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PES Contract Clauses > Recitals Example 1

RECITALS

  1. The Seller Representative and participating members of the Ecosystem Service Provider Community (“Participating Landholders”) are party to an agreement dated June 1, 2010, concerning the authority of the Seller Representative to represent the Participating Landholders with respect to forest carbon transactions on land under the control of the Participating Landholders.
  2. Participating Landholders wish to undertake land management activities in order to reduce emissions from deforestation and degradation and enhance carbon sequestration in forests under their control (the “Project”).
  3. The Buyer wishes to pay Participating Landholders, via the Seller Representative, for the right to claim credit for emission reductions or additional sequestration generated by the land management activities of Participating Landholders.

The parties therefore agree as follows:


Context of this Clause:

  • Forward purchase agreement
  • Ecosystem service: forest carbon emission reductions
  • Numerous sellers (Participating Landholders) are represented by an individual (the Seller Representative)

About: Recitals


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