Common use of Obligations of Project Owner Upon a Reversal Clause in Contracts

Obligations of Project Owner Upon a Reversal. Pursuant to the Grassland Project Protocol, Project Owner shall notify the Reserve of any event that may constitute a Reversal. The Project Owner shall notify the Reserve in writing not more than thirty (30) days after the Project Owner first discovers or reasonably should have discovered event(s) that may constitute an Avoidable Reversal. The Project Owner shall notify the Reserve in writing not more than one-hundred-and- eighty (180) days after the Project Owner knows or reasonably should have known of event(s) that may constitute an Unavoidable Reversal, which notice shall include (i) an explanation of the nature of the unavoidable reversal, (ii) a map, of a scale and detail reasonably acceptable to the Reserve, delineating the affected areas and (iii) a calculation of the quantity of Reversible Reductions related to the area affected by the Reversal for which CRTs have been issued, pursuant to Equation 5.14 of the Grassland Project Protocol. As set forth below, the final determination as to whether a Reversal has occurred shall be made by the Reserve.

Obligations of Project Owner Upon a Reversal. Pursuant to the Canada Grassland Project Protocol, Project Owner shall notify the Reserve of any event that may constitute a Reversal. The Project Owner shall notify the Reserve in writing not more than thirty (30) days after the Project Owner first discovers or reasonably should have discovered event(s) that may constitute an Avoidable Reversal. The Project Owner shall notify the Reserve in writing not more than one-hundred-and- eighty (180) days after the Project Owner knows or reasonably should have known of event(s) that may constitute an Unavoidable Reversal, which notice shall include (i) an explanation of the nature of the unavoidable reversal, (ii) a map, of a scale and detail reasonably acceptable to the Reserve, delineating the affected areas and (iii) a calculation of the quantity of Reversible Reductions related to the area affected by the Reversal for which CRTs have been issued, pursuant to Equation 5.14 5.18 of the Canada Grassland Project Protocol. As set forth below, the final determination as to whether a Reversal has occurred shall be made by the Reserve.

Obligations of Project Owner Upon a Reversal. Pursuant to the Grassland Project Soil Enrichment Protocol, Project Owner shall notify the Reserve of any event that may constitute a Reversal. The Project Owner shall notify the Reserve in writing not more than thirty (30) days after the Project Owner first discovers or reasonably should have discovered event(s) that may constitute an Avoidable Reversal. The Project Owner shall notify the Reserve in writing not more than one-hundred-and- eighty thirty (18030) days after the Project Owner knows or reasonably should have known of event(s) that may constitute an Unavoidable Reversal, which and within one year of such notice shall include provide (i) an explanation of the nature of the unavoidable reversal, (ii) a map, of a scale and detail reasonably acceptable to the Reserve, delineating the affected areas and (iii) a calculation of the quantity of Reversible Reductions related to the area affected by the Reversal for which CRTs have been issued, pursuant to Equation 5.14 5.5 of the Grassland Project Soil Enrichment Protocol. As set forth below, the final determination as to whether a Reversal has occurred occurred, and the extent of any such reversal, shall be made by the Reserve.