If the event is cancelled 14 days or before, your group is responsible for 50% of the 100 ticket sales guarantee portion owed to Chunky's.  This excludes extreme weather conditions the night of the show or act of god preventing the show from taking place.
Example:  With the 50/50 split in ticket sales and assuming you are selling each ticket for $20 each.  If the event is 7 days away and you cancel the show, Chunky's is owed 50 tickets x $10 = $500 due immediately.