Booking Cancellations. Upon receipt of a notice of intent to terminate in accordance with Section 2.3, Manager shall, with respect to the home in question, block dates after the Effective Termination Date such that they are not available for rental. To the extent, however, that existing reservations are in place subsequent to the Effective Termination Date, Owner shall pay Manager a fee of 25% of the booking value of each rental that shall be used to cover any hard costs of cancellation inposed by a platform or payment processor and to compensate guests for the inconvenience of such cancellation. At Owner’s discretion, the Effective Termination Date may be moved to a later date to reduce or eliminate fees associated with booking cancellations. In such case, Manager shall keep the property available for rental through the adjusted Effective Termination Date.
Appears in 4 contracts
Samples: Property Management Agreement (Arrived STR 2, LLC), Property Management Agreement (Arrived STR, LLC), Property Management Agreement (Arrived STR, LLC)
