Annual Payment. 9.1 The Annual Payment shall replace all compensation for rents, rights of way, or otherwise, set forth in the § 323 Grants (as to the § 323 Grant Land), the 1960 Lease and the 1966 Lease, as applicable. All sections of the aforementioned documents imposing a payment obligation on APS and the Lessees are hereby deleted.
Appears in 6 contracts
Samples: Settlement and Closing Agreement (El Paso Electric Co /Tx/), Settlement and Closing Agreement (El Paso Electric Co /Tx/), Settlement and Closing Agreement (PNM Resources Inc)