Common use of Full Cancellation Clause in Contracts

Full Cancellation. ‌‌ 10.3.1. Should you cancel your Event for any reason, including changing your meeting/function site to another hotel, you agree to pay us the applicable full cancellation damages. The full cancellation damages will be calculated as a percentage, based on the date of cancellation and the number of total guests listed below. 10.3.2. All notices of cancellation must be in writing and will take effect from the date of our receipt of your notice and the minimum numbers guarantees listed below. 10.3.3. Cancellation damages will be set out as a genuine pre-estimate of the Hotel’s profit loss, in line with MIA (Meeting Industry Association) guidelines, which for purposes of this agreement shall equal 90% of bedroom accommodation and room hire (“ARH”) and 65% of pre-booked “F&B”. 10.3.4. Following confirmation of an Event, should your total guest numbers increase as evidenced by an amendment to the Event Agreement, so that a new applicable cancellation period becomes valid, then the new cancellation period will automatically supersede the previous. Should total guest numbers decrease at any time following confirmation, the original applicable cancellation period will still remain valid. 10.3.5. We will subtract any advance payments and deposits previously paid by you to us from the applicable full cancellation damages you owe to us. 10.3.6. We will make reasonable efforts to reduce your cancellation damages owed by re-letting the cancelled Event and/or accommodation space. The cancelled Event and/or accommodation space will be classed as last let and therefore we will only confirm definitive cancellation charges after the intended Event Dates. The re-let credit will equal the profit of any alternative business we are able to secure on your behalf. 10.3.7. For the avoidance of doubt, bedroom accommodations will be considered “re-let” to the extent that we sell more bedrooms on a night of your Event than we would have had available to sell if you had fully occupied your reserved Room Block. Each bedroom re-let will be counted as a bedroom occupied in your Room Block. For example, if the Hotel has 400 total available bedrooms and you reserve 100 bedrooms, we will have 300 bedrooms available to sell to other customers first before “re- letting” an unused bedroom that was part of your reserved Room Block. The bedrooms re-let credit will equal (x) the average daily rate received by the Hotel for the nights on which bedrooms are re-let on your behalf, multiplied by (y) the number of bedrooms re-let on your behalf, multiplied by (z) 90% (the ARH profit loss percentage, in line with MIA guidelines, as set out in the table above). 10.3.8. In addition to the full cancellation damages due by you to us under this clause, you must reimburse us for any expenditure incurred by us in respect of any cancelled booking, including (but not limited to) any costs, charges or penalties as a result of having to make consequential

Full Cancellation. ‌‌ 10.3.110.2.1. Should you cancel your Event for any reason, including changing your meeting/function site to another hotel, you agree to pay us the applicable full cancellation damages. The full cancellation damages will be calculated as a percentage, based on the date of cancellation and the number of total guests listed belowcancellation. 10.3.210.2.2. All notices of cancellation must be in writing and will take effect from the date of our receipt of your notice and the minimum numbers guarantees listed below. 10.3.310.2.3. Cancellation damages will be set out as a genuine pre-estimate below. Time of the Hotel’s profit loss, in line with MIA (Meeting Industry Association) guidelines, which for purposes cancellation Percentage of this agreement shall equal 90Event Revenue Chargeable as Cancellation Fee In excess of 365 calendar days 0% Between 365 and 85 calendar days 30% Between 84 and 57 calendar days 50% Between 56 and 29 calendar days 80% 28 calendar days or less of bedroom accommodation and room hire (“ARH”) and 65% of pre-booked “F&B”.arrival 100% 10.3.410.2.4. Following confirmation of an Event, should your total guest numbers increase as evidenced by an amendment to the Event Agreement, so that a new applicable cancellation period contract value becomes valid, then the new cancellation period contract value will automatically supersede the previous. Should total guest numbers decrease at any time following confirmation, the original applicable cancellation period contract value will still remain valid. 10.3.510.2.5. We will subtract any advance payments and deposits previously paid by you to us from the applicable full cancellation damages you owe to us. 10.3.610.2.6. We will make reasonable efforts to reduce your cancellation damages owed by re-letting the cancelled Event and/or accommodation space. The cancelled Event and/or accommodation space will be classed as last let and therefore we will only confirm definitive cancellation charges after the intended Event Dates. The re-let credit will equal the profit of any alternative business we are able to secure on your behalf. 10.3.710.2.7. For the avoidance of doubt, bedroom accommodations will be considered “re-let” to the extent that we sell more bedrooms on a night of your Event than we would have had available to sell if you had fully occupied your reserved Room Block. Each bedroom re-let will be counted as a bedroom occupied in your Room Block. For example, if the Hotel has 400 total available bedrooms and you reserve 100 bedrooms, we will have 300 bedrooms available to sell to other customers first before “re- letting” an unused bedroom that was part of your reserved Room Block. The bedrooms re-let credit will equal (x) the average daily rate received by the Hotel for the nights on which bedrooms are re-let on your behalf, multiplied by (y) the number of bedrooms re-let on your behalf, multiplied by (z) 90% (the ARH profit loss percentage, in line with MIA guidelines, as set out in the table above). 10.3.810.2.8. In addition to the full cancellation damages due by you to us under this clause, you must reimburse us for any expenditure incurred by us in respect of any cancelled booking, including (but not limited to) any costs, charges or penalties as a result of having to make consequentialconsequential cancellation of our own arrangements with third parties in relation to your cancelled Event.

Full Cancellation. ‌‌ 10.3.1. Should you cancel your Event for any reason, including changing your meeting/function site to another hotel, you agree to pay us the applicable full cancellation damages. The full cancellation damages will be calculated as a percentage, based on the date of cancellation and the number of total guests listed below. 10.3.2. All notices of cancellation must be in writing and will take effect from the date of our receipt of your notice and the minimum numbers guarantees listed below. 10.3.3. Cancellation damages will be set out as a genuine pre-estimate of the Hotel’s profit loss, in line with MIA (Meeting Industry Association) guidelines, which for purposes of this agreement shall equal 90% of bedroom accommodation and room hire (“ARH”) and 65% of pre-booked “F&B”. 10.3.4. Following confirmation of an Event, should your total guest numbers increase as evidenced by an amendment to the Event Agreement, so that a new applicable cancellation period becomes valid, then the new cancellation period will automatically supersede the previous. Should total guest numbers decrease at any time following confirmation, the original applicable cancellation period will still remain valid. 10.3.5. We will subtract any advance payments and deposits previously paid by you to us from the applicable full cancellation damages you owe to us. 10.3.6. We will make reasonable efforts to reduce your cancellation damages owed by re-letting the cancelled Event and/or accommodation space. The cancelled Event and/or accommodation space will be classed as last let and therefore we will only confirm definitive cancellation charges after the intended Event Dates. The re-let credit will equal the profit of any alternative business we are able to secure on your behalf. 10.3.7. For the avoidance of doubt, bedroom accommodations will be considered “re-let” to the extent that we sell more bedrooms on a night of your Event than we would have had available to sell if you had fully occupied your reserved Room Block. Each bedroom re-let will be counted as a bedroom occupied in your Room Block. For example, if the Hotel has 400 total available bedrooms and you reserve 100 bedrooms, we will have 300 bedrooms available to sell to other customers first before “re- letting” an unused bedroom that was part of your reserved Room Block. The bedrooms re-let credit will equal (x) the average daily rate received by the Hotel for the nights on which bedrooms are re-let on your behalf, multiplied by (y) the number of bedrooms re-let on your behalf, multiplied by (z) 90% (the ARH profit loss percentage, in line with MIA guidelines, as set out in the table above). 10.3.8. In addition to the full cancellation damages due by you to us under this clause, you must reimburse us for any expenditure incurred by us in respect of any cancelled booking, including (but not limited to) any costs, charges or penalties as a result of having to make consequential