Coal Sales Agreements definition

Coal Sales Agreements mean the Coal Sales Agreement between Infinity Coal Sales, LLC as agent for the Company and Arch Coal Sales Company, Inc. dated January 1, 2006 with respect to low ash and the Coal Sales Agreement between Infinity Coal Sales, LLC as agent for the Company and Arch Coal Sales Company, Inc. dated January 1, 2006 with respect to high ash.

Coal Sales Agreements means all Contracts for the sale of coal related to the Company Assets, which Coal Sales Agreements are set forth on Exhibit I.

Coal Sales Agreements means contracts, verbal or written, now in effect and hereafter entered into by Buckeye or any of its Subsidiaries for the purchase and sale of Coal.

Examples of Coal Sales Agreements in a sentence

• As disclosed in the POSCO Announcement, the maximum annual transaction amounts to be received by the Group from POSCO and/or its associates for the sale of coal pursuant to the POSCO Coal Sales Agreements for the years ending 31 December 2023 and 2024 will not exceed US$300 million and US$300 million, respectively.

• Reference is also made to the announcement (the “POSCO Announcement”) issued by the Company on 22 December 2021 in relation to the continuing connected transactions for the purchase of coal from the Group by POSCO and/or its associates under the POSCO Coal Sales Agreements.

• For the avoidance of doubt, this Section 5.08 does not relate to Coal Sales Agreements, such items being the subject of Section 5.04(c).

• Directors’ Confirmation The Directors (including the independent non-executive Directors) are of the view that the terms of the POSCO Coal Sales Agreements (including the revised annual caps) are fair and reasonable, the transactions are in the ordinary and usual course of business of the Group, on normal commercial terms or better and in the interests of the Company and its shareholders as a whole.

• The highest applicable percentage ratio in respect of the maximum annual transaction amount to be received by the Group from POSCO and/or its associates for the sale of coal pursuant to the POSCO Coal Sales Agreements exceeds 5%.

• None of the Directors has a material interest in the POSCO Coal Sales Agreements and the transactions contemplated thereunder, and therefore no Director abstained from voting on the relevant resolutions of the Board in respect of the revised annual caps under the POSCO Coal Sales Agreements and the transactions contemplated thereunder.

• There are no Contracts or understandings between a Seller or any Affiliate of Seller and any Person that would give rise to a valid claim against the Buyer or the Purchased Assets for a fee, commission or other payment in connection with the sale of coal under the Coal Sales Agreements (or the sale of coal to the Coal Sales Agreements customers pursuant to any other agreement or arrangement).

• The terms of the POSCO Coal Sales Agreements remained unchanged and the major terms of which were set out in the POSCO Announcement.

• Buckeye shall maintain at all times available Coal reserves, or the rights to acquire coal from third parties, sufficient to fulfill its requirements under existing Coal Sales Agreements.

• This Section 5.04(b) does not relate to Coal Sales Agreements, such items being the subject of Section 5.04(c).

More Definitions of Coal Sales Agreements

Coal Sales Agreements means all agreements, arrangements, understandings and orders entered into, made or accepted by or on behalf of MNC (including through Moranbah Sales) in relation to the sale of ‘Coal’ (as that term is defined in the Joint Venture Agreement) that are not fully performed, in respect of which MNC (including through Moranbah Sales) has outstanding obligations or in respect of which MNC (including through Moranbah Sales) retains any rights at the Completion Date, including those specified in Part 3 of Schedule 16;