Common use of Downsizing Clause in Contracts

Downsizing. The amount of space reserved may be reduced by Exhibitor by giving written notice to BIOTECH Management, subject to the following: On or before 30 April 2017 Exhibitor must pay 50% of the original Contract price, which amount may be applied against the reduced space. Any remaining amounts previously paid by Exhibitor will be refunded. After 1 May 2017: Exhibitor must pay 100% of the original Contract price, which amount may be applied against the reduced space. Any payment in excess of the cost of the new space is non-refundable.

Downsizing. The amount of space reserved may be reduced by Exhibitor by giving written notice to BIOTECH Management, subject to the following: On or before 30 April 2017 2018 Exhibitor must pay 50% of the original Contract price, which amount may be applied against the reduced space. Any remaining amounts previously paid by Exhibitor will be refunded. After 1 May 20172018: Exhibitor must pay 100% of the original Contract price, which amount may be applied against the reduced space. Any payment in excess of the cost of the new space is non-refundable.

Downsizing. The amount of space reserved may be reduced by Exhibitor by giving written notice to BIOTECH Management, subject to the following: On or before 30 April 2017 May 2021 Exhibitor must pay 50% of the original Contract price, which amount may be applied against the reduced space. Any remaining amounts previously paid by Exhibitor will be refunded. After 1 May 2017June 2021: Exhibitor must pay 100% of the original Contract price, which amount may be applied against the reduced space. Any payment in excess of the cost of the new space is non-refundable.