditures from the Restricted Reclamation Cash Accounts Account and reimbursements from the Reclamation Trust within 30 days after the end of each Quarterly Period. Such accountings shall be certified as to their accuracy by a senior officer of the Reorganized Debtors. (v) The Reorganized Debtors shall meet with the Department OSMRE on a quarterly basis: (1) to review reclamation and water treatment progress, the LongShort-Term Budget and the current Semi-Annual Semi‑Annual Budget; (2) to provide updates on reclamation and water treatment spending from the Restricted Cash AccountsAccount or the Reclamation Trust; and (3) to discuss other matters relevant to their its obligations to fund such accountsaccount.

Budgeting and Accounting for Reclamation and Water Treatment. (i) Within 45 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from the Effective Date through December 31, 2016. (ii) Within 120 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, based on the approved Global Reclamation ScheduleAgreement, reflecting the Reorganized Debtors' ’ reasonable best efforts to project estimated expenditures from the Restricted Cash Accounts on account of reclamation, mitigation and water treatment and management expenses at all Reclaim-Only Sites in the Mining Complex Commonwealth through December 31, 2018 (the "“Long-Term Budget"”). (iii) On or before December 1, 2016, the Reorganized Debtors shall provide to the Department a budget (the "“Semi-Annual Budget"”), subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from January 1, 2017 through June 30, 2017. The Reorganized Debtors shall revise and update the Semi-Annual Budget for each ensuing six-month period by no later than 30 days prior to the conclusion of the current period (or on such schedule as may otherwise be agreed upon by the Reorganized Debtors and the Department). (iv) The Reorganized Debtors shall provide to the Department accountings of its Free Cash Flow and actual-to-budgeted expenditures from the Restricted Cash Accounts within 30 days after the end of each Quarterly Period. Such accountings shall be certified as to their accuracy by a senior officer of the Reorganized Debtors. (v) The Reorganized Debtors shall meet with the Department on a quarterly basis: (1) to review reclamation and water treatment progress, the Long-Term Budget and the current Semi-Annual Budget; (2) to provide updates on reclamation and water treatment spending from the Restricted Cash Accounts; and (3) to discuss other matters relevant to their obligations to fund such accounts.

Budgeting and Accounting for Reclamation and Water Treatment. (i) Within 45 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from the Effective Date through December 31, 2016. (ii) Within 120 days after the Effective Date, the Reorganized Debtors shall provide to the Department an initial budget, based on the approved Reclamation ScheduleAgreement, reflecting the Reorganized Debtors' reasonable best efforts to project estimated expenditures from the Restricted Cash Accounts on account of reclamation, mitigation and water treatment and management expenses at the Twin Star Mining Complex through December 31, 2018 (the "Long-Term Budget"). (iii) On or before December 1, 2016, the Reorganized Debtors shall provide to the Department a budget (the "Semi-Annual Budget"), subject to approval by the Department, with respect to any reclamation, mitigation and water treatment and management to be performed using monies in the Restricted Cash Accounts during the period from January 1, 2017 through June 30, 2017. The Reorganized Debtors shall revise and update the Semi-Annual Budget for each ensuing six-month period by no later than 30 days prior to the conclusion of the current period (or on such schedule as may otherwise be agreed upon by the Reorganized Debtors and the Department). (iv) The Reorganized Debtors shall provide to the Department accountings of its Free Cash Flow and actual-to-budgeted expenditures from the Restricted Cash Accounts within 30 days after the end of each Quarterly Period. Such accountings shall be certified as to their accuracy by a senior officer of the Reorganized Debtors. (v) The Reorganized Debtors shall meet with the Department on a quarterly basis: (1) to review reclamation and water treatment progress, the Long-Term Budget and the current Semi-Annual Budget; (2) to provide updates on reclamation and water treatment spending from the Restricted Cash Accounts; and (3) to discuss other matters relevant to their obligations to fund such accounts.