Attrition Fee definition

Attrition Fee. If the Group’s actual room usage falls below 75% of the original Room Block or 75% of the adjusted Room Block, if applicable, the Group agrees to pay 75% of the average Group Rate for each room night below the 75% threshold (the “Attrition Fee”). Attrition Fees shall not be subject to tax. Hotel shall add the Attrition Fees to the Master Account.
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Examples of Attrition Fee in a sentence

  • The Group shall not pay Attrition Fee on any “off-line rooms” (i.e. rooms being remodeled or not used for any reason).

  • The Attrition Fee is calculated as 100% of Estimated Room Revenue for the Attrition Rooms.

  • If the Hotel is able to resell any of the Attrition Rooms, such rooms will not be included in the calculation of the Attrition Fee.

  • Hotel shall waive the Attrition Fee if the parties agree to use Hotel’s services in connection with a future event of comparable size (a comparable number of room nights and a comparable Food & Beverage Order (as defined below)) within the twenty-four (24) months following the Event Dates.

  • Payment of Attrition Fee Where Attrition exceeds the permitted attrition allowance, the Attrition Fee and any related taxes will be added to the Event’s final invoice.

  • The parties agree that (i) Attrition Fee is a reasonable estimate of the Hotel’s damages in the event that the Group does not fully utilize the room nights in the Room Block; and (ii) the Attrition Fee does not constitute a penalty.

  • Together with its invoice for the Attrition Fee, the Hotel will submit to North America Science Fiction Convention a copy of the city ledger occupancy report documenting how many guestrooms that were available for sale remained unoccupied on each day of the Room Block.

  • As an additional accommodation to North America Science Fiction Convention, the Hotel agrees that, to the extent that the Hotel is able to "resell" that portion of the Room Block returned into inventory (as a result of attrition), the Attrition Fee will be reduced by North America Science Fiction Convention's average single rate multiplied by the number of rooms resold.

  • Notwithstanding the above, up to 21 days prior to the arrival date Royal Media is permitted an attrition allowance of up to 1020% of anticipated revenue from the Room Block commitment, without being assessed an Attrition Fee, in accordance with this provision, provided the Event is not fully canceled.

  • Notwithstanding the above, up to 21 days prior to the arrival date Royal Media is permitted an attrition allowance of up to 10% of anticipated revenue from the Room Block commitment, without being assessed an Attrition Fee, in accordance with this provision, provided the Event is not fully canceled.