Emission Reductions Payment Agreement definition

Emission Reductions Payment Agreement or “ERPA” means an agreement governing the acquisition and transfer of Emission Reductions entered into between the Trustee of the Carbon Fund and a REDD Country Participant or an entity approved by a REDD Country Participant;
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Emission Reductions Payment Agreement or “ERPA” means the separate verified emission reductions payment agreement(s) entered into between the Program Entity and the Trustee for the payment of VERs generated under the Approved Program;
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Examples of Emission Reductions Payment Agreement in a sentence

  • Before any negotiations on a potential future Emission Reductions Payment Agreement (ERPA) can start, such countries need to first develop their ER Program, present a corresponding ER Program Document (ER-PD) to the Carbon Fund and have their ER-PD selected by CFPs into the Carbon Fund program portfolio.

  • This component encompasses the results-based payments under the Emission Reductions Payment Agreement (ERPA).

  • This does not guarantee a Country willmake it to Emission Reductions Payment Agreement (ERPA).

  • Tentative timeline for ER programSigning of an Emission Reductions Payment Agreement (ERPA) – 2015 First MRV and performance based payment –2019-2020Second MRV and performance based payment–2025 or sooner Third MRV and performance based payment–2030 or sooner 5.

  • We refer to the Forest Carbon Partnership Facility Emission Reductions Payment Agreement dated [ ] between [ ] ("Program Entity") and the International Bank for Reconstruction and Development, as Trustee of Tranche B of the Carbon Fund of the Forest Carbon Partnership Facility ("IBRD" or "Trustee")[, as amended] ("ERPA").

  • Please note that the way these key issues will be considered in the ER-PD may affect the subsequent decision of each tranche of the Carbon Fund whether or not to ultimately select the ER Program into the portfolio of the respective tranche of the Carbon Fund and, thereby, to proceed to negotiating an Emission Reductions Payment Agreement for the ER Program.

  • These jurisdictional ER Programs are implemented in host countries led by a national institution that signs an Emission Reductions Payment Agreement (ERPA) with the International Bank for Reconstruction and Development (IBRD) in its capacity as Trustee of a Tranche of the Fund.

  • The Emission Reductions Payment Agreement (ER-PA) between the World Bank and GoL was signed in December 2020, finalizing the process of REDD+ Readiness.

  • Whereas the duration of an Emission Reductions Payment Agreement (ERPA) between the Carbon Fund and the ER programs for the purchase of ERs is expected to be less than or equal to the total program duration.Use of fundsA part of the financing plan provides information on the use of funds for implementing the proposed interventions, supporting institutional arrangements, and organizing monitoring and verification of program results.

  • Once an Emissions Reduction Program (ER Program) is approved by the Carbon Fund Participants, the World Bank drafts an Emission Reductions Payment Agreement (ERPA), to be agreed by the REDD+ country and Carbon Fund Participants, and signed by the REDD+ country entity and the World Bank.

Related to Emission Reductions Payment Agreement

  • Emission Reduction Credits or “ERC(s)” means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Subordination Reduction Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the Excess Subordinated Amount and (b) the Net Monthly Excess Cash Flow.

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Subordination Depletion Date The Distribution Date preceding the first Distribution Date on which the Class A Percentage (determined pursuant to clause (ii) of the definition thereof) equals or exceeds 100%.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • Class C Required Amount means with respect to any Payment Date, an amount equal to the excess of the amount described in Section 4.4(a)(v) over Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a).

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • Cumulative Appraisal Reduction Amount As of any date of determination by the Special Servicer, the sum of (i) all Appraisal Reduction Amounts then in effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency Amount then in effect. The Certificate Administrator and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Cumulative Appraisal Reduction Amount. None of the Master Servicer, the Trustee nor the Certificate Administrator shall calculate or verify any Cumulative Appraisal Reduction Amount.

  • Class A Required Amount shall have the meaning specified in subsection 4.04(a).

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Unallocated annuity contract means any annuity contract or group annuity certificate which is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate.

  • emission allowance means a financial instrument as defined in point (11) of Section C of Annex I of Directive [new MiFID].

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Termination Amount has the meaning set forth in Section 7.02(a).

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Commitment Reduction Notice has the meaning given that term in Section 2.13.