Laserfiche WebLink
• <br />TRANSACTION AGREEMENT <br />(Seneca Mine) <br />This Agreement is made as of this 1st day of September, 1994, <br />by and between PEABODY COAL COMPANY, a Delaware corporation ("PCC") <br />and SENECA COAL COMPANY, a Delaware corporation ("SCC"). <br />W I T N E S S E T H: <br />WHEREAS, PCC is the owner of the Seneca Mine and other related <br />assets located in Routt County, Colorado ("Seneca Mine"); and <br />WHEREAS, SCC is a wholly-owned subsidiary of PCC and PCC, by <br />its Board of Directors, has been authorized and directed to convey <br />the Seneca Mine to SCC; <br />NOW, THEREFORE, in order to provide for such conveyance of the <br />Seneca Mine in an orderly manner and to set forth the understanding <br />and agreement of the parties regarding such conveyance and for good <br />and valuable consideration, PCC and SCC agree and state as follows: <br />1. Assets to be Conveyed. PCC shall transfer and convey to <br />SCC, by bill of sale, assignment, deed or other suitable conveyance <br />instrument all assets, rights and interests now constituting the <br />Seneca Mine (but excluding any cash or intra-PCC accounts) and the <br />parties agree to execute and deliver all such instruments and to <br />otherwise take all such actions as are reasonably required in order <br />to effect such conveyance. The parties agree to take all <br />reasonable efforts to effect this conveyance as of September 15, <br />1994, or as soon thereafter as reasonably practicable. <br />2. Real Property Interim Right of Entry. PCC hereby grants <br />unto SCC, effective September 15, 1994, a right of entry upon all <br />lands which are owned or controlled by PCC as part of the Seneca <br />Mine in Colorado, including but not limited to the lands subject to <br />the applicable mining permits and pending applications for the <br />Seneca II, Seneca II-W, and Mesa Gravel permits, until such time as <br />title to such lands has been duly conveyed by PCC to SCC by <br />sufficient conveyance instruments. <br />3. ~ Permit Obligations. SCC agrees to assume the <br />obligations and liability of PCC as of the date of the approval by <br />the State of Colorado of the transfer of mining permits for the <br />Seneca Mine from PCC to SCC. <br />4. Employees. All employees of PCC who will be transferred <br />to SCC as part of this transaction shall remain employees of PCC <br />until October 1, 1994, notwithstanding the earlier conveyance of <br />• assets to SCC. PCC and SCC agree that for their mutual convenience <br />SENECA.TA1 1 <br />