Common use of Mining Financial Assurances Clause in Contracts

Mining Financial Assurances. (a) Peabody and its Affiliates have, in the amounts and forms required, obtained or provided all bonds, sureties, letters of credit, guarantees, indemnity agreements and other financial assurances (collectively, “Financial Assurances”) as are (i) required under any applicable Peabody Contributed Permits, Mining and Mining Safety Laws or Environmental Laws in connection with the Peabody Business for Reclamation and Mine Closure, including for land, water or other natural resources at any Peabody Property, or otherwise or (ii) otherwise required or maintained in connection with the Peabody Business (collectively, the “Peabody Financial Assurances”). Section 4.18(a) of the Peabody Disclosure Letter sets forth a correct and complete list as of the date hereof of all Peabody Financial Assurances, categorized by Peabody Property, and including (to the extent applicable) the name of the obligor, the name of the beneficiary, the name of the provider, the amount provided, the Peabody Contributed Permit, Peabody Lease or Contract under which such Peabody Financial Assurance is required and the amounts and type of collateral held by the provider. The consummation by Peabody and each Peabody Entity of the transactions contemplated by this Agreement will not violate, conflict with or result in the breach or termination of, or otherwise give any other Person the right to terminate, or constitute a default, event of default or an event that, with notice, lapse of time or both, would constitute a default or event of default under the terms of, any Peabody Financial Assurance. (b) The Liability for asset retirement obligations recorded on the Peabody Balance Sheet has been properly accrued in accordance with the requirements of Financial Accounting Standards Board Codification Topic 410, Asset Retirement and Environmental Obligations, formerly known as Financial Accounting Standard No. 143 (“FASB 410”) and the amount of such Liability is equal to or in excess of the amount of such obligations, determined on the basis of Peabody and its Affiliates’ actual historic Reclamation and Mine Closure costs and currently planned mine life and escalated for inflation, in accordance with FASB 410 and applicable Law.

Mining Financial Assurances. (a) Peabody Except as would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect: (i) the Company and its Affiliates have, in the amounts and forms required, obtained or provided or posted all deposits, bonds, sureties, letters of credit, trust funds, bid bonds, performance bonds, reclamation bonds, guarantees, indemnity agreements and other financial assurances (collectively, “Financial Assurances”) as are (iA) required under any applicable Peabody Contributed PermitsPermit of the Company and its Subsidiaries, Mining and Mining Safety Laws or Environmental Laws in connection with the Peabody Business Company and its Subsidiaries’ business for Reclamation and Mine Closure, including for land, water or other natural resources at any Peabody Company Real Property, or otherwise or (iiB) otherwise required or maintained in connection with the Peabody Business Company or its Subsidiaries business (collectively, the “Peabody Company Financial Assurances”). Section 4.18(a; (ii) the consummation by the Company of the Peabody Disclosure Letter sets forth a correct and complete list as of the date hereof of all Peabody Financial Assurances, categorized by Peabody Property, and including (to the extent applicable) the name of the obligor, the name of the beneficiary, the name of the provider, the amount provided, the Peabody Contributed Permit, Peabody Lease or Contract under which such Peabody Financial Assurance is required and the amounts and type of collateral held by the provider. The consummation by Peabody and each Peabody Entity of the transactions contemplated by this Agreement Transactions will not (with or without notice or lapse of time, or both) violate, conflict with or result in the breach or termination of, or otherwise give any other Person the right to terminate, or constitute a default, event of default or an event that, with notice, lapse of time or both, that would constitute a default or event of default under the terms of, any Peabody Company Financial Assurance; and (iii) each of the Company and its Subsidiaries is in compliance with all Financial Assurances posted by each of the Company and its Subsidiaries in connection with its respective obligations. (b) The Except as would not reasonably be expected to be, individually or in the aggregate, material to the Company and its Subsidiaries, taken as a whole, the Liability for asset retirement obligations recorded on the Peabody Balance Sheet balance sheet of the Company dated as of June 30, 2024 has been properly accrued in accordance with the requirements of Financial Accounting Standards Board Codification Topic 410, Asset Retirement and Environmental Obligations, formerly known as Financial Accounting Standard No. 143 (“FASB 410”) and the amount of projected cash flows used to calculate such Liability is are equal to or in excess of the amount of amounts the Company expects to expend to satisfy such obligations, determined on the basis of Peabody the Company and its Affiliates’ actual historic Reclamation and Mine Closure costs and currently planned mine life and escalated for inflation, in accordance with FASB 410 and applicable Law.

Mining Financial Assurances. (a) Peabody Except as would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect: (i) Parent and its Affiliates have, in the amounts and forms required, obtained or provided or posted all bonds, sureties, letters of credit, guarantees, indemnity agreements and other financial assurances (collectively, “Financial Assurances”) Assurances as are (iA) required under any applicable Peabody Contributed PermitsPermit of Parent and its Subsidiaries, Mining and Mining Safety Laws or Environmental Laws in connection with the Peabody Business Parent and its Subsidiaries’ business for Reclamation and Mine Closure, including for land, water or other natural resources at any Peabody Parent Real Property, or otherwise or (iiB) otherwise required or maintained in connection with the Peabody Business Parent or its Subsidiaries business (collectively, the “Peabody Parent Financial Assurances”). Section 4.18(a; (ii) the consummation by Parent of the Peabody Disclosure Letter sets forth a correct and complete list as of the date hereof of all Peabody Financial Assurances, categorized by Peabody Property, and including (to the extent applicable) the name of the obligor, the name of the beneficiary, the name of the provider, the amount provided, the Peabody Contributed Permit, Peabody Lease or Contract under which such Peabody Financial Assurance is required and the amounts and type of collateral held by the provider. The consummation by Peabody and each Peabody Entity of the transactions contemplated by this Agreement Transactions will not (with or without notice or lapse of time, or both) violate, conflict with or result in the breach or termination of, or otherwise give any other Person the right to terminate, or constitute a default, event of default or an event that, with notice, lapse of time or both, that would constitute a default or event of default under the terms of, any Peabody Parent Financial Assurance; and (iii) each of Parent and its Subsidiaries is in compliance with all Financial Assurances posted by each of Parent and its Subsidiaries in connection with its respective obligations. (b) The Except as would not reasonably be expected to be, individually or in the aggregate, material to Parent and its Subsidiaries, taken as a whole, the Liability for asset retirement obligations recorded on the Peabody Balance Sheet balance sheet of Parent dated as of June 30, 2024 has been properly accrued in accordance with the requirements of Financial Accounting Standards Board Codification Topic 410, Asset Retirement and Environmental Obligations, formerly known as Financial Accounting Standard No. 143 (“FASB 410”) 410 and the amount of projected cash flows used to calculate such Liability is are equal to or in excess of the amount of amounts Parent expects to expend to satisfy such obligations, determined on the basis of Peabody Parent and its Affiliates’ actual historic Reclamation and Mine Closure costs and currently planned mine life and escalated for inflation, in accordance with FASB 410 and applicable Law.