Carbon Credits. The Company and BPDB acknowledge that registration of the Project for Carbon Credits marketing and distribution of benefits of Carbon Credits generated by the Facility shall be in accordance with [the GOB’s relevant policy for development of renewable energy for power generation, as amended or replaced from time to time, which shall govern the matters related to carbon credits for the Project]. Such registration shall be carried out expeditiously and the Company shall pursue the sale of the Carbon Credits diligently. For avoidance of doubt:
a) the amounts to be realized from the sale of Carbon Credits have not been included in the Tariff Rate;
b) the reasonable and verifiable expenses incurred by the Company to register the Project for Carbon Credits and to administer the Certified Emission Reduction management mechanism have not been included in the Tariff Rate;
c) the net revenue from the sale of Carbon Credits for each Contract Year shall be calculated as (i) the amount under Clause (a) above less (ii) the amount under Clause (b) for the relevant Contract Year or for a prior period if not already taken account of in such calculation for any previous Contract Year (along with interest accrued at the Bank Rate from the time of incurrence of such amount in the prior period); provided, that the amount under Clause (ii) shall not in any Contract Year exceed the amount under Clause (i); and
d) the net revenue calculated as per Clause (c) shall be shared equally between the Company and BPDB. The Company shall keep BPDB informed not less than quarterly on the progress of selling the Carbon Credits from the Project and its efforts in relation thereto, and the Company shall inform BPDB immediately upon the occurrence of such sale and the amount received and/or expected to be received from such sale.
Carbon Credits. The Parties acknowledge that registration of the Project for Carbon Credits marketing and distribution of benefits of Carbon Credits generated by the Complex shall be in accordance with the Policy for Development of Renewable Energy for Power Generation 2006, as amended from time to time, that shall govern the matters afore-said. For the avoidance of doubt, the amounts realized from the sale of Carbon Credits shall not be set-off or netted against the Energy Payments.
Carbon Credits. 9.1 Cambridge shall make all efforts to qualify for the certification of Carbon Credits as they are anticipated and ultimately earned from any EOR and/or sequestration activity Cambridge may undertake. CMT will assist Cambridge in its efforts. The Company shall cooperate with Cambridge as Cambridge seeks recognition of CO2 which is, or has been, sequestered or otherwise used for EOR, as “banked units” in anticipation of future qualification as certified credits.
Carbon Credits. The Property Owner hereby agrees that any carbon credits attributable to the Improvements shall be owned by PACE Funding Group LLC or its assignee.
Carbon Credits. 11.5.1 The Parties acknowledge that the Complex has the potential to produce substantial Carbon Credits (e.
Carbon Credits shall retain title to any and all carbon credits associated with the Biodiesel sold pursuant to this Agreement
Carbon Credits. The Customer will have the ability to purchase carbon credits from a third party, Lune Climate Ltd (“Lune”), via the Platform. Any such purchases will be subject to Lune’s terms and conditions. Where the Customer wishes to purchase a carbon credit, it will notify Beacon via the Platform and Beacon will purchase the carbon credit on its behalf. Beacon will invoice the Customer on a monthly basis for any carbon credits purchased on its behalf, and the Customer will pay such invoices in accordance with clause 8. Beacon gives no warranty as to the suitability of any carbon credits offered by Lune or the accuracy of the information accompanying them.
Carbon Credits. 7.1 The Parties recognize that CDM benefits are necessary for the viability of the Agricultural DSM Pilot Project.
7.2 The AgIA shall have the total responsibility and shall bear all costs relating to all activities for registration and issuance of Certified Emission Reductions (or Verified Emission Reductions as applicable) from the Agricultural DSM Pilot Project. These activities shall include preparation of Project Design Document, conducting local stakeholder consultation, obtaining host government approval, validation, registration, monitoring and verification, issuance, appointment of consultants and validators/verifiers, legal counsels, etc.
7.3 The revenues derived from the carbon credits will be shared between PSPCL and the AgIA as mutually agreed, after adjusting the costs incurred pursuant to Clause 7.2.
7.4 Any further issues regarding the realization of benefits from carbon credits shall be mutually negogiated between both PSPCL & AgIA
Carbon Credits. (a) To the extent Investor realizes certified emission reduction credits or other carbon or carbon-equivalent emission reduction credits, or any corresponding monetary value or cost savings that results from greenhouse gas emission reductions whether created by Investor or a third party acting under the direction of Investor, (the “Credits”) associated with the Investor Activities, such Credits received by Investor, less any associated costs which would be considered as an expense, must be declared as taxable income and are taxable in accordance with this Agreement.
(b) Without prejudice to the foregoing paragraph, Investor shall be entitled to all rights, title and interest in Carbon Rights free and clear of all Encumbrances and may assign, transfer or otherwise deal with any such right, title or interest on an arm's length basis for the benefit of Investor's business, without the need to obtain the consent of Government or any person claiming through or under Government. To the extent that it may or at any future time be entitled to Carbon Rights, Government unconditionally and irrevocably: (i) waives, in favor of Investor, any right or claim to such Carbon Rights; (ii) agrees that it will not create, in favor of any third party, any Encumbrances over such Carbon Rights; and (iii) agrees that it will not bring any claim, action, suit, demand, cause of action (whether based upon principles of contract, negligence or other tort, breach of any statutory duty, principles of indemnity or otherwise) against Investor in relation to such Carbon Rights.
(c) For tax purposes, Credits shall be valued at the fair market value meaning the value which it is estimated would be paid in an arm's length transaction by an unrelated willing and knowledgeable buyer to an unrelated willing and knowledgeable seller.
(d) All rights, title and interest in Carbon Rights to which Investor is (or shall become) entitled pursuant to paragraph (b) above, shall be deemed to have been assigned automatically to Investor on the Effective Date (whether created on or before the Effective Date). Any and all Carbon Rights created, issued or generated after the Effective Date shall transfer (or otherwise be deemed to have been assigned) automatically to Investor on their creation, issuance or generation (as the case may be). If any Law or contract prohibits the automatic assignment or transfer of Carbon Rights to Investor in accordance with this Section, Government shall take all necessary ste...
Carbon Credits. Any carbon credits, renewable-energy credits, solar-renewable-energy credits, offsets, refrigerant gasses, or other tradable environmental certificate or permit attributable to the Improvements will be owned by the County except as follows: if installation of the Improvements qualifies for a monetary incentive or rebate program that requires transfer of carbon credits to the provider of the monetary incentive or rebate, then the County shall provide for the transfer of the appropriate carbon credits in conjunction with the provision of the monetary incentive or rebate to the Owner.
