Planned Volume means as of December 30, 1997 325,000,000 board feet per annum of timber, and shall be adjusted for any Annual Timber Increase, as of the Effective Date for such Annual Timber Increase, by increasing such per annum amount by an amount equal to 8-1/3% of such Annual Timber Increase. In addition, such per annum amount shall, if there shall be an Annual Timber Decrease in any Determination Period, be permanently (with respect to such Annual Timber Decrease) adjusted, effective as of the Effective Date for such Annual Timber Decrease, by decreasing such per annum amount in the same proportion that the Predisposition Timber Amount in respect of such Annual Timber Decrease is reduced by such Annual Timber Decrease; PROVIDED that such adjustment shall not be made if the percentage decrease represented by such adjustment would be less than 5% and if the Asset Coverage Ratio as of the last day of such Determination Period is at least 2:1. For purposes of the foregoing:
Planned Volume means for each calendar year 340,000,000 board feet of timber, as decreased for any year in which there is an Annual Timber Decrease effective upon the Effective Date for such Annual Timber Decrease by the same percentage that such Annual Timber Decrease represents as a percentage of the inventory of standing timber owned by the Company and its Subsidiaries at the end of the prior calendar year. For purposes of the foregoing:
Planned Volume means 6,700,000 tons for the calendar year 2000 and shall increase 2% per year thereafter. In the event of the acquisition of merchantable Timber or Timberlands (other than in like-kind exchange of Timber or Timberlands for other Timber or Timberlands and other than Timber or Timberlands acquired with the Net Proceeds of an Excess Harvest) constituting an Asset Acquisition, Planned Volume will be increased for 10 years by 10% of the volume of merchantable Timber so acquired; provided that if such Asset Acquisition is made under a cutting contract with a term of less than 10 years, Planned Volume will be increased for each year during the term of the cutting contract by a number of tons equal to the number of tons so acquired multiplied by the quotient of 100% divided by the numbers of years in the cutting contract. In the event of a disposition of merchantable Timber or Timberlands constituting an Asset Sale, Planned Volume will be reduced by 10% of the volume of merchantable Timber sold in such Asset Sale. In the event of an Excess Harvest, Planned Volume will be reduced by 10% of the amount of the Excess Harvest. For the purpose of this definition, all volumes of Timber harvested that are denominated in board feet shall be converted to tons on the basis of 7.2 tons per thousand board feet.
Examples of Planned Volume in a sentence
Attached hereto as Exhibit D, is a non-binding estimated plan by Supplier of the Product supply plan [***] The Parties acknowledge and agree that such Planned Volume is intended as a good faith plan, as of the Commencement Date, of how the Products under this 2021 Addendum are expected and estimated to be shipped and supplied to GF Parties by the Supplier Group, and is not binding.
More Definitions of Planned Volume
Planned Volume means, as of the Closing Date, 125 million board feet per calendar year of Timber. In the event of the acquisition of merchantable Timber or Timberlands (other than in a like-kind exchange of Timber or Timberlands for other Timber or Timberlands and other than Timber or Timberlands acquired with the Net Proceeds of an Excess Harvest) constituting an Asset Acquisition, Planned Volume will be increased for 10 years by 10% of the volume of merchantable Timber so acquired; provided that if such Asset Acquisition is made under a cutting contract with a term of less than 10 years, Planned Volume will be increased for each year during the term of the cutting contract by a number of board feet equal to the number of board feet so acquired multiplied by the quotient of 100% divided by the number of years in the cutting contract. In the event of a disposition of merchantable Timber or Timberlands constituting an Asset Sale, Planned Volume will be reduced by 10% of the volume of merchantable Timber sold in such Asset Sale. In the event of an Excess Harvest, Planned Volume will be reduced by 10% of the amount of the Excess Harvest.
Planned Volume means 6,700,000 tons for the calendar year 2000 and shall increase 2% per year thereafter. In the event of the acquisition of merchantable Timber or Timberlands (other than in a like-kind exchange of Timber or Timberlands for other Timber or Timberlands and other than Timber or Timberlands acquired with the Net Cash Proceeds of an Excess Harvest) constituting an Asset Acquisition, Planned Volume will be increased for 10 years by 10% of the volume of merchantable Timber so acquired. In the event of a disposition of merchantable Timber or Timberlands constituting an Asset Sale, Planned Volume will be reduced by 10% of the volume of merchantable Timber sold in such Asset Sale. In the event of an Excess Harvest, Planned Volume will be reduced by 10% of the amount of the Excess Harvest. For purposes of this definition, all volumes of Timber harvested that are denominated in board feet shall be converted to tons on the basis of 7.2 tons per thousand board feet.
Planned Volume means for each calendar year 325,000,000 board feet of timber, and shall be increased for any Annual Timber Increase, from the Effective Date for such Annual Timber Increase, by increasing such per annum amount by an amount equal to the Estimated Percentage of such Annual Timber Increase. In addition, such amount for any year after 1999 with respect to which there is an Annual Timber Decrease shall be decreased (calculated after giving effect to any Annual Timber Increases) effective upon the Effective Date for such Annual Timber Decrease by the same percentage that such Annual Timber Decrease represents as a percentage of the inventory of standing timber owned by the Company and its Subsidiaries at the end of the prior calendar year; provided, however, that such decrease shall not be made for any calendar year if the percentage decrease for that year would be less than 5% and if the Asset Coverage Ratio at the end of the prior calendar year is at least 2.0:1.0. For purposes of the foregoing:
Planned Volume has the meaning specified in Section 8.4.
Planned Volume means 6,700,000 tons for the calendar year 2000 and shall increase 2% per year thereafter. In the event of the acquisition of merchantable Timber or Timberlands (other than in a like-kind exchange of Timber or Timberlands for other Timber or Timberlands and other than Timber or Timberlands acquired with the Net RFR Proceeds of an Excess Harvest) constituting an RFR Asset Acquisition, Planned Volume will be increased for 10 years by 10% of the volume of merchantable Timber so acquired; provided that if such RFR Asset Acquisition is made under a cutting contract with a term of less than 10 years, Planned Volume will be increased for each year during the term of the cutting contract by a number of tons equal to the number of tons so acquired multiplied by the quotient of 100% divided by the number of years in the cutting contract. In the event of a disposition of merchantable Timber or Timberlands constituting an RFR Asset Sale, Planned Volume will be reduced by 10% of the volume of merchantable Timber sold in such RFR Asset Sale. In the event of an Excess Harvest, Planned Volume will be reduced by 10% of the amount of the Excess Harvest. For the purpose of this definition, all volumes of Timber harvested that are denominated in board feet shall be converted Raynoier - 2011 Credit Agreement to tons on the basis of 7.2 tons per thousand board feet.
Planned Volume means, as of the Closing Date, 125 million board feet per -------------- calendar year of Timber Harvest. In the event of the acquisition by the Company of Merchantable Timber or Timberlands (other than Timber or Timberlands acquired with Excess Timber Harvest Proceeds or by exchange for other Timber or Timberlands), Planned Volume will be increased each year for 10 years by 10% of the volume of Merchantable Timber so acquired; provided that if such acquisition of Merchantable Timber or Timberlands is made under a cutting contract with a term of less than 10 years, Planned Volume will be increased for each year during the term of the cutting contract by a number of board feet equal to the number of board feet so acquired multiplied by the quotient of 100% divided by the number of years in the cutting contract. In the event of a disposition (including by Event of Loss) with respect to Merchantable Timber or Timberlands (other than Timber Harvest with respect thereto), Planned Volume will be reduced by 10% of the volume of Merchantable Timber so disposed of. In the event of Timber Harvest in any year in excess of the limitations set forth in Section 8.20, Planned Volume will be reduced by 10% of the amount of such excess.
Planned Volume. Pro Forma Consolidated Cash Flow"; "Pro Forma Interest Expense"; "Pro Forma Maximum Debt Service" and "Restricted Payment" set forth in Section 1.1 of the Agreement are hereby deleted in their entirety.