Model Project Development Agreement Page 13
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88"GHG
means the removal, limitation, reduction, avoidance, sequestration or
Reduction"
mitigation from the atmosphere of one metric ton of emissions of
greenhouse gases measured in Carbon Dioxide Equivalent.
means any unit verified and/or certified for issuance in respect of
"GHG Reduction
GHG Reductions in accordance with the International Rules,
Benefits"
whether in the Clean Development Mechanism or in the non-Clean
Development Mechanism based greenhouse gas emission reduction
market, including Certified Emission Reductions (CERs).
means glacier lake outburst flood as referred to in Section
"GLOF"
15.6.means Government of Nepal.
1.1.2
"GON"
"GON Agency"
means any national, regional, local/municipal level authority or
administrative or regulatory body or taxing authority or
quasi-judicial authority in Nepal having jurisdiction over the
Company or the Project or any action or transaction contemplated in
connection with this Agreement in Nepal.
"GON CPs"
means the conditions precedent as referred to in Section Error!
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"GON Decision"
means the GON’s decision as referred to in Section13.5.3.
"GON Default
means the GON’s default purchase price as referred to in Schedule
Purchase Price"
5.
"GON Event of
means the GON’s event of default as referred to in Section 18.2.
Default"
"Good Electricity
means the exercise of that degree of skill, diligence, prudence and
foresight that reasonably would be expected from the designers or
Industry Practice"
builders or operators of facilities for the generation and transmission
of electricity in accordance with internationally accepted best
practices in a hydropower project under conditions comparable to
those applicable to the Project, consistent with applicable Laws of
Nepal and taking into account factors such as (i) the use of the latest
hydroelectric technology, (ii) the relative size, performance, age and
technology
of
the
physical
components
of
the
Project,
(iii) contractual commitments, and (iv) the best practices, methods
and standards that are generally accepted internationally from time
to time for the purpose of ensuring the safe, efficient and economic
design, construction, commissioning, operation and maintenance of
the Project provided that such practices, methods and standards shall
be adjusted as necessary, to take account of (A) operation and
maintenance guidelines recommended by the manufacturers of the
relevant plant and equipment, (B) the requirements of applicable
Laws of Nepal, and (C) the specific conditions in existence in Nepal
and at the Project Area from time to time.
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