Carbon Sequestration Sample Clauses

Carbon Sequestration. The mega-fire phenomenon has turned California’s forests into carbon emitters rather than carbon sinks. Well-managed forests provide a significant source of stable carbon storage. The Parties will manage for carbon sequestration by thinning dense stands and undergrowth and promoting growth of large trees, which provide hundreds of years of carbon storage. The Parties will work with experts like the California Air Resources Board to establish forest-specific carbon accounting techniques to incentivize stable carbon storage.
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Carbon Sequestration. The Role of Agroforestry and Sustainable Agriculture UNFCCC – COP6 The Hague
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Carbon Sequestration. Carbon sequestration is “the capture and secure storage of carbon that would otherwise be emitted to or remain in the atmosphere.”90 Carbon sequestration includes ocean sequestration, sequestration by terrestrial ecosystems (soils and vegetation), and injection in geological formations. ▪ Terrestrial biomass quantity, location, and change, including agriculture and forest lands ▪ Carbonaceous gases and aerosols ▪ Marine productivity, such as chlorophyll concentrations Carbon sequestration is considered a promising means to mitigate the emissions of carbon from major industrial processes, including the energy sector. DOE, USDA, and other organization are actively pursuing carbon sequestration as a means to address climate change. Of the three major types of carbon sequestration, sequestration by terrestrial ecosystems has the greatest potential for application of NASA data and models. 90 Carbon Sequestration Research and Development, Office of Science and Office of Fossil Energy, U.S. Department of Energy, December 1999. Currently, the NASA Carbon Management Program Element has promoted several projects and partnerships on carbon management. The energy sector is related since it is one the largest generators of CO2 and other GHGs. Development of guidelines for a - USDA, DOE, EPA voluntary program for sequestration of carbon in biomass and soils under the Energy Policy Act of 1992 (EPACT) NASA-CASA Project CASA Carbon Query and U.S. Forest Service (USFS) Evaluation Support Tools (CASA CQUEST)91 Landsat Ecosystem Disturbance Reflectance and disturbance USFS Adaptive Processing System (LEDAPS) 92 products GEOSS societal benefit areas include the mitigation of emissions that contribute to climate change. However, carbon sequestration is more closely tied to the goals of CCSP, which lists new carbon sequestration technologies as one of its key research needs, and CCTP, which has capturing and sequestering CO2 as one of its five research initiatives. The NASA Carbon Management Program Element has promoted projects related to carbon sequestration in partnership with other government agencies. While it is a key area for the energy sector in terms of response to carbon emission mitigation, carbon management solutions are generalized and not specific to the energy sector. 91 NASA-CASA Project, CASA-CQUEST Viewer, xxxx://xxx.xxx.xxxx.xxx/sge/casa/cquest.html. Accessed August 1, 2005. 92 Landsat Ecosystem Disturbance Adaptive Processing System, xxxx://xxxxxx.xxxxxx.xxx...
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Carbon Sequestration. Determine how the carbon storage capacity of the project site changes after sediment augmentation. • Sediment elevations; thickness, and compaction rate of applied sediment • Sediment movement and turbidity in adjacent channels • Tidal creek status/formation/reformation post sediment application • Vegetation monitoring/Plant community assessment – to include % cover, biomass, cordgrass terminal elevations, cordgrass stem length, cordgrass stem density, physiological plant condition • Abiotic parameter description • Eelgrass monitoring • Infaunal invertebrate community structure • Epifaunal community diversity • General avian surveys – abundance & diversity • Light-footed Xxxxxxx’x rail monitoring • Carbon Sequestration Studies – Coring, Biomass, Methane & Nitrous Oxide Flux • 16” diameter waterline under Main Channel to provide redundant fire emergency service to City of HB Waterline Installation • Dredging - $7,191,092 • Waterline - $840,416 Grant Funding • State Coastal Conservancy - $550,000 for monitoring • USFWS – 2015 Cooperative Recovery Initiative - $350,000 for construction • CDFW – Wetlands Restoration for GHG Reduction - $125,500 for construction • Advertise/Solicit Bids – September 2015 • Award Construction Contract – October 2015 • Begin Construction – December 2015 • Complete Construction – June 2016 • Waterside dredging work: Monday-Saturday, 7 a. m. to 7 p.m.
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Carbon Sequestration. The uptake and storage of carbon. Trees and plants, for example, absorb carbon dioxide, release the oxygen and store the carbon. Fossil fuels were at one time biomass and continue to store the carbon until burned.
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Carbon Sequestration. The term ‘‘carbon sequestration’’ means the capture of carbon dioxide through terrestrial, geological, biological, or other means, which prevents the release of carbon dioxide into the atmosphere.
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Carbon Sequestration. The pyrolysis of organic matter waste to produce biochar, results in the formation of recalcitrant organic carbon which is resistant to microbial decomposition and can persist for hundreds to thousands of years. When biochar is used as a soil amendment, this organic matter waste is effectively sequestered into the soil as carbon (Xxxxxxx et al, 2006). Direct measurements of the recalcitrant portions of these organic carbon inputs were not possible in this field trial as the local soil control lab did not have these capabilities. But studies of biochar composition based on different types of feedstock and production methods suggest that the recalcitrant carbon content for the biochar used in the field trial was high since it was made from wood chips charred at a temperature 575-600°C (Xxxxx et al, 2010; Xxxxx et al, 2009). The amount of total organic carbon added to the soil through the treatments was estimated at 6.0, 2.3 and 8.3 tons/acre for biochar-only, compost-only and mix treatments (respectively). To further assess the effects of biochar and the other soil amendments on carbon sequestration, the amount of total organic carbon in the soil (SOC) was calculated. The results did not show a consistent, significant increase in SOC over time from the treatments when compared with the control. However, the SOC levels suggested an effect in sub-surface soils (i.e. below the 6” depth) from the biochar treatment, and this trend would likely have continued with continued monitoring. In addition to the carbon sequestered in biochar itself and increased levels in the soil, biochar has been shown to have other climate benefits. As discussed previously, biochar can act as a slow-release fertilizer, which can reduce the need for chemical fertilizers and reduce greenhouse gas emissions caused by manufacturing of fertilizers. The effects of biochar on beneficial microbial activity in the soil can also result in additional carbon storage in soils. Some studies have also reported reductions in emissions of certain greenhouse gases (N2O and CO2) from agricultural fields treated with biochar (Xxxxxx and Xxxxxxxxx, 2013). In this field trial, the conversion of forestry waste into biochar likely avoided CO2 and CH4 emissions that would otherwise have been generated by the natural decomposition or burning of the waste. However, further discussion of climate benefits such as these was beyond the scope of this project, but should be considered for future studies focused specif...
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Carbon Sequestration. Recalcitrant organic carbon that forms during the production of biochar by pyrolysis is resistant to decomposition by soil microorganisms, allowing the carbon to remain sequestered from the atmosphere for hundreds to thousands of years. Thus the effects of a biochar soil amendment on carbon sequestration can be determined through measurements of recalcitrant organic carbon in the soils. For this field trial, total organic carbon in the treatments and soil samples was analyzed (Tables 3.3a and 3.6.2a). The local soil testing lab did not have the abilities to quantify various fractions of total organic carbon (including recalcitrant). As such, the analysis and discussion of carbon sequestration for the field trial considers the total organic carbon added to the soil in the treatments and the amount of total organic carbon [i.e. the soil organic carbon (SOC)]. Comparisons of SOC among treatments and the control over time were used to identify potential changes to carbon sequestration due to biochar. The total organic carbon (in tons/acre) applied to the soil in the field trial (i.e., in the biochar, compost and mix treatments) was calculated by multiplying the measured percent organic carbon content (reported in Table 3) of the biochar (59.5%) and compost (23%) by the application rate 10 tons/acre. These amounts were combined to estimate the mix treatment which was 10 tons/acre each of biochar and compost. SOC was measured by the Soil Control Lab from the collected soil samples. Percent SOC is calculated by weight, meaning that small changes in bulk density (e.g., 1-2%) can affect the SOC percentages. The analysis of SOC took into account this effect of bulk density by converting the SOC percentages reported by the lab to tons/acre-6" using the measured bulk densities (g/cm3) for the same samples. Bulk density measurements were only taken in the fall of each year. As such, SOC in tons/acre-6” was calculated for fall 2012, 2013 and 2014. SOC was calculated for 6” soil depths (i.e., in units of tons/acre-6”) because this corresponded to the depth-interval of soil sampling. The following equation was used: SOC (tons/acre-6”) = (% SOC/100) * Bulk Density (g/cm3) * 758 The conversion factor of 758 for a 6” soil layer depth was derived as follows (Xxxxxxx 2011, p. 32): tons/acre-6” = g/cm3 * 1 kg/1000 g * 2.204622622 lbs/kg * tons/2000 lbs * 16.38706 cm3/in3 * 144 in2/ft2 * 48560 ft2/acre * 6” = g/cm3 * 758
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Related to Carbon Sequestration

  • Analogous proceedings there occurs, in relation to any Security Party, in any country or territory in which any of them carries on business or to the jurisdiction of whose courts any part of their assets is subject, any event which, in the reasonable opinion of the Agent, appears in that country or territory to correspond with, or have an effect equivalent or similar to, any of those mentioned in clauses 10.1.6 to 10.1.12 (inclusive) or any Security Party otherwise becomes subject, in any such country or territory, to the operation of any law relating to insolvency, bankruptcy or liquidation; or

  • Seizure all or a material part of the undertaking, assets, rights or revenues of, or shares or other ownership interests in, any Security Party are seized, nationalised, expropriated or compulsorily acquired by or under the authority of any Government Entity; or

  • Analogous Events Anything analogous to or having a substantially similar effect to any of the events specified in Clauses 11.1.5 to 11.1.9 shall occur under the laws of any applicable jurisdiction.

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Seizures Any portion of the Collateral shall be seized or taken by a Governmental Body, or any Borrower or any Guarantor or the title and rights of any Borrower, any Guarantor or any Original Owner which is the owner of any material portion of the Collateral shall have become the subject matter of claim, litigation, suit or other proceeding which might, in the opinion of Agent, upon final determination, result in impairment or loss of the security provided by this Agreement or the Other Documents;

  • Liquidator Upon dissolution of the Company, the Manager shall select one or more Persons to act as Liquidator. In the case of a dissolution of the Company, (i) the Liquidator (if other than the Manager) shall be entitled to receive such compensation for its services as may be separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation; (ii) the Liquidator (if other than the Manager) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation; (iii) upon dissolution, death, incapacity, removal or resignation of the Liquidator, a successor and substitute Liquidator (who shall have and succeed to all rights, powers and duties of the original Liquidator) shall within 30 days thereafter be separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation. The right to approve a successor or substitute Liquidator in the manner provided herein shall be deemed to refer also to any such successor or substitute Liquidator approved in the manner herein provided. Except as expressly provided in this Article VIII, the Liquidator approved in the manner provided herein shall have and may exercise, without further authorization or consent of any of the parties hereto, all of the powers conferred upon the Manager and its officers under the terms of this Agreement (but subject to all of the applicable limitations, contractual and otherwise, upon the exercise of such powers) necessary or appropriate to carry out the duties and functions of the Liquidator hereunder for and during the period of time required to complete the winding up and liquidation of the Company as provided for herein. In the case of a termination of the Company, other than in connection with a dissolution of the Company, the Manager shall act as Liquidator.

  • Expropriation Neither Party shall expropriate or nationalize, either directly or indirectly through measures equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") against investments of investors of the other Party in its territory, unless the following conditions are met: (a) for the public interest (15); (b) under domestic legal procedure; (c) without discrimination; and (d) against compensation.

  • Receivership The employment of a receiver appointed by court order to take possession of substantially all of Tenant’s assets or the Premises, if such receivership remains undissolved for a period of thirty (30) days;

  • No Expropriation No property or asset of the Company (including any Property or Mineral Rights) has been taken or expropriated by any Governmental Entity nor has any notice or proceeding in respect thereof been given or commenced nor, to the knowledge of the Company, is there any intent or proposal to give any such notice or to commence any such proceeding.

  • Insolvency or Liquidation Proceedings The Collateral Trust Agreement will provide that, if in any Insolvency or Liquidation Proceeding and prior to the Discharge of Priority Lien Obligations, the Priority Lien Secured Parties by an Act of Required Secured Parties shall desire to permit the use of “Cash Collateral” (as such term is defined in Section 363(a) of the Bankruptcy Code), or to permit any Issuer or any other Grantor to obtain financing, whether from the Priority Lien Secured Parties or any other Person under Section 364 of the Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”) then each of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien Representative for itself and on behalf of the other Junior Lien Secured Parties represented by it, will raise no objection to such Cash Collateral use or DIP Financing including any proposed orders for such Cash Collateral use and/ or DIP Financing which are acceptable to the Priority Lien Secured Parties) and to the extent the Liens securing the Priority Lien Obligations are subordinated to or pari passu with such DIP Financing, the Junior Collateral Trustee will subordinate its Junior Liens in the Collateral to the Liens securing such DIP Financing (and all Obligations relating thereto) and will not request adequate protection or any other relief in connection therewith (except, as expressly agreed by the Priority Lien Secured Parties or to the extent permitted as described below under this caption “—Insolvency or Liquidation Proceedings”. No Junior Lien Secured Party may provide DIP Financing to either of the Issuers or any other Grantor secured by Liens equal or senior in priority to the Liens securing any Priority Lien Obligations and no such DIP Financing shall “roll-up” or otherwise include or refinance any pre-petition Junior Lien Obligations. Each of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and the Junior Lien Representative on behalf itself and the other Junior Lien Secured Parties will raise no objection to or oppose a motion to sell, liquidate or otherwise dispose of Collateral under Section 363 of the Bankruptcy Code if the requisite Priority Lien Secured Parties have consented to such sale, liquidation or other disposition; provided that, to the extent such sale, liquidation or other disposition is to be free and clear of Liens, the Liens securing the Priority Lien Obligations and the Junior Lien Obligations will attach to the proceeds of the sale, liquidation or other disposition on the same basis of priority as the Liens on the Collateral securing the Priority Lien Obligations rank to the Liens on the Collateral securing the Junior Lien Obligations pursuant to the Collateral Trust Agreement. Each of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and the Junior Lien Representative on behalf of itself and the other Junior Lien Secured Parties will not directly or indirectly oppose or impede entry of any order in connection with such sale, liquidation or other disposition, including orders to retain professionals or set bid procedures in connection with such sale, liquidation or disposition if the requisite Priority Lien Secured Parties have consented to such (i) retention of professionals and bid procedures in connection with such sale, liquidation or disposition of such assets and (ii) the sale, liquidation or disposition of such assets, in which event the Junior Lien Secured Parties will be deemed to have consented to the sale or disposition of Collateral pursuant to Section 363(f) of the Bankruptcy Code and such motion does not impair the rights of the Junior Lien Secured Parties under Section 363(k) of the Bankruptcy Code. The Collateral Trust Agreement will provide that until the Discharge of Priority Lien Obligations has occurred, none of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and the Junior Lien Representative, for itself and on behalf of the other Junior Lien Secured Parties, shall: (i) seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written consent of the Priority Lien Secured Parties or a Priority Lien Representative, through an Act of Required Secured Parties as specified in clause (i) of the definition thereof, unless a motion for adequate protection permitted under this caption “—Insolvency or Liquidation Proceedings” has been denied by a bankruptcy court or (ii) oppose (or support any other Person in opposing) any request by the Priority Lien Secured Parties for relief from such stay. The Collateral Trust Agreement will provide that none of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and the Junior Lien Representative, for itself and on behalf of the other Junior Lien Secured Parties shall contest (or support any other Person contesting): (1) any request by the Priority Lien Representatives or the Priority Lien Secured Parties for adequate protection under any Bankruptcy Law; or (2) any objection by the Priority Lien Representatives or the Priority Lien Secured Parties to any motion, relief, action or proceeding based on the Priority Lien Secured Parties claiming a lack of adequate protection. Notwithstanding the foregoing, in any Insolvency or Liquidation Proceeding: (1) if the Priority Lien Secured Parties (or any subset thereof) are granted adequate protection in the form of additional collateral or superpriority claims in connection with any Cash Collateral use or DIP Financing, then the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) or Junior Lien Representative, on behalf of itself or any of the other Junior Lien Secured Parties represented by it, may seek or request adequate protection in the form of a Lien on such additional collateral or superpriority claim, (A) which Lien will be subordinated to the Liens securing the Priority Lien Obligations and such Cash Collateral use or DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Junior Lien Obligations are so subordinated to the Priority Lien Obligations under the Collateral Trust Agreement and (B) which superpriority claim will be subordinated to all superpriority claims of the Priority Lien Secured Parties on the same basis as the other claims of the Junior Lien Secured Parties are so subordinated to the claims of the Priority Lien Secured Parties under the Collateral Trust Agreement; and (2) each of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representatives and the Junior Lien Secured Parties shall only be permitted to seek adequate protection with respect to their rights in the Collateral in any Insolvency or Liquidation Proceeding in the form of (A) additional collateral; provided that as adequate protection for the Priority Lien Obligations, the Priority Collateral Trustee, on behalf of the Priority Lien Secured Parties, is also granted a senior Lien on such additional collateral; (B) replacement Liens on the Collateral; provided that as adequate protection for the Priority Lien Obligations, the Priority Collateral Trustee, on behalf of the Priority Lien Secured Parties, is also granted senior replacement Liens on the Collateral; and (C) an administrative expense claim; provided that as adequate protection for the Priority Lien Obligations, the Priority Collateral Trustee, on behalf of the Priority Lien Secured Parties, is also granted an administrative expense claim which is senior and prior to the administrative expense claim of the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien Representative on behalf of the Junior Lien Secured Parties represented by it. If any Junior Lien Secured Party receives post-petition interest and/or adequate protection payments in an Insolvency or Liquidation Proceeding (“Junior Lien Adequate Protection Payments”), and the Priority Lien Secured Parties do not receive payment in full in cash of all Priority Lien Obligations upon the effectiveness of the plan of reorganization for, or conclusion of, that Insolvency or Liquidation Proceeding, then, each Junior Lien Secured Party shall pay over to the Priority Lien Secured Party an amount (the “Pay-Over Amount”) equal to the lesser of (i) the Junior Lien Adequate Protection Payments received by such Junior Lien Secured Parties and (ii) the amount of the short-fall (the “Short Fall”) in payment in full of the Priority Lien Obligations; provided that to the extent any portion of the Short Fall represents payments received by the Priority Lien Secured Parties in the form of promissory notes, equity or other property, equal in value to the cash paid in respect of the Pay-Over Amount, the Priority Lien Secured Parties shall, upon receipt of the Pay-Over Amount, transfer those promissory notes, equity or other property, pro rata, equal in value to the cash paid in respect of the Pay-Over Amount to the applicable Junior Lien Secured Parties in exchange for the Pay-Over Amount. Notwithstanding anything in the Collateral Trust Agreement to the contrary, the Priority Lien Secured Parties shall not be deemed to have consented to, and expressly retain their rights to object to the grant of adequate protection in the form of cash payments to the Junior Lien Secured Parties made pursuant to this paragraph. Nothing in the Collateral Trust Agreement, except as expressly provided therein, will prohibit or in any way limit any Priority Lien Representative or any Priority Lien Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representative or any of the other Junior Lien Secured Parties, including the seeking by the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representative or any of the other Junior Lien Secured Parties of adequate protection or the asserting by the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representative or any of the other Junior Lien Secured Parties of any of its rights and remedies under the Junior Lien Documents or otherwise. The Collateral Trust Agreement will provide that if any Priority Lien Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of any Issuer or any other Grantor any amount paid in respect of Priority Lien Obligations (a “Recovery”), then such Priority Lien Secured Party shall be entitled to a reinstatement of Priority Lien Obligations with respect to all such recovered amounts on the date of such Recovery, and from and after the date of such reinstatement the Discharge of Priority Lien Obligations shall be deemed not to have occurred for all purposes hereunder. If the Collateral Trust Agreement is terminated prior to such Recovery, the Collateral Trust Agreement will be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. The Collateral Trust Agreement will provide that the grants of Liens pursuant to the Priority Lien Security Documents and the Junior Lien Security Documents constitute two separate and distinct grants of Liens; and because of, among other things, their differing rights in the Collateral, the Junior Lien Obligations are fundamentally different from the Priority Lien Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. If it is held that the claims of the Priority Lien Secured Parties and the Junior Lien Secured Parties in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then all distributions will be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value of the Collateral is sufficient (for this purpose ignoring all claims held by the Junior Lien Secured Parties), the Priority Lien Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing (or that would be owing if there were such separate classes of senior and junior secured claims) in respect of post-petition interest, including any additional interest payable pursuant to the Priority Lien Documents, arising from or related to a default, which is disallowed as a claim in any Insolvency or Liquidation Proceeding) before any distribution is made in respect of the claims held by the Junior Lien Secured Parties with respect to the Collateral, and the Junior Collateral Trustee (on behalf of the Junior Lien Secured Parties) or each Junior Lien Representative, as applicable, for itself and on behalf of the Junior Lien Secured Parties for whom it acts as representative, will turn over to the Priority Collateral Trustee for application in accordance with the Collateral Trust Agreement, Collateral or proceeds of Collateral otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Junior Lien Secured Parties). The Collateral Trust Agreement will provide that, notwithstanding any other provision to the contrary, each Junior Lien Representative and the Junior Collateral Trustee, for itself and on behalf of each other Junior Lien Secured Party represented by it, agrees that none of such Junior Lien Representative or the Junior Collateral Trustee, the Junior Lien Secured Parties represented by it or any agent or trustee on behalf of any of them shall, during any Insolvency or Liquidation Proceeding or otherwise, support, endorse, propose or submit, whether directly or indirectly, any plan of reorganization that provides for the impairment of repayment of the Priority Lien Obligations (with impairment to be determined under Section 1124 of the Bankruptcy Code) unless (i) the Priority Lien Secured Parties or the Priority Lien Representative, in each case, through an Act of Required Secured Parties as specified in clause (i) of the definition thereof shall have consented to such plan in writing or (ii) such plan of reorganization provides for the Discharge of Priority Lien Obligations (including all post-petition interest, fees and expenses) on the effective date of such plan of reorganization or liquidation, as applicable. Without limiting the foregoing, the Collateral Trust Agreement provides that if, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of Priority Lien Obligations and on account of Junior Lien Obligations, then, to the extent the debt obligations distributed on account of the Priority Lien Obligations and on account of the Junior Lien Obligations are secured by Liens upon the same property, the provisions of the Collateral Trust Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. The Collateral Trust Agreement will be a “subordination agreement” under Section 510(a) of the Bankruptcy Code, which will be effective before, during and after the commencement of an insolvency proceeding. All references in the Collateral Trust Agreement to any Grantor will include such Person as a debtor-in-possession and any receiver or trustee for such Person in an insolvency proceeding.

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