Cancellation of Franchise. Party A has the right to terminate the Franchise Agreement granted to Party B and take over it upon occurrence of any of the following situations: (1) Disposition of the franchise by transfer, lease, lien and etc.; (2) Pledging the Company assets without authorization; (3) Mismanagement that causes serious quality and safety accidents and seriously affects the public interest; (4) Unauthorized and arbitrary termination and suspension of operation that affects the public interest and safety; and (5) Other situations as specified under the applicable laws, regulations and rules.
Appears in 7 contracts
Samples: Franchise Agreement (Sino Gas International Holdings, Inc.), Franchise Agreement (Sino Gas International Holdings, Inc.), Franchise Agreement (Sino Gas International Holdings, Inc.)
