Cancellations

Sea Bear Custom Gulfstar 68'

If Charterer, after entering into this Agreement, cancels its booking, Owner may retain all charter hire then paid as the agreed liquidated damages; provided, however, that if Owner is able to rebook the Yacht for all or part of the charter period, Owner shall refund to Charterer any amount by which the sumes received from Charterer (less a cancellation fee equal to 15% of the total charter hire and all expenses incurred in arranging the rebooking) and the charter hire received from the substitute charaterer for the rebooked dates exceed, in aggregate, the charter hire payable hereunder. If the Owner must cancel, monies paid shall be refunded in full by the Owner to the Charterer. It is further agreed that in such event, the Owner shall pay the broker in full commission on the full charter amount.