The Letter of Intent is a non-binding contract that shows your interest in our program and gets the process started for your land.
The purpose of this letter is to set forth some of the basic terms and conditions of the proposed sale of Carbon Credits by the Seller (as defined below, the "Seller") and the purchase and/or listing for sale of such Carbon Credits. The terms set forth in this letter of intent ("LOI") will not become binding until a definitive purchase agreement (the "Carbon Credit Purchase Agreement") is executed by both parties.
The Seller intends to carry out the Project as described in the commercial terms of the Carbon Credit Purchase Agreement which is expected to result in reductions in greenhouse gas emissions that would not occur in the absence of the Project. The Seller wishes to retain or list for sale the Carbon Credits generated by the Project upon the terms and conditions of the Carbon Credit Purchase Agreement.
Upon approval of the proposed Project, the seller will obtain a satellite imagery report via our partner's Atmosphere Group LLC. The anticipated share of the Carbon Credits will be forty percent (40%) to Atmosphere Group LLC et all, fifty percent (50%) to Seller, and ten percent (10%) to the Representative.
Our verification agents will create the available carbon credit report. The Seller will have the option to sell the credits on a platform or to store credits in their dedicated account via a created trading account. When the Seller is ready to sell the Carbon Credits, they will be able to list them for sale to verified buying parties.
The Seller agrees to the exclusive right to the Project for Carbon Credits for one year from the date hereof. This is an annual agreement.