Common use of PPP Fees Clause in Contracts

PPP Fees. The Private Party shall pay SANParks a PPP Fee as follows: 15.2.1 The annual fee payable by the Private Party to SANParks for any given year shall be the highest of the following: 15.2.1.1 The Minimum PPP Fee for the year; or 15.2.1.2 The Variable PPP Fee for that year. 15.2.2 The payment will be as follows: 15.2.2.1 The Minimum PPP Fee shall accrue and be payable by the Private Party to SANParks within 7 (seven) Business Days following the end of each month. 15.2.2.2 The Variable PPP Fee shall be calculated by the Private Party for the year in question on the basis of the Private Party’s audited statements within 60 days of the end of the year. If this figure is higher than the Minimum PPP Fee, it shall be the total amount payable under this Clause Error! Reference source not found. by the Private Party to SANParks. The difference between the Variable PPP Fee thus determined and the aggregate of amounts already paid as Minimum PPP Fee, will be payable within 7 (seven) Business Days following the calculation. 15.2.3 The Minimum PPP Fee or the Variable PPP Fee will be calculated on the aggregate turnover for Ratelrivier Estate at ANP. 15.2.4 All PPP Fees or other amounts payable by the Private Party to SANParks in terms of this PPP Agreement shall be exclusive of value-added tax (VAT). 15.2.5 The Private Party shall, notwithstanding any other provision of this PPP Agreement, not be obliged to pay rental for the period from the Effective Date up to the Operation Commencement Date, where after PPP Fees will be payable as provided for herein.

PPP Fees. 19.2.1 The Private Party shall pay SANParks a the PPP Fee as follows:to SANParks each and every month from the Operation Commencement Date. 15.2.1 19.2.2 The annual fee monthly PPP Fees payable by the Private Party to SANParks for any given year shall be the highest of the followinghigher of: 15.2.1.1 19.2.2.1 the Minimum PPP Fee; or 19.2.2.2 the Variable PPP Fee. 19.2.3 The Minimum PPP Fee for or the year; orVariable PPP Fee will be calculated using the formula set out in Schedule 6. 15.2.1.2 19.2.4 The monthly Minimum PPP Fee and the Variable PPP Fee are set out in detail in Schedule 6 attached hereto. Irrespective of which of these elements determines the final amount payable in any given month, the PPP Fee payment will be the higher of the Minimum PPP Fee or the Variable PPP Fee for that year. 15.2.2 The payment will be as follows: 15.2.2.1 The Minimum PPP Fee the Phabeni Education Centre and shall accrue and be payable by the Private Party to SANParks within 7 (seven) Business Days following the end of each month, free of deduction or set-off, to SANParks. 15.2.2.2 The Variable 19.2.5 For purposes of reconciling the PPP Fee shall be calculated Fees payable by the Private Party for the year in question on the basis of any given Financial Year, the Private Party’s audited statements Party shall, within 60 120 (one hundred and twenty) days of after the end of each Financial Year, furnish its audited financial statements to SANParks, whereafter SANParks shall verify and reconcile the year. If this figure is higher than PPP Fees due against the Minimum PPP FeeFees actually paid in the relevant Financial Year. 19.2.6 In the event that subsequent to the enquiry contemplated in clause 19.2.5 above, it shall be the total amount payable under this Clause Error! Reference source not found. PPP Fees paid by the Private Party are less than the PPP Fees due to SANParks. The difference between SANParks in the Variable PPP Fee thus determined and relevant Financial Year (the aggregate of amounts already paid as Minimum PPP Fee“Outstanding Fees”), will be payable within 7 (seven) Business Days following the calculationPrivate Party shall pay the Outstanding Fees to SANParks upon demand. 15.2.3 The Minimum PPP Fee or the Variable PPP Fee will be calculated on the aggregate turnover for Ratelrivier Estate at ANP. 15.2.4 19.2.7 All PPP Fees or other amounts payable by the Private Party to SANParks in terms of this PPP Agreement shall be exclusive of value-added tax (VAT). 15.2.5 19.2.8 The Private Party shall, notwithstanding any other provision of this PPP Agreement, not be obliged to pay rental for the period from the Effective Signature Date up to the Operation Commencement Date, where after PPP Fees will be payable as provided for herein.

PPP Fees. 19.2.1 The Private Party shall pay SANParks a the PPP Fee as follows:to SANParks each and every month from the Operation Commencement Date. 15.2.1 19.2.2 The annual fee monthly PPP Fees payable by the Private Party to SANParks for any given year shall be the highest of the followinghigher of: 15.2.1.1 19.2.2.1 the Minimum PPP Fee; or 19.2.2.2 the Variable PPP Fee. 19.2.3 The Minimum PPP Fee for or the year; orVariable PPP Fee will be calculated using the formula set out in Schedule 6. 15.2.1.2 19.2.4 The monthly Minimum PPP Fee and the Variable PPP Fee are set out in detail in Schedule 6 attached hereto. Irrespective of which of these elements determines the final amount payable in any given month, the PPP Fee payment will be the higher of the Minimum PPP Fee or the Variable PPP Fee for that year. 15.2.2 The payment will be as follows: 15.2.2.1 The Minimum PPP Fee the Treehouse Camp Facility and shall accrue and be payable by the Private Party to SANParks within 7 (seven) Business Days following the end of each month, free of deduction or set-off, to SANParks. 15.2.2.2 The Variable 19.2.5 For purposes of reconciling the PPP Fee shall be calculated Fees payable by the Private Party for the year in question on the basis of any given Financial Year, the Private Party’s audited statements Party shall, within 60 120 (one hundred and twenty) days of after the end of each Financial Year, furnish its audited financial statements to SANParks, whereafter SANParks shall verify and reconcile the year. If this figure is higher than PPP Fees due against the Minimum PPP FeeFees actually paid in the relevant Financial Year. 19.2.6 In the event that subsequent to the enquiry contemplated in clause 19.2.5 above, it shall be the total amount payable under this Clause Error! Reference source not found. PPP Fees paid by the Private Party are less than the PPP Fees due to SANParks. The difference between SANParks in the Variable PPP Fee thus determined and relevant Financial Year (the aggregate of amounts already paid as Minimum PPP Fee“Outstanding Fees”), will be payable within 7 (seven) Business Days following the calculationPrivate Party shall pay the Outstanding Fees to SANParks upon demand. 15.2.3 The Minimum PPP Fee or the Variable PPP Fee will be calculated on the aggregate turnover for Ratelrivier Estate at ANP. 15.2.4 19.2.7 All PPP Fees or other amounts payable by the Private Party to SANParks in terms of this PPP Agreement shall be exclusive of value-added tax (VAT). 15.2.5 19.2.8 The Private Party shall, notwithstanding any other provision of this PPP Agreement, not be obliged to pay rental for the period from the Effective Signature Date up to the Operation Commencement Date, where after PPP Fees will be payable as provided for herein.

PPP Fees. The Private Party shall pay SANParks a PPP Fee as follows: 15.2.1 The annual fee payable by the Private Party to SANParks for any given year shall be the highest of the following: 15.2.1.1 The Minimum PPP Fee for the year; or 15.2.1.2 The Variable PPP Fee for that year. 15.2.2 The payment will be as follows: 15.2.2.1 The Minimum PPP Fee shall accrue and be payable by the Private Party to SANParks within 7 (seven) Business Days following the end of each month. 15.2.2.2 The Variable PPP Fee shall be calculated by the Private Party for the year in question on the basis of the Private Party’s audited statements within 60 days of the end of the year. If this figure is higher than the Minimum PPP Fee, it shall be the total amount payable under this Clause Error! Reference source not found. by the Private Party to SANParks. The difference between the Variable PPP Fee thus determined and the aggregate of amounts already paid as Minimum PPP Fee, will be payable within 7 (seven) Business Days following the calculation. 15.2.3 The Minimum PPP Fee or the Variable PPP Fee will be calculated on the aggregate turnover for Ratelrivier Rietfontein Estate at ANP. 15.2.4 All PPP Fees or other amounts payable by the Private Party to SANParks in terms of this PPP Agreement shall be exclusive of value-added tax (VAT). 15.2.5 The Private Party shall, notwithstanding any other provision of this PPP Agreement, not be obliged to pay rental for the period from the Effective Date up to the Operation Commencement Date, where after PPP Fees will be payable as provided for herein.