Common use of Payment and Deposit Clause in Contracts

Payment and Deposit. 4.1 Within 7 days of the Booking Date, the Hirer shall pay a deposit to the Manager calculated by reference to the agreed Charge Method as follows: 4.1.1 for the Package Rate Option, 50% of the amount payable based on the Minimum Number or the confirmed numbers of Invitees under clause 3.2.2 (whichever is higher at that point); or 4.1.2 for the Room Hire Option, 50% of each of the Room Hire Charge, the Equipment Charge, the Service Charge and the Catering Charge based on the Minimum Number or the confirmed numbers of Invitees under clause 3.1.3(b) (whichever is higher at that point), and the amount of the deposit paid (and any additional deposit paid under this clause 4) will be credited against the overall charges. In the event of a cancellation, the deposit (and any additional deposit paid under this clause 4) will be used towards satisfaction of any cancellation charges incurred under clause 5, and any balance not used towards satisfaction of any cancellation charges and/or any other liabilities owing to the Manager or the Owner shall be refunded. 4.2 If, after payment of the deposit but before payment of the balance, there is an increase to the Minimum Number or the confirmed number of Invitees under clause 3.1.3(b) or clause 3.2.2 (whichever is applicable) or if there is any other change which results in an increase in any of the overall charges payable by the Hirer, the deposit shall be recalculated in accordance with clause 4.1 but taking account of any and all such aforementioned applicable increases, as known at that point, and the Hirer shall, on demand pay to the Manager the difference between the previous deposit(s) paid and the recalculated deposit. 4.3 The full balance of all outstanding sums (or as close to full balance as can be ascertained at that point) shall be paid no later than one month before the start of the Hire Period. If a booking is confirmed less than one month before the start of the Hire Period starts, full payment (or as close to full payment as can be ascertained at that point) is required to be paid on the Booking Date, as follows, depending upon the agreed Charge Method: a) for the Package Rate Option, 100% of the amount payable under the Package Rate Option based on the Minimum Number or the confirmed numbers of Invitees under clause 3.2.2 (whichever is higher at that point); or

Payment and Deposit. 4.1 Within 7 days of the Booking Date, the Hirer shall pay a deposit to the Manager calculated by reference to the agreed Charge Method as follows: 4.1.1 for the Package Rate Option, 50% of the amount payable based on the Minimum Number or the confirmed numbers of Invitees under clause 3.2.2 (whichever is higher at that point); or 4.1.2 for the Room Hire Option, 50% of each of the Room Hire Charge, the Equipment Charge, the Service Charge and the Catering Charge Char ge based on the Minimum Number or the confirmed numbers of Invitees under clause 3.1.3(b) (whichever is higher at that point), , 4.2 and the amount of the deposit paid (and any additional deposit paid under this clause 4) will be credited against the overall charges. In the event of a cancellation, the deposit (and any additional deposit paid under this clause 4) will be used towards satisfaction of any cancellation charges incurred under clause 5, and any balance not used towards satisfaction of any cancellation charges and/or any other liabilities owing to the Manager or the Owner shall be refunded. 4.2 4.3 If, after payment of the deposit but before payment of the balance, there is an increase to the Minimum Number or the confirmed number of Invitees under clause 3.1.3(b) or clause 3.2.2 (whichever is applicable) or if there is any other change which results resu lts in an increase in any of the overall charges payable by the Hirer, the deposit shall be recalculated in accordance with clause 4.1 but taking account of any and all such aforementioned applicable increases, as known at that point, and the Hirer shall, on demand pay to the Manager the difference between the previous deposit(s) paid and the recalculated deposit. 4.3 4.4 The full balance of all outstanding sums (or as close to full balance as can be ascertained at that point) shall be paid no later than one month before the start of the Hire Period. If a booking is confirmed less than one month before the start of the Hire Hir e Period starts, full payment (or as close to full payment as can be ascertained at that point) is required to be paid on the Booking Bookin g Date, as follows, depending upon the agreed Charge Method: : a) for the Package Rate Option, 100% of the amount payable under the Package Rate Option based on the Minimum Number or the confirmed numbers of Invitees under clause 3.2.2 (whichever is higher at that point); or b) for the Room Hire Option 100% of each of the Room Hire Charge, the Equipment Charge, the Service Charge and the Catering Charge based on the Minimum Number or the confirmed numbers of Invitees under clause 3.1.3(b) (whichever is higher at that point). 4.5 If there is an increase to the Minimum Number or the confirmed number of Invitees under clause 3.1.3(b) or clause 3. 2.2 (whichever is applicable) or if there is any other change which results in an increase in any of the overall charges payable by the Hirer, following payment of the balance (or, as the case may be, the full payment) under clause 4.4, the Hirer shall pay to the Manager, on demand, the full balance owing in respect of such increase or change (or as close to full balance as can be ascertained at that point). 4.6 An invoice for any and all outstanding charges and/or further charges payable by the Hirer, beyond those already paid, will b e issued after the Hire Period and shall be paid by the Hirer within 30 days of issue. 4.7 In the event that the Hirer makes an overpayment, the Manager, shall pay the amount of such overpayment to the Hirer within 30 days after the end of the Hire Period, to the extent that such amount still constitutes an overpayment at that point. 4.8 All prices in relation to this Agreement are stated exclusive of VAT and VAT shall be payable by the Hirer in addition where applicable. 4.9 If the Hirer fails to pay any amount properly due and payable by it under this Agreement, the Manager shall have the right to charge interest on the overdue amount at the rate of 4% per annum above the base rate for the time being of HSBC Bank Plc accruing on a daily basis from the date of default up to the date of actual payment, whether before or after judgment.

Payment and Deposit. 4.1 Within 7 days 6.1 When the Hirer signs this Agreement and returns it to the Manager, and as condition of the Manager accepting a booking as a Confirmed Booking Dateand entering into this Agreement, the Hirer shall must pay a deposit of £2,000 to the Manager calculated towards the charges payable by reference to the agreed Charge Method as follows: 4.1.1 for the Package Rate OptionHirer, 50% and any other liabilities of the amount payable based on the Minimum Number or the confirmed numbers of Invitees Hirer, under clause 3.2.2 (whichever is higher at that point); or 4.1.2 for the Room Hire Option, 50% of each of the Room Hire Charge, the Equipment Charge, the Service Charge and the Catering Charge based on the Minimum Number or the confirmed numbers of Invitees under clause 3.1.3(b) (whichever is higher at that point)this Agreement, and such deposit shall only be regarded as having been paid when it is received by the Manager in full and in cleared funds. The amount of the deposit paid (and any additional deposit paid under this clause 4) will will be credited against the overall chargescharges payable by the Hirer and/or any other liabilities of the Hirer under this Agreement. In the event of of: 6.1.1 the Hirer cancelling a cancellationConfirmed Booking, and without prejudice to any additional amount which may be due from Hirer under this Agreement, the deposit (and any additional deposit paid under this clause 4) will be used towards satisfaction of any cancellation charges incurred under clause 57, and any balance not used towards satisfaction of any cancellation charges and/or any other liabilities owing to the Manager or the Owner shall be refundedrefunded to the Hirer; or ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ 6.1.2 the Manager not accepting a booking as a Confirmed Booking, the deposit will be returned in full to the Hirer. 4.2 If6.2 The balance of all outstanding known and estimated sums (or as close to full balance as can be ascertained at that point) shall be paid, after payment in cleared funds, no later than one month before the start of the deposit but before payment Hire Period or within 30 days following the date of issue of the balanceManager’s invoice for the same, whichever is later. 6.3 If a booking is accepted as Confirmed Booking and the Booking Date is (or is reasonable expected to be) less than one month before the Hire Period starts, then as a condition of the Manager accepting such booking as a Confirmed Booking and entering into this Agreement, the Hirer shall, when returning this Agreement signed by the Hirer, pay the full amount of all known and estimated sums required to be paid by the Hirer under this Agreement (or as close to the full amount as can be ascertained at that point) as follows: 6.3.1 100% of each of the Room Hire Charge; and 6.3.2 100% of the Package Charges based on the Minimum Number or the confirmed numbers of Invitees under clause 5.1.2(b) (whichever is higher at that point) and such amount shall only be regarded as having been paid when it is received by the Manager in full and in cleared funds. 6.4 If there is an increase to the Minimum Number Number, or the confirmed number of Invitees under clause 3.1.3(b) or clause 3.2.2 (whichever is applicable) 5.1.2(b), or if there is any other change which results in an increase in any of the overall charges payable by the Hirer, the deposit shall be recalculated Hirer in accordance with this Agreement following payment of the balance under clause 4.1 but taking account 6.2 (or, as the case may be, the full payment under clause 6.3), the Hirer shall, within 24 hours of receiving the Manager’s invoice for the same, pay to the Manager in full and in cleared funds, such further amount agreed between the parties for such purposes or, to the extent not agreed, such further amount calculated and communicated by the Manager to the Hirer by reference to the applicable rates set out in the Brochure/Website. 6.5 An invoice for any and all such aforementioned applicable increasesoutstanding charges and/or further charges and other amounts payable by the Hirer in accordance this Agreement, as known at that pointbeyond those already paid or invoiced, will be issued by the Manager to the Hirer following end of the Hire Period, and the Hirer shall, on demand shall pay to such amounts in full and in cleared funds after the Manager the difference between the previous deposit(s) paid Hire Period and the recalculated deposit. 4.3 The full balance of all outstanding sums (or as close to full balance as can be ascertained at that point) shall be paid no later than one month before by the start Hirer within 30 days of issue. 6.6 In the event that the Hirer makes an overpayment, the Manager, shall pay the amount of such overpayment to the Hirer within 30 days after the end of the Hire Period. If a booking is confirmed less than one month before , to the start of the Hire Period starts, full payment (or as close to full payment as can be ascertained extent that such amount still constitutes an overpayment at that point. 6.7 All prices stated in relation to this Agreement (whether in the Hire Form or otherwise) is required are stated exclusive of VAT, which the Hirer shall pay in addition at the applicable rate. 6.8 If the Hirer fails to be paid pay any amount properly due and payable by it under this Agreement, the Manager shall have the right to charge interest on the Booking Date, as follows, depending upon overdue amount at the agreed Charge Method: a) rate of 2% per annum above the base rate for the Package Rate Optiontime being of HSBC Bank Plc accruing on a daily basis from the date of default up to the date of actual payment, 100% of the amount payable under the Package Rate Option based on the Minimum Number whether before or the confirmed numbers of Invitees under clause 3.2.2 (whichever is higher at that point); orafter judgment.