Reservation Agreement Sample Clauses
A Reservation Agreement is a contractual provision that allows a party to reserve a specific right, property, or service for a defined period, typically in exchange for a fee or deposit. In practice, this clause is commonly used in real estate transactions, where a buyer pays a reservation fee to secure the exclusive right to purchase a property while final terms are negotiated. The agreement outlines the conditions under which the reservation is held, the duration of the reservation, and the consequences if either party fails to proceed. Its core function is to provide certainty and exclusivity for the reserving party, preventing others from claiming the same right or asset during the reservation period.
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Reservation Agreement. Developer is engaged in the planning and development of the Community and intends to enter into nonbinding Reservation Agreements upon approval of the Conditional Use Permit (“CUP”) for the Community. Shortly following issuance of the CUP, the Developer shall send to the Prospective Purchaser, depending upon its respective position in line in relation to other prospective purchasers, a notice of opportunity to select a Townhome within the Community and to enter into a Reservation Agreement (“Notice of CUP and Opportunity to Select”). The Prospective Purchaser shall have a certain number of hours from the time the Developer sent the notice to identify the Townhome and to return the signed nonbinding Reservation Agreement to the Developer. The Developer shall expressly specify the time period for responding to the Notice of CUP and Opportunity to Select. The Prospective Purchaser shall then deposit any required refundable reservation deposit with the Escrow Agent within three (3) days of the date of the original notice. IF AFTER RECEIVING THE NOTICE OF CUP AND OPPORTUNITY TO SELECT THE PROSPECTIVE PURCHASER FAILS TO TIMELY IDENTIFY A TOWNHOME, RETURN THE RESERVATION AGREEMENT, AND/OR MAKE THE DEPOSIT, THEN PROSPECTIVE PURCHASER SHALL BE DEEMED TO HAVE ELECTED TO NOT ENTER INTO A RESERVATION AGREEMENT AND THIS RESERVATION OF INTEREST SHALL AUTOMATICALLY TERMINATE, whereupon Developer shall give notice to Escrow Agent and Escrow Agent is authorized and directed to return the Deposit to Prospective Purchaser. Prospective Purchaser shall have no further rights in relation to this Reservation of Interest at that time.
Reservation Agreement. I have read and will comply with the Terms and Conditions accompanying this form, including cancellation policy, regarding the NAPEO’s 2022 Annual Conference & Marketplace. AUTHORIZED SIGNATURE (Required for acceptance of space rental agreement): PRINTED NAME: DATE:
Reservation Agreement. Guests acknowledge, understand, and agree that the moment the Guest gives the Agent their credit card information, Agents are authorized to charge said credit card for the rental amount agreed upon including any additional room fees, cleaning fees, and/or 12% lodging tax. A $59 Reservation Fee is applied to all reservations. Starting price is generally based on 4 guests/2 bedrooms; read individual cabin amenities for pricing. Cancellation Policy will govern any cancellation, rescheduling, or change after the credit card authorization. GUESTS MAKING A RESERVATION (and all guests staying on the property) MUST BE AT LEAST 25 YEARS OLD and, by submitting their reservation, they are confirming that they 25 years old or older. This does NOT apply to families with children. We do allow married couples (under the age of 25) to stay in our 1 or 2 bedroom cabins. Please call our office for prior approval at 888 -875-5669.
Reservation Agreement. If you wish to reserve a Section (defined below) in the development known as THE RUBIK and as described at the website link ▇▇▇.▇▇▇▇▇▇▇▇.▇▇.▇▇ (the “Development”), you hereby agree to be bound by these terms and conditions contained herein by selecting, clicking and accepting the terms and conditions on The Rubik website and by clicking “Book Unit” on the relevant page relevant to the aforementioned development (▇▇▇.▇▇▇▇▇▇▇▇.▇▇.▇▇).
Reservation Agreement. Each reservation of the aircraft by the Customer on Flight Circle reaffirms the Customer’s agreement to the terms and conditions of this Agreement.
Reservation Agreement. At the Closing, Prime and ShoLodge shall enter into an agreement (the "Reservation Agreement") in form and substance reasonably satisfactory to Prime and ShoLodge whereby ShoLodge will agree to provide to Prime, and Prime will engage ShoLodge to provide, exclusive reservation services for all proprietary brand hotels owned, operated or franchised by Prime or any Affiliate of Prime (including the Sumn▇▇ ▇▇▇tes hotels acquired by a Prime Subsidiary as contemplated herein, but such Sumn▇▇ ▇▇▇tes hotels may be removed from the ShoLodge reservation system upon conversion to the AmeriSuites brand in Prime's sole discretion if the Reservation Agreement has not then become effective as described in subparagraph (d) below). The Reservation Agreement, among other provisions, will contain the following terms:
(a) The term of the Reservation Agreement will be for five (5) years from the date the Reservation Agreement becomes effective as described in subparagraph (d) below and ShoLodge begins providing reservation services thereunder for all or all but an insignificant number of such proprietary brand hotels owned, operated or franchised by Prime or any Affiliate of Prime, but Prime will have a right to terminate the Reservation Agreement without penalty at any time upon one hundred twenty (120) days prior written notice to ShoLodge, such notice not to be given earlier than the date two (2) years after the Reservation Agreement becomes effective as described in subparagraph (d) below and ShoLodge begins providing reservation services thereunder for all or all but an insignificant number of such proprietary brand hotels owned, operated or franchised by Prime or any Affiliate of Prime; provided, however, in the event any of the Hotels are removed from the ShoLodge reservation system, such two (2) year period during which notice of termination may not be given shall be extended for a period equal to the shorter of (i) the time one (1) or more of the Sumn▇▇ ▇▇▇tes hotels acquired by a Prime Subsidiary as contemplated herein is not on the ShoLodge reservation system, or (ii) three (3) months.
(b) The Reservation Agreement will provide that Prime will pay a monthly fee to ShoLodge in the amount of one percent (1%) of gross room revenues and will pay customary pass through costs such as commissions and global distribution system fees.
(c) The Reservation Agreement will provide that Prime will have the right of first offer and the right of first refusal with respect to any pr...
Reservation Agreement. Each reservation of the aircraft by the Customer on the Flight
Reservation Agreement. ACKNOWLEDGMENT AND EXECUTION
Reservation Agreement. If you wish to reserve a Section (defined below) in the development known as THE ▇▇▇▇▇ and as described at the website link ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇ (the “Development”), you hereby agree to be bound by these terms and conditions contained herein by selecting, clicking and accepting the terms and conditions on the Craft Homes website and by clicking “Book Unit” on the relevant page relevant to the aforementioned development (▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇).
Reservation Agreement. For unbuilt residences, the agreement executed by Resident upon payment of the ten percent (10%) deposit.