GRANT OF OVERRIDING ROYALTY. GRANTEE does hereby GRANT, ASSIGN, TRANSFER, and SET OVER to GRANTOR free and clear of all costs, expenses, liens, and encumbrances created by GRANTEE, its parent and/or its affiliates, an overriding royalty interest in and to the fee, leased, and subleased coal, in place, having been conveyed, leased, and subleased to GRANTEE under the instruments cited in the recitals herein above (herein the “Coal”). GRANTEE covenants and agrees that after the mining by GRANTEE and its successors and assigns of Coal from the Property as depicted on the maps and the descriptions on the attached Addendum 1 (hereinafter the “Property”), GRANTEE, its successors and assigns, shall pay to GRANTOR, its successors and assigns, when such payments are due without the necessity of prior demand:
Appears in 4 contracts
Samples: Asset Purchase Agreement (Armstrong Coal Company, Inc.), Asset Purchase Agreement (Armstrong Energy, Inc.), Asset Purchase Agreement (Armstrong Energy, Inc.)
