Common use of Cancellation by University Clause in Contracts

Cancellation by University. University may cancel its reservation without cause, up to seven days prior to the date of first event or room booking under this Contract. In the event University cancels without cause less than seven days prior to the date of first event or room booking under this Contract, University will pay the difference between the amount owed by University and any revenue received by Contractor to relet rooms and spaces formerly reserved to University. Any funds paid by University as liquidated damages will be counted as a credit toward the use of the Contractor’s facilities for one year from the date of the canceled event, use of rooms, or use of space. Notwithstanding the foregoing, University shall not be obligated to pay any amount for cancellation of the rooms and/or space if Contractor is able to relet the reserved rooms and/or space. Contractor shall make every effort to cover and relet rooms and spaces formerly reserved to University and cover and reallocate all deliverables reserved for University. Contractor shall provide a description of all such efforts in an invoice.