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Agenda - 02-03-2009 - 6b
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Agenda - 02-03-2009 - 6b
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3/21/2016 10:50:10 AM
Creation date
1/30/2009 3:34:02 PM
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BOCC
Date
2/3/2009
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6b
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Minutes - 20090203
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\Board of County Commissioners\Minutes - Approved\2000's\2009
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40 <br /> Carbon Credits and Emission Allowances, are evolving. Accordingly, the University will strive <br /> to 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 <br /> the University's internal carbon reduction objectives and the County's objective to generate <br /> economic benefits.. <br /> E. Adjustments to County Payments <br /> 121. General. During the Term of this Agreement, the Parties acknowledge that <br /> changes in the renewable energy marketplace and in ,_ on of GHG emissions may occur <br /> that may affect the compensation paid to the unde .'s Agreement. Accordingly, <br /> pursuant to the terms and conditions hereunder, the P• a to make certain adjustments to <br /> the County's payments under the following circumstances forth in Paragraphs 122-125 <br /> hereunder: (a) beginning in 2015 and in each year thereafter d 'i; 'the Term the Agreement, to <br /> reflect certain differences r arise between the Average Allowance Market Prices for such <br /> years and the For-. €, G� Carbon ` .ces set forth on Exhibit A for such years (the "Emission <br /> Allowance Price Ad'ustm- EO ges in Global Warming Potential that may <br /> arise during the.Term of the Ay ent (the "GWP Adjustment"); and (c) to reflect additional <br /> compensation that may result a • . the University monetizing additional or different <br /> Environmental Benefits under this Agreement (the "Adjustment for Other Environmental <br /> Benefits"). The Parties shall jointly retain the Carbon Price Consultant, beginning on or about <br /> the date that the flare becomes operational, and the Parties shall share equally all fees and <br /> expenses payable to the Carbon Price Consultant. <br /> 122. Emission Allowance Price Adjustment. The Parties acknowledge that the Flare <br /> and Conversion Percentages have been established, in part, based on the Forecasted Carbon <br /> Prices set forth on Exhibit A. Any adjustment in the Flare and Conversion Percentages pursuant <br /> 35 <br /> (00018638-DOC 21) <br />
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