Agenda - 02-17-2009 - 4l - Laserfiche WebLink

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affect the compensation paid to the County under this Agreement. Accordingly, pursuant to the terms and conditions hereunder, the Parties agree to make certain adjustments to the County's payments under the following circumstances as set forth in Paragraphs 122-125 hereunder: (a) beginning in 2015 and in each year thereafter during the Term the Agreement, to reflect certain differences that may arise between the Average Allowance Market Prices for such years and the Forecasted Carbon Prices set forth on Exhibit A for such years (the "Emission Allowance Price Adjustment"); (b)to reflect changes in Global Warming Potential that may arise during the Term of the Agreement (the "GWP Adjustment"); and (c) to reflect additional compensation that may result from 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 to this Paragraph shall be based on a comparison of the Average Allowance Market Prices and the Forecasted Carbon Prices performed pursuant to a methodology (the "Emission Allowance Price Methodology")developed in accordance with the provisions of this Paragraph by the Carbon Price Consultant. No adjustments to the Flare Percentage or the Conversion Percentage shall be made under this Paragraph (i) prior to 2015, or (ii) in any month during the Term of this Agreement in which a Cap-and-Trade System has not been enacted under federal legislation in the United States. a. Emission Allowance Price Methodology. Not later than one hundred eighty days (180) before the first month in which an adjustment is made under this Paragraph 35 (00018638.DOC 24-24)