FOOD AND BEVERAGE MINIMUMS Sample Clauses
The 'Food and Beverage Minimums' clause sets a required minimum amount that must be spent on food and beverage services during an event or within a contract period. Typically, this clause applies to venue rentals, conferences, or banquets, where the client agrees to purchase at least a specified dollar value of catering or bar services, regardless of actual consumption. Its core function is to guarantee the venue or service provider a baseline revenue from food and beverage sales, helping them manage costs and allocate resources efficiently.
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FOOD AND BEVERAGE MINIMUMS. Group agrees to provide a minimum of $50,000.00 in banquet food and beverage revenue (excluding tax and service charge). Should the Group’s banquet food and beverage revenue fall below this amount, the Group will be responsible for the difference between the minimum banquet food and beverage revenue and the actualized food and beverage revenue multiplied by 40% (minimum food and beverage revenue minus actualized food and beverage revenue multiplied by 40%), plus any applicable taxes. This amount will be placed on the Group’s Master Account. The Hotel and Group intend to liquidate damages in the event the Group fails to meet the food and beverage minimum set forth in this section. Therefore, the Hotel and Group agree (a) that the above formula is a reasonable estimate of the Hotel’s damage in the event the minimum set forth in this section is not met and (b) that the liquidated damages set forth in this section do not constitute a penalty. All banquet food and beverage arrangements must be made through the Hotel. Only food and beverage purchased from Hyatt may be served on Hotel property. The Hotel reserves the right to cease service of alcoholic beverages in the event that persons under the state mandated age limit are present at the function and attempt to receive service of alcoholic beverages. Hotel further reserves the right to deny alcoholic beverage service to guests who appear to be intoxicated.
FOOD AND BEVERAGE MINIMUMS. A minimum of $1872.00++ must be spent in food and non-alcoholic beverage sales, over entire meeting dates. This minimum does not include the Hotel’s 22% Service Charge or State Tax. Service Charge and State Tax are subject to change. If less is spent in food and non-alcoholic beverage sales, the difference will be charged in (additional) room rental fees.
FOOD AND BEVERAGE MINIMUMS. Based on the Event agenda set forth above, and by agreement of the Parties, Group acknowledges and agrees that it shall be required to spend a minimum of $6,000.00 in food and beverage (“Food and Beverage”) charges for the Function (such amount, the “F&B Minimum” or “Guaranteed Amount”). The F&B Minimum is exclusive of taxes or service charges, including without limitation, the Service Charge, room rental, meeting space rental, prevailing administrative charges, labor or audio/visual charges, additional electrical needs, parking and/or any other miscellaneous charges incurred by Hotel or Group for the Event. Group is required to pay Hotel the full Guaranteed Amount, regardless of whether Group actually charges or incurs that amount, and Group shall also be required to pay Hotel any amounts exceeding the Guaranteed Amount. All such charges shall be billed to Group’s Master Account and will be subject to applicable sales tax. Group acknowledges that if Group’s final guest count (each a “Guest” and collectively the “Guests”) drops below the Guest Commitment identified above or if Guest holds the Event, but does not generate the F&B Minimum (whether due to Cancellation of the Event, reduced attendance of such Event or otherwise), then Hotel will be harmed, and that the precise amount of such harm would be difficult to calculate. Therefore, the Parties agree that if the Event is held, but less than the F&B Minimum is generated from sales of Food and Beverages at the Event (the “Food and Beverage Revenue”), not including any Service Charge, tips, tax, audio-visual, parking or any other miscellaneous charges, then Group shall pay Hotel, as liquidated damages and not as a penalty, an amount equal to the difference between the F&B Minimum and the actual Food and Beverage Revenue generated during the Event (the “Food and Beverage Performance Fee”). Any Food and Beverage Performance Fee will be added to the Master Account as a meeting room rental fee.
FOOD AND BEVERAGE MINIMUMS. The greater of actual charges at the New Club or 50% of the applicable food and beverage minimum must be expended at the Seven Canyons Golf Club (New Club). For those members with a Food and Beverage balance at the end of the year, such balance (not to exceed 50% of the New Club minimum) may be transferred to a gift card or equivalent and expended at Enchantment during the following year. This arrangement shall continue until the Clubhouse is completed at which point the entire Food and Beverage minimum must be expended at the New Club.
FOOD AND BEVERAGE MINIMUMS. A food and beverage minimum expenditure not including the 20% service fee, plus 7.5% sales tax is hereby agreed upon by Client and ▇▇▇▇ ▇▇▇▇▇▇▇. At the conclusion of your Event, any difference between the minimum amount and obligation that is not met will be billed in the form of room rental. In this case the minimum expenditure is $ . CUSTOMER INITIAL DUE DATES: Final menu selections must be submitted to, and received by ▇▇▇▇ ▇▇▇▇▇▇▇ no later than 7 business days from the date of the event. Final head count numbers are to be submitted to, and received by ▇▇▇▇ ▇▇▇▇▇▇▇ no later than 7 business days from the date of the event. In this case the due date for final head count with menu selections is . CUSTOMER INITIAL CUSTOMER INITIAL _ GUARANTEE: Guaranteed head count numbers and pre order menu selections are to be submitted to, and received by ▇▇▇▇ ▇▇▇▇▇▇▇ no later than 10 business days from the date of the event. This number is not to be exceeded once provided unless prior approval is given by ▇▇▇▇ ▇▇▇▇▇▇▇. You will be charged the guaranteed number, or the number actually served, whichever is greater. ▇▇▇▇ ▇▇▇▇▇▇▇ can prepare for 5% above the guaranteed number, if requested within 24 hours of event. For groups with assigned seating, please submit your diagram with your guaranteed number. In this case the guarantee date is . CUSTOMER INITIAL