Sale of Credits Sample Clauses

Sale of Credits. All activities regulated under Section 10 of the Rivers and Harbors Act, Section 404 of the Clean Water Act and other activities as the Corps may authorize consistent with this Instrument may be eligible to use the ILF Program as compensatory mitigation for unavoidable impacts. Credits purchased may only be used in conjunction with a Corps permit authorization, resolution of an unauthorized activity, or in conjunction with other actions as the Corps may authorize. The District Engineer will make decisions about the appropriate compensatory mitigation on a permit case-by-case basis, during evaluation of a Corps permit application. Authority for approving use of the ILF Program for compensatory mitigation lies with the District Engineer. The responsibility to provide compensatory mitigation remains with the applicant/permittee unless and until credits are purchased from the ILF Program. Upon Corps approval of purchase of credits from the ILF Program, the permittee may contact MARS to secure the necessary amount and resource type of credits, as outlined in Corps permit conditions. Each Section 404 authorization that includes a special condition allowing purchase of credits from the ILF Program will include a requirement that MARS certify the transfer of responsibility via a Statement of Sale of Credit letter to the permittee and the Corps (Exhibit D). Certifications will outline the Corps permit number and state the number and resource type of credits that have been sold to the permittee. A copy of each certificate will be retained in the administrative and accounting records for the ILF Program Instrument. Debits will be reflected in annual accounting reports as outlined in Section VII.
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Sale of Credits. Upon the execution of this Agreement, the Buyer shall pay the Seller for the Credits that may be applied in year one of this Agreement as described in Exhibit A with an initial payment within days and subsequent payments on or before . For every year of this Agreement following the initial year, the Parties agree, on or before , the Buyer shall pay the Seller the total amount due for the Credits that may be applied in that year of the Agreement as described in Exhibit A. Buyer and Seller understand that at the time of the Seller’s credit certification, a reserve ratio of 5% was applied to the total number of generated credits to create a reserve pool of credits that may be used by the State in accordance with COMAR 26.08.11.08(C)(3).
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Sale of Credits. Upon authorization of the wetland mitigation bank through the issuance of a DA permit and/or interagency agreement, the sale of wetland credits and the creation or restoration of wetlands and buffers may commence. The Wetland mitigation bank credits may be sold for compensatory mitigation purposes in accordance with the following conditions:
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Sale of Credits. Grantor agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
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Sale of Credits. Provider is selling credits that will be redeemable for Sessions (“Credits”) to Customer and Customer shall assign those Credits to their Students. The Students may redeem each Credit they are assigned in exchange for (1) Session of the Services by Provider or its affiliates. Credits may only be redeemed in exchange for Sessions of the Service, have no cash value, and are non-refundable. Students will not be permitted to redeem the Credits without agreeing to the Provider’s standard terms and conditions governing the Service.
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Sale of Credits. Xxxxxxx agrees to sell to BWSR, and BWSR agrees to purchase from Grantor, (amount) of (type) wetland bank credits (“Credits”).
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Sale of Credits 
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Related to Sale of Credits

  • Advance of Credits 33.3.1 When an employee has insufficient credits to cover the granting of sick leave with pay under the provisions of clause 33.2, sick leave with pay may, at the discretion of the Council, be granted

  • Application of credit balances Each Creditor Party may without prior notice:

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Transfer of Credits A. The receiving institution will accept 60 credits from the sending program. A total of 62 credits remain to complete the receiving program.

  • Use of Credit Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that prior thereto Lender shall have received all of the documents set forth below in form and substance satisfactory to Lender.

  • Revolving Line of Credit (a) On the Closing Date, Lender agrees to open a Revolving Line of Credit in favor of Borrower in the maximum aggregate principal amount of Ten Million Dollars ($10,000,000), reducing to Five Million Dollars ($5,000,000), effective on December 31, 1997. Subject to the fulfillment of the conditions precedent set forth in Sections 13.1 and 13.3 hereof, during the period commencing on the Closing Date and ending on the earliest to occur of (i) the Termination Date and (ii) the date of -------- termination of the Revolving Line of Credit pursuant to Section 2.6 or Section 11 below, Borrower may borrow and repay and reborrow up to a maximum aggregate principal amount of the Revolving Line of Credit; provided, however, that (A) ----------------- each Revolving Advance must be in the amount of One Hundred Thousand Dollars ($100,000) or an integral multiple thereof, (B) Revolving Advances will be made by Lender to Borrower only on the first and the fifteenth of each calendar month (or, in each instance, the next succeeding Business Day, as the case may be), (C) any Revolving Advances constituting LIBOR Rate Borrowings must be obtained and paid in accordance with Section 2.4 below, and (D) repayments of Revolving Advances shall be made in accordance with Section 2.6(a) below; and, provided, --------- further, that at no time shall the aggregate principal amount outstanding under ------- the Revolving Line of Credit exceed the Margin (such requirement being referred to herein as the "MARGIN REQUIREMENT"). If at any time hereafter the Margin ------------------ Requirement is not satisfied, Borrower agrees to repay immediately the then principal balance of the Revolving Note by that amount necessary to satisfy the Margin Requirement.

  • All Credit Extensions The obligation of each Lender and each Issuer to make any Credit Extension shall be subject to the satisfaction of each of the conditions precedent set forth below.

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

  • Initial Credit Extension The obligations of the Lenders and, if applicable, the Issuer to fund the initial Credit Extension shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 5.1.

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