Emission Allowances. Energy projects may be eligible to receive energy efficiency or renewable energy emission allowances or other allowances or credits based on the energy attributes of the project (an “Allowance or Credit”). If Xxxxxxx is entitled to claim an Allowance or Credit as a result of the Project, Grantee must affirmatively claim such Allowance or Credit or forfeit such Allowance or Credit to Grantor for the benefit of the public as provided in Section 4928.62(C) of the Ohio Revised Code. Grantee is hereby deemed to forfeit any Allowance or Credit related to the Project unless Grantee notifies Grantor in writing of its intention to claim the Allowance or Credit at least 120 days prior to the scheduled deadline for claiming the Allowance or Credit. Grantee may also waive to Grantor for the benefit of the public any Allowance or Credit related to the Project. Grantor hereby exercises its right to claim ownership of any such Allowance or Credit that Grantee affirmatively waives or is deemed to have forfeited under this paragraph.
Emission Allowances. All Emission Allowances, except for allowances which are to be retained by Seller pursuant to Section 2.2(k);
Emission Allowances where applicable, the Parties acknowledge that some Provinces or States in the United States and Canada have created cap-and-trade systems pursuant to which Seller may need to acquire greenhouse gas emission allowances (the “Emission Allowances”) to cover the greenhouse gas emissions attributable to the Products sold hereunder, and the Parties acknowledge that other Provinces or States may, from time to time, create similar systems.
a) At such time as the cost of the Emission Allowances is known to Seller, Seller will invoice to Buyer and Buyer will pay to Seller, in addition to the price of Products sold hereunder, an amount equivalent to the value of Emission Allowances, where the Product sold is subject to such Emission Allowances and as determined by Seller from time to time, necessary to cover the emissions reasonably attributable to the volume of Products sold to Buyer hereunder, unless such value has otherwise been included in the price of the Products.
b) Upon receipt of the first invoice including said value of Emission Allowances, Buyer shall have ten (10) Days to express its disagreement with the value determined by Seller, in which case Buyer shall be entitled to immediately terminate this Agreement by written notice to Seller, subject to the obligation of Buyer to pay the value of Emission Allowances attributable to the sales of Products made before said termination.
c) Notwithstanding the above, Buyer shall comply with all applicable laws, regulations, rules and orders applicable to Emission Allowances, and shall within thirty (30) Days of Seller’s written request, provide evidence of compliance which is satisfactory to ERM, acting reasonably.
Emission Allowances. (a) Prior to, on and after the Closing Date, Buyer and Seller shall take all necessary actions, including executing any required forms or providing appropriate notices to Governmental Authorities, in a timely fashion, to ensure that (i) Buyer will obtain all, or the rights to all, Emission Allowances that are to be transferred to it pursuant to Section 2.1(f) and as set forth on Schedule 2.1(f), including the right to receive such Emission Allowances that are to be allocated or issued by any Governmental Authority in the future and (ii) Seller will retain or obtain all, or the rights to all, Emission Allowances that are defined as Excluded Assets pursuant to Section 2.2(n), including the right to receive such Emission Allowances that are to be allocated or issued by any Governmental Authority in the future.
(b) For purposes of compliance with the NOx Budget Program and SO2 Budget Program during the year in which the Closing Date occurs, the Party owning the Seller's Interests as of the date that an owner of the Seller's Interests is obligated to transfer additional NOx Allowances or SO2 Allowances (which date shall be as set forth in any requests for Emissions Allowances by the authorized representative or the designated representative of the Keystone Station and the Conemaugh Station) shall be responsible for transferring such Emission Allowances to the authorized representative or the designated representative.
Emission Allowances. Subject to Sections 2.1(g) and 6.1(a)(ii), ------------------- Sellers hold, and will transfer to Buyer at Closing, all of their right, title and interest in, free and clear of all Encumbrances (except Permitted Encumbrances), the Emission Allowances set forth in Schedule 2.1(g). There have been no emission increases at Sunbury Station on or prior to the Closing Date for which Buyer will be required to hold or obtain Emission Reduction Credits on or after the Closing Date.
Emission Allowances. Notwithstanding anything to the contrary herein, each Purchaser and Seller shall take all necessary actions, including executing any required forms or providing appropriate notices to Governmental Authorities, in a timely fashion, to ensure that each Purchasers will obtain all, or the rights to all, Emission Allowances that are to be transferred pursuant to Section 2.1(p), Section 2.1(q) and Section 2.1(r) hereof, including the right to receive such Emission Allowances that are to be allocated or issued by a Governmental Authority in the future. Each Purchaser and Seller further acknowledge and agree that such actions may be required before, on or after the Closing Date.
Emission Allowances. Section 3.24 of the Disclosure Letter sets forth a list of all Emission Allowances that will be owned by the Companies as of the Closing; provided, however, that, for the avoidance of doubt, such list includes Emission Allowances that Purchaser will be required to retire based on (i) the operations of the Companies conducted in the ordinary course of business between January 1, 2010 and the date of this Agreement with respect to SO2 and NOx (both annual and seasonal), (ii) the operations of the Companies conducted in the ordinary course of business between January 1, 2009 and the date of this Agreement with respect to RGGI CO2 Allowances, and (iii) the operations of the Companies conducted between the date of this Agreement and the Closing not in violation of Section 5.01(b)(xv)(B), which shall include the use or consumption of the supplies of coal related to the operation of the Generating Plants as contemplated by Section 6.21 (collectively, the “Consumed Pre-Closing Emission Allowances”).
Emission Allowances. Notwithstanding anything to the contrary herein, Purchaser and Sellers shall use commercially reasonable efforts, including executing any required forms and providing appropriate notices to Governmental Authorities, in a timely fashion, to ensure that Purchaser will obtain any legally available rights to those Emission Allowances described in Schedule 2.1.1 attached hereto that are to be transferred to it pursuant to Section 2.1.1; provided, however, in no event shall Sellers have any obligation to expend any funds to assure the transfer of such Emission Allowances. Furthermore, Purchaser covenants that Purchaser shall not sell or transfer any Emission Allowances transferred to Purchaser pursuant to this Agreement until such time as Purchaser has satisfied applicable Governmental Authorities that sufficient Emissions Allowances exist in the Facility account to satisfy all Emissions Allowance obligations of the Facility for the year in which the Closing occurs at the time when due.
Emission Allowances. Buyer and Seller shall take all necessary actions, including executing any required forms or providing appropriate notices to Governmental Authorities, in a timely fashion, to ensure that (i) Buyer will obtain all, or the rights to all, (A) Emission Allowances that are to be transferred to it pursuant to Section 2.1(f) and as set forth on Schedule 2.1(f), including the right to receive such Emission Allowances that are to be allocated or issued by a Governmental Authority in the future, and (B) Excess Emission Allowances that are to be transferred to it pursuant to Section 2.1(g) and as set forth on Schedule 2.1(g) and (ii) Seller will retain or obtain all, or the rights to all, Emission Allowances that are defined as Excluded Assets pursuant to Section 2.2(o), including the right to receive such Emission Allowances that are to be allocated or issued by a Governmental Authority in the future. Buyer and Seller further acknowledge and agree that such actions may be required before, on or after the Closing Date.
Emission Allowances. (a) Each Owner shall purchase or otherwise provide Emission Allowances to the Unit 2 Allowance account as set forth in Sections 6.8 through 6.14 (the “Allowance Contribution”), below, it being recognized that the term “allowance account,” may encompass more than one such account, each for a different pollutant for which Allowances are required by governmental agencies. In the event that a governmental agency allocates any Emission Allowances to Xxxx 0, such new Emission Allowances will be accounted for on an annual basis and consumed as needed for the operation of Unit 2. Any Allowances allocated by a governmental agency for an annual period (or other control period during that year, as applicable) that are not consumed during the year of allocation shall be apportioned among the Owners based on the difference between what was allocated to each Owner and what was consumed by such Owner. Any costs associated with such new Emission Allowances shall be borne by the Owners in proportion to their Ownership Shares, unless otherwise allocated to the Owners by the governmental agency.
(b) The Owners hereby appoint KCPL, in its capacity as Operator to be the Designated Representative for Unit 2, as that term is defined under 40 C.F.R. § 72.2 and other currently and subsequently applicable regulations, which, for the duration of this appointment, and except as otherwise provided in this Agreement, will be responsible for complying with the Emission Allowance programs applicable to Xxxx 0 and have full powers of disposition over the Emission Allowances in the Unit 2 Allowance account; provided, however, that such appointment will in no way affect the responsibility of each Owner to comply with all requirements under applicable law and this Agreement pertaining to that Owner’s participation in the Iatan Unit 2 Facility and the Common Facilities, including, without limitation, the indemnity obligations of said Owner pursuant to Section 11.5 hereunder.
