Damaged, Lost, Impaired or Bypassed Coal Sample Clauses

Damaged, Lost, Impaired or Bypassed Coal a. If any of the economically recoverable Lessor’s Coal, within the meaning of MER, is lost or bypassed as a proximate result of Lessee’s failure to operate as a prudent mine operator (“Lost Coal”), Lessee shall pay production royalty for the Lost Coal as if mined and removed, at the times Lessee would otherwise have mined the Lessor’s Coal in its normal Mining Operations. b. If Lessee encounters any substantial seam of the Lessor’s Coal that Lessee considers economically un-recoverable for any reason, Lessee shall notify Lessor of that fact as promptly as circumstances reasonably permit. Upon receipt of the notice, Lessor shall have the right to appoint a representative to inspect mat portion of Lessor’s Coal that Lessee considers to be economically un-recoverable and Lessor’s representative shall be given reasonable access to the mine workings and all pertinent information available to Lessee regarding the Lessor’s Coal. However, Lessee shall not be obligated to delay its Mining Operations in order to afford such access to Lessor’s representative and Lessor’s representative shall not be permitted to unreasonably interfere with Lessee’s Mining Operations. At Lessor’s request, Lessee’s representative shall meet and confer with Lessor’s representative and the representatives shall endeavor in good faith to agree whether the Lessor’s Coal at issue is economically recoverable. If the representatives are unable to agree on that issue, they shall select a disinterested and independent person experienced in geology and coal mining economics to act as an arbitrator, whose decision shall be binding upon Lessor and Lessee. The prevailing party shall be entitled to reimbursement by the other party for a portion or all of the arbitration costs, as determined by the arbitrator to be appropriate. If the representatives selected by Lessor and Lessee cannot agree on an arbitrator, either party may invoke the dispute resolution provisions of Section 20 of this Lease to resolve the dispute. Even if it is determined, pursuant to the procedures set forth in this Section 9.13, that the Lessor’s Coal in dispute is economically recoverable, Lessee may elect not to mine it and, if Lessee so elects, the Lessor’s Coal shall be deemed to be Lost Coal. c. Any payment to be made by Lessee for a royalty paid on Lost Coal shall be based on the Gross Sales Price, as used in Section 7.1, for a one (1) year period (or the period of time the Mining Operations have produced coal if less tha...
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Related to Damaged, Lost, Impaired or Bypassed Coal

  • If You Fail to Sign Lease After Approval Unless we authorize otherwise in writing, you and all co-applicants must execute the Lease after your Application is approved. If you or any co-applicant fails to sign as required, we may keep the application deposit as liquidated damages and terminate all further obligation to each other.

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