Common use of CO2 Credits Clause in Contracts

CO2 Credits. (a) Gatherer shall convey to Shipper at no cost to Gatherer, any present or future right, title, credit, offset, unit, claim, allowance, acknowledgement, allocated pollution right, benefit, value, or interest in or related, in whole or in part, to the processing, transporting and Treatment of Shipper’s Gas or other rights that may reduce the cost to Shipper of any CO2 Tax (“CO2 Credits”) generated, earned or otherwise acquired by the Magnolia Gathering System facilities. (b) Shipper may, at its sole option, in lieu of paying any such CO2 Tax, satisfy or avoid such CO2 Tax by the use of CO2 Credits which Shipper controls. If Gatherer has any CO2 Credits or offsets and uses them for customers or contract obligations of a substantially similar nature to the operations it is performing for Shipper, it will use such CO2 Credits or offsets on a pro rata basis among all such similar operations in meeting its obligations under this Agreement.

CO2 Credits. (a) Gatherer shall convey to Shipper at no cost to Gatherer, any present or future right, title, credit, offset, unit, claim, allowance, acknowledgement, allocated pollution right, benefit, value, or interest in or related, in whole or in part, to the processing, transporting and Treatment of Shipper’s Gas or other rights that may reduce the cost to Shipper of any CO2 Tax (“CO2 Credits”) generated, earned or otherwise acquired by the Magnolia Olympia Gathering System facilities. (b) Shipper may, at its sole option, in lieu of paying any such CO2 Tax, satisfy or avoid such CO2 Tax by the use of CO2 Credits which Shipper controls. controls If Gatherer has any CO2 Credits or offsets and uses them for customers or contract obligations of a substantially similar nature to the operations it is performing for Shipper, it will use such CO2 Credits or offsets on a pro rata basis among all such similar operations in meeting its obligations under this Agreement.