Forest Project definition

Forest Project means a planned set of activities designed to increase removals of CO2 from the atmosphere, or reduce or prevent emissions of CO2 to the atmosphere, through increasing and/or conserving forest carbon stocks.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Forest Project is the [Reforestation, Improved Forest Management or Avoided Conversion] project of Forest Owner that is described in the approved Forest Project Design Document.

Forest Project is the [Reforestation, Improved Forest Management or Avoided Conversion] project] of the Forest Owner that is described in the Approved Form. "Eligible CRTs" are CRTs that are: (i) in the Forest Owner’'s account with the Reserve immediately before Forest Owner Retires Eligiblesuch CRTs, (ii) issued by the Reserve to a Reforestation, Improved Forest Management or Avoided Conversion project (each as further described in the Forest Protocols) registered with the Reserve (regardless of whether such project is located on the Property or properties other than the Property) and (iii) Retired for the sole purpose of compensating the Reversal and not for any other purpose including without limitation, for the purpose of offsetting the GHG emissions of third parties. Forest Owner shall be required to purchase CRTs if Forest Owner does not have a sufficient quantity of Eligible CRTs to fulfill the Forest Owner’'s obligations to Retire Eligible CRTs under this Agreement.

Examples of Forest Project in a sentence

• Forest Owner shall not change, modify or revise the Forest Project or Baseline in any way unless the Reserve consents to such change, modification or revision.

• Any capitalized terms used herein, which are not defined herein, shall have the meanings for such terms as set forth in the Forest Project Protocols.

• This Agreement, including any exhibits attached hereto, and the Forest Project Protocols, represent the entire agreement of the Parties with respect to the Property, Forest Owner Project, this Agreement and the Forest Project Protocols and supersede any conflicting terms in any prior or contemporaneous oral or written agreements and all other communications.

• Forest Owner shall provide the Assignee with copies of the Forest Project Protocols, this Agreement and all exhibits attached hereto and any amendments thereto.

• Notwithstanding the immediately preceding sentence, nothing herein shall limit the Reserve's right to terminate, cancel, rescind or otherwise terminate this Agreement subject to the terms of this Agreement and the Forest Project Protocols.

• The Reserve also issues carbon offset credits known as Climate Reserve Tonnes ("CRTs"), as defined in the Forest Project Protocol attached hereto as Exhibit A (the "Forest Project Protocol"), to GHG Reduction Projects registered with the Reserve.

• In the event that any definitions, terms and provisions in this Agreement conflict with the definitions, terms and provisions in the Forest Project Protocols, the definitions, terms and provisions in this Agreement shall govern.

• If any portion of this Agreement or the Forest Project Protocols, or the application thereof to any person or circumstance, is found invalid, the remainder of the provisions of this Agreement and the Forest Project Protocols, or the application of such provisions to persons or circumstances other than those as to which it is found to be invalid shall not be affected.

• Notwithstanding any other terms in this Agreement or the Forest Project Protocols, nothing in this Agreement or the Forest Project Protocols shall give Forest Owner any right to, ownership of or control over the Reserve's Buffer Pool.

• Forest Owner shall ensure that the Forest Project complies with all aspects of this Agreement and the Forest Protocols.

More Definitions of Forest Project

Forest Project means development, improvement, property, construction, reclamation or conservation of land for the purpose of conserving and developing urban forests and grasslands, and shall include, without limitation, the forestation and reforestation of land, the cultivation, planting, maintenance, irrigation, the planting and maintenance of trees, grasses and plants of any kind or such projects, including without limitation, roads, parking facilities, bridges, culverts, signs, lights, facilities for the maintenance of vehicles and equipment, picnic facilities, pedestrian and bicycle paths, sidewalks, restrooms, water supply and wastewater treatment and disposal facilities for such projects; the development and maintenance of forests and grasses at the margin of and within lakes, rivers, ponds, bayous, bays, wetlands and estuaries or the development and maintenance of forest and planted areas on public property or private property, including road, highway and street rights‑of‑way, easements, reservoirs, detention basins, reclaimed lands, landfills or abandoned railroad rights‑of‑way and the acquisition, by purchase or otherwise, of real property in connection with any forest project.

Forest Project is the [Reforestation, Improved Forest Management or Avoided Conversion] project] of Forest Owner that is described in the Approved Form. "Eligible CRTs" are CRTs that are: (i) in Forest Owner's account with the Reserve immediately before Forest Owner Retires such CRTs, (ii) issued by the Reserve to a Reforestation, Improved Forest Management or Avoided Conversion project (each as further described in the Forest Protocols) registered with the Reserve (regardless of whether such project is located on the Property or properties other than the Property) and (iii) Retired for the sole purpose of 2 [Note: This provision may need to be modified by the Reserve, depending on the nature of the ownership rights of the Forest Owner. See footnote 1. Furthermore, only the property that is subject to this Agreement will be described in Exhibit 1.] compensating the Reversal and not for any other purpose including without limitation, for the purpose of offsetting the GHG emissions of third parties. Forest Owner shall be required to purchase CRTs if Forest Owner does not have a sufficient quantity of Eligible CRTs to fulfill Forest Owner's obligations to Retire Eligible CRTs under this Agreement.

Forest Project means a planned set of activities designed to increase removals of CO2 from the atmosphere through increasing forest carbon stocks.