Cancellation, Withdrawal & Downsizing; Liquidated Damages. The parties agree that quantifying losses arising from Exhibitor’s cancellation, withdrawal or downsizing of the Exhibit Space is inherently difficult, as Shoppe Object shall incur expenses, allocate resources and take other actions in connection with the tasks necessary to facilitate and manage the Show. The parties further agree that the agreed upon sum is not a penalty, but rather a reasonable measure of damages based upon the parties’ experience in the exhibition industry and the nature of the losses that may result from such cancellation, withdrawal or downsizing of Exhibit Space. Exhibitor must provide written notice to Shoppe Object for any cancellation, withdrawal or downsizing. The date Shoppe Object receives such notice shall be the effective date of such cancellation, withdrawal or downsizing (the “Effective Date”). Any cancellation, withdrawal or downsizing by Exhibitor entitles Shoppe Object to (1) a US$1,000 processing fee and (2) if such notice is not received within 60 days of the Show, 100% of the original booth fee. If, at the Effective Date, Exhibitor has already paid fees in an amount greater than the liquidated damages amount owed, Shoppe Object shall refund the difference between the amount already paid and the liquidated damages amount to Exhibitor. Any cancellation by Shoppe Object due to any Force Majeure as defined in Section 33 entitles the Exhibitor to receive the entire deposit, less $2500 which will be applied towards Shoppe Online.
Cancellation, Withdrawal & Downsizing; Liquidated Damages. The parties agree that quantifying losses arising from Exhibitor’s cancellation or withdrawal is inherently difficult, as Shoppe Object shall incur expenses, allocate resources and take other actions in connection with the tasks necessary to facilitate and manage the Virtual Marketplace. Any cancellation, withdrawal or downsizing by Exhibitor shall entitle Shoppe Object to (1) a US$1,000 processing fee and (2) if such notice is within 45 days of the Virtual Marketplace launch, 100% of the original fee. If, at the Effective Date, Exhibitor has already paid fees in an amount greater than the liquidated damages amount owed, Shoppe Object shall refund the difference between the amount already paid and the liquidated damages amount to Exhibitor. The parties further agree that the agreed upon sum described in this Section 7 is not a penalty, but rather a reasonable measure of damages based upon the parties’ experience in the industry and the nature of the losses that may result from such cancellation or withdrawal from the Virtual Marketplace.
