Common use of Transfer of Environmental Attributes Clause in Contracts

Transfer of Environmental Attributes. For and in consideration of Buyers entering into this Agreement, and in addition to the agreement by and among Buyers and Seller to purchase and sell Facility Energy on the terms and conditions set forth herein, Seller shall transfer to each Buyer, and each Buyer shall receive from Seller, proportionately in accordance with such Buyer’s Percentage of Facility Output, all right, title, and interest in and to all Environmental Attributes, whether now existing or acquired by Seller or that hereafter come into existence or are acquired by Seller during the Agreement Term associated with the Facility Energy. Seller agrees to transfer and make such Environmental Attributes available to Buyers immediately to the fullest extent allowed by applicable law upon Seller’s production or acquisition of the Environmental Attributes. Seller represents and covenants that it has not assigned, transferred, conveyed, encumbered, sold, or otherwise disposed of and shall not assign, transfer, convey, encumber, sell or otherwise dispose of all or any portion of such Environmental Attributes to any Person other than Buyers or attempt to do any of the foregoing with respect to any of the Environmental Attributes, except as otherwise set forth herein. The Parties acknowledge that the consideration for the transfer of Environmental Attributes is contained within the Contract Price.

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement