Common use of Payment Taxes Clause in Contracts

Payment Taxes. (a) Hotel agrees to pay the Participation Fee selected under page 5 of the TRAVELSAVERS Preferred Hotel Program Overview. In the event that Hotel fails to submit payment in full to TRAVELSAVERS when due, in addition to any other rights or remedies available to TRAVELSAVERS, TRAVELSAVERS shall assess interest based upon the greater of (i) the rate of 18% per annum; or (ii) the highest rate permitted by applicable law, as well as the cost of any fees and costs incurred by TRAVELSAVERS in collecting Hotel’s outstanding indebtedness (including attorney fees). If the Hotel agrees to participate in the TRAVELSAVERS Preferred Hotel Program, which is evidenced by the signature of an authorized representative of the Hotel, as required below (or e-signature if submitting the Contract by electronic means), such signature signifies agreement by the Hotel to the terms of this Agreement, including, but not limited to, these Terms and Conditions, and to pay for participation in the TRAVELSAVERS Preferred Hotel Program. Hotel shall remain liable for amounts due and owing: (i) in the event the person who signs this Agreement leaves the employ of the Hotel or the ownership or Hotel Management Company changes; and (ii) in the event during the term of the Agreement the Hotel closes for renovations. TRAVELSAVERS shall have the right to exclude Hotel from the TRAVELSAVERS Hotel Program for a period of two (2) years for nonpayment of fees.

Payment Taxes. (a) Hotel agrees to pay the Participation Fee selected under page 5 of the TRAVELSAVERS Preferred Hotel Program Overview. In the event that Hotel fails to submit payment in full to TRAVELSAVERS when due, in addition to any other rights or remedies available to TRAVELSAVERS, TRAVELSAVERS shall assess interest based upon the greater of (i) the rate of 18% per annum; or (ii) the highest rate permitted by applicable law, as well as the cost of any fees and costs incurred by TRAVELSAVERS in collecting Hotel’s outstanding indebtedness (including attorney fees). If the Hotel agrees to participate in the TRAVELSAVERS Preferred Hotel Program, which is evidenced by the signature of an authorized representative of the Hotel, as required below (or e-signature if submitting the Contract by electronic means), such signature signifies agreement by the Hotel to the terms of this Agreement, including, but not limited to, these Terms and Conditions, and to pay for participation in the TRAVELSAVERS Preferred Hotel Program. Hotel shall remain liable for amounts due and owing: (i) in the event the person who signs this Agreement leaves the employ of the Hotel or the ownership or Hotel Management Company changes; and (ii) in the event during the term of the Agreement the Hotel closes for renovations. TRAVELSAVERS shall have the right to exclude Hotel from the TRAVELSAVERS Hotel Program for a period of two (2) years for nonpayment of fees. Hotel and not TRAVELSAVERS shall be solely responsible for any and all taxes and/or other obligations associated with Hotel guests and/or receipt of Rate payments hereunder. Billing method (i.e. individual invoice, central invoice, etc.) is determined at time of signature.