Compliance Instruments definition

Compliance Instruments means any benefits, attributes, instruments, tracking mechanisms, or rights associated with the generation of one (1) MWh of Energy from a source of renewable energy, as that is defined in a RPS, which may be created distinct from Environmental Attributes and transferred in the form of a certificate, credit, allowance or other indicia of ownership in accordance with and for the purposes of recording compliance with a RPS obligation.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Compliance Instruments means an instrument, issued by one of the Parties, that can be used by a covered entity or a voluntary participant to fulfill a compliance obligation and having a value corresponding to the emission of one metric ton of CO2 equivalent greenhouse gas;

Compliance Instruments has the meaning set forth in the Cap-and-Trade Regulations referring to allowances, CARB approved offsets or credits used to fulfill a Compliance Obligation.

Examples of Compliance Instruments in a sentence

• Buyer, in its sole discretion, may satisfy its obligation to compensate Seller towards Seller’s AB 32 Carbon Dioxide Costs either financially through the Carbon Dioxide Emissions Payment or physically through the transfer of Compliance Instruments (individually and/or collectively “AB 32 Compensation”).

• Without limiting the prior sentence, if the failure to accept or confirm the Compliance Instruments is caused solely by an error or omission of CARB or its agents, the Parties shall cooperate to cause CARB or its agent to correct the error or omission.

• Buyer shall not be obligated to pay or reimburse Seller for any costs, fees or penalties incurred or assessed by Seller resulting from such invalidated Compliance Instruments.

• In the event that the Compliance Instruments are not confirmed into Seller’s Holding Account according to the Cap-and-Trade Regulations due to the fault of any party other than Buyer or its designated third party account holder, Buyer shall be deemed to have compensated Seller towards its AB 32 Carbon Dioxide Costs and Buyer shall not be obligated to further attempt to transfer such Compliance Instruments.

• At any time following an election to physically compensate Seller towards its AB 32 Carbon Dioxide Costs, Buyer may elect to financially compensate Seller upon sixty (60) days’ Notice, in which case the provisions relating to financial compensation towards AB 32 Carbon Dioxide Costs in Section 9.3(a)(i) shall apply and Buyer shall no longer be obligated to directly transfer Compliance Instruments pursuant to this Section 9.3.

• GHG Prices shall be calculated by Buyer based on available market-based quotes for the least-cost combination of allowed GHG Compliance Instruments taking into consideration the allowed percentage of a given GHG Compliance Instrument from a given vintage year as permitted by CARB at the time of calculation to fulfill Seller’s GHG Compliance Obligations with respect to Buyer’s Carbon Dioxide Emissions.

• Each Participant providing direction to NCPA to purchase Compliance Instruments warrants the authority of the person executing such direction on such Participant's behalf, and NCPA shall be entitled to fully rely upon the authority of such person irrespective of whether such direction may be in contravention of any regulations, procedures, protocols or rules applicable to such Participant.

• Each Participant shall be responsible for its GES of all costs incurred by NCPA attributable to the Project in complying with Cap-and- Trade, including costs incurred in obtaining Compliance Instruments that the NCPA General Manager may acquire or purchase as provided in Agreement Schedule 11.00, as may be amended from time to time.

• NCPA will treat any such Participant directions to purchase Compliance Instruments as confidential to the extent allowed by law.

• NCPA shall establish procedures in Agreement Schedule 11.00, as may be amended from time to time, for accurate and timely accounting of the Project’s share of NCPA’s total Compliance Obligations and Compliance Instruments.

More Definitions of Compliance Instruments

Compliance Instruments means an instrument, such as an emission allowance (California program regulations) or emission unit (Québec program regulations), offset credit and early reduction credit, issued by one of the Parties that can be used by a covered entity or an emitter to fulfill a compliance obligation and having a value corresponding to one metric ton of CO2 equivalent greenhouse gas;

Compliance Instruments means any benefits, attributes, instruments, tracking mechanisms, or rights associated with the generation of one (1) MWh of Energy from a source of renewable energy, as that is defined in an RPS, which may be created distinct from Green Attributes and transferred in the form of a certificate, credit, allowance or other indication of ownership in accordance with and for the purposes of recording compliance with an RPS obligation, including but not limited to, WREGIS Certificates.

Compliance Instruments means the technical rules, the WA Electrical Requirements, the WA Distribution Connection Manual and AS/NZS 3000:2007 Electrical Installations.