Cutting Contract definition

Cutting Contract means any of the Other Contracts pursuant to which Seller has the right to harvest timber from property owned by another Person, including any Governmental Authority, regardless of whether such Other Contract includes a conveyance of stumpage to Seller.
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Cutting Contract shall have the meaning set forth in Section 2.5.
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Examples of Cutting Contract in a sentence

  • Seller and Buyer have each caused this Cutting Contract to be executed by their duly authorized officers, each as of the date first above written.

  • On [date of closing under Purchase and Sale Agreement], Seller and Buyer entered into a Master Stumpage Agreement calling for the parties to enter into a Cutting Contract during each calendar quarter of the term of the Master Stumpage Agreement, and providing substantially all of the terms of the Cutting Contracts except for the designation of Tracts to be cut under the Cutting Contract.

  • In the event of any express conflict between this Cutting Contract and the terms of the Master Stumpage Agreement, the terms of this Cutting Contract shall control.

  • Owner grants to Buyer the rights to ingress and egress over the Timberlands that Owner possesses for the sole purpose of harvesting timber that is the subject of a Cutting Contract with Owner.

  • Owner shall have the right to suspend all harvesting operations when the harvesting site is abnormally wet and Owner determines that site damage will result from continued operations, but, in the event of any such suspension, Buyer shall be entitled to an extension of the time allotted under the relevant Cutting Contract for its harvesting operations equal to the term of such suspension.

  • On [date of closing under Purchase and Sale Agreement], Seller and Buyer entered into a Master Stumpage Agreement calling for the parties to enter into a Cutting Contract during each calendar quarter of the term of the Master Stumpage Agreement, and providing substantially all of the terms of the Cutting Contract except for the designation of Tracts to be cut under the Cutting Contract.

  • Buyer shall harvest (i.e., cut and remove) within 12 months (or such other period provided under a Cutting Contract) in accordance with each Cutting Contract, all Qualifying Timber designated for cutting by Owner in said Cutting Contract, subject to a Force Majeure event.

  • This Cutting Contract is intended to constitute a disposal of timber with a retained economic interest within the meaning of Section 631(b) of the Internal Revenue Code of 1986, as amended, and its provisions are to be interpreted accordingly.

  • All terms used in this Cutting Contract are as defined in the Master Stumpage Agreement, and all provisions of the Master Stumpage Agreement are provisions of this Cutting Contract.

  • Nothing in this Cutting Contract shall be deemed to establish Buyer as an agent, partner, joint venturer, or independent contractor of Seller, and Buyer shall not hold itself out to any third party as having any such relationship with Seller.