Common use of ATTRITION CLAUSE Clause in Contracts

ATTRITION CLAUSE. The parties agree that BoCo Enterprises will suffer a loss in revenues in the event of the Licensee’s failure to utilize all of the meeting/banquet rooms and services agreed to herein. The Licensee therefore agrees to pay for lost revenue. For meeting room rental, the lost revenue will be calculated by multiplying the number of rooms not utilized by the amount of rent agreed to be paid, plus tax. The Licensee will be responsible for paying the amount indicated by that calculation and will be due regardless of BoCo Enterprises ultimate ability to re-sell some or all of the space or services.