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GENERAL TERMS AND CONDITIONS
1. UNDERSTANDING OF THE PARTIES
During the Term (defined hereinafter) and for the consideration set out herein, Hotel shall commit to Company a minimum number of Hotel rooms and packages ("Inventory") as may be set out in bookbyslot.com inventory management system ("System") available to Company for reservations/ distributions by the Company through various channels available to it.
2.1 This Agreement shall be deemed to have come into effect on and from the Effective Date and shall continue for a period of one (1) year post the Effective Date ("Term") unless terminated by Company by giving one month’s written notice to the Hotel ("Notice Period").
2.2 The Parties hereby agree that upon expiry of the Term or the renewed term, as the case may be, this Agreement shall automatically renew for a further term of 1 (One) year. Even after the termination of this Agreement, Hotel shall honor any bookings made by Company’s customers up till the effective date of termination or expiry of this Agreement. Further, the Company reserves the right to terminate this Agreement with immediate effect in the event of any material or other breach of the provision of this Agreement by Hotel including without limitation on the Hotel's inability to offer Inventory, Inventory and rate parity not being maintained by the Hotel, failure to issue invoices to customers, bankruptcy or winding up proceedings against the Hotel, change of Control of the Hotel or multiple escalations from customers against the Hotel i.e., customer satisfaction index. Hotel shall duly intimate Company of any change of Control. For the purposes of this Agreement, a person shall be deemed to "Control" another person if such person possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of such other person, whether through the ownership of voting securities, by contract or otherwise, and the terms "Controlling" and "Controlled" shall have corresponding meanings.