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C~ <br />the event that all of Grantee's sales arrangements are <br />excluded at Grantor's election, "Actual Sales Price" shall be <br />determined in the same manner as for non-arm's-length sales <br />under federal coal leases containing ad valorem royalties (as <br />currently defined in 30 C.F.R, part 206, subpart F), as such <br />federal royalty valuation standards may hereafter be amended <br />and interpreted, provided that no Deductions of any kind shall <br />be permitted, whether or not permitted under such federal <br />standards. <br />The "Minimum Rovalty" payable hereunder shall be <br />calculated on an annual basis as follows: <br />Calendar <br />Year Minimum Rovalty <br />1995 ~ <br /> <br /> <br />1996 ~ <br />1997 <br />1998 <br />1999 - <br />2000 <br />2001 the greater of (a) ~ and <br /> (b) ~ of the Actual Sales Price <br /> multiplied by ~ tons <br />2002 the greater of (a) ~ and <br /> (b) ~ of the Actual Sales Price <br /> multiplied by ~ tons <br />2003 the greater of (a) ~ and <br /> (b) ~ of the Actual Sales Price <br /> multiplied by ~ tons <br />2004 the greater of (a) ` and <br /> (b} ~ of the Actual Sales Price <br /> multiplied by ~ tons <br />2005 the greater of (a) ~ and <br />through (b) i of the Actual Sales Price <br />2014 multiplied by ~ tons <br />2015 None <br />and thereafter <br />-5- <br />