Common use of Avoidable Reversals Clause in Contracts

Avoidable Reversals. If the Reserve determines that a Reversal has occurred due to Forest Owner's negligence, gross negligence or willful misconduct, including without limitation, over-harvesting, development, or harm to the Property ("Avoidable Reversal"), (1) The Reserve may deliver written notice to Forest Owner of the Avoidable Reversal ("Avoidable Reversal Notice"); and (2) Forest Owner shall: (i) within thirty (30) days of receiving the Avoidable Reversal Notice, provide a written description and explanation of the Reversal to the Reserve; (ii) within three (3) months of receiving the Avoidable Reversal Notice, provide the Reserve with an accounting of the Carbon Stocks for the year in which the Avoidable Reversal occurred; and (iii) within four (4) months of receiving the Avoidable Reversal Notice, Retire a quantity of Eligible CRTs equal to the difference between the Net Carbon Reduction for the year in which the Avoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Avoidable Reversal.

Avoidable Reversals. If the Reserve determines that there has been a Reversal has occurred that is due to the Forest Owner's ’s negligence, gross negligence or willful misconductintent, including without limitation, over-harvesting, development, or and harm to the Property due to the Forest Owner’s negligence, gross negligence or willful intent ("Avoidable Reversal"), (1) The Reserve may shall deliver written notice to Forest Owner of the Avoidable Reversal ("Avoidable Reversal Notice"); and (2) Forest Owner shall: (i) within thirty (30) days of receiving the Avoidable Reversal Notice, provide a written description and explanation of the Reversal to the Reserve; (ii) within three (3) months of receiving the Avoidable Reversal Notice, provide the Reserve with an accounting of the Carbon Stocks for the year in which the Avoidable Reversal occurred; and (iii) within four (4) months of receiving the Avoidable Reversal Notice, Retire a quantity of Eligible CRTs equal to the difference between the Net Carbon Reduction for the year in which the Avoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Avoidable Reversal.

Avoidable Reversals. If the Reserve determines that there has been a Reversal has that ishas occurred due to the Forest Owner’'s negligence, gross negligence or willful misconductintentmisconduct, including without limitation, over-harvesting, development, or andor harm to the Property due to the Forest Owner’s negligence, gross negligence or willful intent ("Avoidable Reversal"), (1) The Reserve may shallmay deliver written notice to Forest Owner of the Avoidable Reversal ("Avoidable Reversal Notice"); and (2) Forest Owner shall: (i) within thirty (30) days of receiving the Avoidable Reversal Notice, provide a written description and explanation of the Reversal to the Reserve; (ii) within three (3) months of receiving the Avoidable Reversal Notice, provide the Reserve with an accounting of the Carbon Stocks for the year in which the Avoidable Reversal occurred; and (iii) within four (4) months of receiving the Avoidable Reversal Notice, Retire a quantity of Eligible CRTs equal to the difference between the Net Carbon Reduction for the year in which the Avoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Avoidable Reversal.and

Avoidable Reversals. If the Reserve determines that there has been a Reversal has occurred that is due to the Forest Owner's ’s negligence, gross gross-negligence or willful misconductintent, including without limitation, over-harvesting, development, or and harm to the Property due to the Forest Owner’s negligence, gross-negligence or willful intent ("“Avoidable Reversal"”), (1) The Reserve may shall deliver written notice to the Forest Owner of the Avoidable Reversal ("“Avoidable Reversal Notice"”); and (2) The Forest Owner shall: (i) within thirty (30) days of receiving the Avoidable Reversal Notice, provide a written description and explanation of the Reversal to the Reserve; (ii) within three (3) months of receiving the Avoidable Reversal Notice, provide the Reserve with an accounting of the Carbon Stocks for the year in which the Avoidable Reversal occurred; and (iii) within four (4) months of receiving the Avoidable Reversal Notice, Retire a quantity of Eligible CRTs equal to the difference between the Net Carbon Reduction for the year in which the Avoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Avoidable Reversal.