Setting - Auto Cancel Events if Invoices are not paid by due date

Some districts require a group to pay for invoices X number of days before the first event start date. They are not officially approved until the invoice is paid. They would like the system to automatically cancel those events if the invoice is not paid by the due date.

Setting - Auto Cancel Events if Invoices are not paid by due date - This will auto cancel the events associated with the invoice the day after the past due date, if the invoice is not paid.

Only show this setting if the district invoice settings are set to invoice before events. First we need to look at Auto Notifications as well - can the system send out a final invoice reminder email to the group X number of say before the due date?