PREMIUMS AND PENALTIES FOR VARIATIONS IN QUALITY. 8.1 Calculation and Billing of Premiums and Penalties. Premiums and penalties shall apply to all coal delivered under this Agreement based upon the semi-monthly average analysis of coal as determined pursuant to Section 10.3(b). Premiums and penalties shall be calculated at the end of each Billing Period based upon a comparison with the Semi-Monthly Average Contract Specifications set forth in Section 6.2.
Appears in 4 contracts
Samples: Coal Supply Agreement (International Coal Group, Inc.), Coal Supply Agreement (International Coal Group, Inc.), Coal Supply Agreement (International Coal Group, Inc.)
