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This is Party Poker's major monthly event.
On Sunday August 2nd at 12:45pm ET, Party Poker will be hosting it's primary monthly event: the Monthly Million. The major draw of this tournament, that makes it stick out from all other tournaments on the site, is that the prize pool is guaranteed at $1 Million. The entry fee is $640 including the site's rake and there are still some satellites available.
As far as other details go you will get a tremendous starting stack at 20,000 chips and the blinds are going to be starting at a puny 25/50. With increments only occurring every 20 minutes, this is truly a tournament that allows you to play your game without being forced to act because of the blinds, at least for several increments. However, what truly makes this tourney stand out is the huge prize pool guarantee.
You will need to register (it's free) with Party Poker and to make a deposit to play in this event.