Mandatory Sale for Breach Sample Clauses

Mandatory Sale for Breach. Lessor shall first notify (the “Breach Sale Notice”) Lessee in writing that Lessor desires to sell, assign and transfer the then-remaining Coal Reserves to Lessee on account of such event of default, which notice shall include the purchase price (the “Breach Sale Price”) payable for such remaining Coal Reserves which shall be computed as follows: the Breach Sale Price shall be the amount equal to (x) the difference between (i) 80 million tons (less any tons of Coal Reserves attributable to State Leases which are not transferred to Lessor) and (ii) that number of tons of Coal Reserves with respect to which Lessor had received (A) Production Royalty Payments and (B) Cumulative Recoupable Royalty Payments which are then outstanding prior to the Date of Termination times (y) the Production Royalty rate in effect on the Date of Termination. The Breach Sale Price shall be payable by not later than three business days after the date of the Breach Sale (the “Due Date”) and, upon receipt of the Breach Sale Price, Lessor shall convey to Lessee or one of its affiliates by special warranty deed all of its interest in the Fee Coal Reserves and by assignment all of its interest in the Leased Reserves, the 2002 Assignment and the other coal rights leased hereunder.
Sample 1
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Mandatory Sale for Breach. Upon and after the Date of Termination, Lessor shall have the following rights:
Sample 1
Mandatory Sale for Breach. Upon and after the Date of Termination, Lessor shall notify (the “Mandatory Sale Notice”) Lessee in writing that Lessor desires to sell, assign and transfer the then remaining Coal Reserves to Lessee on account of such event of default, which notice shall include the purchase price (the “Breach Sale Price”) payable for such remaining Coal Reserves, which shall be computed as follows: the product of (x) the difference between (i) 40 million tons and (ii) that number which is the sum of (A) the number of tons of Coal Reserves with respect to which Lessor had received Production Royalty Payments and (B) the number of tons of Coal Reserves with respect to which Lessor has received Cumulative Recoupable Royalty Payments (computed based on the Royalty Rate at the time such Cumulative Recoupable Royalty Payments were made) which are then outstanding, and (C) the Lost Coal Quantity, if any (as defined in Section 8) and (D) the number of tons of Coal Reserves with respect to which Pittsburgh Escrow Units have been delivered to Buyer, in accordance with the Escrow Agreement (as such terms are defined in Section 8.3), times (y) the Production Royalty rate in effect on the Date of Termination. The Breach Sale Price shall be payable by not later than three business days after the date of the Breach Sale Notice (the “Due Date”). Upon receipt of the Breach Sale Price, Lessor shall convey to Lessee or one of its affiliates by special warranty deed all Coal Reserves and other rights granted under this Lease.
Sample 1

Related to Mandatory Sale for Breach

  • Purchase and Sale of Preferred Stock 1.1 Sale and Issuance of Series D Preferred Stock. ---------------------------------------------

  • Purchase and Sale of Common Stock Subject to the terms and conditions set forth herein, the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company, up to that number of Shares having an aggregate Purchase Price of Ten Million dollars ($10,000,000).

  • Purchase and Sale of Preferred Shares Upon the following terms and conditions, CDRD shall issue and sell to each Investor severally, and each Investor severally shall purchase from CDRD, the number of First Closing Shares and Second Closing Shares indicated next to such Investor's name on Schedule I attached hereto.

  • Purchase and Sale of Common Stock and Warrants (a) Upon the following terms and conditions, the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase from the Company, an aggregate of approximately 3,333,334 shares of Common Stock (the "Shares") at a price per share of $0.90 (the "Per Share Purchase Price") for an aggregate purchase price of $3,000,000 (the "Purchase Price"). The Company and the Purchasers are executing and delivering this Agreement in accordance with and in reliance upon the exemption from securities registration afforded by Section 4(2) of the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the "Securities Act"), including Regulation D ("Regulation D"), and Regulation S promulgated thereunder. and/or upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all of the investments to be made hereunder.

  • PURCHASE AND SALE OF INVESTMENTS OF THE FUND OTHER THAN OPTIONS, FUTURES CONTRACTS AND FUTURES CONTRACT OPTIONS

  • Purchase and Sale of Common Shares (a) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in Schedule B to this Agreement, the Purchaser hereby agrees to purchase from the Company and the Company hereby agrees to sell to the Purchaser, on the Closing Date, 104,500,000 Common Shares (the “Purchased Shares”) at a price of $48.60 per Purchased Share for an aggregate purchase price of $5,078,700,000 (the “Share Purchase Price”).

  • Purchase and Sale of Shares Closing Subject to the terms and conditions of this Agreement, the Company agrees to sell to Purchaser at the Closing, and Purchaser agrees to purchase from the Company at the Closing, 10,000,000 shares of Common Stock (the “Shares”), at a price per share of $6.00 (the “Purchase Price”). Subject to the satisfaction or waiver of the covenants and conditions set forth in Sections 2.3 and 2.4, the Closing shall occur on the date hereof at the offices of Xxxxxxxx & Xxxxxxxx or such other location as the parties shall mutually agree.

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