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PERMFILE120318
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PERMFILE120318
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Last modified
8/24/2016 10:19:06 PM
Creation date
11/25/2007 8:20:58 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1996083A
IBM Index Class Name
Permit File
Doc Date
5/11/2004
Section_Exhibit Name
Exhibit 01 Coal and Water Rights
Media Type
D
Archive
Yes
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i ~ <br />The foregoing dollar amounts specified in "(a)" for each year <br />after 2000 shall be indexed annually commencing January 1, <br />1996, in the manner described above, but in no event shall <br />such amounts be reduced by such indexing to an amount less <br />than the amounts specified in "(a)" for the applicable year. <br />The Minimum Royalty shall be calculated based on the <br />foregoing tonnages regardless of the actual Mine production, <br />if any, shall be non-refundable and shall not be recouped, <br />credited or offset against any Production Royalties or other <br />payments due hereunder except as provided in the following <br />sentence. To the extent the Minimum Royalty paid by Grantee <br />for 1997 exceeds Production Royalties actually paid in 1997, <br />such excess shall be recoupable by Grantee, without interest, <br />out of Production Royalties for subsequent years but only to <br />the extent the Production Royalties actually paid to Grantor <br />in any such subsequent year exceed the Minimum Royalty for <br />such subsequent year. <br />Notwithstanding any other provision of this Deed or <br />any other document or instrument executed or delivered in <br />connection with the closing under the Purchase Agreement, <br />Grantor's sole remedy for non-payment of the Minimum Royalty <br />for the year 2001 or any subsequent year (the "Post-2000 <br />Minimum Rovalties") shall be limited to exercising its right <br />of reentry provided below or foreclosing on the Assets under <br />the Deed of Trust. Nothing in this paragraph shall constitute <br />a release or discharge of the Post-2000 Minimum Royalties or <br />limit the right or ability of Grantor, or the trustee under <br />the Deed of Trust, to exercise any right, power or remedy with <br />respect to the Assets, including without limitation, the right <br />to name Grantee or any other person as a party defendant in <br />any action or suit for judicial foreclosure or foreclosure by <br />power of sale, so long as no judgment in the nature of a <br />deficiency judgment for any Post-2000 Minimum Royalties shall <br />be asked for (unless required by applicable law) or (if <br />obtained) enforced against Grantee. <br />All Production Royalties due hereunder shall be <br />calculated based on a short ton of 2000 pounds as measured by <br />Grantee at the Mine Ioadout facilities, according to the <br />weighing provisions of the Coal Sales Agreement dated <br />January 6, 1995, between Grantee and Grantor (the "Coal Sales <br />Agreement"). Coal produced from the Land will be measured <br />prior to being commingled with any other coal. Grantor shall <br />have the same inspection rights hereunder as under the Coal <br />Sales Agreement. <br />1(~ Production Royalty payments shall be made monthly by <br />(~ the last day of the month after the month in which the <br />-6- <br />
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