Breach of Contract and Remedies. (a) If either party breaches any term or condition of this Contract, the non-breaching party may, at its sole option, provide the breaching party with a notice of the breach within sixty (60) days of discovery of the breach by the non-breaching party. Upon notice of breach, the breaching party shall have sixty (60) days to cure the breach. If the breaching party does not cure the breach within the sixty (60) days, the non-breaching party, below, shall have all rights at law and in equity including the right to enforce specific performance of this Contract by the breaching party, the right to perform the obligation in question and to seek restitution for all damages incurred in connection therewith.
(b) In the event of termination of this Contract by a non-breaching party, such action shall not affect any previous conveyance.
(c) The rights and remedies of the parties provided in this Contract shall not be exclusive and are in addition to any other rights and remedies provided by law and under this Contract.
Breach of Contract and Remedies. 10.01 Definition of Breach 10.02 Event of Default 10.03 Damages
Breach of Contract and Remedies. 6.1 After the execution of this Contract, the Transferor and the Transferee shall perform this Contract in strict compliance with the provisions hereunder. Any Party in breach of this Contract shall be held liable for such breach according to the provisions hereunder. In the event of losses caused to the non-breaching Party, the breaching Party shall indemnify the non-breaching Party for the losses and expenses.
6.2 In the event of breach of this Contract by any Party, the non-breaching Party shall have the right to take one or more of the following remedial measures to protect its rights:
(1) suspension of the performance of its obligations hereunder or other relevant obligations until the elimination of such breach of Contract, which suspension of performance of obligations by the non-breaching Party shall not constitute the non-performance or delay in performance of obligations by such party. A breach penalty of 0.021% of the equity transfer price for each day when such breach persists shall be paid to the non-breaching Party.
(2) termination of this Contract by written notice, in which case, this Contract shall be terminated on the date the written notice is serviced to the breaching Party by the non-breaching Party; and
(3) the breaching Party shall promptly indemnify the non-breaching Party for all losses and expenses the non-breaching Party sustained as a result of the breach by the breaching Party, regardless whether this Contract would continue to be performed.
6.3 The rights and remedies available under this Contract are accumulative without excluding other rights or remedies available under the law.
6.4 The waiver of a breach of Contract by a Party to this Contract shall be effective only when made in writing. Any Party's failure or delay to exercise any right or remedy shall not constitute a waiver of such right or remedy. The partial exercise of rights and remedies by a Party does not impair its exercise of other rights or remedies.
Breach of Contract and Remedies. 6.1 Any one or more of the following circumstances shall constitute the Borrower’s event of default:
(1) The Borrower fails to use the loan for the purposes agreed herein, or fails to use or pay the loan funds in the manner agreed herein (or circumvents the express agreement herein regarding the entrusted payment by Bank of Beijing by breaking up the whole into pieces), or fails to pay the interest, principal or other payable amounts in full on time;
(2) The Borrower breaches any of the “covenants and warranties” in Article 4 hereof;
(3) the information in the documents or material statements relating to the Borrower’s application for the loan or application for withdrawal is proved to be untrue or fraudulent, materially omitted or materially misleading, or the Borrower fails (or expressly expresses or acts that it will not) fully and properly perform its undertakings, warranties, obligations or responsibilities under this Contract;
(4) the failure of any of the guarantors to fully and properly perform any of their undertakings, warranties, obligations or liabilities under the Security documents, or any other event of default under the Security documents, or the collateral/pledge, if any, is damaged, lost, transferred in title, retained by any other third party, seized/frozen/seized or enforced, Or the establishment of a right of residence in the mortgaged property (if any) without the prior written consent of Bank of Beijing, or the security document or the security interest of Bank of Beijing is found invalid, revoked or discharged without the prior written consent of Bank of Beijing;
(5) the borrower fails to perform any major credit financing, guarantee, compensation or other debt repayment obligations when they expire, or is suspended or canceled of the business license of its main business or major business, or enters into procedures such as business suspension for rectification/takeover/dissolution/declaration of bankruptcy;
(6) Significant adverse changes in the Borrower’s financial or business status, or bad credit record, or decline in credit status, or disputes or administrative penalties that have a significant adverse impact on its solvency or performance of this Contract, or other circumstances that have a serious adverse impact on the creditor’s rights or security interests of Bank of Beijing;
(7) the legal representative/person in charge/actual controller of the borrower/guarantor, etc., is lost.
6.2 If the Borrower fails to repay any loan ...
Breach of Contract and Remedies. 7.2.1. The Program Manager shall comply with all terms and conditions set forth within this Agreement. In the event the Program Manager materially breaches this Agreement, the SBBC shall be entitled to all remedies available at law and/or in equity, including but not limited to, compensatory damages, consequential damages, special damages, delay damages, and attorney’s fees and cost.
7.2.2. A Material Breach as defined herein includes, but is not limited to, the Program Manager’s failure to timely provide design plans that 1) comply with all governing building codes and regulations; 2) the Program Manager’s failure to comply with all “life safety” codes; 3) the Program Manager’s failure to comply with all requirements of regulatory agencies having authority over the design and/or construction of the project; 4) the Program Manager’s failure to provide design plans that are constructible; 5) the Program Manager’s failure to timely respond to Requests for Information; 6) the Program Manager’s failure to timely provide contract administration services; and any other material breach of this Agreement.
7.2.3. Program Manager waives any and all claims against Owner for consequential damages arising out of or relating to this Agreement. This waiver includes damages incurred by the Program Manager for principal office expenses including the compensation of personnel stationed there, for losses of financing, business and reputation, and for loss of profit except anticipated profit arising directly from the Work. This waiver is applicable, without limitation, to all consequential damages due to Program Manager’s termination as authorized herein.
Breach of Contract and Remedies. 6.1 If the conditions precedent set forth in Article 3.1 hereof have been fully met but ATA or ATA’s Related Party fails to pay in full the Overseas Acquisition Price or Domestic Acquisition Price on time in accordance with the provisions of Articles 2.1.3 and 2.2.4 hereof, ATA or ATA’s Related Party shall pay a default fine for the overdue payment to the Sellers on the basis of 0.3‰ of the amount of delayed payment per day, provided that the total amount of such default fine shall not exceed 10% of the total instalment of the Acquisition Price payable by ATA or ATA’s Related Party. No payment of a default fine for any delay in performance by the Acquirers shall discharge them from their obligation to continue to perform this Agreement.
6.2 After ATA’s related party pays in full the Domestic Acquisition Price, if any failure by the Actual Controller to pay in full the relevant acquisition price to each Employee Partner in accordance with the provisions of Article 2.2.4 hereof causes any losses or expenses of the Company or the Acquirers, the Actual Controller shall, within fifteen (15) days from the date on which the Company or the Acquirers suffer such losses or pay such expenses, pay to the Company or the Acquirers the full amount equivalent to the actual losses or expenses of the Company or the Acquirers.
6.3 Except for any breach of this Agreement and its remedies as specially stipulated herein or otherwise agreed upon by the Parties, if either party (hereinafter referred to as “Breaching Party”) breaches this Agreement, the other party (hereinafter referred to as “Observant Party”) shall have the right to take one or more of the following remedies to assert its rights:
(1) requiring the actual performance by the Breaching Party;
(2) suspending the performance of its obligations and resuming the performance upon the removal of such breach by the Breaching Party, and no suspension of performance by the Observant Party in accordance with the provisions of this paragraph shall constitute non-performance or delay in performance by the Observant Party;
(3) if either party sends a written notice on its unilateral cancellation of this Agreement according to the provisions of Article 7.2 or 7.3 hereof (as the case may be), such written notice on the cancellation of this Agreement shall take effect from the date on which it is sent;
(4) requiring the Breaching Party to compensate the Observant Party for its direct economic losses (including any costs actually i...
Breach of Contract and Remedies. 5.1 If any Party should violate any provision of this Agreement, the other Party has the right to demand correction by informing the defaulting Party of the violations in writing, e.g. by email, facsimile or mail. If the defaulting Party should fail to correct the violations within 10 business days after receiving the written notice, the other Party has the right to unilaterally terminate the Agreement and claim compensation for all/any loss or damage resulting from such termination.
5.2 If the Party A should fail to clear due payment in full on time as stipulated in this Agreement, the Party B reserves the right to claim extra compensation in addition to the delayed payments. Also, the daily penalty of overdue account to which the Party A shall be subject is 1‰ of the delayed payment. If the Party A should delay to clear the overdue account for over a month, the Party B has the right to terminate this Agreement immediately, suspend all services provided under this Agreement, and require the Party A to clear all delayed payment, pay an overdue fine, and make compensation for all the loss or damage resulting from its nonperformance, including but not limited to various expenses spent in resolving the dispute.
5.3 Within the effective term of and one year after the termination of this Agreement, without prior consent in writing from the Party B, the Party A and/or any of its associated companies should never hire, directly or indirectly, any current employees of the Party B and/or its associated companies, and/or their former employees with regard to whom the employment relation has been terminated for less than two years. Any violation of this provision shall be deemed as grave breach of contract. Consequently, the defaulting Party shall be subject to a penalty that is twice as much as the total annual salary (including salary, bonus and other remuneration) of the employee of the year before he/she left the Party A or any of its associated company. And the Party A should clear such penalty by bank transfer within 10 business days after receiving a notice of the breach of contract. If the Party A should fail to clear the penalty on time, it will be subject to a daily overdue penalty of 5‰ of the overdue payment.
Breach of Contract and Remedies. 5.1. If any Party (“Breaching Party”) breaches this Agreement, it shall compensate all losses of the other Party (“Non-breaching Party”) actually suffered or foreseen (by the Non-breaching Party) at the time when the agreement was made. Where any Party breaches any provision hereof, in addition to any rights to which the Non-breaching Party is entitled hereunder, the Non-breaching Party further has the right to request the Breaching Party to specifically perform this Agreement or to compensate for the loss it suffered. The Breaching Party shall indemnify the Non-breaching Party and its successors and representatives (“Indemnified Party”) and hold the Indemnified Party harmless from any losses, debts, liabilities, deduction in value, costs (including investigation and defence costs, as well as reasonable costs of attorney and accountant), or other forms of damages, whether involving any third party claims or not, arising from (a) the Breaching Party’s breach of any representation or warranty hereof or its representation or warranty hereof is not true, or (b) the Breaching Party’s breach of or failure to fully perform any covenant, Agreement, warranty or obligation hereunder, except for those waived by the other Party in writing.
5.2. All rights and remedies specified hereunder are cumulative and are in addition to all other rights and remedies provided by law.
5.3. Where any Party or its representative becomes aware that any representation or warranty from the other Party is untrue, inaccurate or incomplete through investigation or other means, its waiver of such untrue, inaccurate or incomplete representation or warranty, or its waiver of part conditions precedent, shall not cause the Non-breaching Party to lose any right against the Breaching Party. No failure or delay on the part of any party hereto in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy.
Breach of Contract and Remedies. 8.1 Breach of Contract: any violation of the Contract by Party A or Party B shall be viewed as breach of the Contract. In the event that any party violates the Contract, the other party shall promptly require, in writing, the defaulting party to make corrections. In case the defaulting party corrects its behavior within 30 days, it shall be deemed as a correction. Should the acts of the defaulting party cause any substantial economic loss to the other party, the non-defaulting party shall be entitled to make a claim. Any substantial economic loss to the defaulting party due to its own reasons shall be borne by itself and the non-defaulting party shall have no liability therein. The defaulting party has the obligation to prevent further losses.
Breach of Contract and Remedies. Except for any breach of this Agreement and its remedies as specially stipulated herein or otherwise agreed upon by the Parties, if a Party (hereinafter referred to as “Breaching Party”) breaches this Agreement, the other Party (hereinafter referred to as “Observant Party”) shall have the right to take one or more of the following remedies to assert its rights:
