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Environmental Products Purchase and Sale Agreement (RECs and Carbon Offsets)
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Environmental Products Purchase and Sale Agreement (RECs and Carbon Offsets) - attorney-drafted template. Party names and deal-specific details have been replaced with neutral placeholders. Review before use.
IN WITNESS WHEREOF, the parties understand and agree to be bound by the above and to the Terms and Conditions as set forth in this Agreement and and any Exhibits attached hereto.
PURCHASE AND SALE. [SELLER NAME](“Seller” or “Seller”) agrees to sell and Buyer identified above agrees to purchase Environmental Products as described within a Purchase and Sale Agreement together (if applicable) with the Buyer’s purchase order (accepted for invoicing purposes only and expressly excluding any terms and conditions therein), attached hereto and/or incorporated herein by reference (collectively, the “Agreement”) under the terms and conditions described herein. Neither party will represent that the other has endorsed any of its products or services. The consents in this term may be revoked at any time upon written notice. Pricing shall be kept confidential for a period of three (3) years.
DEFINITIONS. The following capitalized terms have the following meanings in this Agreement:
“Applicable Standard” means the international, state, federal, mandatory or voluntary standard(s) or set of rules specified in the Agreement which must be met by the Environmental Product to be delivered to Buyer.
“Attestation Form” as it applies to Green-e® Energy Certified RECs, shall mean the Green-e® Energy Renewable Attestation from Wholesale Provider of Renewable Energy Certificates. A similar document issued by Seller shall be used for Carbon Offset and other REC Deliveries where the Applicable Standard is not Green-e® Energy or Climate.
“Carbon Offset” means an instrument that represents reduction or removal of one metric ton of carbon dioxide or carbon dioxide equivalent (MtCO2e) measured and verified against the requirements of the Applicable Standard.
”Delivery” means completion by Seller of its obligations under Section 5(a) or (b).
“Environmental Product” means the product(s) identified in the “Environmental Product” field of this Agreement, including, but not limited to RECs, Carbon Offsets, I-RECs, Guaranty of Origin (GOs), Japanese GECs or J-Credits, Australian LGC, TIGRs, South African ZaRECs, and UK REGOs, each as defined by the relevant Applicable Standard.
“Renewable Energy Certificate” or “REC” means the non-energy attributes associated with one megawatt hour (“MWh”) of energy as defined under the Applicable Standard.
“Reporting Year” means a year or other period of time specified by the Applicable Standard toward which eligible Environmental Products may be applied or claimed. For Green-e® Energy and Climate transactions, this is also the auditing year in which Seller will have the Delivered Environmental Product certified.
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Environmental Products Purchase and Sale Agreement (RECs and Carbon Offsets)
General Agreements