Sharing of Clean Development Mechanism (CDM) Benefits Sample Clauses
Sharing of Clean Development Mechanism (CDM) Benefits. The Power Project shall be compatible to CDM claims and all such CDM claims shall be reported to ESCOM periodically by the Developer. The proceeds of carbon credit from approved CDM project shall be shared between the Parties in the following manner:
a. 100% of the gross proceeds of CDM benefit accrued in the first year following the date of Commercial Operation Date shall be retained by the Developer;
b. In the second year following the Commercial Operation Date, the Developer shall give 10% share in the gross proceeds of the CDM benefit to the ESCOM and the share of benefit to ESCOM shall be progressively increased by 10% every year thereafter till it reaches 50%, where after the proceeds shall be shared in equal proportion between the Parties.
Sharing of Clean Development Mechanism (CDM) Benefits. The Power Project can be compatible to CDM claims and all such CDM claims shall be reported to APDCL periodically by the Solar Power Developer. The proceeds of carbon credit from approved CDM project shall be shared between the Parties in the following manner:
a. 100% of the gross proceeds of CDM benefit accrued in the first year following the date of Commercial Operation Date shall be retained by the Solar Power Developer;
b. In the second year following the Commercial Operation Date, the Solar Power Developer shall give 10% share in the gross proceeds of the CDM benefit to APDCL and the share of benefit to APDCL shall be progressively increased by 10% every year thereafter till it reaches 50%, where after the proceeds shall be shared in equal proportion between the Parties.
Sharing of Clean Development Mechanism (CDM) Benefits. The Power Project shall be compatible to CDM claims and all such CDM claims shall be reported to BESCOM periodically by the Developer. The proceeds of carbon credit from approved CDM project shall be shared between the Parties in the following manner:
a. 100% (one hundred percent) of the gross proceeds of CDM benefit accrued in the first year following the date of Commercial Operation Date shall be retained by the Developer;
b. In the second year following the Commercial Operation Date, the Developer shall give 10% (ten percent) share in the gross proceeds of the CDM benefit to BESCOM and the share of benefit to BESCOM shall be progressively increased by 10% (ten percent) every year thereafter till it reaches 50% (fifty percent), where after the proceeds shall be shared in equal proportion between the Parties.
Sharing of Clean Development Mechanism (CDM) Benefits. The Power Project shall be compatible to CDM/Carbon Credit Claims (CC) and all such CDM claims shall be reported to TGDISCOMs periodically by the SPG if such benefit is notified by Government. The proceeds of carbon credit from approved CDM project shall be shared between the Parties in the following manner:
a) 100% of the gross proceeds of CDM/CC benefit accrued in the first year following the date of Commercial Operation Date shall be retained by the SPG;