SHORTFALL ACRES TO INCLUDE ALL MINERALS Sample Clauses

The 'Shortfall Acres to Include All Minerals' clause ensures that any acreage shortfall in a land or mineral rights agreement will be calculated to include all types of minerals present, not just specific ones. In practice, if the actual acreage delivered is less than what was agreed upon, the shortfall calculation will consider the presence of oil, gas, coal, or other minerals, rather than limiting the calculation to a single resource. This clause's core function is to provide comprehensive coverage and prevent disputes by clarifying that all mineral interests are included when determining any shortfall, thereby protecting the interests of the party entitled to the full range of mineral rights.
SHORTFALL ACRES TO INCLUDE ALL MINERALS. (a) The Band agrees that, prior to the Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan. (b) Notwithstanding subsection (a) above, prior to the Shortfall Acres Acquisition Date, the surface of Entitlement Land may be Purchased without acquiring all, or any, of the underlying Minerals, provided however: (i) the eligibility of such Entitlement Land to become an Entitlement Reserve shall be subject to the terms and conditions of this Agreement, including, without limitation, the terms of section 4.03, this Article, Article 8 and Article 11; and (ii) in any event, the aggregate surface area of all Entitlement Land Purchased without acquiring all, or any, of the underlying Minerals prior to the Shortfall Acres Acquisition Date, shall not exceed Four Thousand (4,000) acres.
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SHORTFALL ACRES TO INCLUDE ALL MINERALS. The Entitlement Bands agree that, prior to their Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan.
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SHORTFALL ACRES TO INCLUDE ALL MINERALS. (a) The Band agrees that subject to subsection (b), prior to their Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan. (b) Prior to the Band's Shortfall Acres Acquisition Date, the surface of Land that is not situate within an Urban Municipality may be Purchased without acquiring all, or any, of the underlying Minerals, provided, however: (i) eligibility of such Land for creation as an Entitlement Reserve shall be subject to and in accordance with the terms and conditions of this Agreement, and further, none of such Land shall be set apart as Entitlement Reserve until after the Band's Shortfall Acres Acquisition Date; (ii) the portion of the Trust Property at the time of such Purchase on deposit in the Trust Account (which includes, for greater certainty, the funds invested in investment instruments purchased utilizing monies from the Trust Account and all accrued interest thereon) less the purchase price of the surface of such Land to be Purchased, must exceed, the result obtained by multiplying the average Price per acre paid for all Entitlement Land Purchased that includes all Minerals, by, the number of acres that is equal to the difference between the Shortfall Acres and the area of Land expressed in acres that has at the time of such Purchase been set apart as Entitlement Reserve or Entitlement Reserves, by, one and one-half; (iii) in any event, the aggregate surface area of all Land Purchased without acquiring all, or any, of the underlying Minerals prior to the Shortfall Acres Acquisition Date shall not exceed 640 acres.
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SHORTFALL ACRES TO INCLUDE ALL MINERALS. (a) The Band agrees that subject to subsection (b), prior to their Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan. (b) Prior to the Band’s Shortfall Acres Acquisition Date and subject to the upper limit requires for secton 4.03, the surface of the Land may be purchased without acquiring all, or any, of the underlying Minerals, provided however: (i) eligibility of such land for creation as an Entitlement Reserve shall be subject to and in accordance with the terms and conditions of this Agreement; (ii) in any event, the aggregate surface area of all land purchased without acquiring all, or any, of the underlying minerals prior to the Shortfall Acres Acquisition Date, shall not exceed 4,000 acres.
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Related to SHORTFALL ACRES TO INCLUDE ALL MINERALS

  • Parties at Interest The Agreement herein set forth has been and is made solely for the benefit of the Underwriters and the Company and to the extent provided in Section 9 hereof the controlling persons, partners, directors and officers referred to in such Section, and their respective successors, assigns, heirs, personal representatives and executors and administrators. No other person, partnership, association or corporation (including a purchaser, as such purchaser, from any of the Underwriters) shall acquire or have any right under or by virtue of this Agreement.

  • Mortgage Payments Received After Transfer Date The amount of any related Monthly Payments received by the Seller after the related Transfer Date shall be forwarded to the Purchaser by overnight mail within one (1) Business Day following the date of receipt. The Seller shall notify the Purchaser of the particulars of the payment, which notification requirement shall be satisfied if the Seller forwards with its payment sufficient information to permit appropriate processing of the payment by the Purchaser. The Seller shall assume full responsibility for the necessary and appropriate legal application of such Monthly Payments received by the Seller after the related Transfer Date with respect to related Mortgage Loans then in foreclosure or bankruptcy; provided, for purposes of this Agreement, necessary and appropriate legal application of such Monthly Payments shall include, but not be limited to, endorsement of a Monthly Payment to the Purchaser with the particulars of the payment such as the account number, dollar amount, date received and any special Mortgagor application instructions and the Seller shall comply with the foregoing requirements with respect to all Monthly Payments received by it after the related Transfer Date.

  • CP Costs Seller shall pay CP Costs with respect to the Capital associated with each Purchaser Interest of Company for each day that any Capital in respect of such Purchaser Interest is outstanding. Each Purchaser Interest funded substantially with Pooled Commercial Paper will accrue CP Costs each day on a pro rata basis, based upon the percentage share the Capital in respect of such Purchaser Interest represents in relation to all assets held by Company and funded substantially with Pooled Commercial Paper.

  • CP Costs Payments On each Settlement Date, Seller shall pay to Agent (for the benefit of the Conduits) an aggregate amount equal to all accrued and unpaid CP Costs in respect of the outstanding Capital of each of the Conduits for the related Settlement Period in accordance with Article II.

  • Contributed Assets In accordance with Section 704(c) of the Code, income, gain, loss and deduction with respect to any property contributed to the Company with an adjusted basis for federal income tax purposes different from the initial Asset Value at which such property was accepted by the Company shall, solely for tax purposes, be allocated among the Members so as to take into account such difference in the manner required by Section 704(c) of the Code and the applicable Regulations.