Credit Transfer Reporting Sample Clauses
The Credit Transfer Reporting clause requires parties to provide timely and accurate reports regarding the transfer of credits, such as financial credits, carbon credits, or similar instruments, between entities. Typically, this involves specifying the format, frequency, and content of the reports, and may require parties to notify each other or a regulatory body whenever a credit transfer occurs. The core function of this clause is to ensure transparency and accountability in credit transactions, thereby reducing the risk of disputes and facilitating regulatory compliance.
Credit Transfer Reporting. Upon the Transfer of each and every Credit, the Program Sponsor shall enter the Credit Transfer into RIBITS and submit to each member of the IRT:
1. A copy of the certification in the form provided at Exhibit G that identifies the permit number, a statement indicating the number and resource type of Credits that have been secured from the Program Sponsor, and that legal responsibility has transferred from the permittee to Program Sponsor; and
2. An updated Credit Transfer Ledger, in hard copy and in editable electronic format in the form provided at Exhibit J.
Credit Transfer Reporting. Upon the Transfer of each and every Credit the Bank Sponsor shall submit to the USFWS:
1. A copy of the fully executed Credit Purchase Agreement in the form provided at
2. An updated Credit Transfer Ledger, in hard copy and in editable electronic format in the form provided at Exhibit E-3. Section X: Responsibilities of the Bank Sponsor and Property Owner
1. Without limiting any of its other obligations, including without limitation, under the Conservation Easement, Bank Sponsor and Property Owner each hereby agrees and covenants that:
a. Bank Sponsor and Property Owner shall, prior to the execution of the Conservation Easement at Exhibit D-4 hereof, provide the USFWS with satisfactory evidence that the entity proposed to hold the Conservation Easement (Grantee) is authorized to do so pursuant to Texas Natural Resource Code § 183, and has agreed to hold said Conservation Easement.
b. Bank Sponsor shall be responsible for all activities and costs associated with the establishment and operation of the Bank, including but not limited to construction, planting, Remedial Action, documentation, maintenance, management, monitoring, and reporting, until the Endowment Principal has been fully funded for one year and all Performance Standards have been met.
c. Bank Sponsor agrees to assume responsibility for compensatory mitigation requirements of USFWS biological opinions and permits for which it Transfers Credits. Once a permittee has secured the appropriate number and type of Credits from the Bank Sponsor, Bank Sponsor will provide USFWS with documentation that confirms that the Bank Sponsor has accepted the responsibility for providing the required compensatory mitigation. Notwithstanding the Bank Sponsor’s assumption of responsibility for compensatory mitigation requirements, Federal action agencies with biological opinions and non-federal Section 10 permit holders that use conservation bank credits are still responsible for ensuring that the incidental take authorized in those biological opinions and Section 10 permits is not exceeded and that all actions required to mitigate and minimize take are accomplished.
d. It shall not discharge or release to or from the Bank Property, or permit others to discharge or release to or from the Bank Property, any material, waste or substance designated as hazardous or toxic or as a pollutant or contaminant under any Federal, state, or local environmental law or regulation (each a “Hazardous Substance”).
e. Property Owner s...
Credit Transfer Reporting. Upon the Transfer of each credit, the Sponsor will provide the IRT with the applicable credit Transfer agreement (see Exhibit B) and will enter the applicable credit Transfer information into RIBITS.