Common use of Remittance of Credits Clause in Contracts

Remittance of Credits. In the event that Buyer provides Seller with AB 32 Compensation, and Seller, or any of Seller’s Affiliates, is allocated, issued or has the right to receive any credits, allowances, offsets or similar item of value with respect to carbon dioxide emissions during the Delivery Term related to the Facility (“Greenhouse Gas Credit”) which could be used to satisfy a Compliance Obligation, including Greenhouse Gas Credits for a portion of, or Seller’s entire fleet of, generating units (all or some of the generating units owned, managed, or controlled by Seller that are subject to the Cap-and-Trade Regulations), then Seller shall transfer or cause the transfer of such Greenhouse Gas Credit or a proportional amount of such Greenhouse Gas Credits in the case of a fleet of generating units, to Buyer, at no cost to Buyer, promptly upon receipt by Seller or Seller’s Affiliate (to the extent possible under Law). Within ten (10) days of Buyer’s request, Seller shall provide to Buyer sufficient written evidence, as reasonably determined by Buyer, that Seller has transferred to Buyer a proportional amount of the Greenhouse Gas Credits in the case of a fleet of generating units.

Remittance of Credits. In the event that Buyer provides Seller with AB 32 Compensation, and Seller, or any of Seller’s Affiliates, is allocated, issued or has the right to receive any credits, allowances, offsets or similar item of value with respect to carbon dioxide emissions during the Delivery Term related to the Facility (“Greenhouse Gas Carbon Dioxide Emissions Credit”) which could be used to satisfy a Compliance Obligation, including Greenhouse Gas Carbon Dioxide Emissions Credits for a portion of, or Seller’s entire fleet of, generating units (all or some of the generating units owned, managed, or controlled by Seller that are subject to the Cap-and-Trade Regulations), then Seller shall transfer or cause the transfer of such Greenhouse Gas Carbon Dioxide Emissions Credit or a proportional amount of such Greenhouse Gas Carbon Dioxide Emissions Credits in the case of a fleet of generating units, to Buyer, at no cost to Buyer, promptly upon receipt by Seller or Seller’s Affiliate (to the extent possible under Law). Within ten (10) days of Buyer’s request, Seller shall provide to Buyer sufficient written evidence, as reasonably determined by Buyer, that Seller has transferred to Buyer a proportional amount of the Greenhouse Gas Carbon Dioxide Emissions Credits in the case of a fleet of generating units.

Remittance of Credits. In the event that Buyer provides Seller with AB 32 Compensation, and Seller, or any of Seller’s Affiliates, is allocated, issued or has the right to receive any credits, allowances, offsets or similar item of value with respect to carbon dioxide emissions during the Delivery Term related to the Facility (“Greenhouse Gas Carbon Dioxide Emissions Credit”) which could be used to satisfy a Compliance Obligation, including Greenhouse Gas Carbon Dioxide Emissions Credits for a portion of, or Seller’s entire fleet of, generating units (all or some of the generating units owned, managed, or controlled by Seller that are subject to the Cap-and-Trade Regulations), then Seller shall transfer or cause the transfer of such Greenhouse Gas Carbon Dioxide Emissions Credit or a proportional amount of such Greenhouse Gas Carbon Dioxide Emissions Credits in the case of a fleet of generating units, to Buyer, at no cost to Buyer, promptly upon receipt by Seller or Seller’s Affiliate (to the extent possible under Law). Within ten (10) days of Buyer’s request, Seller shall provide to Buyer sufficient written evidence, as reasonably determined by BuyerXxxxx, that Seller has transferred to Buyer a proportional amount of the Greenhouse Gas Carbon Dioxide Emissions Credits in the case of a fleet of generating units.