GHG EMISSION REDUCTION UNITS. Means all rights, benefits, title and interest related, in whole or in part, to GHG Emission Reductions, or derivatives thereof, including futures contracts and options on futures contracts involving GHG Emission Reduction Units, whether in existence as of the date of this Agreement or arising in the future, without limitation: 1.17.1 any credit issued or granted by a Government Agency in connection with GHG Emission Reductions; 1.17.2 any tradable allowance or
... allocated pollution right issued or granted in connection with GHG Emission Reductions; 1.17.3 the sole right to claim credit in any reporting program established or maintained by any Government Agency for creation of GHG Emission Reductions; 1.17.4 the sole right to bank GHG Emission Reductions in any registry system established or maintained by any Government Agency or non-governmental organization or entity (a "GHG Emission Reductions Registry"); 1.17.5 the sole right to any form of acknowledgment by a Governmental Agency that actions have been taken by a party or parties in connection with GHG Emission Reductions that result in the reduction, avoidance, sequestration or mitigation of GHG Emissions; 1.17.6 the sole right to use GHG Emission Reductions; 1.17.7 the sole right to any form of acknowledgment by a Government Agency to claim reduction from an emissions baseline when that baseline can be used for establishing a tradable GHG Emission allowance allocation, and that beneficial ownership in this reduction, avoidance, sequestration or mitigation or related tradable allowances can be; 1.17.8 banked for credit in the event of regulation requiring a party to reduce, avoid, compensate for or otherwise mitigate GHG Emissions; 1.17.9 claimed by a party for credit against that party's compliance requirement; 1.17.10 put to any other sanctioned use; or 3 1.17.11 transferred to another party for any reason; 1.17.12 the sole right to any form of acknowledgment by an International Agency in respect of GHG Emission Reductions including that the GHG Emission Reductions constitute tradable emissions reduction units; and 1.17.13 the sole right to any offset of anthropogenic GHG Emissions caused wholly or in part by the GHG Emission Reductions.
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