Common use of Renewal Bonds Clause in Contracts

Renewal Bonds. (a) Information for the renewal bond under the self-bonding program which shall accompany the annual report shall include: (i) Amount of bond required, which shall be determined in accordance with W. S. § 35-11-417(c)(ii). If the self-bond amount is proposed to be less than the full bond amount, the amount which is proposed is to be under a self-bond. (ii) Financial information in sufficient detail to show that the guarantor still meets one of the criteria in Section 2(a)(vii), and the limitation in Section 2(a)(xii). The Administrator may request financial statements for the most recently completed fiscal year together with an independent certified public accountant's audit opinion or review opinion of the financial statements with no adverse opinion. Additional unaudited information may be requested by the Administrator. (iii) If the Administrator has accepted a mortgage, any changes in evidence of value, title and possession of the property shall be submitted. (iv) If the Administrator deems it necessary to value any asset, he may appoint the appraiser or appraisers mutually acceptable to the Administrator and the operator. Any such appraisal shall be expeditiously made, and a copy thereof furnished to the Administrator and the operator. The expense of the appraisal shall be borne by the operator. The findings of the appraisal shall be final and binding unless both parties agree to a reappraisal. (v) For coal operators using personal property as collateral to support a self-bond, the operator's current financial information showing continuing compliance with Section 3(c)(ii) of this Chapter. (b) If the Administrator has authorized a parent corporate guarantee, the parent corporation shall supply all information required under subsection (a)(ii) of this Section. (c) Any valid initial self-bond shall carry the right of successive renewal as long as the above listed information is submitted which demonstrates that the guarantor remains qualified under W.S. § 35-11-417(d).

Renewal Bonds. (a) Information for the renewal bond under the self-bonding program which shall accompany the annual report shall include: (i) Amount of bond required, which shall be determined in accordance with W. S. W.S. § 35-11-417(c)(ii). If the self-bond amount is proposed to be less than the full bond amount, the amount which is proposed is to be under a self-bond.; (ii) Financial information in sufficient detail to show that the guarantor still meets one of the criteria in Section 2(a)(viiinformationinSection2(a)(viii), and the limitation limitations in Section 2(a)(xii) through (xiv). The Administrator may request financial statements for the most recently completed fiscal year together with an independent certified public accountant's audit opinion or review opinion of the financial statements with no adverse opinion. Additional unaudited information may be requested by the Administrator.; (iii) If the Administrator has accepted a mortgage, any changes in evidence of value, title and possession of the property shall be submitted.; and (iv) If the Administrator deems it necessary to value any asset, he may appoint the appraiser or appraisers mutually acceptable to the Administrator and the operator. Any such appraisal shall be expeditiously made, and a copy thereof furnished to the Administrator and the operator. The expense of the appraisal shall be borne by the operator. The findings of the appraisal shall be final and binding unless both parties agree to a reappraisal. (v) For coal operators using personal property as collateral to support a self-bond, the operator's current financial information showing continuing compliance with Section 3(c)(ii) of this Chapter. (b) If the Administrator has authorized a parent corporate guarantee, the parent corporation shall supply all information required under subsection (a)(ii) of this Section. (c) Any valid initial self-bond shall carry the right of successive renewal as long as the above above- listed information is submitted which demonstrates that the guarantor remains qualified under W.S. § 35-35- 11-417(d).

Renewal Bonds. (a) Information for the renewal bond under the self-bonding program which shall accompany the annual report shall include: (i) Amount of bond required, which shall be determined in accordance with W. S. § 35-11-417(c)(ii). If the self-bond amount is proposed to be less than the full bond amount, 417(c)(ii and the amount which is proposed is to be under a self-bond. (ii) Financial information in sufficient detail to show that the guarantor still meets one of the criteria in Section 2(a)(vii), and the limitation in Section 2(a)(xii). The Administrator may request financial statements for the most recently completed fiscal year together with an independent certified public accountant's audit opinion or review opinion of the financial statements with no adverse opinion. Additional unaudited information may be requested by the Administrator. (iii) If the Administrator has accepted a mortgage, any changes in evidence of value, title and possession of the property shall be submitted. (iv) If the Administrator deems it necessary to value any asset, he may appoint the appraiser or appraisers mutually acceptable to the Administrator and the operator. Any such appraisal shall be expeditiously made, and a copy thereof furnished to the Administrator and the operator. The expense of the appraisal shall be borne by the operator. The findings of the appraisal shall be final and binding unless both parties agree to a reappraisal. (v) For coal operators using personal property as collateral to support a self-bond, the operator's current financial information showing continuing compliance with Section 3(c)(ii) of this Chapter. (b) If the Administrator has authorized a parent corporate guarantee, the parent corporation shall supply all information required under subsection (a)(ii) of this Section. (c) Any valid initial self-bond shall carry the right of successive renewal as long as the above listed information is submitted which demonstrates that the guarantor remains qualified under W.S. § 35-11-417(d).