Common use of Project Management Fee Clause in Contracts

Project Management Fee. PCSD’s fee for the Services will be SIX HUNDRED THOUSAND Dollars ($624,000) (the “Project Management Fee”) subject to adjustment as set forth in Section 1.3. The Project Management Fee will be billed on an equal monthly basis for Twenty-four (24) months (that is, Twenty-Six Thousand Dollars ($26,000 per month)). If the Project is completed in less than Twenty-Four (24) months, PCSD reserves the right to ▇▇▇▇ the balance of the Project Management Fee that remains unpaid immediately upon final Project completion. Each invoice will be due within fifteen (15) business days after receipt. A late fee of TEN PERCENT (10%) per annum or the maximum allowed by law, whichever is less, shall be due and payable for any invoices not paid within the aforementioned period.

Project Management Fee. PCSD’s fee for the Services will be SIX FIVE HUNDRED SEVENTY-FIVE THOUSAND Dollars ($624,000575,000) (the “Project Management Fee”) subject to adjustment as set forth in Section 1.3. The Project Management Fee will be billed at a rate of $7,500 per month for Three (3) months and then on an equal monthly basis for the remaining Twenty-four one (2421) months (that is, Twenty-Six Thousand Three Hundred Nine Dollars ($26,000 26,309 per month)). If the Project is completed in less than Twenty-Four (24) months, PCSD reserves the right to ▇▇▇▇ bill the balance of the Project Management Fee that remains unpaid immediately upon final Project completion. Each invoice will be due within fifteen (15) business days after receipt. A late fee of TEN PERCENT (10%) per annum or the maximum allowed by law, whichever is less, shall be due and payable for any invoices not paid within the aforementioned period.