Project Development Fee. For its services under this Agreement related to any particular Project, in addition to interest earned on the Project Preliminary Development Loan, Lakes shall receive a fee equal to (a) three (3%) percent of Project Costs ("Development Fixed Fee") and (b) a flat fee of $250,000 per month for one hundred twenty (120) months in accordance with the payment terms described in Section 7.2.("Monthly Consulting Fixed Fee")(collectively the "Project Development Fee").
Project Development Fee. The Authority shall pay the Project Development Fee to hubco. The due date for payment of the Project Development Fee shall be the date of the Authority’s receipt of the relevant invoice. Within five (5) days after the due date for payment the Authority's Representative shall issue a payment notice detailing the sum that the payer considers to be or to have been due at the payment due date and the basis on which that sum is calculated. The final date for payment shall be 5 days after the due date. 33 No later than each Application Date, hubco shall make an application ("Application for Payment") to the Authority’s Representative for an interim certificate of payment in respect of that Relevant Month. Each Application for Payment shall be in accordance with Clause 27.3 below and include such supporting information and documentation as is reasonably required by the Authority in order to prepare and issue an Interim Certificate (as defined in Clause 27.5). The payment due date for an interim Certificate (as defined in Clause 27.5) in respect of a Relevant Month shall be the Application Date (the "Due Date").
Project Development Fee. A fee of One Hundred Fifty Thousand and No/100 Dollars ($150,000).upon Contractor’s completion of all work required in the Phase 1 (the “Project Development Fee”).
Project Development Fee. The Selected Bidder shall be required to make a non refundable payment for an amount of Rs.1.75 Crs.
Project Development Fee. 31.1 Within five (5) days of the Execution Date, the Concessionaire shall pay to IFC, a project development fee of [•] (the "Project Development Fee"). [Note:this provision may be amended ).]
31.2 The Project Development Fee shall be payable in Euros, in immediately available funds, without any deductions whatsoever for taxes, duties, charges or other withholdings (all of which shall be borne by the Concessionaire), into the following account: [Note: to be completed at a later stage]
31.3 If the Concessionaire fails to pay the Project Development Fee to IFC in accordance with Clause 31 (Project Development Fee) above, then the Contracting Authority shall:
(a) draw on the Closing Security for the full amount of the Project Development Fee; and
(b) pay the Project Development Fee to IFC out of such proceeds.
Project Development Fee. (a) If the project development fee of USD 86,795 (US eighty six thousand seven hundred and ninety five), as set out in the LOA (the Project Development Fee) has not been paid by the Project SPV or the Selected Bidder on or before the date of this Agreement, then the Project SPV shall or shall cause the Selected Bidder to pay IFC the Project Development Fee within 7 Days of the date of this Agreement.
(b) The Project Development Fee shall be paid by the Project SPV or the Selected Bidder to IFC in US Dollars, in immediately available funds, without any deductions whatsoever for Taxes, charges or other withholdings (all of which shall be borne by the Project SPV), into the bank account having the following details Xxxxx Fargo Bank, N.A. 000 Xxxx Xxxxxx XXX XXXX, XX 00000, XXX ABA: 000000000 SWIFT CODE: XXXXXX0XXXX For Credit: International Finance Corporation Account No: 2000192003476, or into such other bank account as IFC may designate. It is clarified that the payment of the Project Development Fee will be exempt from any Taxes, duties, charges or other withholdings under the International Finance Corporation (Status, Immunities and Xxxxxxxxxx) Xxx, 0000.
(c) If the Project SPV fails to pay the Project Development Fee to the IFC in accordance with this Clause 12.2, the Authority shall be entitled to:
(i) draw upon the Performance Bank Guarantee; and/or
(ii) deduct the amount payable to IFC from any amounts that become due and payable by the Authority to the Project SPV, and pay the Project Development Fee to IFC out of such proceeds.
(d) If any amount paid by the Authority to IFC on behalf of the Project SPV is insufficient to pay the entire Project Development Fee, then the unpaid portion of the Project Development Fee shall constitute a debt due from the Project SPV to IFC that shall be payable on demand.
Project Development Fee. The Authority shall pay the Project Development Fee to hubco within [ ] Business Days of the later of the Execution Date and receipt by the Authority of a valid invoice therefor.33
Project Development Fee. (a) The Concessionaire shall pay the IFC a fee (the Project Development Fee) that is the higher of:
(i) one per cent (1%) of the lower of: (1) the estimated capital cost of the Project stated in the technical proposal submitted by the Consortium as part of its bid in response to the RFP; and (2) INR 970,00,00,000 (INR nine hundred and seventy crore); and
(ii) US$ 1,500,000 (US Dollars one million and five hundred thousand), to the extent that the Project Development Fee has not already been paid by the Consortium to the IFC as on the date of execution of this Agreement.
(b) The payment of the Project Development Fee to the IFC shall be made in US Dollars, in immediately available funds, without any deductions whatsoever for taxes, duties, charges or other withholdings (all of which shall be borne by the Concessionaire), into the bank account having the following details: Xxxxx Fargo Bank, N.A. 000, Xxxx Xxxxxx: Xxx Xxxx, XX 00000 Xxxxxx Xxxxxx of America Account Number: 2000192003476 For Credit: IBRD – International Bank for Reconstruction and Development Swift ID: XXXXXX0XXXX ABA: 000000000 or at such other bank in such place as the IFC may designate.
(c) The Concessionaire shall pay the Project Development Fee in accordance with the following schedule:
(i) US Dollars one million (US$ 1,000,000) within ninety (90) days of the issuance of the Letter of Award and on or before the date of execution of this Agreement to the extent that this amount has not already been paid by the Consortium to the IFC as on the date of execution of this Agreement; and
(ii) the balance of the aggregate amount of the Project Development Fee, which shall not be less than US Dollars five hundred thousand (US$ 500,000), within thirty (30) days of the date on which Financial Close is achieved by the Concessionaire.
Project Development Fee. A sum of $1,600.00 to process each application for the Program Funds.
Project Development Fee. The Concessionaire has made payment of Rs.5,00,000/- (Rupees five lakhs only) plus applicable GST towards the project development fee (the “Project Development Fee”) to the Authority in from of demand draft from nationalised or scheduled bank in India in favour of “Chief Administrator, Amritsar Development Authority” payable at Amritsar dated ; towards the expenditure incurred by the Authority for carrying out the required feasibility studies, finalization of development proposal for the project, consultancy fees paid, preparation of bid document and other expenses incurred on the Project.
