19.1 The Company shall pay to the Grantor an annual surface rental fee of [insert currency and amount] per hectare of land included in the Project Area (the Rental Amount), on or before [insert date] date each year.

19.2 Interest for late payment of the Rental Amount shall be accrued at a rate of [insert figure] % per day, which shall compound.

19.3 The Parties shall meet every [insert number of years]/[insert other frequency] following the Effective Date to conduct a joint periodic review of the Rental Amount and to negotiate in good faith any necessary adjustments to the Rental Amount to take into account any currency fluctuations, substantial changes to the operating costs of the Project, or other relevant changes to the economic circumstances affecting the Project.

19.4 Where the Parties cannot agree as to necessary adjustments to the Rental Amount, the Parties shall refer the matter to an Independent Expert for final determination in accordance with Section 61.

For more information: See generally IISD, 2014, Section 7.1 (Rent and Royalties); ISLP & CCSI, 2016, Section 2.11 (Rental Fees, Taxes, and Other Payments); UNIDROIT & IFAD 2021, Chapter 3, Part A (Monetary Contributions).