Use Request/Reservation Deposit. To reserve the Licensed Area, User must complete, execute and deliver this Agreement to the Commission. Upon confirmation of the Reserved Dates, the User must make a reservation deposit ("Reservation Deposit") within fourteen (14) days of the execution of this Agreement. Except as provided for below, the Reservation Deposit will be equal to ten percent (10%) of the User Fee to be charged for the use of the Licensed Area. If the Reservation Deposit is not made within ten (10) days of execution of this Agreement, a late fee of 5% of the Reservation Deposit will be added to the Reservation Deposit. The Reservation Deposit will be non-refundable unless this Agreement is cancelled by Commission for a reason other than the breach of this Agreement by User and applied to the User Fees as defined below. If the Reservation Deposit is not paid in full within the fourteen (14) day period, the Commission may elect to cancel this Agreement and retain all funds paid hereunder.
Appears in 5 contracts
Samples: Campus Use Agreement, Campus Use Agreement, Campus Use Agreement
