Common use of CANCELLATION ASSESSMENTS Clause in Contracts

CANCELLATION ASSESSMENTS. UCF DHRL will charge fees and/or assessments if this agreement is cancelled by action of the Student or UCF DHRL. The amount of the cancellation assessment is not a penalty, but liquidated damages to compensate UCF DHRL for lost rental revenue, additional administrative costs, and lost opportunity costs arising from and related to the cancellation of the agreement. Cancellation assessments are due and payable upon the date the cancellation request is submitted to UCF DHRL. Cancellation assessments will be charged and appear on the Student’s UCF student account in the semester the cancellation request is submitted and will be included as outstanding rental amounts for the purpose of determining late fees.

CANCELLATION ASSESSMENTS. UCF DHRL will charge fees and/or assessments if this agreement Agreement is cancelled by action of the Student or by UCF DHRLDHRL through administrative cancellation. The amount of the cancellation assessment is not a penalty, but liquidated damages to compensate UCF DHRL for lost rental revenue, additional administrative costs, and lost opportunity costs arising from and related to the cancellation of the agreementAgreement. Cancellation assessments are due and payable upon the date the cancellation request is submitted to UCF DHRL. Cancellation assessments will be charged and appear on the Student’s UCF student account in the semester the cancellation request is submitted and will be included as outstanding rental amounts for the purpose of determining late fees.