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<br />numerator of which is the latest available Index Value as of <br />the applicable adjustment date, and the denominator of which <br />is the Index Value used as the numerator for the prior <br />adjustment fraction (or, in the case of the January 1, 1996 <br />adjustment, the Index Value based on the latest information <br />available as of July 1, 1995)• The "Index Value" shall be <br />determined by multiplying the indicated index by the indicated <br />weighting factor and adding the weighted values: <br />Index Code Weight <br />Western Underground 1211-21491 25% <br />Coal, Contract Price <br />Mining Machinery and 3532-5 15% <br />Equipment, Underground <br />Railroad, Coal, 4011-A31 25°s <br />Bituminous <br /> Producer Price Index None 25% <br /> Industrial Commodities <br />~`~ #2 Diesel Fuel 03 10% <br /> "Actual Sales Price" shall be determined by averaging <br /> the gross sales price under Grantee's coal supply contracts, <br /> purchase orders and other sales arrangements under which coal <br /> was sold from any mine which includes some or all of the Land <br /> ("Mine") during the most recently ended calendar quarter, <br /> using a weighted average based upon the number of tons sold <br /> under each contract, FOB Mine. At Grantor's election, coal <br /> sales to any parent, subsidiary, joint venturer or other <br /> person or entity affiliated, directly or indirectly, with <br /> Grantee or involved in the operation of any Mine <br /> (collectively, "Affiliates"1, shall be excluded from such <br /> weighted average. For purposes of calculating the royalty due <br /> hereunder, the gross sales price under Grantee's sales <br /> arrangements shall be determined without allowance or <br /> deduction of any kind, whether or not permitted under such <br /> sales arrangements, including, without limitation, adjustments <br /> or allowances for black lung payments, AML fees, inherent or <br /> surface moisture, washing, severance taxes or other taxes <br /> based upon or measured by coal production, transportation <br /> costs beyond the portal of the mine, insurance, royalties and <br /> other payments based upon or measured by coal production, <br /> crushing or screening, or any value enhancement of the coal <br /> prior to sale (collectively, "Deductions"), and Grantee shall <br />be obligated to pay such costs, including, without limitation, <br /> such taxes, attributable to Grantor's royalty interest. In <br />-4- <br />