Contribution to Social Development and Institutions Strengthening Sample Clauses

Contribution to Social Development and Institutions Strengthening. CONCESSIONAIRE hereby undertakes to make a cash contribution to the PROVINCE amounting to United States Dollars Six Million Nine Hundred and Five Thousand (USD 6,905,000) (equivalent to twenty percent (20%) of the Fixed Fee) to be allocated to funding construction of building infrastructure and/or acquisition of operating equipment to be located at education and/or health institutions and/or governmental agencies. Such Contribution to Social Development and Institutions Strengthening shall be paid in full (i.e. 100%) to the PROVINCE at the offer exchange rate published by Banco de la Nación Argentina as of the close of business on the third day prior to payment, within a five (5) business days’ term following legislative confirmation of the Agreement. Payment shall be made by wire transfer to the account to be informed by the Province in writing to CONCESSIONAIRE at least two (2) business days prior to the payment date. Furthermore, the PROVINCE undertakes to inform CONCESSIONAIRE on a regular basis about the application of funds invested in the above-mentioned items.
Sample 1
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Contribution to Social Development and Institutions Strengthening. CONCESSIONAIRE hereby undertakes to make a cash contribution to the PROVINCE amounting to United States Dollars Eight Million (USD 8,000,000) (equivalent to twenty percent (20%) of the Fixed Fee) to be allocated to funding construction of building infrastructure and/or acquisition of operating equipment to be located at education and/or health institutions and/or governmental agencies. Such Contribution to Social Development and Institutions Strengthening shall be paid in full (i.e. 100%) to the PROVINCE at the offer exchange rate published by Banco de la Nación Argentina as of the close of business on the third day prior to payment, within a five (5) business days’ term following legislative confirmation of the Agreement. Payment shall be made by wire transfer to the account to be informed by the Province in writing to CONCESSIONAIRE at least two (2) business days prior to the payment date. Furthermore, the PROVINCE undertakes to inform CONCESSIONAIRE on a regular basis about the application of funds invested in the above-mentioned items.
Sample 1

Related to Contribution to Social Development and Institutions Strengthening

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