Deposits for Bookings Clause Samples
The 'Deposits for Bookings' clause establishes the requirement for a customer to pay a specified deposit amount when making a reservation or booking. Typically, this deposit is collected upfront to secure the booking and may be applied toward the total cost or held as security against cancellation or damages. This clause ensures that the service provider is protected against last-minute cancellations or no-shows by securing a financial commitment from the customer, thereby reducing the risk of lost revenue.
Deposits for Bookings. Purchaser shall receive a credit for all prepaid deposits for Bookings scheduled for accommodations or events on or after the Closing Date which Purchaser is obligated to honor pursuant to this Agreement, except to the extent such deposits are transferred to Purchaser.
Deposits for Bookings. Buyer shall assume all of the obligations of Seller under the Bookings and Golf Event Contracts as of the Cut-Off Time, including obligations with respect to any prepaid amounts and deposits under the Bookings Deposits not earned as of the Cut-Off Time, and Buyer shall receive a credit for all prepaid deposits for Bookings and Golf Event Contracts scheduled for accommodations or events on or after the Closing Date which Buyer is obligated to honor pursuant to this Agreement, except to the extent such deposits are transferred to Buyer. Seller shall receive a credit for all prepaid commissions with respect to Bookings or other event contracts which were paid prior to the Cut-Off Time for events or Bookings which will occur following the Cut-Off Time.
Deposits for Bookings. Buyer shall assume all of the obligations of Seller under the Bookings and Golf Event Contracts as of the Cut-Off Time, including obligations with respect to any prepaid amounts and deposits under the Bookings Deposits not earned as of the Cut-Off Time, and Buyer shall receive a credit for all prepaid deposits for Bookings and Golf Event Contracts scheduled for accommodations or events on or after the Closing Date which Buyer is obligated to honor pursuant to this Agreement, except to the extent such deposits are transferred to Buyer. Seller shall receive a credit for all prepaid commissions with respect to Bookings or other event contracts which were paid prior to the Cut-Off Time for events or Bookings which will occur following the Cut-Off Time.