Common use of MODIFICATION OF CREDITS Clause in Contracts

MODIFICATION OF CREDITS. If the aquatic resource restoration, establishment, 2 enhancement, and/or preservation activities cannot be implemented in accordance with an 3 approved mitigation plan, the Corps and Ecology must consult with the Sponsor and the IRT to 4 consider modifications to the site mitigation plan, including adaptive management, revisions to 5 the credit release schedule, and alternatives for providing compensatory mitigation to satisfy 6 any credits that have already been sold (see 33 CFR 332.8(l)(2)). Once implemented, if the 7 Mitigation Site does not then achieve its performance‐based milestones, the Corps and Ecology 8 may modify the credit release schedule, including reducing the number of credits according to 9 the procedures described in the federal rule (see 33 CFR 332.8(o)(8)(iii)). Any such modification 10 to an approved mitigation plan or credit release schedule shall occur per Article VI.C. of this 11 Basic Agreement.