CANCELLATION BY GROUP Sample Clauses

CANCELLATION BY GROUP. The following table contains an estimate (which the parties acknowledge and agree is reasonable) of the revenue to be generated from the Group’s use of the Hotel. The table itself is not intended to warrant that the Group’s use of the Hotel will generate these amounts of revenue. Neither is the table intended to prevent Hotel from generating more than these amounts of revenue from the Group’s use of the Hotel. Total Anticipated Sleeping Room Revenue $2,142.00 Total Anticipated Revenue** $2,200.00 ** This figure does not include service charges, taxes or fees for services by any authorized outside vendors. Group acknowledges that if it cancels or otherwise substantially abandons the Agreement (a “Cancellation”), Hotel will be harmed. Group further acknowledges that the later Group notifies Hotel of a Cancellation, the more harm Hotel will likely incur, because Hotel will have less time to mitigate its damages by marketing the sleeping room nights to other customers and individual guests. Group also acknowledges that the actual amount of Hotel’s damages from any Cancellation would be difficult to calculate. Therefore, the parties agree that if a Cancellation should occur for any reason (including Group’s relocation to another hotel or resort), then Group shall pay Hotel, as liquidated damages and not as a penalty, the applicable amount identified below, plus any applicable taxes (a “Cancellation Fee”). [Date of Agreement] to [Arrival Date] $1,100.00 Group must provide Hotel any notice of a Cancellation in writing. If Group does not provide written notice of any Cancellation, then Hotel may assess any higher Cancellation Fee owed under the above schedule at the time it receives written confirmation of the Cancellation or the highest amount identified above if it receives no written confirmation. The parties agree that the amounts in the above schedule are based on reasonable estimates of Hotel’s harm from Cancellation. Any Cancellation Fee will be added to the Master Account. Any Cancellation Fee shall be due and payable immediately upon Cancellation.