Examples of Land Companies in a sentence
Notwithstanding anything in this Master Agreement to the contrary, it is expressly understood, stipulated, and agreed that the relationship between Land Companies and Operating Companies shall be that of landlord and tenant.
Notwithstanding anything therein to the contrary, in mining and removing the Leased Coal and in exercising the Mining Rights hereunder, Operating Companies shall be limited to the exercise of the rights and privileges specifically authorized by the Coal Leases and any other instruments by which Land Companies acquired their title or interest.
The rights herein granted to Operating Companies are subject to the limitation of Land Companies’ power to grant same and to such rights as Land Companies possess by virtue of the Coal Leases.
The Parties hereto do acknowledge, however, that Land Companies have reserved certain rights and have imposed certain requirements under the terms of this Master Agreement solely for the purpose of preventing waste and protecting the reserved rights of the Land Companies.
All prior leases and subleases, licenses arrangements and understandings of the Parties relating to the Leased Coal and Lease Lands, including without limitation the Prior Lease Agreements, are hereby superseded, and except as otherwise provided herein this Master Agreement may not be modified or changed in whole or in part other than by Land Companies and Operating Companies in writing signed by the Parties hereto or their respective successor or assigns.
Operating Companies accept this Master Agreement with the understanding that the rights and privileges granted hereunder are and shall be construed as limited to only such rights and privileges as Land Companies possess and have the lawful right to lease, sublease or otherwise grant to Operating Companies.
Land Companies, their agents, engineers or other persons in their behalf shall have the right, but not the obligation, to enter the Lease Lands at all reasonable times during standard business hours to inspect and examine the Lease Lands or any part thereof, select samples of coal, survey or measure the seam or any part thereof, for any lawful purpose.
Nothing herein shall be construed or interpreted to establish between Land Companies and Operating Companies a relationship of partners, joint venturers, principal and agent, vendor and purchaser, or any other relationship except that of landlord and tenant.
In addition to Production Royalty, Operating Companies shall pay to Land Companies all rentals, minimum and production royalties and overriding royalties (excluding any bonus bid obligations payable under the Coal Lease covering and relating to the Little Thunder Creek Reserves) due and payable under and required by the terms and conditions of the Coal Leases and applicable laws, rules and regulations governing the Coal Leases.
Operating Companies acknowledge that each of the Coal Leases contains certain provisions requiring the Land Companies to furnish to the Base Lessors mine plans, progress maps, surveys and other maps of mining operations.