2009-004 Solid Waste - UNC - Landfill Gas Agreement

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118. The University shall continuously monitor the LFG at Meter Points A and B, and such LFG will be measured, recorded, and totalized on an hourly, daily and monthly basis. The heating energy content of the LFG delivered to the Gas Conversion System shall be based on its measured monthly methane content at Meter Point A. The methane content shall be measured in SCFhnonth and shall be equal to the product of (a) the percent methane by volume, and (b) the LFG measured in SCF/month at Meter Point A (the "Meter Point A Methane Content"). For purposes of determining the Conversion Payment, the total monthly heating energy content of the LFG measured at Meter Point A (the "Conversion MMBTU HHV") shall be obtained by dividing the product of (a) the Meter Point A Methane Content, and (b) 1,012, by 1,000,000. Expressed in a fornula, the Conversion MMBTU HHV =Meter Point A Methane Content x 1012 - 1,000,000. 119. For a given month during the Tern of this Agreement, the Conversion Payment shall be equal to the product of (a) the Conversion Percentage, as such percentage may be adjusted in accordance with Subpart E of this Article VII, and (b) the product obtained by multiplying (i) the Conversion MMBTU HHV for such month by (ii) the lesser of the BTU Equivalent Price or the Adjusted BTU Equivalent Price. Expressed in a foi7nula, the County's monthly Conversion Payment = 0.166 (as maybe adjusted) x Conversion MMBTU HHV x BTU Equivalent Price or Adjusted BTU Equivalent Price, whichever is less. A sample calculation of the Conversion Pa}nnent is shown in Exhibit F. 120. The Parties recognize that the regulations, policies and procedures governing reductions in GHG emissions and associated markets for Envirorunental Benefits, including 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 Enviromnental 34