Purse Payment. FUNDERS have agreed to issue purse payments no later than 60 days after the announcement of the winner of the CHALLENGE. Checks will be payable to the TEAM LEADER. Each TEAM MEMBER acknowledges that FUNDERS shall only be obligated to make purse payments to the TEAM LEADER. TEAM MEMBERS hereby acknowledge that any failure of the TEAM LEADER to make payments of any kind to TEAM MEMBERS is the responsibility of the TEAM LEADER, and not the responsibility of CAFE or FUNDERS.
Appears in 4 contracts
Samples: Team Agreement, General Aviation Technology Challenge Team Agreement, Foundation And
