Sponsorship Contract
This Sponsorship Agreement (hereinafter referred to as the "Agreement") made and entered into this [Month] [Date], [Year] (the "Effective Date"), is by and between [Your Company Name], having its principal place of business at [Your Company Address] (hereinafter referred to as the "Sponsoring Party"), and [Your Name], residing at [Event Organizer's Address] (hereinafter referred to as the "Event Organizer").
1. Purpose
The Sponsoring Party agrees to provide financial support to the Event Organizer to cover costs associated with the event, including, but not limited to, venue rental, promotional materials, and catering services. The total sponsorship amount will be [Amount] payable in a lump sum before the commencement of the event.
2. Payment Terms
The Sponsoring Party agrees to pay the Event Organizer the total sponsorship amount by [Month] [Date], [Year]. No part of the payment shall be refundable unless the Event is canceled for reasons within the control of the Event Organizer.
3. Sponsor's Rights
As a sponsor, [Your Company Name] will receive acknowledgment and publicity at the event, and have its logo featured prominently on all related promotional materials.
4. Use of Funds
The use of sponsorship funds, which are intended for a specific purpose, is strictly confined to accomplishing certain tasks. These tasks include the meticulous planning of the event, properly setting up the required groundwork, managing the entire event skillfully, and finally, wrapping up the event in a successful and organized manner.
5. Cancellation
In case the event gets canceled, the Event Organizer, who is accountable for the event's arrangement, must immediately inform the Sponsoring Party in writing within 15 days post-cancellation. Any delay beyond this stipulated timeline can subject the Event Organizer to penalties.
6. Indemnity
Both parties agree to indemnify and hold harmless each other from any damages arising from this agreement to the extent permitted by law.
7. Governing Law
This Agreement shall be governed by, and construed under, the laws of the state of Virginia.
8. Entire Agreement
This Agreement constitutes the entire agreement between the Sponsoring Party and the Event Organizer and supersedes all prior understandings, agreements, representations, and warranties.
IN WITNESS WHEREOF, the Sponsoring Party and the Event Organizer hereto have executed this Sponsorship Agreement as of the date first above written.
Sponsor [Your Name]
[Your Company Name]
[Date]
Recipient [Your Name]
[Your Company Name]
[Date]
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