Effect of Transfer of Environmental Attributes Sample Clauses
The 'Effect of Transfer of Environmental Attributes' clause defines the legal and practical consequences when environmental attributes, such as renewable energy certificates or carbon credits, are transferred from one party to another. This clause typically clarifies that once the transfer occurs, the recipient gains the exclusive right to claim the environmental benefits associated with those attributes, while the transferor relinquishes any such rights. By specifying these effects, the clause ensures there is no double-counting or misrepresentation of environmental claims, thereby providing clarity and preventing disputes over ownership and use of environmental benefits.
Effect of Transfer of Environmental Attributes. By transferring a Product in a Transaction, Seller transfers any and all, and the exclusive, right to use that Product in any Applicable Program, whether or not the Product Order specifies that the Product is eligible for a particular Applicable Program, and whether or not the particular Product or any Environmental Attribute therein constitutes property, as well as any and all Product Reporting Rights. Transfer of an Environmental Attribute does not transfer eligibility for production tax credits or other direct third-party subsidies for generation of electricity by any specified Renewable Energy Facility. Delivery of a Product grants the Buyer the right, exclusive to the full extent applicable, to verify, certify, and otherwise take advantage of the rights, claims and ownership in the Product.
Effect of Transfer of Environmental Attributes. By Transferring a REC to Party B, Party A Transfers any and all, and the exclusive, right to use that REC in any Applicable Program. Transfer of the REC grants Party B the right, exclusive to the full extent applicable, to verify, certify, and otherwise take advantage of the rights, claims and ownership in the REC. None of Party A’s property interest in the REC will pass to Party B until the Transfer is complete. Upon such completion, all rights, title and interest in and to the REC, to the full extent the same is property, will transfer to Party B.