OTHER GOVERNMENT IMPOSITIONS Sample Clauses

OTHER GOVERNMENT IMPOSITIONS. Whenever any federal, state or local laws, rules, regulations or requirements, whether due to change in, additions to or difference of interpretation or enforcement by any governmental authority of existing laws, rules, regulations or requirements after January 1, 2001 (a "New Government Imposition"), should cause an increase or decrease in the cost to Seller of mining coal in compliance with such laws, rules, regulations or requirements, Buyer shall reimburse Seller (in the case of an increase) or Seller shall issue a credit to Buyer (in the case of a decrease) for the actual additional cost (or savings) per ton of coal to Seller on account thereof. With respect to a New Government Imposition effective prior to January 1, 2014, payment for these additional costs shall be made on an accrual basis so that payment is made at the xxxx Xxxxxx incurs the obligation even though Seller may not fulfill the obligation until some time later. With respect to a New Government Imposition effective after December 31, 2013, any such adjustment shall be effective from the date Seller is required to accrue the additional cost under GAAP. In no event shall this subsection (iv) be applied in such a fashion as to result in double recovery by Seller of any such costs. Seller shall use its best efforts to minimize or eliminate any cost that would otherwise be recoverable under this subsection (iv). To the extent a prudent miner operating the Mine in a competitive market would comply with the New Government Imposition by using its own labor and equipment, Seller shall utilize its labor and equipment to fulfill the New Government Imposition mandate and Buyer shall reimburse Seller for Buyer's pro rata portion of the actual cost of such labor and equipment (net of any cost savings or benefit received by Seller as a result of complying with such New Government Imposition mandate). To the extent a prudent miner operating the Mine in a competitive market would modify its mine plan to reduce the cost of complying with the New Government Imposition mandate, Seller shall take all reasonable steps to minimize costs by so modifying the mine plan for the Mine. The parties agree that Buyer shall reimburse Seller for all costs, expense and reasonable attorneys fees relating to legal or regulatory proceedings based upon the first audit, with respect to coal delivered hereunder, by any responsible agency after January 1, 2001, of each of the Government Impositions set forth in the beginning of...
Sample 1
AutoNDA by SimpleDocs

Related to OTHER GOVERNMENT IMPOSITIONS

  • Litigation; Government Proceedings No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, or to the Company’s knowledge, the Sponsor, or any executive officer or director of the Company, or its or their property is pending or, to the knowledge of the Company, threatened that (i) would reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) would reasonably be expected to have a Material Adverse Effect, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).

  • Other Governmental Notices Promptly and in any event within five Business Days after receipt thereof by the Borrower or any Subsidiary, a copy of any notice, summons, citation, or proceeding seeking to modify in any material respect, revoke, or suspend any material contract, license, permit or agreement with any Governmental Authority;

  • No Government Funding No funding, facilities, resources or personnel of any Governmental Entity or any university, college, other educational institution, multi-national, bi-national or international organization or research center was used in connection with the development or creation, in whole or in part, of any Company Owned Intellectual Property or Company Technology.

  • No Government Review The Purchaser understands that neither the SEC nor any securities commission or other governmental authority of any state, country or other jurisdiction has approved the issuance of the Securities or passed upon or endorsed the merits of this Agreement, the Securities, or any of the other documents relating to the Placement, or confirmed the accuracy of, determined the adequacy of, or reviewed this Agreement, the Securities or such other documents.

  • No Government Obligor No Receivable is due from the United States or any State or from any agency, department or instrumentality of the United States or any State.

  • Actions Before Governmental Authorities There are no actions, suits or proceedings at law or in equity or by or before any governmental authority now pending or, to the knowledge of Borrower, threatened against or affecting Borrower or its property, that is reasonably expected to result in a Material Adverse Effect.

  • No Government Obligors None of the Receivables is due from the United States or any state or local government, or from any agency, department or instrumentality of the United States or any state or local government.

  • No Governmental Actions No action or proceeding before any governmental authority shall have been instituted or threatened to restrain or prohibit the transactions contemplated by this Agreement, and the parties hereto shall have delivered to each other certificates dated as of the Closing Date and executed by such parties, staling that to their Best Knowledge, no such items exist. No governmental authority shall have taken any other action as a result of which the management of any of the parties, in its sole discretion, reasonably deems it inadvisable to proceed with the transactions contemplated by this Agreement.

  • Government Regulations Notwithstanding anything contained herein to the contrary, the Company’s obligation hereunder to issue or deliver certificates evidencing shares of Common Stock shall be subject to the terms of all applicable laws, rules and regulations and to such approvals by any governmental agencies or national securities exchanges as may be required.

  • No Governmental Prohibition No order, statute, rule, regulation, executive order, injunction, stay, decree, judgment or restraining order shall have been enacted, entered, promulgated or enforced by any court or governmental or regulatory authority or instrumentality which prohibits the consummation of the transactions contemplated hereby.

Time is Money Join Law Insider Premium to draft better contracts faster.