Annual Mining Plan Clause Samples
Annual Mining Plan. On or before October 1 of each calendar year during the term of this Agreement, SABINE shall provide to SWEPCO in writing a mining plan covering the operation of the Mine for the next calendar year ("Annual Mining Plan"). Such Annual Mining Plan shall include, but not be limited to, the following items for activities during the following calendar year:
(i) an estimated capital budget containing estimates of all capital expenditures and commitments;
(ii) an estimate of all operating costs and expenses in such detail as SWEPCO may reasonably request; and
(iii) an estimated monthly cash flow statement containing estimates of the cash requirements for the capital and operating budgets prepared pursuant to this subsection. The Annual Mining Plan shall also include the details of an incentive compensation plan for SABINE’s employees (except for SABINE’s employees who are participants in a plan of an Affiliate of SABINE).
Annual Mining Plan. (a) On or before July 1 of each Year during the Term, including the Development Period, the Production Period and the Post-Production Period, Seller shall provide to Buyer in writing (or in electronic format) a detailed mining plan covering the operation of the Mine for the next Year (the ”Annual Mining Plan”) that conforms substantially to the Life-of-Mine Plan. If Buyer and Seller agree that current circumstances require that the Annual Mining Plan differ in any material respect from the Life-of-Mine Plan, Seller shall review and revise, if necessary, the Life-of-Mine Plan based on the then-current circumstances including the designation of annual deliveries provided by Buyer in the notice given pursuant to Section 2.6. Seller shall provide documentation of such revised Life-of-Mine Plan consistent with the requirements of Section 5.2.1.
(b) Such Annual Mining Plan shall include, but not be limited to, the following items for activities during the following Year:
(i) maps showing planned mine progression, location of infrastructure, and capital project locations;
(ii) mining operations schedules showing acres disturbed, overburden removed, lignite recovered by seam, anticipated lignite quality by seam, equipment working schedules, and labor requirements;
(iii) a reclamation plan showing areas to be regraded, planted or otherwise subject to reclamation activities and a permitting and bonding schedule;
(iv) an estimated capital budget containing detailed, itemized estimates of all capital expenditures, commitments, and loan/lease requirements, including indicative terms for any proposed acquisition of Capital Assets by Seller;
(v) an estimate of all operating costs and expenses in such detail as required to estimate the Cost of Production under Section 7.2(a), along with estimated employee headcounts and such other information as Buyer may reasonably request;
(vi) an estimated Monthly cash flow statement containing estimates of the cash requirements for the capital and operating budgets prepared pursuant to this Section 5.2.2;
(vii) a projection of the next four Years of operations in such detail as directed by Buyer, which shall include assumptions as to lignite stockpile size(s) and location(s), if any; and
(viii) such other information as directed by Buyer.