Cancellation and Refunds. If a Licensee cancellation is received by CTC between 7 and 1 working days prior to the Hire Period commencement, the cancellation fee is 50% of the Licence Fee. Where notification of cancellation is received by CTC on the first day of the Hire Period commencement, the cancellation fee is 100% of the Licence Fee. CTC reserves the right to retain the Deposit Fee as a cancellation fee if CTC cancels the booking due to the Licensee not paying the total Licence Fee by the due date specified in 7(b). However, if offered by CTC, the Licensee may elect to offset fees already paid against future days hire. Such fees will be deemed to be held in credit for future use by the Licensee.
Appears in 4 contracts
Samples: Hot Leasing Agreement, Hot Leasing Agreement, Hot Leasing Agreement
