Common use of Payment to the State Clause in Contracts

Payment to the State. 4.1 In consideration of the State agreeing to amend the Management Agreement in the manner provided in clause 3, the Company agrees to pay to the State $469,750 ('Payment') on the date of this document. 4.2 The Payment will be paid by the State into a Trust Account established under Part 4 of the Financial Management Act 1994 in order that the principal and interest shall be applied by the State to works for the general improvement of facilities in the Melbourne Casino area. 4.3 If the Company fails to make the Payment on the due date, without prejudice to any other right or remedy arising because of that failure, the Company must pay to the State interest (calculated daily) on the amount in default (including accrued interest) at the Default Rate for the period from the due date until payment is made (including all interest due under this clause). 4.4 A breach by the Company of this clause 4 shall be taken to be a breach of the Management Agreement for the purposes of clause 25.2 of the Management Agreement.

Payment to the State. 4.1 In consideration of the State agreeing to amend the Management Agreement in the manner provided in clause 3, the Company agrees to pay to the State $469,750 ('Payment') on the date of this document. 4.2 The Payment will be paid by the State into a Trust Account established under Part 4 of the Financial Management Act 1994 in order that the principal and interest shall be applied by the State to works for the general improvement of facilities in the Melbourne Casino area. 4.3 If the Company fails to make the Payment on the due date, without prejudice to any other right or remedy arising because of that failure, the Company must pay to the State interest (calculated daily) on the amount in default (including accrued interest) at the Default Rate for the period from the due date until payment is made (including all interest due under this clause). 4.4 A breach by the Company of this clause 4 shall be taken to be a breach of the Management Agreement for the purposes of clause 25.2 of the Management Agreement. 4.5 If clause 3 of this document does not come into operation and this document (other than clause 5) therefore terminates, the State shall refund to the Company the amount paid to the State under this clause 4 within 5 Business Days after such termination.

Payment to the State. 4.1 In consideration of the State agreeing to amend the Management Agreement in the manner provided in clause 3, the Company 10 agrees to pay to the State $469,750 ('Payment') on the date of this document. 4.2 The Payment will be paid by the State into a Trust Account established under Part 4 of the Financial Management Act 1994 in order that the principal and interest shall be applied by the State 15 to works for the general improvement of facilities in the Melbourne Casino area. 4.3 If the Company fails to make the Payment on the due date, without prejudice to any other right or remedy arising because of that failure, the Company must pay to the State interest 20 (calculated daily) on the amount in default (including accrued interest) at the Default Rate for the period from the due date until payment is made (including all interest due under this clause). 4.4 A breach by the Company of this clause 4 shall be taken to be a breach of the Management Agreement for the purposes of clause 25 25.2 of the Management Agreement. 4.5 If clause 3 of this document does not come into operation and this document (other than clause 5) therefore terminates, the State shall refund to the Company the amount paid to the State under this clause 4 within 5 Business Days after such termination.