Base Tonnage definition
Examples of Base Tonnage in a sentence
If Seller has elected to reduce the Base Tonnage hereunder, this Agreement shall continue in accordance with its terms and conditions.
Beginning in the first quarter of 2015 and for the remainder of the Term, Buyer may elect to increase or decrease the Base Tonnage to be delivered in a calendar quarter by an amount of up to [**] of the Base Tonnage to be delivered in such calendar quarter.
In determining the extent of the reduction in the Base Tonnage upon shutdown of a Mine, Seller shall not give any of its other customers any priority over Buyer with respect to the purchase of any uncommitted coal that Seller has available at such time.
If Buyer desires to increase or decrease the Base Tonnage for a Contract Year, Buyer shall provide written notice of such election to Seller on or before June 30th of the Contract Year preceding the Contract Year for which the Base Tonnage will be adjusted.
For each Contract Year beginning in 2015, Buyer may elect to increase or decrease the Base Tonnage (as described in Section 2.1) for such Contract Year by an amount of up to [**] of the Base Tonnage for such Contract Year.
By January 31 of each applicable Contract Year, Buyer shall make and communicate to Seller in writing, subject to Seller’s review and approval which shall not be unreasonably withheld or delayed, a provisional determination of the Floor TC’s and RC’s, based on the projected Base Tonnage Costs stated in the relevant line items of Buyer’s approved annual budget (i.e. including only the items allowable in accordance with the foregoing provisions of this paragraph).
If Buyer fails to provide such notice for any Contract Year, the Base Tonnage for such Contract Year shall be the Base Tonnage as set forth in Section 2.1.
In the event [**] directs Buyer to [**], Buyer may reduce the Base Tonnage of coal to be supplied hereunder by giving Seller no less than one (1) year advance written notice of such reduction; provided [**].
By January 31 following the end of each Contract Year, Buyer shall make and communicate to Seller in writing, subject to Seller’s review and approval which shall not be unreasonably withheld or delayed, a final determination of the Base Tonnage Costs and the Floor TC’s and RC’s for such Contract Year, using the same methodology described above but utilizing actual costs.
Buyer’s option to adjust the annual Base Tonnage by + [**] as stated in Section 3.1 of the Original Agreement, shall remain in full force and effect during the term thereof.