Payment for Coal Mined Sample Clauses

Payment for Coal Mined. For all coal mined and sold by Lessee from the Premises, Lessee shall pay to Lessor a Production Royalty Payment in an amount equal to seven percent (7%) of the Sales Price (as hereinafter defined) received by Lessee. In addition to the foregoing, Lessee shall pay any royalties due for coal leased (not owned in fee) by Lessor. The aforementioned payments shall be defined herein as
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Payment for Coal Mined. For all coal mined from the Coal Reserves by Lessee hereunder and sold by Lessee, Lessee shall pay to Lessor a royalty (a “Production Royalty Payment”) in a fixed amount per ton of coal sold by Lessee as follows: Time Coal Sold Production Royalty Rate Commencement of Lease – December 31, 2003 $1.50 January 1, 2004 – December 31, 2004 $1.60 January 1, 2005 – December 31, 2005 $1.74 January 1, 2006 – December 31, 2006 $1.88 January 1, 2007 – December 31, 2007 $2.00 January 1, 2008 – December 31, 2008 $2.06 January 1, 2009 – December 31, 2009 $2.12 January 1, 2010 – December 31, 2010 $2.19 January 1, 2011 – December 31, 2011 $2.26 January 1, 2012 – December 31, 2012 $2.33 January 1, 2013 – December 31, 2013 $2.41 January 1, 2014 and thereafter $2.48 In the event that the Production Royalty Payment in any month is less than the Minimum Rental Payment, the excess of the Minimum Rental Payment over the Production Royalty Payment (“Recoupable Royalty”) shall be recoupable as provided below. In the event that the Production Royalty Payment in any month equals or exceeds the Minimum Rental Payment, no Minimum Rental Payment shall be due. In the event that the Production Royalty Payment in any month exceeds the Minimum Rental Payment and there exists a balance in the Cumulative Recoupable Royalty (defined below), the Production Royalty Payment for such month shall be reduced by all or a portion of the Cumulative Recoupable Royalty. The resultant Production Royalty Payment for such month shall not be reduced to an amount less than the Minimum Rental Payment for such month. The reduction shall be referred to as the “Reduction Amount.” The “Cumulative Recoupable Royalty” for any month shall be the aggregate total of the Recoupable Royalty for all months preceding the current month less any Reduction Amount used to reduce the Production Royalty Payment for any months preceding the current month.
Sample 1
Payment for Coal Mined. For all coal mined from the Coal Reserves by Lessee hereunder and sold by Lessee, Lessee shall pay to Lessor a royalty (a “Production Royalty Payment”) in a fixed amount per ton of coal sold by Lessee as follows: Time Coal Sold Production Royalty Rate Commencement of Lease – December 31, 2003 $1.50 January 1, 2004 – December 31, 2004 $1.60 January 1, 2005 – December 31, 2005 $1.74 January 1, 2006 – December 31, 2006 $1.88 January 1, 2007 – December 31, 2007 $2.00 January 1, 2008 – December 31, 2008 $2.06 January 1, 2009 – December 31, 2009 $2.12 January 1, 2010 – December 31, 2010 $2.19 January 1, 2011 – December 31, 2011 $2.26 January 1, 2012 – December 31, 2012 $2.33 January 1, 2013 – December 31, 2013 $2.41 January 1, 2014 and thereafter $2.48 In the event that the Production Royalty Payment in any month is less than the Minimum Rental Payment, the excess of the Minimum Rental Payment over the Production Royalty Payment (“Recoupable Royalty”) shall be recoupable as provided below. In the event that the Production Royalty Payment in any month equals or exceeds the Minimum Rental Payment, no Minimum Rental Payment shall be due. In
Sample 1

Related to Payment for Coal Mined

  • Payment for Improvements If payment is made directly to contractors, Tenant shall (i) comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and (ii) sign Landlord's standard contractor's rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay to Landlord an amount equal to five percent of the cost of such work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

  • Payment for Consent Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement.

  • Payment for Units If at any time Dairy Holdings elects or is required to purchase any Units pursuant to Section 7, Dairy Holdings shall pay the purchase price for the Units it purchases (i) first, by offsetting indebtedness, if any, owing from the Executive to Dairy Holdings (which indebtedness shall be applied pro rata against the proceeds receivable by each member of the Executive Group receiving consideration in such repurchase) and (ii) then, by Dairy Holdings' delivery of a check or wire transfer of immediately available funds for the remainder of the purchase price, if any, against delivery of the certificates or other instruments representing the Units so purchased, duly endorsed; provided that if such cash payment would result (A) in a violation of any law, statute, rule, regulation, policy, order, writ, injunction, decree or judgment promulgated or entered by any federal, state, local or foreign court or governmental authority applicable to the Company or any of its subsidiaries or any of its or their property or (B) after giving effect thereto, a Financing Default, or (C) if the Board determines in good faith that immediately prior to such purchase there shall exist a Financing Default which prohibits such purchase, dividend or distribution ((A) through (C) collectively the "Cash Deferral Conditions"), the portion of the cash payment so affected may be made by Dairy Holdings' delivery of preferred units of Dairy Holdings with a liquidation preference equal to the balance of the purchase price; which preferred units shall accrue yield annually at the "prime rate" published in The Wall Street Journal on the date of issuance, which yield shall be payable at maturity or upon payment of distributions by Dairy Holdings (other than tax distributions). Each such preferred unit shall as of its issuance be deemed to have basic contributions made with respect to such unit equal to (A) the portion of the cash payment paid by the issuance of such preferred units divided by (B) the number of preferred units so issued in the repurchase. Any such preferred units issued shall be promptly redeemed (i) when the Cash Deferral Condition which prompted their issuance no longer exists, (ii) upon consummation of an IPO of the Company or Holdings (or their successors) (to the extent allowed by the underwriters of such IPO), or (iii) upon a Sale of the Company from net cash proceeds, if any, payable to Dairy Holdings or its unitholders (other than proceeds required to be paid to Holdings); to the extent that sufficient net cash proceeds are not so payable, the preferred units shall be cancelled in exchange for such non-cash consideration received by unitholders in the Sale of the Company having a fair market value equal to the principal of and accrued yield on the preferred units. If a yield is required to be paid on any preferred units prior to maturity and any Cash Deferral Conditions exist, such yield may be cumulated and accrued until and to the extent that such prohibition no longer exists.

  • Payment for the Purchases (a) The Purchase Price for the Purchase of Receivables in existence on the close of business on the Business Day immediately preceding the date hereof (the “Initial Cutoff Date”) shall be payable in full by Buyer to Originator on the date hereof, and shall be paid to Originator in the following manner:

  • Payment for Services Contractor shall exert reasonable and diligent efforts to collect prompt payment from the Commonwealth. Contractor shall pay Subcontractor in proportion to amounts received from the Commonwealth which are attributable to the Services performed by Subcontractor. Contractor shall pay Subcontractor within fourteen (14) days after the Contractor receives such payment from the Commonwealth, unless the parties expressly agree upon a different payment schedule or structure as set forth below: ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

  • Delivery Versus Payment for Purchases and Sales Purchases and sales of Investments effected by Custodian will be made on a delivery versus payment basis in accordance with generally accepted trade practices, or the terms of the instrument representing such Investment. The Custodian may, in its sole discretion, upon receipt of Written Instructions, elect to settle a purchase or sale transaction in some other manner, but only upon receipt of acceptable indemnification from the Fund.

  • Agreement to Purchase Purchase Price Buyer acknowledges that it was the successful bidder for the Property at the Foreclosure Sale with a successful bid for the Property at the Foreclosure Sale in the amount of [ ] ($ ) (the “Purchase Price”), and agrees to purchase all of the interest in the Property from Seller in accordance with and in reliance upon the terms and conditions of this Agreement.

  • Payment for Consents No Borrower will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, on a Pro Rata basis to all Lenders providing their consent.

  • Payment for Labor and Materials The Contractor agrees and binds itself to pay for all labor done, and for all the materials used in the construction of the work to be completed pursuant to this contract.

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