Greenhouse Gas: means carbon dioxide (CO2), methane (CH4), nitrous oxide (N20), hydrofluorocarbons, perfluorocarbons, sulphur hexafluoride, or any other substances or combination of substances that may become regulated or designated as Greenhouse Gases under any federal, state or local law or regulation, or any emission reduction registry, trading system, or reporting or reduction program for Greenhouse Gas emission reductions that is established, certified, maintained, or recognized by any international, governmental (including U.N., federal, state, or local agencies), or non-governmental agency from time to time, in each case measured in increments of one metric tonne of carbon dioxide equivalent.
Green Premium: means the RINs Resale Price and LCFS Credits Resale Price and any other costs incurred by Buyer, including without limitation, fines and/or penalties, which are directly related to Biogas purchased hereunder by Buyer which later becomes classified as Disqualified Biogas.
Lifecycle Greenhouse Gas Emissions: means the aggregate quantity of Greenhouse Gas emissions (including direct emissions and significant indirect emissions from land use changes), as determined by the EPA RFS or CARB, related to the full fuel lifecycle, including all stages of fuel and feedstock production and distribution, from feedstock generation or extraction through the distribution and delivery and use of the finished fuel to the ultimate consumer, where the mass values for all greenhouse gases are adjusted to account for their relative global warming potential.
Low Carbon Fuel Standard Credits or LCFS Credits or LCFS: means credits generated and traded under the California Air Resources Board Low Carbon Fuel Standard, with each credit equal to one metric tonne of Carbon Dioxide reductions as compared to the baseline CO2 emissions under the Low Carbon Fuel Standard.
Project: means Sellers landfill Biogas production project owned and operated by Seller at the Atascocita Landfill in Humble, TX.
Quality Assurance Plan (QAP): means a voluntary RIN validity program under the EPA RFS established by the Environmental Protection Agency and published on July 18, 2014 (at 79 Fed. Reg. 42078) and which became effective on September 16, 2014.
Renewable Biogas or RNG or Biogas: means quantities, measured in MMBtus, of processed biogas that: (i) meets the pipeline quality standards for pipeline gas agreed to between Seller and the owner of the pipeline into which such gas is delivered by Seller and which is eligible to generate D Code 3 Renewable Index Numbers under the Federal Renewable Fuel Standard when used as a Vehicle Fuel (or any other D Code RINs if the EPA determines that Renewable Biogas creates a different code of RIN); and (ii) contains all the environmental attributes associated with the use of a pipeline quality biogas-derived fuel as a Vehicle Fuel, including any credits or environmental commodities related to the reduction of Greenhouse Gas emissions.
Renewable Identification Number (RIN) is a number generated to represent a volume of renewable fuel as set forth in Regulation of Fuels and Fuel Additives: Changes to Renewable Fuel Standard Program, 75 Fed. Reg. 16484 (March 26, 2010) (codified at 40 C.F.R. § 80.1425 (2011); 40 C.F.R. §§ 80.1426 (2012)).
Vehicle Fuel: means compressed natural gas (CNG) or liquefied natural gas (LNG) used in transportation vehicles.
(2) CONDITIONS PRECEDENT
The obligations of Seller and Buyer under this Transaction Confirmation are subject to Seller obtaining a company and facility identification number from the EPA for its Project to generate RINs with a D Code of 3 under the Renewable Fuel Standard Phase II (or any other D Code RIN if the EPA determines that Renewable Biogas creates a different code of RIN) (the Conditions Precedent) when the Biogas is used as a Vehicle Fuel. In the event Seller, with Buyers reasonable cooperation and assistance, is unable to satisfy the Conditions Precedent by [***], either party shall be entitled to terminate this Transaction Confirmation immediately upon written notice to the other party without incurring any liability. Buyer agrees to provide to Weaver such data, fueling station information, pathway details and any other information required by the EPA to file the application for registration described above.