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2013-04-22_REVISION - M1987064
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2013-04-22_REVISION - M1987064
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Last modified
6/16/2021 2:10:36 PM
Creation date
4/25/2013 5:14:55 PM
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DRMS Permit Index
Permit No
M1987064
IBM Index Class Name
REVISION
Doc Date
4/22/2013
Doc Name
SO APPROVAL
From
DRMS
To
OPERATOR
Type & Sequence
SO1
Email Name
KAP
Media Type
D
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No
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other than its professional advisors who have a need to have access to and knowledge of such <br />confidential information in connection with auditing Lessee's determination of the Royalties, (ii) <br />use such confidential information solely for auditing Lessee's determination of the Royalties, <br />and (iii) take all precautions to keep confidential such information as are reasonable and prudent <br />under the circumstance, but in no event fewer or less effective precautions than Lessor takes to <br />protect its own information. <br />16. Disputes. In the event of a dispute between Lessor and Lessee under this <br />Agreement, as a prerequisite to any litigation of such dispute, the parties agree to make a good <br />faith effort to resolve the dispute by nonbinding mediation. In the absence of agreement on <br />mediator selection and mediation procedures, the mediation shall be conducted pursuant to the <br />Colorado Uniform Arbitration Act according to the then applicable mediation rules of the <br />American Arbitration Association. The cost of the mediation shall be equally shared by the <br />parties. <br />17. Default. If the Rents and/or Royalties above - reserved or any part thereof shall be <br />owing and unpaid after the due date thereof, or if any other default (including a Guaranty <br />Default, as defined below) shall occur as to any of the covenants or agreements herein contained <br />by the Lessee, the Lessor may, at Lessor's option, address a written notice to the Lessee <br />specifying such default or defaults and giving the Lessee thirty (30) days' time (a) from the date <br />of mailing the same if such notice is sent (i) by certified mail, return receipt requested and <br />receipted for by Lessee, or (ii) by nationally recognized overnight delivery, or (b) from the date <br />of personal service upon Lessee (the "Default Notice Date "), to correct such default or defaults, <br />during said period this Lease shall remain in full force and effect. If the Lessee shall within the <br />said thirty (30) day period after the Default Notice Date remedy such default or defaults, or <br />object in good faith to the amounts claimed as due and owing, this Lease shall continue in full <br />force and effect. If the Lessee shall fail to remedy such default or defaults within such period, <br />then the Lessor shall have the right without further notice or demand to terminate this Lease, or <br />terminate Lessee's right to possession of the Properties without terminating this Lease, and in <br />either event Lessee shall immediately surrender the Properties to Lessor, and if Lessee fails to do <br />so, Landlord may, without prejudice to any other remedy which it may have for possession or <br />arrearage in rental, enter upon and take possession of the Properties and expel or remove Lessee <br />and any other person who may be occupying the Properties or any part thereof, in accordance <br />with the requirements of applicable laws. <br />An event of default under this Lease (a "Guaranty Default ") shall occur and all notice <br />and remedy provisions set forth above with respect to default shall apply if Summit Materials, <br />LLC ( "Summit") shall fail to satisfy the payment and performance obligations of Lessee under <br />that certain Stock Purchase Agreement, dated as of November 30, 2012, by and among the <br />Lessee, Sandco, Inc. (the "Company ") and John C. Dillon, David D. Dillon, Linda E. Head, Erik <br />D. Dillon, Katie C. Dillon, Brandon A. Head, Rachel E. Piccoli, Waylon J. Dillon, Colby D. <br />Dillon and Clay W. Dillon (the "Sellers), (subject to any defenses to payment or performance <br />that Lessee may have) pursuant to that certain Guaranty Agreement, dated as of the date hereof <br />between Summit, the Company, and the Sellers. In the event of a Guaranty Default, Summit <br />shall be given the opportunity to remedy such default in the same manner as a default by the <br />Lessee set forth in the foregoing paragraph, and a copy of the notice of default required to be <br />11 <br />
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