"If Components are nouns and Traits are adjectives, then effects can be thought as the verbs and Events as the sentence which ties them all together. Events are considered to be a Fact (i.e. it is a Fact that the Event occurred) attached to the scene in which the event occurred.
Often logical result of an Event will be to add Facts to Components by adding, reducing, or restoring Traits. These Traits are paid separately." --Universalis 1st edition, pg. 59.
Explanation of Events by one of the authors (emphasis by me):
Events are basically sentences. Every sentence you speak is likely a single event. Compound or highly complicated sentences may be more than one...basically if you have a single subject, a single action verb, and a single object you have a single event. If you have a compound subject you may have more than 1 Event. The subject will typically be a Component (noun). If that Component hasn't been Created yet, it will cost a Coin as will any additional adjective sdescribing that Component.
Now how much should be paid for is a question of Color. Basically, anything that you want to be able to refer back to and use in the future...or that you want to firmly establish as being true and not subject to being ignored by other players should be paid for. Anything else...can be treated as color.
For instance, take "Bob ran across the street". Assuming Bob has already been Created and named the essential Fact here is that he is now on the other side of the street. Does the street need to be Created as a seperate Component? Depends. If the scene was taking place in the middle of the Sahara desert where anything resembling a road would be highly unusual...than probably, yeah. If the scene has already been established as taking place "Downtown" as the location, than we can assume that the Component "Downtown" has a ton of streets implicitly. We COULD create THIS particular street as a Trait of the Downtown Component, or as its own Component with an additional Ownership Trait linking it to the Downtown Component...but why? Why would you need to do that? Is there something particularly noteworthy about this street? If not, then you can probably get away with just treating the street as color.