ERPA V2英文.docx

ERPA V2英文.docx

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ERPAV2英文

CertifiedEmissionReductionsSaleandPurchaseAgreement

（CERSPAtemplate）

Version2.0

September2009

ThistemplateagreementhasbeendevelopedbyaninternationalgroupoflawyersandCDMexperts.ItisintendedtobeastartingpointfordiscussingthesaleandpurchaseofCertifiedEmissionReductions.ItisaccompaniedbyaGuidanceDocumentthatprovidescommentaryandalternatedraftingoptionsforeacharticle.

TheCERSPAandGuidanceDocumentarepubliclyavailablelivingdocumentsandwillbeexpandedandupdatedastheCDM’sregulationsevolveandusersandreviewersprovidefeedback,draftingsuggestions,andadditionaltermsandconditionsasrequired.ThepresentcorrespondstothesecondversionoftheCERSPAtemplate.

TheCERSPAandGuidanceDocumentarenotintendedtobeadefinitiveexplanationofeverywaytodraftaCERsaleandpurchaseagreement.OtherdraftingalternativesexistthatarenotpresentedintheCERSPAordiscussedinthisGuidanceDocument.

Weencourageusersandreviewerstoprovidetheirinputsandcommentsatwww.cerspa.orgortotheSecretariatfortheCERSPAInitiativedirectly.

TheCERSPAInitiativeismainlysponsoredbytheINTER-AMERICANINVESTMENTCORPORATION（IIC）, a memberoftheGroupoftheInter-AmericanDevelopmentBank.Fundingforthis Initiativewaskindlyprovidedbythe GovernmentoftheRepublicof Korea,throughtheKorea-IICSMEDevelopmentTrustFund,andbythe SwissStateSecretariatforEconomicAffairs（SECO）,throughtheIDBTechnicalCooperationTrustFundforConsultingServicesandTrainingActivities.TheGermanMinistryofEconomicofCooperationandDevelopment（BMZ）supportstheCERSPAInitiativeandwillengageinsupportingregionalworkshopstodisseminateitsobjectives.Acompletelistofsponsorsandparticipantsisincludedoverleaf.

Disclaimer:

TheCERSPAtemplateagreementandtheGuidanceDocumentreflectsthepersonalviewsofthecontributingauthorsonly,anddonotnecessarilyreflecttheviewsoropinionsofanyorganizationtheymaybeassociatedwith.Theydonotconstituteorsubstituteforlegaladviceandnoneofthecontributingauthorscanbeheldliableforanymistakesorinaccuraciestheymaycontain.AnypersonusingtheCERSPAtemplateagreementorGuidanceDocumentdoessoattheirownrisk.ExpertlegaladviceshouldbesoughtpriortousinganypartoftheCERSPAorGuidanceDocument.

MainSponsor:

Inter-AmericanInvestmentCorporation

KOREA-IIC

SMEDevelopment

TrustFund

Theinitiativeiscoordinatedby:

ClimateFocus（TheNetherlands）

LeeInternational（USA）

Additionalsupporthasbeenprovidedby:

GermanMinistryofEconomicofCooperationandDevelopment（BMZ）

CorporaciónAndinadeFomento

MallesonsStephenJacques

SiqueiraCastroAdvogados（Brazil）

MGMInternational（USA）

JunHeLawOffices（China）

SpecialthankstoChristianaFigueresandNell-GarwoodGarvey.

CERTIFIEDEMISSIONREDUCTIONS

SALEANDPURCHASEAGREEMENT

Between

[nameCERSeller]

And

[nameCERBuyer]

CERTIFIEDEMISSIONREDUCTIONSSALEANDPURCHASEAGREEMENT

ThisCertifiedEmissionReductionsSaleandPurchaseAgreement（hereinaftertheAgreement）,dated[insertdate]isenteredinto

BETWEEN:

[insertfullnameofCERSeller][a/the][company/municipality/][incorporatedin/establishedin/of][insertcountry],registeredunder[insertdetails]whoseregisteredofficeislocatedat[insertlocation]（hereinaftertheSeller）;and

[insertfullnameofCERBuyer],[a/the][company/fund/financialinstitution][incorporatedin/of][insertcountry],registeredunder[insertdetails]whoseregisteredofficeislocatedat[insertlocation]（hereinaftertheBuyer）.

WHEREAS,[insertnameoftheHostCountry]hasratifiedtheUNFCCCon[insertdate]andhas[ratifiedon/accededto]theKyotoProtocolon[insertdate];and

WHEREAS,theSellerintendstocarryoutthe[insertname]Project,whichisdefinedinAnnex1,asaprojectundertheCleanDevelopmentMechanismoftheKyotoProtocol,whichisexpectedtoresultinreductioningreenhousegasemissionsthatareadditionaltoanythatwouldoccurintheabsenceoftheProject;and

WHEREAS,theSellerwishestosell,andtheBuyerwishestopurchaseCertifiedEmissionReductionsandPost-2012EmissionReductionsfromtheProjectuponthetermsandconditionsinthisAgreement;

NOWTHEREFORE,thePartiesherebyagreeasfollows:

ArticleI

Interpretations

1.01Interpretation;Headings;Annexes

InthisAgreementunlessspecificallystatedotherwise,areferenceto:

anyPartyincludesthatParty'sexecutors,administrators,successorsandpermittedassigns,includingwithoutlimitationanypersonwhoisaPartytothisAgreementbywayofnovation;and

thesingularincludesthepluralandviceversa;and

thewords“including”,“include”or“includes”whenintroducinganexampledonotlimitthemeaningofthewordstowhichtheexamplerelatestothatexampleorexamplesofasimilarkind;and

anyInternationalRulesincludesanymodificationorre-enactmentofthemoranytreatysubstitutedforthemandallrules,modalities,guidelines,procedures,decisions,andregulations（howeverdescribed）issuedunderthem.

Theexpression“person”includesanynaturaland/orlegalperson.

ThetermsofthisAgreementshallbeinterpretedinamannerthatisconsistentwiththeKyotoProtocolRules.

TheAnnexestothisAgreementareanintegralparthereof.

TheheadingsoftheclausesareinsertedforconvenienceofreferenceonlyanddonotaffecttheinterpretationofthisAgreement.

Definitions

ThecapitalizedtermsusedinthisAgreementshallhavethemeaningsexpresslysetforthinthebodyofthisAgreementandinAnnex2tothisAgreement.

EffectiveDate

ThisAgreementshalltakeeffectuponexecutionbybothParties,exceptasotherwiseprovidedherein.

ArticleI

ConditionsPrecedent

ConditionsPrecedent

Theprovisionsof:

ArticleIII（SaleandPurchaseofCertifiedEmissionReductions）;Clauses4.01（DeliveryObligation）,4.02（EffectingDeliveryofContractCERs）,4.03（EffectingDeliveryofPost-2012ERs）,and4.06（TaxesandShareofProceeds）;Clauses5.01（a）-（b）（Seller’sObligations）and5.02（a）-（b）（Buyer’sObligations）;Clause6.02（a）（ii）（Seller’sRepresentationsandWarranties）;Clauses10.01（b）-（c）（EventsofDefault）;andClause11.01（TerminationonFulfilment）areconditionaluponeachofthefollowingConditionsPrecedentoccurringinrelationtotheProject:

theProjecthavingachievedRegistration;and

theProjecthavingachievedProjectCommissioning.

The[Seller/Parties]shalluseallreasonableendeavourstoprocuresatisfactionoftheConditionsPrecedentingoodfaithassoonaspracticablefollowingtheexecutionofthisAgreement.

TheBuyershalluseallreasonableendeavourstoassisttheSellertoachieveRegistration.

DateforFulfillingConditions

UnlessotherwiseagreedtoinwritingbytheParties,eitherPartyhastherighttoterminatethisAgreementwithoutliabilitytotheotherPartyiftheConditionsPrecedentarenotmetby[insertdate].

NotificationsRegardingConditionsPrecedent

TheSellershallsendawrittennoticetotheBuyerassoonas:

aConditionPrecedenthasbeenfulfilled;or

theSellerbecomesawareorhasreasontobelievethatitshallnotmeetthedeadlineforfulfillingaConditionPrecedent.

ArticleII

SaleandPurchaseofCertifiedEmissionReductions

SaleandPurchase

（a）TheSelleragreestosellandtheBuyeragreestopurchasetheTotalContractVolume,whichamountsto:

theContractedCERs[;and

thePost-2012ERs],

[netofanyTaxesandShareofProceeds.]

PriceandPayment

TheBuyershallpaytotheSelleraUnitPriceof:

[EUR/USDX]or[whichshallequalx%oftheSpotPrice]or[whichshallequalEUR/USDXplusx%oftheSpotPrice]or[whichshallequalx%oftheSpotPrice（excepttheminimumUnitPriceshallbeXXandthemaximumUnitPriceshallbeYY）]foreachContractedCER[andPost-2012ER]Deliveredinaccordancewithclause4.02[andclause4.03,respectively].

TheBuyershallmaketheAnnualPayment[netofallTaxes]totheSellerwithin[insertnumber]BusinessDaysafter:

DeliveryoftheContractedCERs[orPost-2012ERs,asapplicable,]forthatYear;and

receiptofaninvoicefromtheSellerfortheAnnualPayment.

Bankfeesandchargesshallbeborneby[theSeller/theBuyer/bothPartiesinequalshares/eachPartyforthefeesandchargesofthebanksandintermediarybanksinvolvedbysuchParty.]

TheAnnualPaymentshallbecalculatedasthe[relevant]UnitPricemultipliedbytheContractedCERs[orPost2012ERs,asapplicable,]DeliveredforthatYear[less（i）ProjectDevelopmentCostsincurredbytheBuyerinaccordancewithclause4.04and;（ii）providedthattheAdvancePaymenthasbeenmadebytheBuyerpursuanttoclause4.05,anamountinrespectoftheAdvancePaymentinaccordancewithclause4.05（d）].

[TheBuyershallprovidetheSellerwithaguaranteeintheformofaLetterofCreditforanamountequalto[insertamount]inaccordancewithclause3.03.AftereachAnnualPayment,theSelleragreestoareductionoftheLetterofCreditbytheamountoftheAnnualPayment.

Onceallpaymentssubjecttotheabovesecurityhavebeenreceived,theSellershallnotifytheBuyerandproviderofthesecuritythatthefinalAnnualPaymenthasbeenreceivedandsuchnotificationshallconstitutetheSeller’sconsenttothecancellationoftheLetterofCredit.]

[LetterofCredit

ForthesolepurposeofsecuringtheobligationoftheBuyerto:

paytheSeller[insertnumberofpaymentsoramount]AnnualPayments;[and

[paytheFinancingInstitution[insertpaymentorothersecurityasrequired],]

theBuyershallissuea