Common use of Unavoidable Reversals Clause in Contracts

Unavoidable Reversals. If the Reserve determines that a Reversal has occurred that is not due to Forest Owner's negligence, gross negligence or willful misconduct, including, without limitation, wildfires or disease that are not due to Forest Owner's negligence, gross negligence or willful misconduct ("Unavoidable Reversal"), the Reserve may Retire a quantity of CRTs from the Reserve's Buffer Pool (as described in the Forest Project Protocols) up to the difference between the Net Carbon Reduction for the year in which the Unavoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Unavoidable Reversal.

Appears in 3 contracts

Samples: Covenant and Project Implementation Agreement, Covenant and Project Implementation Agreement, Restrictive Covenant and Project Implementation Agreement

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Unavoidable Reversals. If the Reserve determines that a Reversal has occurred that is not due to Forest Owner's negligence, gross negligence or willful misconduct, including, without limitation, wildfires or disease that are not due to Forest Owner's negligence, gross negligence or willful misconduct ("Unavoidable Reversal"), the Reserve may Retire a quantity of CRTs from the Reserve's Buffer Pool (as described in the Forest Project Protocols) up to the difference between the Net Carbon Reduction for the year in which the Unavoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Unavoidable Reversal.

Appears in 1 contract

Samples: Project Implementation Agreement

Unavoidable Reversals. If the Reserve determines that there has been a Reversal has occurred that is not due to the Forest Owner's negligence, gross negligence or willful misconductintentmisconduct, including, without limitation, wildfires or disease that are not due to the Forest Owner's negligence, gross negligence or willful misconduct intentmisconduct ("Unavoidable Reversal"), the Reserve shall, at its option,may Retire a quantity of CRTs from the Reserve's Buffer Pool (as described in the Forest Project Protocols) up to the difference between the Net Carbon Reduction for the year in which the Unavoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Unavoidable Reversal.

Appears in 1 contract

Samples: Project Implementation Agreement

Unavoidable Reversals. If the Reserve determines that there has been a Reversal has occurred that is not due to the Forest Owner's ’s negligence, gross negligence or willful misconductintent, including, without limitation, wildfires or disease that are not due to the Forest Owner's ’s negligence, gross negligence or willful misconduct intent ("Unavoidable Reversal"), the Reserve may shall, at its option, Retire a quantity of CRTs from the Reserve's ’s Buffer Pool (as described in the Forest Project Protocols) up to the difference between the Net Carbon Reduction for the year in which the Unavoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Unavoidable Reversal.

Appears in 1 contract

Samples: Project Implementation Agreement

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Unavoidable Reversals. If the Reserve determines that there has been a Reversal has occurred that is not due to the Forest Owner's ’s negligence, gross negligence or willful misconductintent, including, without limitation, wildfires or disease that are not due to the Forest Owner's ’s negligence, gross gross-negligence or willful misconduct intent ("Unavoidable Reversal"), the Reserve may shall Retire a quantity of CRTs from the Reserve's ’s Buffer Pool (as described in the Forest Project Protocols) up to the difference between the Net Carbon Reduction for the year in which the Unavoidable Reversal occurred and the Net Carbon Reduction of the immediately preceding year, for each year in which there has been an Unavoidable Reversal.

Appears in 1 contract

Samples: Project Implementation Agreement

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