MINIMUM & ATTRITION Sample Clauses

MINIMUM & ATTRITION. The Hotel is relying upon the food and beverage functions outlined on the Function Information Agenda/Event Agenda. The University agrees that a loss will be incurred by Hotel if there is a cancellation or reduction in the number of food and beverage functions and the number of food and beverage covers. The University agrees that it will provide Hotel total Event food and beverage revenue of $ , exclusive of gratuities, taxes or function room rental fees (“Agreed Event F&B Revenue”). If The University fails to provide Hotel with the full Agreed Event F&B Revenue, The University will pay Hotel within thirty (30) days, as liquidated damages and not as a penalty, the difference between the Agreed Event F&B Revenue and the Actual Event Food and Beverage Revenue received by Hotel. This amount will be charged as a meeting room rental fee and is subject to all applicable taxes and service charge. Hotel agrees that after receipt of this amount, it will not seek further damages resulting from the cancellation or attrition of such catered functions.
Sample 1
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