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.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
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
Sample 1Sample 2
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.
Sample 1
Sale of Credits. 9.1 The Host Authority hereby assigns all rights in respect of Credits in connection with a Project to the Lead Authority subject to receipt by the Host Authority of the Grant Funding in respect of that Project.
Sample 1
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.
Sample 1
Sale of Credits. Xxxxxxx agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
Sample 1
Sale of Credits. Grantor agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
Sample 1
AutoNDA by SimpleDocs
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: 1) The sponsor may sell credits as they are released by the MBRT. Credits may only be sold to applicants who have received authorization to use the wetland mitigation bank via the appropriate permits and/or certification. Both the sponsor and the applicant shall submit a signed credit transfer agreement (Attachment B) and all applicable regulatory Instruments requiring the mitigation and authorizing the use of the wetland mitigation bank (i.e., a signed 404 permit, 401 certification, NPDES permit, construction in the floodway permit) to the leadfederal agency and the agency requiring the mitigation to document that the debiting action has been completed. 2) Certified credits may be sold at market value. 3) The sponsor shall keep a ledger and provide the lead federal agency records that can be audited to ensure that credits transferred are used only once. All records must be available for any member of the MBRT to review.
Sample 1
Sale of Credits 
Sample 1Sample 2

Related to Sale of Credits

  • Advance of Credits Where an employee has insufficient credits to permit the granting of special leave within the meaning of this Article, leave up to a maximum of five (5) days may, at the discretion of the Employer, be granted, subject to the deduction of such advance leave from any special leave credits subsequently earned. Should the employee leave prior to earning sufficient credit, any outstanding leave paid shall be recovered.

  • Application of credit balances Each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Transfer of Credits The receiving institution will accept 60 credits from the sending program. A total of 62 credits remain to complete the receiving program.

  • All Extensions of Credit The obligation of Lenders to make any Credit Extension hereunder (including the initial Credit Extension) is subject to the following additional conditions precedent:

  • Use of Credit Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that Lender will have received on or before the day of such Advance or issuance of such Letter of Credit all of the following, each dated (unless otherwise indicated) the Closing Date, in form and substance satisfactory to Lender:

  • Revolving Line of Credit (a) The Bank hereby establishes in favor of the Borrower a revolving line of credit (the “Line of Credit”). The Borrower shall be entitled to borrow, repay and reborrow funds under the Line of Credit in accordance with the terms hereof so long as the total principal amount owed to the Bank under the Line of Credit does not exceed $25,000,000.00 (or such lesser amount as is set forth herein) during the Revolving Period. The Bank’s obligation to make advances hereunder shall terminate at the expiration of the Revolving Period. (b) The Borrower’s indebtedness under the Line of Credit shall be evidenced by a promissory note (as amended, extended or renewed from time to time, the “Line of Credit Note”) of even date herewith executed by the Borrower in favor of the Bank in the original principal amount of $25,000,000.00. The Line of Credit Note shall bear interest at the rate set forth therein and shall be payable as set forth therein. (c) The Bank shall make each advance under the Line of Credit upon written or telephonic notice from the Borrower to the Bank requesting an advance. The notice shall specify the date for which the advance is requested (which must be a Business Day) and the amount of the advance. The Bank must receive the notice prior to 12:00 noon (Eastern time) on the Business Day of the advance. Alternatively, the Borrower may request advances by drawing checks on a deposit account that is linked to the credit facility hereunder in accordance with disbursement arrangements that are mutually satisfactory to the parties. The Bank will make each requested advance available to the Borrower not later than the close of business on the Business Day of the request by crediting the Borrower’s account maintained with the Bank in the amount of the advance if as of such time: (i) the Bank’s obligation to make advances hereunder has not terminated or expired; (ii) a Default or Event of Default has not occurred; and (iii) all conditions to the advance set forth herein or in any other Loan Documents have been satisfied. The Bank may rely upon any written or telephonic notice given by any person that the Bank in good faith believes is an authorized representative of the Borrower without the necessity of any independent investigation. If any telephonic notice conflicts with a written confirmation, the telephonic notice shall govern if the Bank has acted in reliance thereon. (d) For purposes hereof, the term “Revolving Period” shall mean a period commencing on the date hereof and terminating on March 18, 2007.

  • All Credit Extensions The obligation of each Lender and each Issuer to make any Credit Extension shall be subject to the satisfaction of each of the conditions precedent set forth below.

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!