Common use of Withdrawal from Participation Clause in Contracts

Withdrawal from Participation. 3.1 Notwithstanding Clause 2.2, the Exhibitor may withdraw its participation from the Exhibition by giving a notice in writing to the Organizer (“Withdrawal Notice”), which notice must reach the Organizer at least 90 days prior to the opening date of the Exhibition and, once served, shall be irrevocable unless it is expressly waived by the Organizer. The withdrawal by the Exhibitor shall only be effective after and on condition that the Exhibitor receives a written acceptance from the Organizer in respect thereof and the Exhibitor has paid the Withdrawal Fees set forth in Clause 3.2. 3.2 As a condition to effectuate the withdrawal, the Exhibitor shall pay Withdrawal Fees equivalent to 50% of the total Contract Fees payable herein (“Withdrawal Fees”). If by the time of the service of the Withdrawal Notice the Exhibitor has already paid to the Organizer the Contract Fees or any parts thereof or any other payments which exceed the Withdrawal Fees, the Organizer may at its discretion deduct the Withdrawal Fees from the amount so paid by way of set-off and thereafter refund the balance thereof, if any, to the Exhibitor. If by the time of the service of the Withdrawal Notice the Exhibitor is yet to pay the Contract Fees or any parts thereof or, even if the Exhibitor has paid but the amount of which is less than the Withdrawal Fees, the Exhibitor shall forthwith make payment within 15 days of the Withdrawal Notice to the Organizer of the Withdrawal Fees or any insufficient part thereof (after setting off the payment which has been paid prior thereto, if any) to make up the Withdrawal Fees. 3.3 No request of withdrawal by the Exhibitor will be accepted if no Withdrawal Notice is given to the Organizer or the Withdrawal Notice reaches the Organizer less than 90 days prior to the opening date of the Exhibition in which case the Organizer shall not be required to make any refund to the Exhibitor.