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.
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Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
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 Solar Power 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 Solar Power Developer;
b. In the second year following the Commercial Operation Date, the Solar Power 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.
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