Royalty Amount and Adjustment Sample Clauses

Royalty Amount and Adjustment. (i) The amount of the Royalty due and owing as of the Closing Date shall be $0.50 per ton of all Fee Coal and Leased Coal sold from coal production in the State of Indiana, Illinois, Ohio or California, and shall be $0.35 per ton of all Fee Coal and Leased Coal sold from coal production in the State of West Virginia, Kentucky or Tennessee (such per ton amounts, the "Base Royalty"). Tonnage shall be determined by use of certified scales, or if certified scales are not utilized or otherwise available, then by procedures standard in the coal industry and mutually agreed to by Seller and Purchaser. If Coal Components are produced and sold, then the Royalty due and owing on all such Coal Components shall be two percent (2.0%) of the gross proceeds received from the sale thereof. Gross proceeds shall include any cash consideration, as well as the value of any non-cash consideration received, without allowance for any deductions of any kind or character. The two percent (2%) Royalty on Coal Components shall not be adjusted and shall remain fixed. (ii) Beginning on June 1, 1999, and on each June 1 thereafter, for so long as any Royalty may be due under this Subsection 5.10.1 on any Fee Coal or Leased Coal, the Royalty shall be adjusted up or down, but never below the initial Base Royalty set forth in clause (i) above. This annual adjustment shall be made starting June 1, 1999, notwithstanding the fact that the Royalty is not payable except on the production from and sale of Coal Reserves from and after June 1, 2002. Calculation of the adjustment shall be made during May 1999, and during each May thereafter, to be effective for all production of Fee Coal and Leased Coal from and after the immediately following June 1. The Royalty shall be adjusted by multiplying the Base Royalty by a fraction. The denominator of the fraction shall always be the Consumer Price Index for All Urban Consumers (reference base 1982-84=100), unadjusted index, all items, as first published by the United States Department of Labor, Bureau of Labor Statistics ("CPI-U") for the month of March 1998. The numerator of the fraction shall be the CPI-U for March of the year in which the adjustment is being made. (iii) In the event of any dispute regarding the calculation of the adjustment to the Royalty as provided in subclause (ii) above, Purchaser shall continue to pay the Royalty at the previous rate, and after the dispute is finally resolved refunds to Purchaser, or additional Royalty to Seller...
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Related to Royalty Amount and Adjustment

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Purchase Price Credit Adjustments If on any day: (a) the Outstanding Balance of a Receivable purchased from any Originator is: (i) reduced as a result of any defective or rejected or returned goods or services, any cash discounts, any volume discounts or any adjustment or otherwise by such Originator or any Affiliate thereof (other than as a result of a charge-off of such Receivable or cash Collections applied to such Receivable), (ii) reduced or canceled as a result of a setoff in respect of any claim by any Person (whether such claim arises out of the same or a related transaction or an unrelated transaction), (iii) reduced on account of the obligation of such Originator or any Affiliate thereof to pay to the related Obligor any rebate or refund, or (iv) less on the date of its sale then the amount reflected in the applicable Purchase Report, or (b) any of the representations and warranties set forth in Sections 2.1(i), (j), (l), (r), (s), (t), (u) and the second sentence of Section 2.1(q) hereof is not true when made or deemed made with respect to any such Receivable, then, in such event, Buyer shall be entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable to the applicable Originator hereunder equal to (x) in the case of clauses (a)(i) – (iv) above, the amount of such reduction or cancellation or the difference between the actual Outstanding Balance and the amount reflected in the applicable Purchase Report, as applicable, and (y) in the case of clause (b) above, the amount of the Outstanding Balance of such Receivable, which shall be reconveyed by the Buyer to the applicable Originator following receipt of such amount. If such Purchase Price Credit exceeds the Original Balance of the Receivables originated by the applicable Originator on any day, such Originator shall pay the remaining amount of such Purchase Price Credit in cash immediately, provided that if the applicable Termination Date has not occurred, such Originator shall be allowed to deduct the remaining amount of such Purchase Price Credit from any indebtedness owed to it under its Subordinated Note.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Operating Expense Limit.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • CLOSING COSTS AND ADJUSTMENTS All adjustments are made as of settlement date.