REGULAR AFES Sample Clauses

REGULAR AFES. During the term of this Agreement, TIML shall prepare and provide to CAP, or its designee, DRC, a detailed AFE for each capital project, improvement or enhancement, and operation with respect to the Calcium Carbonate for which the total estimated cost shall exceed $15,000.00. Each AFE shall set forth the proposed project, improvement or enhancement, or operation, its estimated cost and the rationale for the proposed project, improvement or enhancement, or operation. CAP acknowledges that an AFE is only an estimate of the costs reasonably anticipated to be incurred in the performance of the proposed project, improvement or enhancement, or operation and is not a guaranteed or "turnkey price." Subject to the provisions of Paragraph 3.4.2 below, upon the approval and execution of an AFE by CAP, either as originally proposed or as amended by the parties hereto, CAP shall have unequivocally committed to fund its thirty-five percent (35%) of the proposed project, improvement or enhancement, or operation.