EXHIBIT 10.62
Contract #96-412-026
Hopkins County Coal, LLC
Amendment No. 1
AMENDMENT NO. 1 TO AMENDED AND
RESTATED COAL SUPPLY AGREEMENT
THIS AMENDMENT NO. 1 TO AMENDED
AND RESTATED COAL SUPPLY AGREEMENT (“Amendment No. 1”) is entered into
effective as of January 1, 2000, by and between LOUISVILLE GAS AND
ELECTRIC COMPANY (hereinafter referred to as “Buyer”),
whose address is 220 West Main Street, Louisville, Kentucky 40202,
and HOPKINS COUNTY COAL, LLC, a Delaware limited liability company
and WEBSTER COUNTY COAL, LLC, a Delaware limited liability company
(successor to WEBSTER COUNTY COAL CORPORATION, a Kentucky
corporation), both having an address of 1717 South Boulder Avenue,
Tulsa, Oklahoma 74119-4886, (the foregoing companies hereinafter
referred to as “Seller”). In consideration of
the agreements herein contained, the parties hereto agree as
follows.
1.0 AMENDMENTS
The Amended and Restated Agreement
heretofore entered into by the parties, dated effective April 1,
1998, and identified by the Contract Number set forth above,
(hereinafter referred to as “Agreement”) is hereby
amended as follows:
2.0 TERM
2.1
Section 2.0 Term , is hereby modified to read as
follows:
“The Term of this Agreement
shall continue through December 31, 2001.”
3.0 QUANTITY
3.1
Section 3.0 Quantity,
is deleted and replace with the following:
“During the Term, Seller shall
deliver and Buyer shall purchase and accept delivery of the
following quantities of coal.
|
YEAR
|
|
BASE QUANTITY
(TONS)
|
|
|
|
|
|
|
|
December 1999
|
|
60,000
|
*
|
|
2000
|
|
1,250,000
|
|
|
2001
|
|
1,250,000
|
|
* The additional 60,000 tons in
December 1999 are in addition to the base quantity of 1,500,000
tons for 1999 and are priced as set forth in Section
8.1.
Such coal shall be delivered ratably
throughout the Term in accordance with reasonable delivery
schedules to be mutually agreed by Buyer and
Seller.”
3.2
Section 3.1 Option to Increase
or Decrease Quantity is added and reads as
follows:
“Buyer shall have the right to
increase or decrease the Base Quantity to be delivered hereunder by
up to 31,250 tons per calendar quarter (three months), for example,
if Buyer increases the quantity by 31,250 tons each quarter during
a calendar year, the net increase will be 125,000 tons. Buyer shall
exercise such option by giving Seller such notice stating
Buyer’s exercise of the option and specifying the increase or
decrease in tonnage, no later than thirty days prior to the first
day of the quarter in which the increased or decreased tonnage will
be delivered.”
4.0 SOURCE
4.1
Section 4.1 Source is
hereby deleted and replaced with the following:
“The coal sold hereunder shall
be supplied from any one of the geological seams Western Kentucky
#11, #12, and #9 (surface and underground), of any one of the
Seller’s Hopkins County Mines, and/or from Seller’s
Webster County Coal, LLC Dotiki Mine Complex, (all of the foregoing
sources herein after referred to as the “Coal
Property”).”
5.0 DELIVERY
5.1
Section 5.1 Buyer’s
Option is hereby deleted and replaced with the
following:
“The Delivery Points shall be
designated as follows: For the Hopkins County mines, the coal shall
be delivered F.O.B. railcar at the Hopkins County rail loading
facility near Madisonville, Kentucky on the Paducah and Louisville
Railroad (the “Delivery Point”). For mines in the
Dotiki Mine Complex, the coal shall be de
