Common use of Mineral Reserves Clause in Contracts

Mineral Reserves. Other than as described in SCHEDULE 5.23, no mineral reserves owned by or leased to Seller and included among the Acquired Assets are subject to any agreement, contract or arrangement which imposes any obligation on Seller, and all rentals, royalties, and taxes thereon or other royalties or payments due with respect to such mineral reserves or under such agreements and payable by Seller in respect of periods prior to the Closing Date have been or will be timely, properly and fully paid.