Common use of Payment to the State Clause in Contracts

Payment to the State. 4.1 The Company agrees to pay to the State $18 million ('Payment') by 6 instalments of $3 Million each payable within 30 days of invoice from the State for each instalment the first of which is to be issued on the date of ratification of this Deed in accordance with clause 2 and the further invoices to be issued on each anniversary of this Deed in the 5 years following.