Governmental Imposition definition
Governmental Imposition means taxes or fees imposed by any federal, state or local government or government agency upon the production, severance, preparation or sale of Coal hereunder, including, but not limited to, the Federal Black Lung Excise Tax, severance taxes on Coal produced or sold hereunder, reclamation fees assessed by the US government or the State of Indiana. The term does not include impositions such as generally applicable taxes including federal or state income taxes; employee benefits or payroll taxes such as employer’s Social Security, unemployment or worker’s compensation taxes or payments, or any civil or criminal money fine or penalty imposed as the result of failure to comply with any Law. Buyer shall not be entitled to any adjustment in connection with any benefit derived by Seller for any incentives granted by the U.S. government or the State of Indiana for coal production or investment in coal properties within the State of Indiana.
(a) The Parties shall adjust the then-current Base Price (or the relevant Market Adjusted Base Price, as applicable) by an amount equal to changes in Seller’s costs per ton of coal sold hereunder that are caused directly by increased or decreased Governmental Impositions enacted or imposed after the Initial Price Date, or as applicable, after the date of determination of a Market Adjusted Base Price. Seller shall give prompt notice to Buyer of the amount of any such increased or decreased cost per ton of coal sold hereunder incurred by reason of such a change in Governmental Imposition (including implementation of new Governmental Impositions), along with reasonable documentation of such amounts. The adjustment to the Base Price pursuant to this Section 3.3.2 may be applied retroactively to the date on which such new or changed Government Imposition was first applied to Seller or its operations.
(b) In the event of an increase in cost, such notice from Seller shall also include the increase in the then-current Base Price (or the relevant Market Adjusted Base Price, as applicable) that Seller will require, which increase may not exceed the actual increase in Seller’s costs due to such Governmental Impositions. In the event of a decrease in cost, the then-current Base Price (or the relevant Market Adjusted Base Price, as applicable) will be decreased by an amount equal to the decrease in Seller’s costs caused by Governmental Impositions enacted or changed after the then-current Base Price became effective, or the date of determ...
Governmental Imposition means any assessment, charge, impost or levy, however denominated (but not including fines or other penalties for the failure to comply with nontax legal requirements), including any interest, penalties, or additions that is or may become payable in respect thereof, imposed by any state, local or federal or foreign Governmental Authority that may be imposed on the purchase of coal, the production or sale of Coke, on any asset or transaction of Seller related to the Coke Plant including, but not limited to, a value added tax of any type and an energy tax of any type, (with the exception of a tax measured by net income, the Indiana Gross Receipts Tax, or any withholding tax relating to a Partner’s interest in Seller).
Governmental Imposition means all costs of compliance with all applicable federal, state and local laws and regulations as they are interpreted and enforced with respect to coal produced at the Mine, including, without limitation, all federal, state or local statutes, rules, regulations or interpretations, the rate of any excise, stamp, reclamation, severance, use, sales, license, or other tax assessment, and any charged rates of assessment (other than taxes measured on or by income not levied directly on the production of coal), business and occupations taxes, and license fees or other assessments payable on account of or for the production, mining, removal, preparation, delivery, shipment, sale, consignment or billing of coal or on instruments or documents evidencing the same or on the proceeds thereof, and any law, governmental order, rule, ordinance, regulation, stipulation, decree, or other governmental requirement of any kind, or interpretation thereof, which pertains to coal mining practices, health and safety of miners, surface subsidence, land and water reclamation, coal waste disposal and air and water quality standards. Notwithstanding any other provision of this Article VI, there shall be no price adjustment under this Article VI as a result of any noncompliance as of June 1, 1997 of the Mine with any Governmental Imposition, or any civil or criminal fines or penalties imposed for failure to comply with any Governmental Imposition currently existing or hereafter enacted. If, as and when any change in a Governmental Imposition occurring after June 1, 1997 affects the Contract Price or the costs of supplying coal from the Mine, the Contract Price shall be adjusted in the same amount that the actual cost per ton of producing, mining, removing, preparing, loading, selling, consigning and billing coal pursuant to this Agreement is reasonably increased as a result of Seller's compliance in a reasonably cost effective manner with the Governmental Imposition, including, but not limited to, any investment required to comply with the Governmental Imposition. In any case where a Governmental Imposition results in an investment cost, the adjustment to the Contract Price shall be calculated in accordance with the following formula: IY ------ TX Y = For the year the investment is made, the portion of such year remaining after the date of such investment (expressed in decimal form). For each twelve-month period thereafter, Y = 1.0. I = The dollar cost of the investment. T = The shor...
Examples of Governmental Imposition in a sentence
Seller shall give prompt notice to Buyer of the amount of any such increased or decreased cost per Ton of Coal sold hereunder incurred by reason of a change of Governmental Imposition along with detailed documentation of such amount which shall be supported by Seller’s accounting records and other documents establishing the basis for the change which are subject to Buyer’s audit.
Any adjustment to the Contract Price under this Section 4.3 will be effective as of the date the change in Governmental Imposition is effective.
Notwithstanding any other provision of this Section 4.3, there shall be no change in the Contract Price as a result of any noncompliance with any Government Impositions, or any civil or criminal fines or penalties imposed for failure to comply with any Governmental Imposition currently existing or hereafter enacted.
Manager may defer payment of the contested Governmental Imposition pending such contest so long as such deferment shall not subject the interest of Owner in the Property to forfeiture.
The initial Governmental Imposition cost pass through portion of the Contract Price includes $[xxx] per ton for the Federal Black Lung Fee and $[xxx] per ton for the Federal Reclamation Fee.
More Definitions of Governmental Imposition
Governmental Imposition means changes in or additions to costs or expenses caused by any environmental or other regulation, or any sales tax, property tax, energy use tax, energy carbon tax, surcharge or other governmental or regulatory fees or penalties (including without limitation emissions allowances, renewable portfolio standards, charges, fines or expenses), any ISO, RTO, imbalance market or integrated market fees or costs, or penalties, or any Authority fees or penalties, which are imposed, adopted, implemented or enforced after the execution of this Agreement or which occur as a result of a change after the execution of this Agreement in the interpretation or enforcement by the governmental or regulatory body of an existing governmental imposition, and any changes to expenditures for MEAN’s owned, purchased or leased power supply resources caused by or resulting from any change in law, rule or regulation.
Governmental Imposition means all reasonable direct costs of compliance with all applicable new or revised federal, state and local laws and regulations as they are interpreted or enacted or revised and enforced after November 15, 2001, and during the Term hereof with respect to coal (excluding any non-compliance existing as of November 15, 2001, financing CONTRACT #LGE02014 costs, income tax or property tax related costs, penalties, interest, fines, costs of arbitration, mediation, litigation, or any other type of dispute resolution through all stages of appeal, payment of judgments against Seller or Seller's affiliates) or on instruments or documents evidencing the same or on the proceeds thereof (excluding financing documents), and any law, governmental order, rule, ordinance, regulation, stipulation, decree, or other governmental requirement of any kind, or interpretation thereof, which pertains to coal mining practices, health and safety of miners (excluding wages, benefits and retirement), and air and water quality standards, provided (a) such Governmental Impositions are imposed against the coal mining industry either on a regional, state or national basis; (b) Seller does not seek to allocate such costs to Buyer until the cumulative effect is a minimum of ten cents per ton); and (c) Seller notifies Buyer in writing of the obligation or potential obligation to comply with such laws within fifteen (15) days of the ▇▇▇▇ ▇▇▇▇▇▇ becomes aware of such laws, setting forth the specific law or regulation and the anticipated or actual financial impact on Buyer's purchase of coal hereunder, and the anticipated or actual effective date. Additionally, the applicable Base Price hereunder shall be increased only if the price adjustment is allocated evenly to all coal produced by Seller or to all coal that is produced from the Coal Property, so that Buyer is allocated only its proportionate share of such Governmental Imposition, and the Base Price shall be decreased for any savings resulting from changes in such Governmental Imposition. If the Base Price is increased due to Governmental Impositions more than $1.00 per ton on a cumulative basis during the Term, Buyer may terminate this Agreement upon not less than thirty (30) days' written notice to Seller. Alternatively, Seller may agree, by forwarding written notice to Buyer within ten (10) days after receiving Buyer's notice of termination, to limit the cumulative Base Price increase to $1.00 per ton above the Base Price, and this Agre...
Governmental Imposition means any taxes, fees, assessments or other obligations which are imposed by any government or governmental agency pursuant to any new law, regulation or ruling, or pursuant to changes in the interpretation or application of existing laws, regulations or rulings, which cause an increase or decrease in Seller's cost for the production, mining, or preparation of coal to be supplied to Buyer hereunder. If any Governmental Imposition is adopted or becomes effective on or after January 1, 2002, Seller shall notify Buyer and shall ARCH COAL SALES CO., INC. KU Contract # KUF02848 PRB demonstrate to Buyer that such Governmental Imposition has increased or decreased Seller's cost of owning or operating the coal mines designated as sources hereunder as it relates to the production, mining or preparation of coal from such mines for sale to Buyer under this Agreement. The purchase price for coal to be paid by Buyer hereunder shall then be adjusted by adding or subtracting the per ton cost of the Governmental Imposition to determine an adjusted purchase price. If the Governmental Imposition will continue for the life of this Agreement, then the purchase price for subsequent Contract Years, if any, shall also be adjusted by the per ton amount of the Governmental Imposition.
Governmental Imposition means any taxes, fees, assessments or other obligations which are imposed by any government or governmental agency pursuant to any new law, regulation or ruling, or pursuant to changes in the interpretation or application of existing ARCH COAL SALES CO., INC. KU Contract # KUF02849 laws, regulations or rulings, which cause an increase or decrease in Seller's cost for the production, mining, or preparation of coal to be supplied to Buyer hereunder. If any Governmental Imposition is adopted or becomes effective on or after January 1, 2002, Seller shall notify Buyer and shall demonstrate to Buyer that such Governmental Imposition has increased or decreased Seller's cost of owning or operating the coal mines designated as sources hereunder as it relates to the production, mining or preparation of coal from such mines for sale to Buyer under this Agreement. The purchase price for coal to be paid by Buyer hereunder shall then be adjusted by adding or subtracting the per ton cost of the Governmental Imposition to determine an adjusted purchase price. If the Governmental Imposition will continue for the life of this Agreement, then the purchase price for subsequent Contract Years, if any, shall also be adjusted by the per ton amount of the Governmental Imposition.
Governmental Imposition means any assessment, charge, impost or levy, however denominated (but not including fines or other penalties for the failure to comply with nontax legal requirements), including any additions that is or may become payable in respect thereof, imposed by any state, local or federal or foreign Governmental Authority that may be imposed on the purchase of coal, the production or sale of Coke, on any asset or transaction of Seller related to the Coke Plant including, but not limited to, a value added tax of any type, an energy tax of any type, (with the exception of a tax measured by net income, the Indiana Gross Receipts Tax, or any withholding tax relating to a Partner’s interest in Seller), a tax of any type on greenhouse gas emissions, or a greenhouse gas emissions pricing or trading system of any type. Governmental Impositions shall not include any assessment, charge, impost, or levy, however denominated, that is solely a result of actions or inaction by Seller (i) prior to the Execution Date or (ii) any failure to comply with Current Laws during the Term.
Governmental Imposition meanss any assessment, charge, impost or levy, however denominated (but not including fines or other penalties for the failure to comply with nontax legal requirements), including any additions that is or may become payable in respect thereof, imposed by any state, local or federal or foreign Governmental Authority that may be imposed on the purchase of coal, the production or sale of Coke, on any asset or transaction of Seller related to the Coke Plant including any value added tax of any type, an energy tax of any type, (with the exception of a tax measured by net income, the Ohio Gross Receipts Tax, or any withholding tax relating to an interest in Seller), a tax of any type on greenhouse gas emissions, or a greenhouse gas emissions pricing or trading system of any type. Governmental Impositions shall not include any assessment, charge, impost, or levy, however denominated, that is solely a result of actions or inaction by Seller (i) prior to the Execution Date or (ii) any failure to comply with Current Laws during the Term. “Guaranteed Coke Yield Percentage” has the meaning set forth in Section 3.4(c). “Guaranteed Quality Standards” are the guaranteed quality parameters for Coke and for Third party Supplied Coke set forth in Schedule 5.2. “HHO1 Agreement” has the meaning set forth in the Recitals of this Agreement. “HHO2 Agreement” has the meaning set forth in the Recitals of this Agreement. “Incidental Damages” are incidental damages allowed under Ohio Revised Code Section 1302.84, or as allowed pursuant to any amendment or recodification thereof. Such damages specifically include, without limitation, commercially reasonable storage and rescreening costs, and degradation and handling losses, incurred by Seller in connection with stockpiling of Coke or Third Party Supplied Coke. “Initial Term” has the meaning set forth in Section 2.1. “Interest Rate” means an interest rate equal to [***] percent [***] above the rate announced by JPMorgan & Co as its prime rate at the date of accrual of the late payment.
Governmental Imposition means any tax, assessment, fee or other charge imposed on the production, sale or purchase of CCP by any governmental body.