Common use of Severance Tax Adjustment Clause in Contracts

Severance Tax Adjustment. As the Illinois Base Price is adjusted quarterly, it also will be adjusted to reflect any applicable Illinois net severance tax or similar tax. It is understood that the January 1, 2013 Illinois Base Price does not include any severance, sales, use or other similar taxes that may be applicable or imposed on Coal supplied by Seller to Buyer under this Confirmation. In the event that after January 1, 2013, such a tax or taxes be deemed to apply or be imposed on the Illinois base load Coal supplied under this Confirmation, the amount of such tax or taxes shall be added to the Illinois Base Price and shall be included as an Additional Governmental Adjustment Cost as described in Section 4.1.4.5.2. **** INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 UNDER THE SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED.

Severance Tax Adjustment. As the Illinois Base Price is adjusted quarterly, it also will be adjusted to reflect any applicable Illinois net severance tax or similar tax. It is understood that the January 1, 2013 Illinois Base Price does not include any severance, sales, use or other similar taxes that may be applicable or imposed on Coal supplied by Seller to Buyer under this Confirmation. In the event that after January 1, 2013, such a tax or taxes be deemed to apply or **** INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 UNDER THE SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED. be imposed on the Illinois base load Coal supplied under this Confirmation, the amount of such tax or taxes shall be added to the Illinois Base Price and shall be included as an Additional Governmental Adjustment Cost as described in Section 4.1.4.5.2. **** INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 UNDER THE SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED.