Common use of Payments to Team Clause in Contracts

Payments to Team. Team shall only be paid upon winning an Award and shall not receive payment for preparation or participation in the Competition. Milken may provide a portion (up to half) of an Award to Team upon Announcement of any Award and the remaining portion of Award contingent upon participation in and completion of a subsequent round of the Competition. Milken reserves the right to withhold or recover any Award, or portion thereof, if Team withdraws, intends to withdraw, or fails to participate throughout the complete duration of the Competition. Team and Team Members are solely responsible for all of their own costs. Milken shall make any necessary payment to the bank account specified by Team during Registration. Team bank account information may be updated by written notice to Milken, as per the terms of this Agreement, at least 30 calendar days prior to any expected payment. Compliance with payment instructions provided by Team shall constitute payment of the applicable Award.

Payments to Team. Team shall only be paid upon winning an Award and shall not receive payment for preparation or participation in the Competition. Milken may provide a portion (up to half) of an Award to Team upon Announcement of any Award and the remaining portion of Award contingent upon participation in and completion of a subsequent round of the Competition. Milken reserves the right to withhold or recover any Award, or portion thereof, if Team withdraws, intends to withdraw, or fails to participate throughout the complete duration of the Competition. Team and Team Members are solely responsible for all of their own costs. Milken shall make any necessary payment to the bank account specified by Team during Registration. Team bank account information may be updated by written notice to Milken, as per the terms of this Agreement, at least 30 thirty (30) calendar days prior to any expected payment. Compliance with payment instructions provided by Team shall constitute payment of the applicable AwardAward and Milken shall not be responsible for relying on inaccurate information provided to Milken.