Conservation Credits. 3.1. Upon establishment of the Conservation Bank in accordance with Section 2.0 of this Agreement, the Owner may sell and convey Conservation Credits to any Project Proponent that furnishes a Credit Sales Approval issued by the Service authorizing use of Conservation Credits from the Conservation Bank as compensation for Activities within the Service Area on a project- by-project basis consistent with this Agreement. The Owner shall have the exclusive right to determine the price for any and all Conservation Credits.
Conservation Credits. Pursuant to section 4.5.3 of the Tribal HCP and in accordance with Agency policies, the Tribe or Third Party Participants may enter into Conservation Banking Agreements with the Agency whereby land is committed to conservation and the land is assigned conservation credits that can be sold to offset mitigation requirements. Each acre of land committed to conservation will be assigned one conservation credit that can in turn be used to offset impacts from a Covered Activity. The number of conservation credits needed to offset one acre of impacts in each category described in section 14.5.1 is set forth below. Category Ratio of conservation credits to acres of impacts Mountains and Canyons Conservation Area 5.67: 1 Valley Floor Conservation Area 0.25: 1 Xxxxx’x Xxxx Beetle habitat 5.67: 1 Riparian habitat 9: 1
Conservation Credits. The SRCCB is entitled to sell the number of Credits purchased by Purchaser and certifies that such Credits are hereby transferred to the Purchaser subject to the terms of this Agreement.
