Clients may cancel an event with written notice to VWU. Upon notice of cancellation, VWU is entitled to retain 25% of Deposit if at least 30 days before the event, 65% of Deposit if 15-29 days before the event, and 100% of Deposit if 14 days or less before the event. Despite the foregoing, if VWU’s out-of-pocket expenses incurred in preparation of the event exceed the value of the retained Deposit, VWU may retain a greater percentage of the Deposit and may invoice Client for the difference if the Deposit is insufficient to cover the expenses. VWU may cancel an event and terminate its obligations if Client fails to pay Deposit or provide attendee information when due, or if Client becomes insolvent, or voluntarily or involuntarily seeks protection under any bankruptcy law.