Excess Cutting or Removal Sample Clauses

Excess Cutting or Removal. (a) Subject to the provisions of Section 5.3 hereof, Borrower may cut or remove volumes of Merchantable Timber in excess of the volumes permitted under Section 5.2 hereof during any calendar year, provided Borrower deposits into the Collateral Account, in the manner provided for hereunder, an amount equal to the sum of the products obtained by multiplying (i) the differences between the volumes for each Category of Merchantable Timber actually cut and removed during any calendar year and the permitted volume for each such Category established pursuant to Section 5.2 for such calendar year, by (ii) the Administrative Unit Values of each such Category set forth in the following subsection (b).

Excess Cutting or Removal. (a) During any period for which volumes have been established by Xxxx Xxxxxxx for cutting or removal of Merchantable Timber by the Borrower without payment or penalty, the Borrower may cut or remove volumes in excess thereof during any such period provided the Borrower shall pay to the Escrow Account, in the manner hereinafter provided, an amount equal to 80% of the sum of the products obtained by multiplying (i) the differences between the volumes for each category of Merchantable Timber actually cut or removed during any calendar year and the volume for each such category established by Section 7.2 for such calendar year, by (ii) the unit value of each such category set forth in the preceding subsection;