Lease of the Land. The Developer will enter into an agreement with the Land Company for the lease of the Land for a period of not less than ten (10) years. The Developer shall pay to the Land Company a monthly fixed five dollar ($5) rent per each hectare of arable land made available to be used for the benefit of and allocated to the Project (the “Land Rent”). As of the first day of the sixth year starting from the Effective Date, the Land Rent shall increase yearly in an amount no greater than two percent (2%).
Appears in 2 contracts
Samples: Master Farm Management Services Agreement, Master Farm Management Services Agreement (Biopower Operations Corp)
