Common use of CANCELLED ORDERS Clause in Contracts

CANCELLED ORDERS. 22.1. A Cancellation Fee shall be charged on any Cancelled Order as follows: 22.1.1. No Cancellation Fee shall be applicable if the Order is cancelled 21 days prior to commencement of Hire Period. 22.1.2. A 25% Cancellation Fee will be applicable if the Order is cancelled 14-20 days prior to commencement of Hire Period. 22.1.3. A 50% Cancellation Fee will be applicable if the Order is cancelled 7 - 13 days prior to commencement of Hire Period. 22.1.4. A 75% Cancellation Fee will be applicable if the Order is cancelled 3 - 7 days prior to commencement of Hire Period. 22.1.5. A 100% Cancellation Fee will be applicable if the Order is cancelled less than 72 hours prior to commencement of Hire Period. 22.2. Notwithstanding the provisions of clause 21.1 above, where Equipment is manufactured or purchased by the Owner specifically for the Order, the Hirer will be charged a Cancellation Fee of 100% regardless of the period. 22.3. The Hirer hereby acknowledges that should the Hirer cancel an Order, the Owner will suffer a financial loss and accordingly agrees that the Cancellation Fee set out above is fair and reasonable.

CANCELLED ORDERS. 22.121.1. A Cancellation Fee shall be charged on any Cancelled Order as follows: 22.1.121.1.1. No Cancellation Fee shall be applicable if the Order is cancelled 21 days prior to commencement of Hire Period. 22.1.221.1.2. A 25% Cancellation Fee will be applicable if the Order is cancelled 14-20 days prior to commencement of Hire Period. 22.1.321.1.3. A 50% Cancellation Fee will be applicable if the Order is cancelled 7 - 13 days prior to commencement of Hire Period. 22.1.421.1.4. A 75% Cancellation Fee will be applicable if the Order is cancelled 3 - 7 days prior to commencement of Hire Period. 22.1.521.1.5. A 100% Cancellation Fee will be applicable if the Order is cancelled less than 72 hours prior to commencement of Hire Period. 22.221.2. Notwithstanding the provisions of clause 21.1 above, where Equipment is manufactured or purchased by the Owner specifically for the Order, the Hirer will be charged a Cancellation Fee of 100% regardless of the period. 22.321.3. The Hirer hereby acknowledges that should the Hirer cancel an Order, the Owner will suffer a financial loss and accordingly agrees that the Cancellation Fee set out above is fair and reasonable.