Sustainability Metric means for any fiscal year of the Borrower, (a) the total Direct (Scope 1) & Energy Direct (Scope 2) Greenhouse Gas Emissions (“GHG Emissions”), measured in metric tons CO2 (carbon dioxide) equivalent (“CO2e”), of the Borrower and its Subsidiaries during such fiscal year (determined and calculated according to the GHG Protocol Corporate Reporting and Accounting Standard using the Control Approach for defining relevant emissions sources) minus (b) qualified emissions offsets (such as renewable energy certificates (RECs)) of the Borrower and its Subsidiaries during such fiscal year (including any such offsets in which the Borrower or any of its Subsidiaries has an interest including as a result of purchasing environmental attributes of projects other than those owned directly by the Borrower or any of its Subsidiaries), GHG Emissions will be quantified after the end of each fiscal year based on invoice data..
Sustainability Metric means, for any given calendar year (for purposes of this definition, the “subject year”), the percentage change of the Sustainability Metric Components relative to the Sustainability Metric Baseline, which percentage change for any subject year shall be determined and calculated based on the following methodology: (a) the Sustainability Metric Components for such subject year shall be compared year-over-year to the Sustainability Metric Components for the immediately preceding calendar year using a like-for-like rolling baseline year reflecting the Boundary Properties that the Borrower has owned and that were in service for the period of two (2) full consecutive calendar years ending on the last day of such subject year (such methodology described in this clause (a), the “Rolling Base Year Methodology,” and the percentage change of such Sustainability Metric Components for a subject year relative to such Sustainability Metric Components for the immediately preceding calendar year being referred to as the “Rolling Base Year Percentage”, which, for the avoidance of doubt, shall be expressed as a negative percentage in the event such Sustainability Metric Components for such subject year are less than such Sustainability Metric Components for the immediately preceding calendar year); (b) in the case of the Specified Test Year ending December 31, 2022, the Sustainability Metric for such Specified Test Year shall be the percentage equal to the sum of (i) the Rolling Base Year Percentage for such Specified Test Year and (ii) the Rolling Base Year Percentage for the calendar year ended December 31, 2021; and (c) in the case of a Specified Test Year ending after December 31, 2022, the Sustainability Metric for such Specified Test Year shall be the percentage equal to the sum of (i) the Rolling Base Year Percentage for such Specified Test Year and (ii) the Rolling Base Year Percentage for each preceding calendar year ended on or after December 31, 2021.
Sustainability Metric means an environmental sustainability metric relating to the Borrower and its Subsidiaries to be agreed by the Borrower, the Administrative Agent and the Required Lenders.
Examples of Sustainability Metric in a sentence
Each party hereto hereby agrees that the Administrative Agent shall not have any responsibility for (or liability in respect of) reviewing, auditing or otherwise evaluating any calculation by the Borrower of any Sustainability Metric Target or any Sustainability Metric (or any of the data or computations that are part of or related to any such calculation) set forth in any Sustainability Grid Notice.
As of December 31 of the Specified Test Year, the Sustainability Metric was not less than the Sustainability Metric Election Threshold.
With respect to any fiscal year of the Borrower listed in the first column of the table set forth below, a percentage equal to the sum of the Sustainability Metric 2020 Baseline, plus the number of percentage points specified opposite such fiscal year in the table below.
The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into or monitor compliance with, the provisions hereof relating to the Sustainability Metric or the Sustainability Report.
A reference to the “Sustainability Metric for a fiscal year” (or words of similar import) shall mean a reference to the Sustainability Metric as of December 31 of such fiscal year.
More Definitions of Sustainability Metric
Sustainability Metric means, with respect to any fiscal year of the Borrower, the ratio (expressed as a percentage) of the Borrower’s combined Scope 1, Scope 2 and Scope 3 greenhouse gas emissions on a per square foot basis for such fiscal year to the Sustainability Metric 2019 Baseline.
Sustainability Metric means the sum of installed photovoltaic electricity generating capacity measured in kilowatts (kW) of all solar panels owned or managed by Borrower or its subsidiaries (including joint-venture subsidiaries) which, as of the Sustainability Metric Date, have been installed and permitted to operate by the relevant governmental authorities or utility companies (the “Installed Solar Generating Capacity”).
Sustainability Metric means the LEED certified (or other similarly recognized rating systems) stabilized development projects of the Companies as a percentage of the total number of all stabilized development projects of the Companies. As used in this definition of “Sustainability Metric” and in the definition of “Sustainability Metric Percentage,” a development project is considered stabilized when such project has been completed for one year or at least 90% occupied, whichever occurs first (or as Prologis otherwise defines stabilization in its Forms 10-K, 10-Q or 8-K filed with the SEC).
Sustainability Metric means the percentage change of the Borrower’s Sustainability Metric Components for a given fiscal year relative to the Sustainability Metric Baseline.
Sustainability Metric means, collectively, for any fiscal year, the number of Qualifying Properties which have current/active ENERGY STAR, LEED, IREM, CSP, or other similarly recognized third-party green building certifications as a percentage (rounded to one decimal point) of the total number of Qualifying Properties.
Sustainability Metric means, with respect to any fiscal year of the Parent Borrower as determined as of December 31 of such fiscal year, a fraction (expressed as a percentage), the numerator of which is the square footage of Boundary Properties that have current/active ENERGY STAR®, LEED, IREM CSP, or other similarly recognized third-party green building certifications as of such date, and the denominator of which is the total square footage of all Boundary Properties as of such date. A reference to the “Sustainability Metric for a fiscal year” (or words of similar import) shall mean a reference to the Sustainability Metric as of December 31 of such fiscal year.
Sustainability Metric means the percentage change of the Borrowers’ combined Scope 1 and Scope 2 greenhouse gas emissions for a given fiscal year for Income Producing Properties for which the Borrowers, the Guarantors, their Subsidiaries, or any one of them, is directly contracting for utilities, relative to the Sustainability Metric Baseline.