Common use of Reservation Fee Clause in Contracts

Reservation Fee. The Reservation Fee is a prepaid portion of the "Total Contract Amount" and is due at the time of contract submission. It constitutes a payment for securing a housing reservation and is applied toward the total contract amount. It is not a refundable security deposit. If the STUDENT fails to take occupancy, the Reservation Fee will be applied to the unpaid balance on the account, including room and liquidated damages fees. If a portion of the reservation fee has been deferred and has not been paid by the agreed upon due date, action may be taken to cancel this contract.

Reservation Fee. The Reservation Fee is a prepaid portion of the "“Total Contract Amount" ” and is due at the time of contract submission. It constitutes a payment for securing a housing reservation and is applied toward the total contract amount. It is not a refundable security deposit. If the STUDENT fails to take occupancy, the Reservation Fee will be applied to the unpaid balance on the account, including room and liquidated damages fees. If a portion of the reservation fee has been deferred and has not been paid by the agreed upon due date, action may be taken to cancel this contract.

Reservation Fee. The Reservation Fee is a prepaid portion of the "Total Contract Amount" and is due at the time of contract submission. It constitutes a payment for securing a housing reservation and is applied toward the total contract amount. It is not a refundable security deposit. If the STUDENT fails to take occupancy, the Reservation Fee will be applied to the unpaid balance on the account, including room and liquidated damages fees. If a portion of the reservation fee has been deferred and has not been paid by the agreed upon due date, action may be taken to cancel this contract.