Emission Reduction Credits Clause Samples

The Emission Reduction Credits clause establishes the terms under which credits for reducing greenhouse gas emissions are recognized, allocated, or transferred between parties. Typically, this clause outlines the criteria for generating such credits, the process for verifying reductions, and the rights of each party to claim or trade these credits, often in the context of regulatory or voluntary carbon markets. Its core practical function is to ensure clarity and prevent disputes over ownership and use of emission reduction credits, thereby facilitating compliance with environmental regulations or sustainability commitments.
Emission Reduction Credits. Buyer shall be satisfied with the form, substance and quantity of ERCs to provide for the lifetime operation of the Project.
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Emission Reduction Credits. ‌ (a) The Emission Reduction Credits to be transferred to Buyer hereunder are valid and properly registered in the State Emissions Registry established by UDAQ pursuant to R-307-403- 8 of the Utah Administrative Code. Upon transfer of the Emission Reduction Credits hereunder, the Emission Reduction Credits will be usable under the Utah Air Quality Rules as emission offsets for the Project, and a sufficient quantity of Emission Reduction Credits will sufficient to satisfy fully any emission offset requirements necessary to obtain the Emissions Approvals. (b) Documents establishing control of a sufficient quantity of ERCs to operate the Project at a one hundred percent (100%) capacity factor, including summer peaking operations, are attached as Appendix M. These Credits shall be acquired no less than six months prior to Substantial Completion.
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Emission Reduction Credits. Any emissions reduction credits generated by the work performed pursuant to this Agreement cannot be used or claimed by Subrecipient for any purpose.
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Emission Reduction Credits. Emission reduction credits, granted to HVI are detailed in revised DOI 006 issued to HVI by the District, in May 2003. The ERC’s are based on IC Engine emission reductions at the Bell Lease Compressor Plant.
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Emission Reduction Credits. Ownership of all Emission Reduction Credits shall be effectively transferred to Buyer as of the Closing.
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Emission Reduction Credits. 8.4.1 Any Emission Reduction Credits arising out of the generation and sale of solar energy by the PV Facility shall be the property, and any costs related thereto shall be to the account of NEPCO (which may assign such Emission Reduction Credits to GOJ) and the Project Company undertakes to ensure that such Emission Reduction Credits are vested in GOJ and/or NEPCO and shall at NEPCO's cost execute all documents which may be required including, but not limited to, documents transferring such Emission Reduction Credits to NEPCO and/or GOJ, without further compensation or indemnity. The Project Company shall fully cooperate and provide to NEPCO all the required data, report, access and any other required documents needed to generate such Emission Reduction Credits. 8.4.2 NEPCO acknowledges that the Project Company: (a) does not represent or warrant that the Project and/or the PV Facility will, or may be, entitled to any Emission Reduction Credits at any time; (b) has no payment obligations to NEPCO in connection with any Emission Reduction Credits; and (c) shall not be liable to NEPCO and/or the GOJ (as the case may be) should the Project or the PV Facility not be entitled to be issued any Emission Reduction Credits, or should NEPCO, or the GOJ (as the case may be), fail to be awarded any Emission Reduction Credits in respect of the Project or the PV Facility, for any reason beyond the Project Company’s control.
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Emission Reduction Credits 
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Related to Emission Reduction Credits

  • Vacation Credits All employees shall participate in the County’s Terminal Pay Plan (Plan). However, only the terminal paychecks (including unused vacation) of those employees who have reached the age of fifty-five (55) shall be placed into the Plan. These terminal paychecks shall be placed into the Plan on a pre-tax basis in accordance with the Plan, all applicable laws and all rules and regulations applicable to the Plan.

  • Service Level Credits If Verint does not meet the Uptime Percentage levels specified below, Customer will be entitled, upon written request, to a service level credit (“Service Level Credit”) to be calculated, with respect to the applicable Hosted Environment, as follows: • If Uptime Percentage is at least 99.95% of the month’s minutes, no Service Level Credits are provided; or • If Uptime Percentage is 99.75% to 99.94% (inclusive) of the month’s minutes, Customer will be eligible for a credit of 5% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint; or • If Uptime Percentage is 99.50% to 99.74% (inclusive) of the month’s minutes, Customer will be eligible for a credit of 7.5% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint; or • If Uptime Percentage is less than 99.50% of the month’s minutes, Customer will be eligible for a credit of 10.0% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint. Customer shall only be eligible to request Service Level Credits if Customer notifies Verint in writing within thirty (30) days from the end of the month for which Service Level Credits are due. All claims will be verified against Verint’s system records. In the event after such notification Verint determines that Service Level Credits are not due, or that different Service Level Credits are due, Verint shall notify Customer in writing on that finding. With respect to any Services Level credits due under Orders placed directly by Customer on Verint, Service Level Credits will be applied to the next invoice following Customer’s request and Verint’s confirmation of available credits; with respect to any Service Level Credits due for SaaS Services under Orders placed on Verint by a Verint authorized reseller on Customer’s behalf, Service Level Credits will be issued by such reseller following Customer’s request and Verint’s confirmation of available credits and such Services Level Credits may only be used by Customer with respect to subsequent purchases of Verint offerings through that reseller. Service Level Credits shall be Customer’s sole and exclusive remedy in the event of any failure to meet the Service Levels. Verint will only provide records of system availability in response to Customer’s good faith claims.

  • Transmission Credits No later than thirty (30) days prior to the Commercial Operation Date, the Interconnection Customer may make a one-time election by written notice to the CAISO and the Participating TO to receive Congestion Revenue Rights as defined in and as available under the CAISO Tariff at the time of the election in accordance with the CAISO Tariff, in lieu of a refund of the cost of Network Upgrades in accordance with Article 11.4.1.

  • Service Credits Employees on pregnancy leave shall be entitled to normal accumulation of service credits for the duration of the pregnancy leave.

  • Salary Reduction A reduction in pay from one step to another, which is not below the minimum rate established for the position by the salary plan. A copy of the notice of reduction shall be sent promptly to the City Manager Department for inclusion in the employee's official personnel file.