Common use of Postponement or Cancellation Clause in Contracts

Postponement or Cancellation. If Organization postpones or cancels any Assessment within 21 days from the first day of the agreed assessment date, PJRFSI will charge a fee equal to the greater of 50% of the quoted Assessment Fee, or one day at the per-day rate applicable at that time, PLUS the cost, at the prevailing per-day rate, of any work performed to date, PLUS any non-recoverable travel and lodging expenses incurred. These charges are not credited against any subsequent charges incurred by Organization. In an emergency situation, Organization may request and PJRFSI may waive these charges, in PJRFSI’s sole and absolute discretion. The President of PJRFSI prior to the first day of the originally scheduled audit dates must sign such a waiver.

Postponement or Cancellation. If Organization postpones or cancels any Assessment within 21 days from the first day of the agreed assessment date, PJRFSI will charge a fee equal to the greater of 50% of the quoted Assessment Fee, or one day at the per-day rate applicable at that time, PLUS the cost, at the prevailing per-day rate, of any work performed to date, PLUS any non-recoverable travel and lodging expenses incurred. These charges are not credited against any subsequent charges incurred by Organization. In an emergency situationemergency, Organization may request and PJRFSI may waive these charges, in PJRFSI’s sole and absolute discretion. The President of PJRFSI prior to the first day of the originally scheduled audit dates must sign such a waiver.