Orange County NC Website
Browse       Search
104 <br /> multiplying (i) the Conversion M'vlBTU HEW for such month by (ii) the lesser of the BTU <br /> Equivalent Price or the Adjusted BTU Equivalent Price. Expressed in a formula, the County's <br /> monthly Conversion Payment=(.166)x(Conversion MMBTU HHV)x BTU Equivalent Price or <br /> Adjusted BTU Equivalent Price, whichever is less. A sample calculation of the Conversion <br /> Payment is shown in Exhibit F. <br /> 1241 1-21The Parties recognize that the regulations,policies and procedures governing <br /> reductions in GHG emissions and associated markets for Environmental Benefits, including <br /> Carbon Credits and Emission Allowances,are evolving. Accordingly,the University will strive to <br /> adopt cost effective practices with respect to the LFG Project to maximize the Environmental <br /> Benefits resulting from the project and to measure and document them in a way that meets both the <br /> University's internal carbon reduction objectives and the County's objective to generate economic <br /> benefits. <br /> E. Adjustments to County Payments <br /> • 121. 122. General. During the Term of this Agreement, the Parties acknowledge that <br /> changes in the renewable energy marketplace and in the regulation of GHG emissions may occur <br /> that may affect the compensation paid to the County under this Agreement. Accordingly,pursuant <br /> to the terms and conditions hereunder, the Parties agree to make certain adjustments to the <br /> County's payments under the following circumstances as set forth in Paragraphs 123 126122-125 <br /> hereunder: (a) beginning in 2015 and in each year thereafter during the Term the Agreement, to <br /> reflect certain differences that may arise between the Average Allowance Market Prices for such <br /> years and the Forecasted Carbon Prices set forth on Exhibit A for such years (the "Emission <br /> Allowance Price Adjustment"); (b)to reflect changes in Global Warming Potential that may arise <br /> during the Term of the Agreement (the "GWP Adjustment"); and (c) to reflect additional <br /> compensation that may result from the University monetizing additional or different <br /> (00022477.DOC) <br />