Common use of Harvesting Restrictions Clause in Contracts

Harvesting Restrictions. In any calendar year, harvest Timber on the Timberlands then owned by the Company in excess of the amount set forth for such calendar year in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 MCCF 1997 through 2000 1,970 MCCF 2001 and each calendar year thereafter 1,910 MCCF plus, in each year, the amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years preceding such year of determination and (y) 2,130 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless the net cash proceeds from such excess harvest are either (i) applied, within 180 days after any such excess harvest, to the repayment of Qualified Debt pro rata based upon outstanding principal balances at the time of such repayment, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may be, or (ii) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; provided that, if the net proceeds of any such excess harvest exceed $50,000,000 (and such proceeds are not immediately applied in accordance with clause (i) or (ii) above), all the net proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater than 66-2/3% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (i) or (ii) above;

Harvesting Restrictions. In The Company shall not, and shall not suffer or permit any of its Restricted Subsidiaries to, in the fourth calendar yearquarter of 2001 or any year thereafter, harvest Timber (the term "harvest" and correlative terms shall include, without duplication, both the harvesting activities to be conducted by the Company and sales of Timber to other Persons for current harvesting activities being conducted by such Persons) on the Timberlands then owned directly or indirectly by the Company in excess of the amount set forth for such calendar year quarter or year, as the case may be, in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 PERIOD MAXIMUM MCCF 1997 through 2000 1,970 TO BE HARVESTED ------ ---------------------------- fourth quarter of calendar year 2001 1,712 MCCF 2001 calendar year 2002 6,850 MCCF calendar year 2003 and each calendar year thereafter 1,910 MCCF 8% of Standing Inventory as of January 1 of the applicable related calendar year plus, commencing with the calendar year 2002 and in each yearyear thereafter, the lesser of (i) amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years (other than calendar year 2001) preceding such year of determination and (y) 2,130 2000 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless determination or (ii) 8% of Standing Inventory as of January 1 of such calendar year; unless the net cash proceeds Net Proceeds from such excess harvest are either (iA) applied, within 180 days after any such excess harvest, harvest to the repayment of Qualified Debt pro rata based upon outstanding principal balances at the time of such repayment, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may beaccordance with Section 2.7(a)(ii), or (iiB) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; , provided that, if the net proceeds of any such excess harvest exceed $50,000,000 in any calendar year exceeds 15% of Standing Inventory as of January 1 of such calendar year (and such proceeds are not immediately applied in accordance with clause (iA) or (iiB) above), all the net proceeds Net Proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater more than 66-2/350% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (iA) or (iiB) above;. For purposes of computing maximum harvest, Board Feet will be converted into Cunits at a ratio of 2.1 MCCF for each MMBF. For purposes of conversion of Timber in the Company's Maine timberlands, one million Tons shall equal 355 MCCF.

Harvesting Restrictions. In any calendar year, harvest Timber on the Timberlands then owned by the Company in excess of the amount set forth for such calendar year in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 MCCF 1997 ------------- ------------------------------ 1998 through 2000 1,970 2330 MCCF 2001 and each calendar year thereafter 1,910 2270 MCCF plus, in each year, the amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years preceding such year of determination and (y) 2,130 2,342 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless determination; unless the net cash proceeds from such excess harvest are either (i) applied, within 180 days after any such excess harvest, to the repayment of Qualified Debt pro rata based upon outstanding principal balances at selected by the time of such repaymentCompany, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may be, 4B or (ii) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; provided that, if the net proceeds of any such excess harvest exceed $50,000,000 (and such proceeds are not immediately applied in accordance with clause (i) or (ii) above), all the net proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater than 66-2/350% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (i) or (ii) above;

Harvesting Restrictions. In any calendar year, harvest Timber on the Timberlands then owned by the Company in excess of the amount set forth for such calendar year in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 MCCF 1997 through 2000 1,970 MCCF 2001 and each calendar year thereafter 1,910 MCCF plus, in each year, the amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years preceding such year of determination and (y) 2,130 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless determination; unless the net cash proceeds from such excess harvest are either (i) applied, within 180 days after any such excess harvest, to the repayment of Qualified Debt pro rata based upon outstanding principal balances at selected by the time of such repaymentCompany, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may be4A, or (ii) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; provided that, if the net proceeds of any such excess harvest exceed $50,000,000 (and such proceeds are not immediately applied in accordance with clause (i) or (ii) above), all the net proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater than 66-66 2/3% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (i) or (ii) above;

Harvesting Restrictions. In any calendar yearperiod, harvest Timber (the term "harvest" and correlative terms shall include, without duplication, both the harvesting activities to be conducted by the Company and sales of Timber to other Persons for current harvesting activities being conducted by such Persons) on the Timberlands then owned directly or indirectly by the Company in excess of the amount set forth for such calendar year period in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 4th Quarter, calendar year 2001 1,712 MCCF 1997 through 2000 1,970 Calendar year 2002 6,850 MCCF 2001 Calendar year 2003 8% of Standing Inventory as of January 1 and each calendar year thereafter 1,910 MCCF of such calendar year plus, in each calendar year, the lesser of (i) the amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years (other than calendar year 2001) preceding such year of determination and (y) 2,130 2000 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless determination or (ii) 8% of Standing Inventory as of January 1 of such calendar year; unless the net cash proceeds from such excess harvest are either (i) applied, within 180 days after any such excess harvest, to the repayment of Qualified Debt pro rata based upon outstanding principal balances at selected by the time of such repaymentCompany, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may be, 4B or (ii) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; , provided that, if the net proceeds of any such excess harvest exceed $50,000,000 exceeds 15% of Standing Inventory as of January 1 of such calendar year (and such proceeds are not immediately applied in accordance with clause (i) or (ii) above), all the net proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater than 66-2/350% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (i) or (ii) above;

Harvesting Restrictions. In The Company shall not, and shall not suffer or permit any of its Restricted Subsidiaries to, in the fourth calendar yearquarter of 2001 or any year thereafter, harvest Timber (the term "harvest" and correlative terms shall include, without duplication, both the harvesting activities to be conducted by the Company and sales of Timber to other Persons for current harvesting activities being conducted by such Persons) on the Timberlands then owned directly or indirectly by the Company in excess of the amount set forth for such calendar year quarter or year, as the case may be, in the following table: Calendar Year Maximum Cunits to be Harvested 1996 1,470 PERIOD MAXIMUM MCCF 1997 through 2000 1,970 TO BE HARVESTED fourth quarter of calendar year 2001 1,712 MCCF 2001 calendar year 2002 6,850 MCCF calendar year 2003 and each calendar year thereafter 1,910 MCCF 8% of Standing Inventory as of January 1 of the applicable related calendar year plus, commencing with the calendar year 2002 and in each yearyear thereafter, the lesser of (i) amount, if any, by which (a) the sum of (x) the cumulative amount set forth in the table above for the years (other than calendar year 2001) preceding such year of determination and (y) 2,130 2000 MCCF, exceeds (b) the cumulative amount actually harvested in such years preceding such year of determination;unless determination or (ii) 8% of Standing Inventory as of January 1 of such calendar year; unless the net cash proceeds Net Proceeds from such excess harvest are either (iA) applied, within 180 days after any such excess harvest, harvest to the repayment of Qualified Debt pro rata based upon outstanding principal balances at the time of such repayment, which, in the case of the Notes, shall be a prepayment pursuant to paragraph 4A or 4B, as the case may beaccordance with Section 2.7(a)(ii), or (iiB) applied, within 180 days after any such excess harvest, to purchase Timber (including Timber on Timberlands purchased) having a fair value (in the good faith judgment of the Responsible Representatives) not less than the fair value of the Timber subject to such excess harvest; , provided that, if the net proceeds of any such excess harvest exceed $50,000,000 in any calendar year exceeds 15% of Standing Inventory as of January 1 of such calendar year (and such proceeds are not immediately applied in accordance with clause (iA) or (iiB) above), all the net proceeds Net Proceeds of such excess harvest shall be placed immediately in an escrow or cash collateral account or accounts, pursuant to an agreement or agreements in form and substance reasonably satisfactory to the holders of greater more than 66-2/350% of the outstanding principal amount of Qualified Debt, for the purpose of application in accordance with clause (iA) or (iiB) above;. For purposes of computing maximum harvest, Board Feet will be converted into Cunits at a ratio of 2.1 MCCF for each MMBF. For purposes of conversion of Timber in the Company's Maine timberlands, one million Tons shall equal 355 MCCF.