Mitigation Banks Sample Clauses

The Mitigation Banks clause establishes the use of third-party conservation or restoration projects, known as mitigation banks, to offset environmental impacts caused by a development or activity. In practice, this clause allows a party responsible for environmental disturbance to purchase credits from an approved mitigation bank, which has already undertaken habitat restoration or preservation efforts elsewhere. This mechanism streamlines compliance with environmental regulations by providing a flexible, market-based solution for compensating ecological loss, ensuring that environmental impacts are effectively addressed even when on-site mitigation is not feasible.
Mitigation Banks. A. Joint Review Teams Joint review of mitigation bank applications can serve to facilitate more efficient and effective review of such applications. At the request of one or more of the parties which has permitting responsibilities for a proposed mitigation bank, an interagency review team (Team) shall be formed, comprised, at a minimum, of representatives from the Corps, the Department, and the appropriate District. B. Team Coordination The Team shall coordinate the following: 1. Pre-application meetings involving the planning of mitigation banks; 2. Reviewing mitigation bank permit applications; 3. Sharing of relevant application information, including letters and staff reports; 4. Assigning the number and use of available mitigation credits, establishing mitigation service areas, and developing compatible mitigation bank permit conditions, to the extent possible under the applicable rule criteria of the parties; 5. Tracking the withdrawal of mitigation credits; 6. Conducting inspections of the bank; and 7. Determining success of the bank.
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Mitigation Banks a. The DEPARTMENT shall review and take final action on all permit applications for mitigation banks, under Part IV of Chapter 373, F.S., filed by: (1) Entities which propose mitigation banks primarily to offset the impacts of solid waste management facilities for which the DEPARTMENT is responsible under Section II. (2) Entities engaged in the business of mining which propose mitigation banks primarily to offset the impacts of mining projects for which the DEPARTMENT is responsible under Section II. (3) Entities engaged in the business of power production which propose mitigation banks primarily to offset the impacts of power plants or electrical distribution or transmission lines or other facilities related to the production, transmission or distribution of electricity for which the DEPARTMENT is responsible under Section II. (4) Entities engaged in the business of communication transmission which propose mitigation banks primarily to offset the impacts of communication cables or lines for which the DEPARTMENT is responsible under Section II. (5) Entities engaged in the business of natural gas or petroleum exploration, production, or distribution which propose mitigation banks primarily to offset the impacts of natural gas or petroleum exploration, production or distribution activities or facilities, or product pipelines for which the DEPARTMENT is responsible under Section II. (6) Governmental entities which propose mitigation banks primarily to offset the impacts of navigational dredging which they conduct for which the DEPARTMENT is responsible under Section II. (7) Port authorities as defined in Subsection 315.02(2), F.S., which propose mitigation banks primarily to offset the impacts of seaports or adjacent seaport related development for which the DEPARTMENT is responsible under Section II. (8) The DISTRICT. b. For the purposes of Section II.A.3., “primarily to offset” shall mean that greater than 50 percent of the assigned mitigation credits from the proposed mitigation bank are proposed to offset impacts which result from the project type as specified in one of paragraphs (1) through (7) of Section II.A.3.a. However, nothing in Section
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Mitigation Banks a. The DEPARTMENT shall review and take final action on all permit applications for mitigation banks, under Part IV, Chapter 373, F.S. b. To establish a Mitigation Bank, the DISTRICT shall submit a Mitigation Bank application, including a Mitigation Bank Plan, to the DEPARTMENT. The Mitigation Bank Plan shall identify one or more parcels of land to be acquired for mitigation site(s) or identify one or more parcels of land in which the DISTRICT has a legal or equitable interest. During the Mitigation Bank application review process, there shall be no more than two requests for additional information.
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Mitigation Banks. Instruments for mitigation banks or in-lieu-fee programs developed for the Department must be signed by the Regulatory Chief, or a higher level position that is not funded by any agreement.
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Related to Mitigation Banks

  • Mitigation by the Lenders 15.1 Mitigation Each Finance Party shall, in consultation with the Borrowers take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to any of Clause 7.1 (Illegality), Clause 12 (Tax Gross Up and Indemnities) or Clause 13 (Increased Costs) including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate or Facility Office. The above does not in any way limit the obligations of any Security Party under the Finance Documents.

  • Set Off; Mitigation The Company’s obligation to pay Employee the amounts provided and to make the arrangements provided hereunder shall be subject to set-off, counterclaim, or recoupment of amounts owed by Employee to the Company or its affiliates; provided, however, that to the extent any amount so subject to set-off, counterclaim, or recoupment is payable in installments hereunder, such set-off, counterclaim, or recoupment shall not modify the applicable payment date of any installment, and to the extent an obligation cannot be satisfied by reduction of a single installment payment, any portion not satisfied shall remain an outstanding obligation of Employee and shall be applied to the next installment only at such time the installment is otherwise payable pursuant to the specified payment schedule. Employee shall not be required to mitigate the amount of any payment provided pursuant to this Agreement by seeking other employment or otherwise, and except as provided in Section 8(d)(iv) hereof, the amount of any payment provided for pursuant to this Agreement shall not be reduced by any compensation earned as a result of Employee’s other employment or otherwise.

  • Mitigation Obligations; Replacement of Lenders (a) If any Lender requests compensation under Section 2.12, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.12 or 2.14, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. (b) If any Lender requests compensation under Section 2.12, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, or if any Lender defaults in its obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.12 or payments required to be made pursuant to Section 2.14, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.

  • Reliance by Administrative Agent, L/C Issuers and Lenders The Administrative Agent, the L/C Issuers and the Lenders shall be entitled to rely and act upon any notices (including telephonic notices, Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, each L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance in good faith by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

  • Branches of U.S. Banks (a) Except as otherwise set forth in this Contract, the provisions hereof shall not apply where the custody of the Portfolios assets are maintained in a foreign branch of a banking institution which is a "bank" as defined by Section 2(a)(5) of the Investment Company Act of 1940 meeting the qualification set forth in Section 26(a) of said Act. The appointment of any such branch as a sub-custodian shall be governed by paragraph 1 of this Contract. (b) Cash held for each Portfolio of the Fund in the United Kingdom shall be maintained in an interest bearing account established for the Fund with the Custodian's London branch, which account shall be subject to the direction of the Custodian, State Street London Ltd. or both.