Reclamation Bonding. The bond required by and filed with the Utah Division of Oil, Gas and Mining (“UDOGM”) in connection with the issuance of a mine permit which includes the Leased Premises may be accepted by the Director to satisfy Lessor’s bonding requirements with respect to Lessee’s reclamation obligations under this Lease; provided, however, upon notice to Lessee, the Lessor may, in its reasonable discretion, determine that the bond filed with UDOGM is insufficient to protect Lessor’s interests. In such an event the Director shall enter written findings as to the basis for calculation of the perceived insufficiency and enter an order establishing the amount of additional bonding required. Lessee shall file any required additional bond with Lessor within thirty (30) days after demand by Lessor. Lessor may increase or decrease the amount of any additional bond from time to time in accordance with the same procedure.
Reclamation Bonding. The bond required by and filed with the Utah Division of Oil, Gas and Mining (“UDOGM”) in connection with the issuance of a mine permit which includes the Leased Premises shall be deemed to satisfy Lessor’s bonding requirements with respect to Lessee’s reclamation obligations under this Lease; provided, however, upon notice to Lessee and a public hearing with respect to the basis for its decision, the Lessor may, in its reasonable discretion, determine that the bond filed with UDOGM is insufficient to protect Lessor’s interests. In such an event the Lessor shall enter written findings as to the basis for its calculation of the perceived insufficiency and enter an order establishing the amount of additional bonding required. Lessee shall file any required additional bond with Lessor within thirty (30) days after demand by Lessor. Lessor may increase or decrease the amount of any additional bond from time to time in accordance with the same procedure.
Reclamation Bonding. The Debtors shall promptly finalize a solution for all of their continuing self-bonded reclamation obligations with Wyoming, New Mexico, Illinois and Indiana (the “Bonding Solution”). The Debtors shall provide updates every two weeks to the Initial Private Placement Parties’ professionals regarding their efforts to achieve the Bonding Solution.
Reclamation Bonding. Each Seller is up to date in respect of and in compliance with all of the reclamation bonding requirements related to the Transactions, in all material respects. Other than those security assurances set forth on Schedule 3 hereto, there are no other bonds, guaranties, letters of credit, or other forms of financial assurances supporting the Transferred Properties that any Seller or any of its respective Affiliates possesses or has delivered to other Persons as security for performance of certain obligations to Government Authorities or other Persons.
Reclamation Bonding. The bond filed with the Utah Division of Oil, Gas and Mining (“UDOGM”) in connection with the issuance of a mine permit which includes the Leased Premises shall be deemed to satisfy Lessor’s bonding requirements with respect to Lessee’s reclamation obligations under this Lease; provided, however, upon notice to Lessee and a public hearing with respect to the basis for its decision, the Lessor may, in its reasonable discretion, determine that the bond filed with UDOGM is insufficient to protect Lessor’s interests. In such an event the Lessor shall enter written findings as to the basis for its calculation of the perceived insufficiency and enter an order establishing the amount of additional bonding required. Lessee shall file any required additional bond with Lessor within thirty (30) days after demand by Lessor. Lessor may increase or decrease the amount of any additional bond from time to time in accordance with the same procedure. Lessee may combine any additional bond required under this paragraph with the original lease bond filed under Paragraph 10.1, Lease Bond Required.
Reclamation Bonding. The bond filed with the Utah Division of Oil, Gas and Mining (“UDOGM”) in connection with the issuance of a mine permit which includes the Leased Premises shall be deemed to satisfy Lessor’s bonding requirements with respect to Lessee’s reclamation obligations under this Lease; provided, however, upon notice to Lessee and a public hearing with respect to the basis for its decision, the Lessor may, in its reasonable discretion, determine that the bond filed with UDOGM is insufficient to protect Lessor’s interests. In such an event the Lessor shall enter written findings as to the basis for its calculation of the perceived insufficiency and enter an order establishing the amount of additional bonding required. Lessee shall file any required additional bond with Lessor within thirty (30) days after demand by Lessor. Lessor may increase or decrease the amount of any additional bond from time to time in accordance with the same procedure. Lessee may combine any additional bond required under this paragraph with the original lease bond filed under Paragraph 10.1, Lease Bond Required. ML 51192-OBA-COAL 10.3 Release of Additional Bond. Any additional bond required by Lessor pursuant to 10.2, Reclamation Bonding, may be released by Lessor at any time and shall be released no later than the time of final bond release by UDOGM with respect to the Leased Premises.
Reclamation Bonding. Falkirk holds the North Dakota Public Service Commission (“Commission”) mine permit for Falkirk’s Mine. Under the North Dakota version of the Surface Mining Control and Reclamation Act (N.D. Century Code Title 38 Chapter 14.1 or “ND SMCRA”), the mine permit holder is obligated to conduct mine reclamation and to post a [****]=[CONFIDENTIAL PORTION HAS BEEN OMITTED BECAUSE IT (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED] performance bond to ensure that if the permit holder fails to conduct such reclamation, the Commission can cause it to occur. Notwithstanding ND SMCRA, Falkirk and Rainbow have agreed as a matter of contract that Rainbow is solely responsible to pay for mine reclamation as required under ND SMCRA. As of the date hereof, the Commission estimate of the cost to complete final mine reclamation is $[****], and the Commission requires a performance bond in that amount. In the future, the Commission may require a higher amount of performance bond. Throughout the Term, Rainbow will continually provide a sufficient performance bond as required by the Commission, and its applicable laws and regulations, to ensure for final mine reclamation under the mine permit. Initially, Rainbow and the Commission have agreed that Rainbow shall meet its obligation to provide such performance bond as follows: BNC National Bank and Bank of North Dakota (the “Banks”) shall issue a letter of credit in favor of the Commission equal to the Commission estimate of the cost to complete final mine reclamation (the “Commission LOC”). The Commission will be able to draw in whole or part on the Commission LOC if Falkirk fails to perform final mine reclamation, resulting in permit forfeiture. Rainbow will cause the Banks to deliver the Commission LOC to the Commission, and the Commission shall accept the Commission LOC as the required performance bond, on or before the Effective Date. Falkirk will cooperate with Rainbow in providing certain Falkirk Real Property as security to the Banks. The Banks’ delivery of the Commission LOC to the Commission, and the Commission’s acceptance of the Commission LOC as the required performance bond, is a condition precedent to Falkirk’s obligations under this Agreement, and the Effective Date shall not occur until such delivery and acceptance has occurred. Thereafter, Rainbow will meet its obligation to provide the performance bond to the Commission in such manner as is acceptable to the Commission from time-...
Reclamation Bonding. YCMC and Chevron NPRB Lead are up to date in respect of and in compliance with all of the reclamation bonding requirements related to the Transactions, in all material respects. Other than those security assurances set forth on Schedule 3 hereto, there are no other bonds, guaranties, letters of credit, or other forms of financial assurances supporting the YCMC Properties that Chevron NPRB Lead or any of its respective Affiliates possesses or has delivered to other Persons as security for performance of certain obligations to Government Authorities or other Persons.
Reclamation Bonding. YCMC and CONSOL NPRB Lead are up to date in respect of and in compliance with all of the reclamation bonding requirements related to the Transactions, in all material respects. Other than those security assurances set forth on Schedule 3 hereto, there are no other bonds, guaranties, letters of credit, or other forms of financial assurances supporting the YCMC Properties that CONSOL NPRB Lead or any of its respective Affiliates possesses or has delivered to other Persons as security for performance of certain obligations to Government Authorities or other Persons.
Reclamation Bonding. Such CX Ranch Seller is up to date in respect of and in compliance with all of the reclamation bonding requirements related to the Transactions, in all material respects. Other than those security assurances set forth on Schedule 3 hereto, there are no other bonds, guaranties, letters of credit, or other forms of financial assurances supporting the Transferred Properties that such CX Ranch Seller or any of its respective Affiliates possesses or has delivered to other Persons as security for performance of certain obligations to Government Authorities or other Persons.
