Sale of Credits Sample Clauses

Sale of Credits. All activities regulated under Section 10 of the Rivers and Harbors Act, Section 404 of the Clean Water Act and other activities as the Corps may authorize consistent with this Instrument may be eligible to use the ILF Program as compensatory mitigation for unavoidable impacts. Credits purchased may only be used in conjunction with a Corps permit authorization, resolution of an unauthorized activity, or in conjunction with other actions as the Corps may authorize. The District Engineer will make decisions about the appropriate compensatory mitigation on a permit case-by-case basis, during evaluation of a Corps permit application. Authority for approving use of the ILF Program for compensatory mitigation lies with the District Engineer. The responsibility to provide compensatory mitigation remains with the applicant/permittee unless and until credits are purchased from the ILF Program. Upon Corps approval of purchase of credits from the ILF Program, the permittee may contact MARS to secure the necessary amount and resource type of credits, as outlined in Corps permit conditions. Each Section 404 authorization that includes a special condition allowing purchase of credits from the ILF Program will include a requirement that MARS certify the transfer of responsibility via a Statement of Sale of Credit letter to the permittee and the Corps (Exhibit D). Certifications will outline the Corps permit number and state the number and resource type of credits that have been sold to the permittee. A copy of each certificate will be retained in the administrative and accounting records for the ILF Program Instrument. Debits will be reflected in annual accounting reports as outlined in Section VII.
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Sale of Credits. Upon the execution of this Agreement, the Buyer shall pay the Seller for the Credits that may be applied in year one of this Agreement as described in Exhibit A with an initial payment within days and subsequent payments on or before . For every year of this Agreement following the initial year, the Parties agree, on or before , the Buyer shall pay the Seller the total amount due for the Credits that may be applied in that year of the Agreement as described in Exhibit A. Buyer and Seller understand that at the time of the Seller’s credit certification, a reserve ratio of 5% was applied to the total number of generated credits to create a reserve pool of credits that may be used by the State in accordance with COMAR 26.08.11.08(C)(3).
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Sale of Credits. Subject to the terms of this Agreement, and for the consideration herein stated, XXX agrees to sell and Xxxxxxxxx agrees to buy ten (10) Credits.
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Sale of Credits. Provider is selling credits that will be redeemable for Sessions (“Credits”) to Customer and Customer shall assign those Credits to their Students. The Students may redeem each Credit they are assigned in exchange for (1) Session of the Services by Provider or its affiliates. Credits may only be redeemed in exchange for Sessions of the Service, have no cash value, and are non-refundable. Students will not be permitted to redeem the Credits without agreeing to the Provider’s standard terms and conditions governing the Service.
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Sale of Credits. Upon authorization of the wetland mitigation bank through the issuance of a DA permit and/or interagency agreement, the sale of wetland credits and the creation or restoration of wetlands and buffers may commence. The Wetland mitigation bank credits may be sold for compensatory mitigation purposes in accordance with the following conditions:
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Sale of Credits. Xxxxxxx agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
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Sale of Credits. Grantor agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
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Sale of Credits 
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Related to Sale of Credits

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Term Loan Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Term Loan Lender severally, but not jointly, agrees to make available to the Borrower (through the Administrative Agent) on the Closing Date such Term Loan Lender’s Term Loan Commitment Percentage of a term loan in Dollars (the “Term Loan”) in the aggregate principal amount of FORTY-FOUR MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($44,750,000) (the “Term Loan Committed Amount”) for the purposes hereinafter set forth. Upon receipt by the Administrative Agent of the proceeds of the Term Loan, such proceeds will then be made available to the Borrower by the Administrative Agent by crediting the account of the Borrower on the books of the office of the Administrative Agent specified in Section 9.2, or at such other office as the Administrative Agent may designate in writing, with the aggregate of such proceeds made available to the Administrative Agent by the Term Loan Lenders and in like funds as received by the Administrative Agent (or by crediting such other account(s) as directed by the Borrower). The Term Loan may consist of Alternate Base Rate Loans or LIBOR Rate Loans, or a combination thereof, as the Borrower may request; provided, however, that the Term Loan made on the Closing Date or any of the two (2) Business Days following the Closing Date, may only consist of Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter, substantially in the form of Exhibit 2.1(a), reasonably acceptable to the Administrative Agent not less than three (3) Business Days prior to the Closing Date. LIBOR Rate Loans shall be made by each Term Loan Lender at its LIBOR Lending Office and Alternate Base Rate Loans at its Domestic Lending Office. Amounts repaid or prepaid on the Term Loan may not be reborrowed.

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.

  • Letters of Credit (a) The Letter of Credit Commitment.

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