Cancellation Damages. If this agreement is terminated for any of the reasons listed above, then at the option of University: A) student shall immediately pay University as damages hereunder the amounts described herein; and B) student shall also indemnify University from and against any loss and damage sustained by University by reason of the termination, including, but not limited to: any loss of rents, any damages incurred to the property, and any claims of injury to student or third persons. The University shall also be entitled to any and all other rights and remedies provided by law. All rights and remedies of university are to be cumulative and not exclusive.
Cancellation Damages. College agrees and understands that, in the event of a cancellation or lack of full performance by College, the Catering Company’s actual damages would be difficult to determine. Therefore, College agrees that should it cancel College’s Event for any reason other than due to a force majeure event, including changing College meeting/function site to another hotel, College will pay as liquidated damages and not as a penalty, a percentage of the Total Anticipated Revenue for College’s Event, plus any applicable state and/or local taxes as required by law, calculated as follows: Date of ’s Receipt of Cancellation Notice Percentage of Total Minimum Anticipated Revenue Amount of Cancellation Damages Owed Cancellation between date of signing and 90 days prior to arrival: 10 % of cost = $0.00 Cancellation between 89 days and 30 days: 15 % of cost = $0.00 Cancellation between 29 and 20 % of cost = $0.00
Cancellation Damages. If this Agreement is terminated by the Occupant, or due to Occupant’s loss of eligibility under this Agreement, prior to the end of the term, the Occupant must pay as liquidated damages $1000 or the remainder of the rent due, whichever is less.
Cancellation Damages. If Sub-Lessee does not receive FDIC, State of Nevada and County of Washoe approvals for operation, Sub-Lessee may cancel this Agreement in writing to Sub-Lessor with the following damages due and payable immediately to Sub-Lessor:
Cancellation Damages. You guarantee that your Event will provide the Total Anticipated Revenue. You agree and understand that, in the event of a cancellation or lack of full performance by you, our actual damages would be difficult to determine. Therefore, you agree that should you cancel your Event for any reason other than due to a valid Impossibility occurrence, including changing your meeting/function site to another hotel, you will pay as liquidated damages and not as a penalty, a percentage of the Total Anticipated Revenue for your Event, plus any applicable state and/or local taxes as required by law, calculated as follows: ADVISORY NOTE: FOR MEETINGS BOOKED 3-6 MONTHS OUT, YOU MUST HAVE AT LEAST 3 TIERS IN THE CANCELLATION GRID. FOR MEETINGS BOOKED 6-12 MONTHS OUT, YOU MUST USE AT LEAST 4 CANCELLATION TIERS IN THE CANCELLATION GRID. FOR MEETINGS BOOKED MORE THAN A YEAR OUT, ADDITIONAL TIERS ARE RECOMMENDED. THESE ADDITIONAL TIERS ARE NEEDED BECAUSE THE DAMAGE AMOUNTS ARE TO BE AN ESTIMATE OF YOUR LOSS AND YOUR ABILITY TO MITIGATE. IT IS NOT REASONABLE TO ESTIMATE THAT YOU WOULD HAVE NO BETTER CHANCE OF MITIGATING 6 MONTHS OUT THAN YOU WOULD HAVE 3 MONTHS OUT. Date of Hotel’s Receipt of Cancellation Notice Percentage of Total Anticipated Revenue Amount of Cancellation Damages Cancellation between date of signing and <date>: <amount> % = $<amount> Cancellation between <date> and <date>: <amount> % = $<amount> Cancellation between <date> and <date>: <amount> % = $<amount> Cancellation between <date> and date of arrival: <amount> % = $<amount> Total Anticipated Revenue for this Event is $«tot_total_dollars». [must be same amount as in the Summary table at beginning of contract] Payment of cancellation damages is due (choose one:) <at the same time that you deliver your written notice of cancellation to the Hotel OR within 30 days following your written notice of cancellation to us>. We may consider your notice of cancellation to be invalid and thus may not release accommodations held until payment of the applicable cancellation damages is received; therefore delay in payment may result in higher cancellation damages owed. [Optional:] Should you wish to confirm the accurate calculation of the applicable cancellation damages payment, you may contact us and request that we prepare a statement detailing the applicable cancellation damages payment, plus any applicable state and local taxes. We will subtract any advance payments and deposits previously paid by you to us. [Optiona...
Cancellation Damages. You guarantee that your Event will provide the Total Minimum Anticipated Revenue. You agree and understand that, in the event of a cancellation or lack of full performance by you, our actual damages would be difficult to determine. Therefore, you agree that should you cancel your Event for any reason other than due to a valid Impossibility occurrence, including changing your meeting/function site to another hotel, you will pay as liquidated damages and not as a penalty, a percentage of the Total Anticipated Revenue for your Event, plus any applicable state and/or local taxes as required by law, calculated as follows: Date of Hotel’s Receipt of Cancellation Notice Percentage of Total Minimum Anticipated Revenue Owed Amount of Cancellation Damages Owed Cancellation between date of signing and December 31, 2014: 25 % = $2,250 Cancellation between January 1, 2015 and February 28, 2015: 50 % = $4,500 Cancellation between March 1, 2015 and date of arrival 100 % = $9,000 Payment of cancellation damages is due within 30 days following your written notice of cancellation to us>. We may consider your notice of cancellation to be invalid and thus may not release accommodations held until payment of the applicable cancellation damages is received; therefore delay in payment may result in higher cancellation damages owed. IMPOSSIBILITY: Neither party shall be responsible for failure to perform this Agreement if circumstances beyond their reasonable control (including, but not limited to: acts of God; terrorist attacks in the city in which Hotel is located; or declared war in the United States) make it illegal or impossible for the Hotel to hold the Event. The affected party may terminate this Agreement without liability upon written notice to the other party within ten (10) days of the occurrence. INDEMNIFICATION: To the fullest extent permitted by law, you agree to protect, indemnify, defend and hold harmless the Hotel, Hotel’s Owner, and Hilton Worldwide, Inc., and each of their respective owners, managers, partners, subsidiaries, affiliates, officers, directors, employees and agents (collectively, the “Hotel Indemnified Parties”), from and against any and all claims, losses or damages to persons or property, governmental charges or fines, penalties, and costs (including reasonable attorney’s fees) (collectively, “Claim(s)”), in any way arising out of or relating to the Event that is the subject of this Agreement to the extent such any such Claim(s) arise out of the ...
