2008 Gov Drought Conf Hyatt Agreement

Home Browse Search

The Hotel and Group intend to liquidate damages in the event that either party utilizes the cancellation option set forth in this section. Therefore, the Hotel and Group agree (a) that the above formula is a reasonable estimate of the Hotel's damage in the event of cancellation and (b) that the Liquidated damages set forth in this section do not constitute a penalty. CONSTRUCTION OR RENOVATION In the event the Hotel will be undergoing any material non - emergency construction or renovation during the event dates, the Hotel shall promptly notify the Group, and the Group shall have the right to cancel this Agreement without liability upon written notice to the Hotel it in the reasonable judgment of the Group and the Hotel, such construction or renovation will materially interfere with the Group's ability to hold the event. RIGHTS OF TERMINATION FOR CAUSE Except as otherwise provided in this Agreement, neither party shall have the right to terminate their obligations under this Agreement- Either party may terminate this Agreement for any one or more of such reasons upon written notice to the other party within five (5) days of such occurrence or receipt of notice of any of the following occurrences. This Agreement is, however, subject to termination for cause without liability to the terminating party, under any of the following conditions: a. The parties' performance under this Agreement is subject to acts of God, war, government regulation, terrorism, disaster, strikes, civil disorder, curtailment of transportation facilities, or any other emergency of a comparable nature beyond the parties' control, making it impossible, illegal or which materially affects a party's ability to perform its obligations under this Agreement. b. In the event that either party shall make a voluntary or involuntary assignment for the benefit of creditors or enter into bankruptcy proceedings prior to the date of the Group's meeting, the other party shall have the right to cancel this Age without liability upon written notice to the other. c. The Hotel shall promptly notify the Group if there is a change in the management company which operates the Hotel prior to the meeting, in which event Group shall have the right to terminate this Agreement without liability upon written notice to the Hotel. d. In the event of termination by the Hotel under this section, the Hotel shall refund all deposits and/or prepayments made by the Group within five (5) days of the notice of termination. INDEMNIFICATION AND HOLD HARMLESS Hotel agrees to defend, indemnify and hold harmless Group from and against all claims, actions, causes of action, or liabilities, including reasonable attorneys' fees, arising out of or resulting from any act undertaken or committed by Hotel pursuant to the performance of its obligations under this Agreement. Hotel also agrees to defend, indemnify and hold harmless Group from any liability resulting from any claim, action or cause of action, which may be asserted by third parties arising out of Hotets performance pursuant to this Agreement, except for those actions or liabilities which are due to the misconduct or negligence of the Group. INSURANCE Group and Hotel are required to insure their obligations set forth in the section entitled Indemnification and Hold Harmless' above, and to provide evidence of such insurance upon request. For any activity introduced onto the premises by an outside contractor hired by Group, Group will be fully responsible for the actions of such outside contractor._ Hyatt Agreement f v 4/10 Group Contact Initials/Date dm, tl Hotel Contact Initials/Date