Attrition Schedule Clause Samples

Attrition Schedule. Any one night of a FIFA World Cup™ Room (a "FIFA World Cup™ Room Night") may be released or cancelled to the Hotel according to the schedule set forth below: (a) Prior to 31 July 2008, MATCH may release without penalty any number of or all of the FIFA World Cup™ Rooms for one or more nights. On or before 31 July 2008 MATCH will provide the Hotel with written notice of the number of FIFA World Cup™ Room Nights not previously released (the "Total Room Nights Held"). (b) Between 31 October 2009 and 10 April 2010 MATCH shall provide Hotel monthly written notice of the number of FIFA World Cup™ Room Nights for which either confirmed reservations have been received by MATCH or which are being held under option by MATCH for guests (together the "Reserved Room Nights"). The FIFA World Cup™ Room Nights that are not Reserved Room Nights (the "Available Room Nights") shall be released to the Hotel on the following basis: (i) No later than one week following the Final Draw for the 2010 FIFA World Cup™ or 31 December 2009 (whichever is earlier), not less than fifty percent (50%) of the then Available Room Nights shall be released to the Hotel by MATCH. (ii) No later than 10 April 2010 all the then Available Room Nights shall be released to Hotel by MATCH. (c) After 10 April 2010 Reserved Room Nights may be cancelled on the following basis: (i) Up to fifteen percent (15%) of the Total Room Nights Held may be cancelled without penalty by MATCH provided no less than thirty (30) days' written notice is given to the Hotel. For each Reserved Room Night cancelled under this subsection in excess of the number of Reserved Room Nights MATCH is permitted to cancel without penalty, MATCH shall pay a penalty of thirty percent (30%) of the Run-of-House Net Rate to Hotel. (ii) Up to ten percent (10%) of the Total Room Nights Held may be cancelled without penalty by MATCH with less than thirty (30) days' written notice, provided that no less than fifteen (15) days written notice of cancellation is given to Hotel by MATCH. For each Reserved Room Night cancelled under this subsection in excess of the number of Reserved Room Nights MATCH is permitted to cancel without penalty, MATCH shall pay a penalty of forty percent (40%) of the Run-of-House Net Rate to the Hotel. (iii) Up to five percent (5%) of the Total Room Nights Held may be cancelled without penalty by MATCH with less than fifteen (15) days' written notice, provided that written notice of cancellation is given to Hotel by MATCH ...