Common use of Payment Deposit Clause in Contracts

Payment Deposit. Member agrees to pay the initial facility deposit at least two (2) weeks prior to the event. Reservations cannot be guaranteed until deposit has been received. Lack of receipt of the required deposit, as set forth in this agreement, will be grounds for cancellation of said event. The remainder of the unpaid balance is due the date of the event, or sooner, unless other arrangements have been made.