Laserfiche WebLink
Y = royalty due I-essor on production sold from the Unitized Premises <br />R = royalty rate as specified according to in Section 4.3(a) of this Lease <br />T = tons of Coal production sold from the Unitized Premises during the <br />computation period <br />P = estimate of Coal available for mining from the Premises pursuant to <br />Schedule 2 <br />U = estimate of Coal available for mining from the Unitized Premises <br />pursuant to Schedule 2. <br />4.4 Lesser Interests. If Lessor owns a lesser interest in the Coal within <br />the Premises than the entire and undivided interest therein, then, all paymenu due under <br />this Lease to be paid to Lessor shall be only in the proportion which Lessor's interest <br />bears to the entire and undivided interest in the Coal within the Premises and in <br />accordance with the nature of the estate of which Lessor is seized. The provisions of <br />this paragraph shall apply whether or not this Lease purports to cover the whole or a <br />fractional interest in the Coa] estates. <br />If, where Lessor owns a lesser interest than the entire and undivided surface <br />or Coal estate of the Premises, Lessor subsequently acquues any portion of such <br />previously unowned interest while this Lease remains in force, such surface and Coa] <br />interests shall be automatically made subject to this Lease, and all payments due under <br />this Lease shall be increased proportionately, where appropriate, following the acquisition <br />by Lessor of the additional interest. Lessor agrees to notify Lessee in writing upon <br />acquisition of any such additional interest in the Premises or in the Unitized Premises <br />at least forty-five (45) days before any such paymenu become due, or Lessee will not be <br />required to increase the payments until the following payment date. <br />4.5 I~gistics of Payments <br />(a) Payment Schedule. Production royalties shall be paid to <br />Lessor within thirty (30) days after the last calendar day of the calendar month during <br />which the Coal upon which said production royalties are payable was sold. Payments <br />shall be made directly either by mailing or delivering same to Lessor at the address first <br />stated in this Lease. <br />(b) Assignments of Interests. Notwithstanding any actual or <br />constructive knowledge of or notice to Lessee, no change or division in ownership of the <br />Premises, minimum royalties, or other payments, however accomplished, shall be binding <br />upon Lessee (except at Lessee's option in any particular case), until sixty (60) days after <br />Lessee shall have been furnished with a certified copy or photocopy of the recorded <br />instrument or instruments evidencing the change or transfer, including any intermediate <br />transfer from Lessor or its successors or assigns not theretofore furnished to Lessee, and <br />such change or transfer shall not affect any payments made prior to said date, whether <br />or not due. No change or division in the ownership of the Premises, minimum royalties, <br />royalties, or other payments shall operate to increase the obligations or diminish the <br />rights of Lessee. No division of royalties or other payments shall be made effective <br />except at the end of the calendar month. ff the ownership of minimum royalties, <br />royalties, or other payments becomes changed into separate, divided portions of said <br />Premises, Lessee may pay such minimum royalties, royalties, or other payments to the <br />separate owners jointly or may suspend payment until such time as said separate owners <br />shall agree in writing upon the apportionment of such minimum royalties, royalties, or <br />other payments, and furnish Lessee with a certified copy or photocopy of the recorded <br />instrument or instruments evidencing such agreement. In the event of assignment of this <br />Lease as to a segregated portion or portions of the Premises, all minimum royalties <br />payable hereunder shall be apportionable as between the several leasehold owners on a <br />proportionate basis according to the acreage area of each, and default in the payment <br />of one shall not affect the right of other leasehold owners hereunder. <br />-4- <br />