By the Hotel:

The Hotel reserves the right to cancel the Event (or any part thereof) if:

The Client fails to adhere to any of these Conditions;
In the opinion of the Hotel, there has been a significant change in the Client’s contracted booking;
The Client is insolvent or the Hotel has reasonable grounds for anticipating the same;
The Hotel is not satisfied with the client's credit status;
In the opinion of the Hotel, the Event might prejudice the reputation of the Hotel;
if the Hotel, or any part of it, is closed or damaged due to circumstances beyond it’s reasonable control; or
The Hotel is requested to cancel the Event by any government or other authority.
By the Client:
In this clause 4.2, the Event will be considered "Cancelled" by the Hotel when a Client, by written notification to the Event Manager:
Cancels or postpones the entire Event;
Cancels or postpones any element of the Event (e.g. meal / syndicate rooms);
Reduces the number of Guests below that permitted in clauses 2.2 and 2.3; or
Reduces the duration of the Event as a result of which the contracted value is reduced.
If an Event is cancelled, the Hotel shall have the right to impose a cancellation charge ("Cancellation Charge") which shall be calculated as a percentage of the Revenue as detailed below.

Timing of Reduction Percentage of Revenue
Between 52 and 12 weeks prior to the Event 30%
Between 12 and 8 weeks prior to the Event 50%
Between 8 and 4 weeks prior to the Event 80%
4 weeks prior to the Event 100%