EMISSIONS ALLOWANCE ADJUSTMENT Clause Samples
EMISSIONS ALLOWANCE ADJUSTMENT. 24 4.06 EXCESS SO2 ALLOWANCE DUE SELLER....................................................................... 256 4.07 SO2 ALLOWANCE DUE PURCHASER........................................................................... 267 5.01 BILLING AND PAYMENT................................................................................... 27 5.02 THIRD PARTY ANNUAL AUDIT.............................................................................. 29 6.01 SHIPMENT.............................................................................................. 30
EMISSIONS ALLOWANCE ADJUSTMENT. The Base Prices specified in Section 4.01 above are based on the following assumed prices for emission allowances during the Initial Term hereof: Assumed SO[2] Calendar Year Allowance Price(P[C]) ------------- ---------------- 2000 {***} 2001 {***} 2002 {***} 2003 {***} Beginning on January 1, 2000 and continuing during the remainder of the Initial Term, PURCHASER shall determine the actual price of sulfur dioxide emission allowances during the immediately preceding month (P[A]), which price shall equal the "Market Price Indices," rounded to the nearest 1/10th of a cent per ton, for sulfur dioxide emission allowances that are published or provided by Cant▇▇-▇▇▇▇▇▇▇▇▇▇ ▇▇▇ironmental Brokerage Services. The Market Price Index for the current month is published in the prior month (i.e., the January 2000 Market Price Index is published in December 1999). If this information is no longer published, then PURCHASER and SELLER agree to negotiate in good faith on the use of a reasonably adequate substitute.