Common use of Planting Clause in Contracts

Planting. (a) Following the Execution Date, Project Company will implement a program to plant and/or replant Plantation Crops in the Project Area as specified in the Feasibility Study, provided that Project Company shall plant and/or replant such number of to meet the following minimum development obligations (the “Minimum Development Obligations”);1: (i) The second (2nd) after the execution of the relevant Land Lease Agreement(s), not less than [ ] percent ([ ]%) of the Project Area will be planted and/or replanted with Plantation Crops; (ii) The [ ] ([ ]th) year after the date hereof, not less than [ ] percent ([ ]%) of the Project Area will be planted and/or replanted with Plantation Crops; and 1The Minimum Development Obligations will vary, depending on the size of the Project Area, nature of crops, and terrain of the Project Area. They should be based on planting Annex contained in the Feasibility Study. (iii) the [ ] ([--]th) year after the date hereof, one hundred percent (100%) of the Project Area will be planted with commercially viable Plantation Crops. (b) Project Company agrees that so long as the remainder of the Concession Period is adequate and sufficient to assure the viability of a replanting program, Project Company shall commence replanting relevant parcels of land comprised in the Project Area within [twelve (12)]2 months of the End of Cycle of each such identified parcel of land, in accordance with Fallow periods and the Feasibility Study ("Replanting Obligations"). (c) Both Parties agree that the Minimum Development Obligations and Replanting Obligations may be adjusted from time to time, upon approval of MAF and any other relevant Government agencies, taking into account the experience gained by Project Company during implementation of the Project and as reflected in amendments to the Development Plan.