Agenda - 12-01-2008 - 3c - Laserfiche WebLink

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28 W.~REAS, The County and the University desire to cooperate in the design, installation, and operation of the LFG Project because of the project's environmental, public, and economic benefits. NOW, THEREFORE, in consideration of the mutual agreements, representations, warranties, and covenants contained in this Agreement, and o ;., e r good and valuable } consideration, the receipt of which is hereby acknowledged, the P,_, ~_,e~s hereby agree as follows: ARTICLE I ~~~i( ` ~ ~ , . ~~ I~EFINiTIONS ~ "-'~ ~ ~. 1. Adjusted BTU Equivalent Price means (a) in 2010, $9.00 per ~? ~~,,~ ' tu, and (b) each calendar year during the Term of the Agreement thereafter, $9.00 per MMBtu as adjusted upward on an annual, compounding bas " kn ~.~t~vvo ercent (2%). The Adjusted BTU Equivalent Prices are set forth on ExhibitA to this Agr~ment: ~ ~ ~,k 2. Approvals shall mean the L~C'Pro~ect e"rmits, easements, rights-of--way, consents, authorizations and other approvals that~ay be necessary for the University to install, construct, operate maintain and repair the LFG Project. .."~ Average ,~ilowance Market Price means the average monthly market price in .:~~ ~ ,,~~=~, j:t ~ wxn ,~ ~~,a U.S: dol~ ",~~14 ~ as determined ~~~ the methodology established by the Carbon Price Consultant in ,,; .~V~:=u it 5 accordance wi ~ ~:~~.~'~ra~ra~h 12~3~ of this Agreement, attributed to one Emission Allowance created ~~ ~ '~~; r under federal legs ~~.et~,u~,~-ihe United States enacting aCap-and-Trade System to regulate GHG emissions. 4. BTU shall mean British Thermal Unit. 5. BTU Equivalent Price shall be determined monthly in advance as the Transco, zone 3 Pricing Point "midpoint" settlement price for natural gas published in the report named "Monthly Gas Price Assessments -Inside FERC" published by McGraw Hill Company. The 5 {00018638.DOC 16}