Agenda - 02-03-2009 - 6b - Laserfiche WebLink

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40 Carbon Credits and Emission Allowances, are evolving. Accordingly, the University will strive to adopt cost effective practices with respect to the LFG Project to maximize the Environmental Benefits resulting from the project and to measure and document them in a way that meets both the University's internal carbon reduction objectives and the County's objective to generate economic benefits.. E. Adjustments to County Payments 121. General. During the Term of this Agreement, the Parties acknowledge that changes in the renewable energy marketplace and in ,_ on of GHG emissions may occur that may affect the compensation paid to the unde .'s Agreement. Accordingly, pursuant to the terms and conditions hereunder, the P• a to make certain adjustments to the County's payments under the following circumstances forth in Paragraphs 122-125 hereunder: (a) beginning in 2015 and in each year thereafter d 'i; 'the Term the Agreement, to reflect certain differences r arise between the Average Allowance Market Prices for such years and the For-. €, G� Carbon ` .ces set forth on Exhibit A for such years (the "Emission Allowance Price Ad'ustm- EO ges in Global Warming Potential that may arise during the.Term of the Ay ent (the "GWP Adjustment"); and (c) to reflect additional compensation that may result a • . the University monetizing additional or different Environmental Benefits under this Agreement (the "Adjustment for Other Environmental Benefits"). The Parties shall jointly retain the Carbon Price Consultant, beginning on or about the date that the flare becomes operational, and the Parties shall share equally all fees and expenses payable to the Carbon Price Consultant. 122. Emission Allowance Price Adjustment. The Parties acknowledge that the Flare and Conversion Percentages have been established, in part, based on the Forecasted Carbon Prices set forth on Exhibit A. Any adjustment in the Flare and Conversion Percentages pursuant 35 (00018638-DOC 21)