Breaching Liabilities. In the event that one party fails to perform any obligation hereunder, or any representation or warranty of the Party hereunder is materially untrue or inaccurate, the party breaches this Agreement, and shall compensate for all losses of the other parties.
Breaching Liabilities. 8.1 In the event that either Party (“Breaching Party”) breaches any provision hereof, and thus causes any damage to the other Party (“Non-breaching Party”), the Non-breaching Party may send a written notice to the Breaching Party, requesting the Breaching Party to immediately correct and remedy its breach. If the Breaching Party fails to take measures satisfactory to the Non-breaching Party to remedy and correct its breach within fifteen (15) days after the Non-breaching Party receives the abovementioned written notice, the Non-breaching Party may immediately take other remedial measures according to the provision hereof or through legal means.
8.2 In the event that the Borrower fails to repay the loan to the Lender according hereto, the Borrower shall pay to the Lender the liquidated damages for late payment at the daily rate of 0.02% over the outstanding amount (counted from the date requested by the Lender for repayment of the loan), and shall compensate the Lender for any direct economic loss caused by the Borrower’s breach (including but not limited to the market value of the shares held by the Borrower in the Pictures Company which is not transferred, or the outstanding loan amount, whichever is higher).
Breaching Liabilities. 10.1 If Party B or Party C materially breaches any provision hereof, Party A has the right to terminate this Contract and/or request Party B or Party C to compensate. This Clause 10 shall not impair any other rights of Party A hereunder. Notwithstanding any contrary provisions hereof, the founding shareholders and Party C shall be jointly and severally responsible for any breach of any provision hereof, provided that they shall not be jointly and severally responsible for any breach of this Contract by any person of Party B other than the founding shareholders. Each person of Party B other than the founding shareholders shall be severally responsible for his breach of this Contract, and shall not be jointly and severally responsible for other’s breach of this Contract.
10.2 Unless laws provide otherwise, Party B or Party C has no right to terminate or rescind this Contract in whatever circumstances.
Breaching Liabilities. 8.1 Each Borrower promises that, if it violates any of its obligations under this Agreement and thus the Lender suffers or incurs any actions, charges, claims, costs, damages, requests, expenses, liabilities, losses and procedures, it shall assume corresponding liability to the Lender separately rather than jointly.
8.2 Notwithstanding other provisions of this Agreement, the validity of this Article 8 is not affected by the suspension or termination of this Agreement.
Breaching Liabilities. 1. In the event that the Borrower breaches any provision of this Agreement, or the Borrower goes into liquidation, dissolution, insolvency or bankruptcy reorganization, or becomes unable to repay any due debt, etc., the Lender shall have the right to stop providing the loan, demand early repayment of the loan principal which has been already provided, or take other asset preservation measures.
2. In the event that the Borrower’s breach causes the Lender to realize the creditor’s rights through litigation, the Borrower shall be liable for the lawyer’s expenses, travel expenses and other expenses which the Lender spend for realizing the creditor’s rights.
Breaching Liabilities. 6.1 Where Party B breaches or fails to perform fully any obligation hereunder, which causes the mortgage unattached or unregistered, and fails to provide any security approved by Party A within the time limited notified by Party A, it shall assume the following breaching liabilities:
(1) If Party B is a Debtor, it shall pay Party A liquidated damages at 5% of the principal amount of the debt under the Principal Contracts, up to the value of the collaterals hereunder.
(2) If Party B is not a Debtor, it shall assume the joint-and-several liability of compensation for the outstanding principal, interest and expense of or relating to the debt under the Principal Contracts to the extent of the value of the collaterals hereunder.
6.2 Where Party B breaches or fails to perform fully any obligation hereunder, which causes the value of collaterals hereunder to decrease or causes the collaterals hereunder to destruct, and fails to reinstate or provide any security approved by Party A within the time limited notified by Party A, it shall assume the following breaching liabilities:
(1) If Party B is a Debtor, it shall pay Party A liquidated damages at 5% of the principal amount of the debts under the Principal Contracts, up to the value of the collaterals hereunder.
(2) If Party B is not a Debtor, after Party A realizes the mortgage according to law, Party B shall assume the joint-and-several liability of compensation to the extent of the difference between the value of the collaterals at the time of realization of mortgage and the value of collaterals agreed herein, up to the principal, interest or expense of or relating to the debts under the Principal Contracts which are not satisfied by the Debtors.
6.3 Where Party B otherwise breaches this contract, it shall compensate Party A for all losses thus caused, including any direct or indirect loss.
Breaching Liabilities. 8.1. If either Party breaches the provisions of this Agreement, the breaching party shall compensate the non-breaching party for the losses suffered by the non-breaching party.
8.2. Any waiver by the non-breaching party of the breaches by the breaching party shall only be effective if made in writing. Failure or delay to exercise any rights or remedies under this Agreement by the non-breaching party shall not constitute a waiver thereof by such non-breaching party; and partial exercise of any rights or remedies shall not prevent the non-breaching party from exercising other rights and remedies.
8.3. The effectiveness of this Clause shall survive the termination or rescission of this Agreement.
Breaching Liabilities. 8.1 It will constitute the breach of agreement if any party breaches the promise, guarantee, limitation or forbidden content of this agreement, and the breaching party shall pay the penalty to the opposing party based on the standard equivalent to 20% of total agreement price, and the opposing party is also entitled to claim the breaching party to keep implementing this agreement.
8.2 If the equity transfer agreed in this agreement can not be completed or the school can not keep running legally due to the cause of Party A, Party A shall pay the penalty based on the standard equivalent to 20% of total agreement price and return all the money paid by Party B; if the equity transfer agreed in this agreement can not be completed due to the cause of Party B, Party B shall pay the penalty to Party A based on the standard equivalent to 20% of total agreement price and return the handed-over properties and data.
8.3 It will constitute the breach of agreement if any party breaches the regulation of this agreement and defers implementing the obligations agreed in this agreement, the breaching party shall pay the penalty of RMB50000 to the opposing party, and the opposing party is also entitled to claim the breaching party to keep implementing this agreement; if the deferred implementation exceeds 1 month, the opposing party is entitled to cancel this agreement; if the company and school have the loss out of the normal management activity during the period, it shall be undertaken by Party A if it occurs before the handover work stated in article 3.3 is completed, or it shall be undertaken by Party B.
8.4 If the loss of innocent party resulted from the breaching behavior of breaching party is larger than the penalty, the breaching party shall pay the balance other than the penalty to the innocent party.
Breaching Liabilities. After signing this agreement, failing to fulfill this agreement in part or in all shall be deemed as breaching this agreement. The party breaching this agreement shall be responsible for compensating all the direct economic loss of the other party, who shall have the right to require the party breaching this agreement to continue fulfilling this agreement.
Breaching Liabilities. 16.1.1 Any Partner in violation of this Agreement shall take relative breaching liabilities in accordance with the law or the provisions hereof.
16.1.2 Any Partner who fails to make capital contribution within the agreed period shall take responsibilities in accordance with Article 3.3.
