CONTINGENT COVERAGE PREMIUM. Prior to the Operative Date (as hereinafter defined), the Investor shall pay, on or before the Effective Date of this Contract a contingent coverage premium in the amount of $15,625 for the period from the Effective Date of this Contract through December 31, 1999 (the "Initial Contingency Period"). The unearned portion of the $15,625 commitment fee which was previously paid to OPIC by the Investor for the period from October 1, 1999, through December 31, 1999, shall be applied to the contingent coverage premium for the Initial Contingency Period on a pro rata basis for the period from the Effective Date of this Contract through December 31, 1999. If the Operative Date has not occurred prior to December 31, 1999, the Investor shall pay an additional $5,208 for the period from January 1, 2000, through January 30, 2000 (the "Second Contingency Period"). OPIC shall have no liability under this Contract until the Operative Date which shall be the date, if any, upon which OPIC shall have received from the Investor the Investor's election of the Covered Amount for the first three-month coverage period (Section 1.06) which election shall be in accordance with Section 10.06. OPIC shall promptly acknowledge receipt of such notice and election of the Coverage Amount from the Investor and shall notify the Investor of the additional premium amount due for the first three-month coverage period calculated by applying the premium rate set forth in Section 1.06.2 to the Covered Amount elected by the Investor. Such amount shall be calculated net of the pro rata portion of any unearned contingent coverage premium paid and shall be payable within 30 days of the date of OPIC's notification to the Investor of the additional premium due. If the Investor fails to pay the additional premium due by such date or if the Operative Date does not occur prior to January 30, 2000, this Contract shall automatically terminate and be of no further force or effect.
