Common use of Project Management Fee Clause in Contracts

Project Management Fee. (a) In full consideration and compensation for the Services to be performed by the Project Manager hereunder, during the Term, the Company shall pay to the Project Manager a Project management fee (the “Project Management Fee”) of six percent (6%) of all net income derived from the Project. The Project Management Fee shall be calculated and paid pursuant to the Schedule E. (b) The Project Manager will cease to receive and relinquish the Project Management Fee upon the closing of its exercise of the Option set forth in the Option Agreement. All payments hereunder shall be made in US Dollars converted from Paraguayan Guarani, as applicable, at the rate established by the Central Bank of Paraguay at the time of payment and shall be earned by or made to the Project Manager, unless otherwise instructed, at least three (3) Business Days prior to the due date of the payment.