Breach of faith. 1. The Lender failed to provide the Borrower the loan, and caused loss to the Borrower, the penalty that calculated with the related amount and days delayed shall be paid to the Borrower. The computation method is same to the overdue loan interest computation with the same term.
2. The Borrower failed to repay the principal of the loan in the period agreed in the Contract, the Lender shall increase the interest rate by 50% to the overdue loan at the basic of the rate agreed in the Contract as the penalty till the principal and interest repaying is completed. During the overdue period, in such event that The People’s Bank Of China increases the basic loan interest rate, accordingly, the penalty interest rate shall be increased at the same time.
3. The Borrower use the loan not pursuant to the items that describing the loan purpose under the contract, the Lender shall increase the interest rate by 100% to the part of the loan that is misused as a penalty till the principal and interest are fully repaid. During the overdue period, for RENMINBI loan, in such event that The People’s Bank Of China increase the loan interest, accordingly, the penalty interest rate shall be increased at the same time.
4. For unpaid payable interest, the Lender shall charge the compound interest pursuant to the regulation issued by The People’s Bank Of China.
5. The Borrower breaks the items that describing the Borrower’s obligation under the Contract, The Lender may be entitled to ask the Borrower to correct the action that broke the contract, may refuse to continue provide the loan, may withdraw the loan has be provided in advance, may declare that the loam term expired immediately and take some protective measures.
6. Any guarantor in the guarantee contract in connection with the loan Contract breaks the items describing its obligation under the guarantee contract, the Lender may be entitled to declare that the loam term expired immediately and take some protective measures.
7. In such event that the borrower breaks the items under the Contract, cause the Lender to take the action such as lawsuit or arbitration to archive its rights, the borrower shall take the lawyer service charge, business travel fee and other expenses occur to the Lender as its sole responsibility.
Breach of faith. Both the Creditor and the Guarantor shall abide by the contract after it becomes effective. Otherwise, the party who breaks the contract shall take the sole responsibility of the compensation to another party.
Breach of faith. 8.1 The contract becomes effective, any party fails to carry out the obligation under the Contract, or breach any statement, guarantee, commitment under the Contract, which shall be regarded as Breach Contract. Any loss caused by above Breach Contract, the compensation shall be provided to another party.
8.2 Party B fails to carry out the Guarantee obligation under the Contract, Party A may draw or deduct the money to repay the Debt under the Main Contract from the accounts that Party B opened with Industrial & Commercial Bank of China or its branch or affiliated agency. The basis currency of above accounts is different from the Debt, a current foreign exchange rate shall be taken to calculate the amount shall be drawn or deducted at the date that the money is drawn or deducted.
8.3 Any party breaches the Contract, another party may take any legal actions under the Laws, Regulations or rules of People’s Republic Country of China with an exception that stipulated under another agreement.
Breach of faith. 8.1 After this contract become effective, both parties shall abide by it, any party fails to carry out the obligation or carry out not completely, which shall be regard as breach of contract, the party shall take the breach responsibility.
8.2 Borrower or guarantor’s fault which cause guarantee contract is not processed in time, or borrower fails to process the drawdown in time as scheduled, the lender has right to dismiss this contract and withdraw the loan released.
8.3 Borrower fails to repay the principle as scheduled under contract (including repaying in advance), from the overdue date, a penalty interest at a rate of execution interest rate Plus 50% shall be charged on borrower; Xxxxxxxx fails to repay the interest as scheduled under contract (including repaying in advance), from the overdue date, a compound interest shall be calculated; the loan is overdue, the unpaid interest shall be charged compound interest at penalty interest rate;
8.4 Borrower used the loan not pursuant to the stipulation under contract, from the breach date, the principle and interest shall be charged penalty interest and compound interest at a rate of execution interest rate PLUS 100%;
8.5 The loan incur overdue or mis-using, the overdue interest, penalty interest and compound interest shall be calculated by days;
8.6 Xxxxxxxx’s breach caused lender to realize the creditor’s right by lawsuit or other property preservation actions, borrower shall shoulder such cost or expense occurred to lender, lawsuit, arbitration, property preservation, execution, public notice, evaluation, appraisal, auction, business travel, lawyer and other cost or expense to realize creditor’s right.
Breach of faith. 1. Both the Pledgee and the Xxxxxxx shall abide by the contract after it becomes effective. Otherwise, the party who breaks the contract shall take the sole responsibility of the compensation to another party.
2. Such events as following occur to the Xxxxxxx, and bring a loss to the Pledgee, the Xxxxxxx shall provide the Pledgee a compensation in full payment.
(1) Such events occurred to the Pledge is being hidden by the Xxxxxxx: co-possessing, dispute, warrant cancellation, dissent, seal-up by an authority, being frozen, being monitored, etc.
(2) The Xxxxxxx presume to dispose the pledge right without writing consent from the Pledgee.
(3) The other actions that break the contract or affect the Pledgee to accomplish its right.
Breach of faith. 9.1 Any such event shall be regarded as breach of faith under the Contract:
(1) The Borrower fails to accomplish the obligation of repaying under the Contract; or breach any statement, commitment or guarantee.
(2) The state of the Guarantee under the contract get changed which may cause a negative influence on Lxxxxx’s equities, and the Borrower fails to provide another guarantee accepted by Lender.
(3) Borrower fails to repay any other due debt (including declared due in advance), or fails to carry out or breaches the obligations under the Contract, which already or may cause Borrower to carry out the obligation under the Contract;
(4) The Borrower’s profitability, debt payback ability, solidity or cash flow, etc. such financial index breaks the standard under engagement; or it worsen enough to affect the obligation being carried out under this Contract.
(5) A material change occurs to Borrower’s business operating, external investment, which already or may cause Borrower to carry out the obligation under the Contract;
(6) Borrower and its directors, corporate representative or principal partner, major sponsor or key officers from the management, such above people get involved or may get involved material economic dispute, lawsuit, arbitration; or asset sealed up, seized, ordered for enforcement; or being investigated or punished by judicial authorities, tax authority, industrial and administrative authorities; or being exposed by public media for breaching State Regulations or policy; which already or may cause Borrower to carry out the obligation under the Contract;
(7) Such events occurs to Borrower, change of equity, or change of controlling company relation, partnership, joint venture relation, or natural major investor person, key officer from management is transferred unusually, is missing, under an investigation or under a restriction of personal freedom by certain judicial authorities.
(8) Borrower defraud Lender of fund or Credit Line with a false contract with related party or with a blank Contract; or Borrower evades the debt through internal related transaction;
(9) Borrower already or may suspend, dismiss, liquid, suspend to reform, business license withdrawn, registry cancellation or applying for a bankrupt (declared a bankrupt);
(10) Borrower breaches such laws or regulation related to food safety, safety in production, environment protection, or supervising regulations, or industry standard, and causes an responsible accident , which alre...
Breach of faith. 1. After the contract becomes effective, both Mortgagee and Mortgagor shall be abide by the Contract; any party fails to carry out the obligation, shall take the responsibility to provide another party certain compensation.
2. In such events that cause the Mortgagee’s right affected, the Mortgagor shall take the responsibility to provide Mortgagee compensation in full amount:
(1) The Mortgagor hides such events from Mortgagee, co-owned, dispute, sealed up, be monitored or mortgaged of the Guaranty.
(2) Disposal of the Guaranty without the consent from Mortgagee.
(3) Other breaches of the Contract.
Breach of faith. 12.1 Party A fails to release the loan to Party B, which causes losses to Party B, the breach compensation shall be provide to Party B in accordance with amount and delayed days, the amount of the compensation shall be calculated in a way that is same to the overdue loan interest calculation.
12.2 Party B, Party C breach the contract, the Party A may stop releasing loan, withdraw the released Principal and interest or take other actions like property preservation.
12.3 Party B, Party C breach any clause of the contract, Party A may suspend granting credit line operation on above parties in a year starting from the date breaching contract.
12.4 Party B fails to repay the debt fully on due date under the contract, Party A may charge Party B an overdue penalty interest at a rate of 150% of the contract lending interest rate and calculates by days, or a compound interest at the lending rate; Party B changes the loan purpose under the contract, a breach interest rate may be charged by Party B at a rate of 150% of the contract lending interest rate and calculate by days.
Breach of faith. 7.1 Party A involved in such event: After this contract effective, produce, sell or authorizing a third party to produce or sell the similar products with the Trade Xxxx which provided to Party B, or, under the name of inventory, convert to sell the similar products with the Trade Xxxx which provided to Party B, it shall be regarded as breaches of contract of Party A, and a loss compensation shall be provided to Party B.
7.2 without authorization from Party A, Party B shall not in any format or by any reason to transfer the Trade Xxxx to a third party, or breach the contract to extend the granted scope of the Trade Xxxx, or make sales out of the granted territory, otherwise, it shall be regarded as a breach. Party A has right to require Party B to provide a breach penalty in a amount of RMB One Hundred Thousand Yuan.
7.3 If Party B incurs a material quality fault or marketing system confusion (including cross area sales), which causes an adverse influence on the goodwill of the Trade Xxxx, Party may seize Party B's warranty fund, and/or terminate this contract without any compensation to Party B. In such event, this contract is terminated ahead of schedule, Party B shall return all documents of title or certificate to Party A, and warrant that no any copy of above documents or certificate is remaining; all the obligations and losses caused by such above actions shall be shouldered by Party B; Party A shall take no responsibility for it.
Breach of faith. Section 7.01 Party B keep the right to end the agreement if Party A can not provide the red-line map, and Party A have to compensate the interest of the paid transfer expense.
Section 7.02 Party B pay 2‰ of the expense which is not paid as late fee in the instance of delaying. Party A keep the right to end the contract, take back land and red-line map under the situation which the delay term over 1 month. Party A do not compensate the damage of Party B, and the subscription will be the breach fare.
Section 7.03 Party A pay 2‰ of the expense which is paid as compensation to Party B in the instance of delaying to provide the land. Party B keep the right to end the contract under the situation which the delay term over 1 month. Party A shall compensate double subscription and pay back other transfer fare.
Section 7.04 Party B ensure the construction schedule follow the terms in the contract.
1. Party B compensate Party B in the instance of delaying the schedule. Compensation rate is 5% in the first 2 months, RMB20,000 yuan per unit of area over 2 months, RMB 30,000yuan per unit of area over 6 months. And deal with in term of related laws in the instance of delaying over 1 year.
2. Party B could submit postpone application 15 days before, and the max delay term is 3 months. Party B is irresponsible with Party A’s approval, Party B afford the breach responsibility according to Section 7.04.1 after the postpone term expiration.
3. Party A withdraw the land in the instance of Party B delay 2 years, all the paid fare is considered as compensation to Party A. Except the instance of force majeure and government behavior.
4. Party A take the 3‰ of total transfer fare per day until Party B implementation the section 3.07.
Section 7.05 Party A shall be responsible for not provide the eligible land, and shall compensate Party B’s Loss.
Section 7.06 Party B shall be responsible for illegal operation, and this agreement shall end automatically.
