ERC(s) definition
ERC(s) means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.
ERC(s) mean any and all aspects, claims, characteristics or benefits related to the production, use, capture, flaring, burning, fueling, storage or sequestration of CBM and CMM produced from the lands containing the Oil and Gas Interests that are capable of being measured, verified or calculated, and which can produce credits, benefits, offsets, reductions, or allowances, howsoever entitled, or are otherwise capable of being recognized under an Applicable Program. Without limiting the generality of the foregoing, ERCs include those environmental or greenhouse gas emission reduction credits or allowances based on the production, sale, use or flaring of CBM or CMM produced from the lands containing the Oil and Gas Interests in lieu of venting such CBM or CMM to the atmosphere or otherwise disposing of or using such gases, resulting in the voluntary reduction in emissions to levels of control recognized by an Applicable Program. ERCs also include any action relating to CBM or CMM produced from the lands containing the Oil and Gas Interests that would be recognized as beneficial or of value in the event that any Governmental Authority imposes any tax, levy surcharge or other imposition on emissions of air pollutants, including greenhouse gases, or on products or services that are related to such emissions, including, without limitation, any “carbon tax.”
ERC(s) has the meaning set forth in Section 7.5.
More Definitions of ERC(s)
ERC(s). (an acronym for emission reduction credits) means any and all credits, attributes, benefits, offsets, reductions, rights (including registration, trading and recording rights), or indicia, however entitled, for or relating to the reduction, mitigation or control of greenhouse gas emissions, including, without limitation, carbon dioxide, methane, nitrous oxide, perfluoro-carbons, hydro fluorocarbons, sulphur hexafluoride or other gas, matter or substance; provided, however, the foregoing must directly or indirectly arise out of or be related to the Capture, or the flaring, burning, destruction or sequestration, of Coal Gas (including, without limitation, ventilation air methane) in respect of Coal Gas that now or hereafter qualifies for recognition by or under any domestic, international or foreign emissions reduction or emissions quantification, certification or reporting program, scheme or organization or law, statute, regulation or order, adopted by a Governmental Authority or otherwise, or other similar program, public or private, whether existing now or in the future, whether mandatory or voluntary, including without limitation any program under which any direct or indirect benefit is given for reduction in greenhouse gas emissions with respect to such Coal Gas (each, an “ERC Program”) (an ERC Program or REC Program, a “Program”). “ERCs” do not include Allowances.
ERC(s) do not include Allowances.
ERC(s) means Emission Reduction Credits, as described in ---- California Health and Safety Code Section 40709, et seq. -- ---
ERC(s) is defined in Section 5.5(a).
ERC(s) means the State electricity regulatory commission/s established pursuant to Section 82 of the Guarantor’s Electricity Act, 2003 (Act No. 36 of 2003), or its successors thereto.
ERC(s) has the meaning set forth in Section 11.5.
ERC(s) means instruments with financial value and tradable under local or international regulated trading regimes, such credits representing a net reduction in emissions to the environment as a result of the Project, which includes the Biofuels Facility and related operations. ERC’s include, but are not limited to, reductions in carbon emissions to atmosphere;