Reserve Estimate Sample Clauses

A Reserve Estimate clause defines the process and criteria for determining the amount of financial reserves set aside for specific obligations or potential liabilities under a contract. Typically, this clause outlines how the estimate is calculated, who is responsible for preparing it, and when it must be updated or reviewed, such as in the context of insurance claims or project contingencies. Its core function is to ensure that adequate funds are available to cover anticipated costs, thereby managing financial risk and providing transparency for all parties involved.
Reserve Estimate. 14 1.91 Response Notice ............................................14 1.92
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Reserve Estimate. The coal stored at the Northfork coal reserve consists of 5 separate piles of coarse or “forked” coal that are located primarily along hillsides, and the fine coal storage pond that was created by Island Creek. All have been evaluated by Black Diamond Enterprises, Inc. Those evaluations and reserve estimates were reviewed by the author and found to be professional and accurate. Following are the details of each: Length – 1,328 feet Weighted Average Width – 48 feet Weighted Average Depth – 65 feet Specific Weight – 76.4 lb/ft3 Total Tons – 158,276 Tons Length – 1,256 feet Weighted Average Width – 62 feet Weighted Average Depth – 89 feet Specific Weight – 76.2 lb/ft3 Total Tons – 264,056 Tons Length – 1,860 feet Weighted Average Width – 52 feet Weighted Average Depth – 58 feet Specific Weight – 76.4 lb/ft3 Total Tons – 214,293 Tons Length – 1,190 feet Weighted Average Width – 120 feet Weighted Average Depth – 72 feet Specific Weight – 76.4 lb/ft3 Total Tons – 392,757 Tons Length – 852 feet Weighted Average Width – 294 feet Weighted Average Depth – 54 feet Specific Weight – 76.4 lb/ft3 Total Tons – 516,707 Tons Surface Area – 3,028,570 ft2 + 24.66 Acres Weighted Average Depth – 74 feet Specific Weight – 76.2 lb/ft3 Total Tons – 3,028,570 Total Fine Coal Tonnage 3,028,570 Tons Total Coarse Coal Tonnage 1,546,089 Tons TOTAL PROVEN RESERVE = 4,574,659 TONS COAL VALUE To determine the value of coal of the quality of this reserve, the author contacted an acquaintance, M▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. M▇. ▇▇▇▇▇▇▇ has operated a coal brokerage business based in Beckley, West Virginia for more than 20 years. He further provided the attached notarized letter stating the coal of the subject reserve quality has a current market value of US $100 to $125 per ton. He further suggested that I contact Mr. Teddy Schonan for further value confirmation. Mr. Schonan operates an international coal trading business based in Brooklyn, New York that buys and sells many millions of tons of coal per year Based on this information, the author has chosen to use an average value price of US $110.00 per ton for the purpose of this report. As calculated above, the total amount of coal located in this reserve has been proven to be 4,574,659 tons. At the above-stated value of US $110 per ton, the total gross value of this reserve may be calculated as US $503,212,490 or more than five hundred three million US dollars. I hereby certify that I have over 20 years experience as a teacher of the Engineering Tr...
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Reserve Estimate. On or before November 1 of each Fiscal Year, Tenant shall prepare an estimate (the “Reserve Estimate”) of Reserve Expenditures anticipated during the ensuing Fiscal Year and shall submit such Reserve Estimate to Landlord for its review. Such Reserve Estimate shall reflect by line item the projected budget for Reserve Expenditures for the Leased Property and assumptions on the basis of which such line items were prepared in narrative form if necessary, including separate budget items for all projected expenditures for replacements, substitutions and additions to Tenant Personal Property. Tenant shall provide to Landlord reasonable additional detail, information and assumptions used in the preparation of the Reserve Estimate as requested by Landlord and shall also submit to Landlord with the Reserve Estimate good faith longer range projections of planned Reserve Expenditures for an additional three (3) Fiscal Years. The Reserve Estimate shall be prepared and handled as an aggregate for
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Reserve Estimate. The estimates of copper ore reserves for the Morenci mine at year-end 2014 set forth at pages 30-32 of Freeport-McMoRan’s Annual Report on Form 10-K for the year ended December 31, 2014 have been prepared in accordance with mining and engineering practice acceptable in the United States of America.
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Reserve Estimate. The estimates of copper and cobalt ore reserves for the Tenke Fungurume mine at year-end 2015 set forth at pages 32-35 of Freeport-McMoRan’s Annual Report on Form 10-K for the year ended December 31, 2015 have been prepared in accordance with mining and engineering practice acceptable in the United States of America.
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Reserve Estimate. The original operator of the area, Newmont Mining, conducted extensive drill tests and ore sample analysis of the property which has been made available to SL. Additionally, independent drill tests have been conducted which infer total recoverable gold reserves on the property of approximately 1500kg (valued at approximately $60 million at current prices).
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Related to Reserve Estimate

  • Pre-Estimate The parties agree that if Market Quotation applies an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection against future risks and except as otherwise provided in this Agreement neither party will be entitled to recover any additional damages as a consequence of such losses.

  • Cost Estimate The cost estimate shall set out the estimated costs for the proposed Change Order in such a way that a fair evaluation can be made. It shall include a breakdown for labor, materials, equipment and markups for overhead and profit, unless TxDOT agrees otherwise. If the work is to be performed by Subcontractors and if the work is sufficiently defined to obtain Subcontractor quotes, DB Contractor shall obtain quotes (with breakdowns showing cost of labor, materials, equipment and markups for overhead and profit) on the Subcontractor’s stationery and shall include such quotes as back-up for DB Contractor’s estimate. No markup shall be allowed in excess of the amounts allowed under Section 10.6. DB Contractor shall identify all conditions with respect to prices or other aspects of the cost estimate, such as pricing contingent on firm orders being made by a certain date or the occurrence or non-occurrence of an event.

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds the CITY’s stated construction budget by ten percent (10%) or more, CONSULTANT shall make recommendations to CITY for aligning the Project design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Estimate The Engineer shall independently develop and report quantities necessary to construct the contract in standard State bid format at the specified milestones and Final PS&E submittals. The Engineer shall prepare each construction cost estimates using Estimator or any approved method. The estimate shall be provided at each milestone submittal or in DCIS format at the 95% and Final PS&E submittals per State’s District requirement.

  • Statement of Estimated Direct Expenses In addition, Landlord shall give Tenant a yearly expense estimate statement (the “Estimate Statement”) which shall set forth Landlord’s reasonable estimate (the “Estimate”) of what the total amount of Direct Expenses for the then-current Expense Year shall be and the estimated Tenant’s Share of Direct Expenses (the “Estimated Direct Expenses”). The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Direct Expenses under this Article 4, nor shall Landlord be prohibited from revising any Estimate Statement or Estimated Direct Expenses theretofore delivered to the extent necessary. Thereafter, Tenant shall pay, with its next installment of Base Rent due that is at least thirty (30) days thereafter, a fraction of the Estimated Direct Expenses for the then-current Expense Year (reduced by any amounts paid pursuant to the last sentence of this Section 4.4.2). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year, including the month of such payment, and twelve (12) as its denominator. Until a new Estimate Statement is furnished (which Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the total Estimated Direct Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant.