Reservation of Credits. The Sponsor may enter into agreements with public or private individuals or entities to reserve Program Credits for their use (credit reservation agreements). Credit reservation agreements shall not provide or constitute an assurance or guarantee that any IRT Member will accept the use of such Program Credits for a proposed project. Regardless of such agreements, each IRT Member retains the discretion to determine appropriate Compensatory Mitigation requirements for Permittees, including whether Program Credits may be used to Fulfill such requirements, in accordance with applicable laws and regulations. However, credit reservation agreements may be used to establish financial and contractual terms and conditions under which the Sponsor will option, sell, or assign Program Credits prior to the Transfer of such Credits. For example, anticipating a need to Fulfill Compensatory Mitigation requirements for a proposed project, a project proponent may wish to reserve Program Credits to ensure that they are available if and when an IRT Member determines that Program Credits may be used to Fulfill such Compensatory Mitigation requirements. Credit reservation agreements do not replace, or obviate the need for, a credit Transfer agreement to effectuate the Transfer of Program Credits.
Reservation of Credits. Upon receipt of this fully executed Agreement and payment of the Deposit, Seller shall reserve the Credits for the benefit of the Purchaser and Seller shall notify all appropriate agencies of such reservation.
Reservation of Credits. As of the Effective Date, Xxxxxx agrees to reserve, at no cost to Buyer, 152.5 Stream Credits until Seller receives the As-built Release of the Stream Credits
