Common use of Reservation and Deposit Clause in Contracts

Reservation and Deposit. 1. For established renters with recurring annual events, the Paramount Theatre requires a $125 non-refundable, non-transferable deposit to reserve a rental date. This deposit is reflected as a credit in the final invoice. 2. For new or occasional renters, the Paramount Theatre requires a $300 non-refundable, non-transferable deposit to reserve a rental date, and the estimated rental balance paid in full 10 business days prior to the first rental date. All payments are reflected as a credits in the final invoice, where any additional fees will be billed, or refunds issued. 3. Rental dates scheduled less than 30-days out are considered “short-notice” and subject to staff availability and additional fees.