Common use of Sponsorship Fee payable Clause in Contracts

Sponsorship Fee payable. If a Sponsorship Fee is payable, you must insert the Milestones to be achieved by the Organisation before an instalment of the Sponsorship Fee is payable by the State. It is important that these Milestones are clear. Once a particular Milestone has been achieved, the Organisation must submit a valid tax invoice to the State for that instalment amount within 14 days of that Milestone being achieved. The State then has to make payment of that part of the Sponsorship Fee to the Organisation: (a) upon achievement of the Milestone; and (b) within 30 days after the later of: (i) the date set out in the table below; and