Common use of Coal Act Clause in Contracts

Coal Act. Either Sellers shall have obtained a release, in form and substance reasonably satisfactory to Buyer in its sole discretion, of all liabilities and obligations arising under the Coal Act (including, without limitation, liability as a successor or as a successor-in-interest) for (A) any Person any equity of which is purchased and sold pursuant to this Agreement and (B) any Person that acquires any Acquired Assets pursuant to this Agreement and its present and future Affiliates and successors-in-interest (solely with respect to liabilities and obligations under the Coal Act arising out of or in connection with the Acquired Assets or any business conducted therewith), or every Seller that has any liability or obligation (including, without liability, control group liability) under the Coal Act shall have commenced, at the expense of Buyer, a case under chapter 11 of the Bankruptcy Code and at the Closing all of the Acquired Assets of each such Seller shall be conveyed pursuant to sections 105, 363 and 365 of the Bankruptcy Code, as applicable, on the terms set forth in the Bankruptcy Sale Order.

Coal Act. Either (i) Sellers shall have obtained a release, in form and substance reasonably satisfactory to Buyer in its sole discretion, of all liabilities and obligations arising under the Coal Act (including, without limitation, liability as a successor or as a successor-in-successor- in- interest) for (A) any Person any equity of which is purchased and sold pursuant to this Agreement and (B) any Person that acquires any Acquired Assets pursuant to this Agreement and its present and future Affiliates and successors-in-successors- in- interest (solely with respect to liabilities and obligations under the Coal Act arising out of or in connection with the Acquired Assets or any business conducted therewith), or (ii) every Seller that has any liability or obligation (including, without liability, control group liability) under the Coal Act shall have commenced, at the expense of Buyer, a case under chapter 11 of the Bankruptcy Code and at the Closing all of the Acquired Assets of each such Seller shall be conveyed pursuant to sections 105, 363 and 365 of the Bankruptcy Code, as applicable, on the terms set forth in the Bankruptcy Sale Order.