Average Log Cost definition
Average Log Cost means the average price paid by Seller for pine logs and hardwood logs purchased from third parties and delivered to each respective Chip Mill during each calendar month. Buyer acknowledges that Seller shall use logs from its own lands and from long-term contracts held by Seller to supply the ▇▇▇▇ ▇▇▇▇▇ and that all such logs shall be valued at Average Log Cost.