Silviculture. NPNS shall carry out and pay for all silviculture work necessary to produce sufficient Silviculture Credits (as that term is referenced in the Forest Sustainability Regulations under the Forests Act (Nova Scotia)) to satisfy its operational requirements (including maintaining the AAC as detailed in Exhibit D). NPNS shall have the right to all the “Silviculture Credits” created by the silviculture activities carried out on the Timberlands by NPNS during the Term and those Silviculture Credits created by the silviculture activities carried out on the Timberlands by Neenah in 2008, which credits Neenah shall assign to NPNS on the Effective Date. NPNS shall provide Neenah with a silviculture plan (the “Silviculture Plan”) on an annual basis during the Term and copies of all silviculture activities filed with Nova Scotia Department of Natural Resources. The annual Silviculture Plans shall be subject to Owner’s approval, which shall not be unreasonably withheld or delayed if the Silviculture Plan produces sufficient Silviculture Credits (as that term is referenced in the Forest Sustainability Regulations under the Forests Act (Nova Scotia) to satisfy its operational requirements (including maintaining the AAC as detailed in Exhibit D. If NPNS fails to conduct silviculture work then Neenah shall have the right to include the per ton cost of Silviculture Credits in the calculation of the price for Qualifying Stumpage.
Appears in 2 contracts
Sources: Stumpage Agreement (Neenah Paper Inc), Stumpage Agreement (Neenah Paper Inc)