Emissions Credits. The Owner Entity shall make available and transfer to Power Marketing, as its exclusive agent, all Emissions Credits owned, earned or acquired by the Owner Entity that are in excess of the amount of Emissions Credits required to operate the Units at their scheduled capacity. Power Marketing shall procure for the Owner Entity all Emissions Credits, in excess of those generated by the Owner Entity, that are required by the Owner Entity to operate the Units at their scheduled capacity. The Owner Entity shall cause the Operator to notify Power Marketing on a regular basis, sufficiently in advance of the need therefor, of the amount of any emissions Credits that Power Marketing is to required provide pursuant to this Agreement.
Emissions Credits. Borrower agrees not to sell, assign, encumber, hypothecate or pledge the Emissions Credits without the prior written consent of Lender. Unless otherwise approved in writing by Lender, the proceeds of the sale of Emissions Credits shall be applied to repay the Loan. Borrower grants Lender a first lien security interest in the Emissions Credits. Borrower agreed to take all steps necessary or appropriate with third parties, including Governmental Authorities, to perfect Borrower’s entitlements to the Emissions Credits and to evidence Lender’s lien in the Emissions Credits. Those steps include, but are not limited to, establishing accounts in Lender’s name with Governmental Authorities such as the U.S. Environmental Protection Agency and transferring the credits into Lender’s account as soon as they become available. After an Event of Default, Lender may sell any or all of the Emissions Credits and apply the proceeds thereof, after payment of all expenses of sale, to the repayment of the Loan and shall remit the balance of the proceeds, if any, to Borrower. Borrower agrees to cooperate in good faith with Lender with respect to all matters pertaining to the establishment of Lender’s security interest in the Emissions Credits and, after an Event of Default, the sale of the Emissions Credits.
Emissions Credits. Exercise, or permit any of its Subsidiaries to exercise, the option to transfer emissions credit in lieu of any cash due under the Carbon Credit Hedge Agreement.
Emissions Credits. If at any time during any Fiscal Year, the Net Cash Proceeds received from the sale, transfer or other disposition of Emissions Credits by the Borrower and its Subsidiaries for such Fiscal Year exceeds $10,000,000, promptly but in any event within 45 days after the end of each remaining fiscal quarter for such Fiscal Year, a report summarizing each sale, transfer or other disposition of Emissions Credits during such fiscal quarter, including the amount, a description of the consideration received and the Net Cash Proceeds (if any) received in respect of each such sale, transfer or other disposition.
Emissions Credits. The Parties agree that all emissions credits generated in connection with the manufacture, certification, distribution, and sale of Vehicles are the property of smart gmbh and DaimlerChrysler AG, 'Emissions credits' include, but are not limited to, zero emission vehicle credits, partial zero emissions credits, and non-methane organic gas credits, NOx Credits. If and to the extent DISTRIBUTOR has any rights, DISTRIBUTOR promptly will take all actions necessary to ensure that smart gmbh and DaimlerChrysler AG obtain the full benefit of all such emission credits, at smart GmbH's expense, if any gmbh and DaimlerChrysler AG will not pay any compensation to DISTRIBUTOR in connection with the emissions credits. DISTRIBUTOR makes no representation that DISTRIBUTOR has any rights in such credits to begin with or that credits can be assigned / transferred. The Parties understand that such credits already accrue for the benefit of smart GmbH / DaimlerChrysler AG based on DaimlerChrysler AG certifying the Vehicles. If and to the extent DISTRIBUTOR has any rights and as permitted by applicable law, emission credits received by DISTRIBUTOR as result of this Agreement shall be transferred / assigned to smart GmbH and DaimlerChrysler AG by DISTRIBUTOR without recourse to DISTRIBUTOR.
Emissions Credits. 7.2.1 All air emission credits, reductions, offsets or any other similar benefits arising solely from the operation of the Facility, including, without limitation, greenhouse gases, carbon dioxide equivalent and nitrogen oxides emissions credits or reductions, will be the property of Seller, whether existing or inchoate, known or unknown, accrued, absolute, contingent or otherwise, and whether currently or prospectively accredited, registered, approved, sanctioned, recognized, governed or regulated by an existing or to be formed location, municipal, state, federal, regional, provincial or international governmental, quasi-governmental, public or private body, enterprise or entity.
Emissions Credits. 27 ARTICLE 14
Emissions Credits. Title to and exclusive dominion over all environmental or emissions allowances, offsets, credits, and other entitlements attributable to, or purchased from third parties in connection with, the construction or operation of the CLI Facility shall reside with CLI, and LCC shall have and assert no Claim or right to such allowances, offsets, credits, or other entitlements. Similarly, title to and exclusive dominion over all environmental or emissions allowances, offsets, credits, and other entitlements attributable to, or purchased from third parties in connection with, the construction or operation of the Channelview South Complex shall reside with LCC, and CLI shall have and assert no Claim or right to such allowances, offsets, credits, or other entitlements.
Emissions Credits. Any fuel credits relating to sulfur content in gasoline, winter oxygenate and anti-dumping programs, and any carbon credits, recognized under existing or future Law with respect to emission levels or reductions in emission levels at or from the Transferred Properties, the CUSA-Retained Properties or the CPL-Retained Properties with respect to periods on or prior to the Closing Date;
Emissions Credits. In the event ULTRA or any of its Affiliates transfers or sells any Emissions Credits within five (5) years of the Closing Date, ULTRA shall pay to SWEPI within 5 (five) business days of transfer thereof a cash amount equal to 50% of the fair market value of the consideration received by ULTRA or its Affiliates for such Emissions Credits; provided this Section 7.16 shall not apply to a transfer of Emissions Credits in connection with a transfer of any Oil and Gas Interests.
