Agenda - 12-11-2008 - 3a - Laserfiche WebLink

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58 the County's payments under the following circumstances as set forth in Pazagraphs 123-126 hereunder: (a) beginning in 2015 and in each yeaz thereafter during the Term the Agreement, to reflect certain differences that may arise between the Average Allowance Market Prices for such yeazs and the Forecasted Cazbon 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 (th~Adjiistment for Other Environmental ~~~ ~~ ~~ Benefits"). The Parties shall jointly retain the Ca~bc~n:~Price resultant, beginning on or about ~~ the date that the flare becomes operational, and the~P~a~.es shall shaze equally all fees and expenses payable to the Cazbon Price Consultant. ,3='?~ 123. Emission Allowance Price Adjustment. The Partie~'acknowledge that the Flare and Conversion Prices set forth on to this Paragraph shall be the Forecasted Carbon Prices the Average Allowance Mazket Prices and to a methodology (the "Emission Allowance Price Methodology") developed in ~ecbrdance with the provisions of this Pazagraph by the Carbon Price Consultant. No adjustments to the Flare Percentage or the Conversion Percentage shall be made (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 123, the Parties shall direct the Carbon Price Consultant to develop a 35 been established, in part, based on the Forecasted Carbon ustment in the Flare and Conversion Percentages pursuant {00018638.DOC 16}