Minimum PPP Fee definition

Minimum PPP Fee that portion of the PPP Fee that is payable by the Private Party at all times after the Operation Commencement Date, regardless of the amount of the Gross Revenue, which amount is detailed in Clause 15;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Minimum PPP Fee the portion of the PPP Fee that is payable by the Private Party at all times after the Operation Commencement Date will apply, regardless of the amount of the Gross Revenue, which is stipulated in Clause 19; 2.1.48 “Minister” - Minister of Environmental Affairs in South Africa or any minister that assumes the responsibility for the Protected Area in the future; 2.1.49 “Operation Commencement Date” - the first Business Day after the expiry of the Development Period, by which date the Private Party shall be required, alternatively be deemed, to have commenced the conduct of the Business, as the case may be, at the ,▇▇▇▇ site in accordance with the terms and conditions of this PPP Agreement; 2.1.50 “Park Management Plan” - the management plan developed by SANParks for the Protected Area in consultation with the local authorities, organs of state and other stakeholders and approved by the Minister as provided for in the Protected Areas Act, the objective of which is to ensure the protection, conservation and management of the Protected Area in a manner which is consistent with the objectives of the Protected Areas Act and the purpose for which the Protected Area was declared a national park in terms of the Protected Areas Act; 2.1.51 “Park Manager” - the most senior manager of the Protected Area, designated as such by SANParks from time to time; 2.1.52 “Park Rules” - the Environmental rules in respect of the Protected Area, as may be revised and/or updated by SANParks from time to time;

Minimum PPP Fee has the meaning described in Clause 8.2.1;

Examples of Minimum PPP Fee in a sentence

• The Minimum PPP Fee shall be paid monthly in advance [on the [x] Business Day of the month preceding the month in respect of which that Minimum PPP Fee is being paid].

• 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.

• With effect from the Scheduled Operation Commencement Date and for the duration of the Project Term, the Private Party shall pay to the Institution the PPP Fee, which will be higher of: the amount of R[insert amount] (indexed to CPIX), which amount shall be called the "Minimum PPP Fee"; and [x]% of the Gross Revenue earned in respect of the relevant Project Year, which amount shall be called the "Variable PPP Fee".

• With effect from the Operation Commencement Date and for the duration of the Project Term, the Private Party shall pay to the Institution the PPP Fee, which will be higher of: the amount of R[insert amount] (indexed to CPIX), which amount shall be called the "Minimum PPP Fee"; and [x]% of the Gross Revenue earned in respect of the relevant Project Year, which amount shall be called the "Variable PPP Fee".

• 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.

• 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 the ▇▇▇▇ Braai Product and shall 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.

• 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 the Restaurant 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.

• 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 in each for the Restaurant and Retail facilities listed in Schedule 6 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.

• 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 the Phabeni Education Centre and shall 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.

• 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 the Nkuhlu Precinct Facility and shall 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.

More Definitions of Minimum PPP Fee

Minimum PPP Fee means, in respect of the Project Year in question, the Minimum PPP Fee stipulated by SANParks and indicated in Annexure X, escalated annually to compensate for inflation in accordance with the Consumer Price Index, as indicated in Clause 8.7 below;

Minimum PPP Fee that portion of the PPP Fee that is payable by the Private Party at all times after the Operation Commencement Date, regardless of the amount of the Gross Revenue, which is stipulated in Clause 17; 2.1.45 “Minister” Minister of Forestry, Fisheries, and the Environment in South Africa or any minister that assumes the responsibility for the Protected Area in the future;

Minimum PPP Fee means, in respect of the year in question, a minimum rental of R xxxxx-00 per month adjusted annually on the anniversary date with the Consumer Price Index;

Minimum PPP Fee that portion of the PPP Fee that is payable by the Private Party at all times after the Operation Commencement Date, regardless of the amount of the Gross Revenue, which is stipulated in Clause 19; 2.1.47 “Minister” - Minister responsible for environmental affairs in South Africa or any minister that assumes the responsibility for the Protected Area in the future; 2.1.48 “Spa Facility” - the recreational facility located within the Protected Area as more fully described in Schedule 1. The Spa Facility will consist of at least one permanent spa facility as well as a mobile spa to be used in camps where permanent structures are not erected. An area with a water and electricity point will be provided in camps where the product will be presented; 2.1.49 “Operation Commencement Date” - the first Business Day after the expiry of the Development Period, by which date the Private Party shall be required, alternatively be deemed, to have commenced the conduct of the Business, as the case may be, at the Spa Facility in accordance with the terms and conditions of this PPP Agreement; 2.1.50 “Park” - Kruger National Park; 2.1.51 “Park Management Plan” - the management plan developed by SANParks for the Protected Area in consultation with the local authorities, organs of state and other stakeholders and approved by the Minister as provided for in the Protected Areas Act, the objective of which is to ensure the protection, conservation and management of the Protected Area in a manner which is consistent with the objectives of the Protected Areas Act and the purpose for which the Protected Area was declared a national park in terms of the Protected Areas Act; 2.1.52 “Park Manager” - the most senior manager of the Protected Area, designated as such by SANParks from time to time; 2.1.53 “Park Rules” - the Environmental rules in respect of the Protected Area, as may be revised and/or updated by SANParks from time to time; 2.

Minimum PPP Fee the portion of the PPP Fee that is payable by the Private Party at all times after the Operation Commencement Date will apply, regardless of the amount of the Gross Revenue, which is stipulated in Clause 19 provided that the Private Party shall, from the Operation Commencement Date until a period of 3 (three) months after the lifting by Government of the Disaster Management Act: Regulations to address, prevent and combat the spread of Coronavirus COVID-19 (lockdown regulations), pay a variable fee (% of gross revenue); 2.