Common use of Closure Procedures Clause in Contracts

Closure Procedures. Upon the sale of the last credit in the Bank, such that no credits are available for sale, the Sponsor (or BWSR on behalf of the Sponsor) shall provide a written certification to the Corps stating that all credits are sold and the bank is closed to future sales. The certification shall state the total number of credits of each wetland type that were sold (e.g. sedge meadow, shallow xxxxx, upland buffer).

Closure Procedures. Upon the sale of the last credit in the Bank, such that no credits are available for sale, the Sponsor (or BWSR on behalf of the Sponsor) shall provide a written certification to the Corps stating that all credits are sold and the bank is closed to future sales. The certification Certification shall state the total number of credits of each wetland type that were sold (e.g. sedge meadow, shallow xxxxx, upland buffer).