Common use of Funding Commitment Clause in Contracts

Funding Commitment. 8.1 Each EAGA member will contribute an annual membership fee of $20,000 commencing in 2017/18 up until and including the 2020/21 financial year. This fee will be increased at 2.5% per annum to accommodate EAGA’s forecasted increase in expenses over the MOU period. 8.2 The funding commitment includes the following payment schedule: 8.2.1 (June 2017) $20,000 + GST