Common use of Default Liability Clause in Contracts

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation SH MSN is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation SH Allyes is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation SH Kuantong is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation SH Quanshi is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 12.1 The Parties agree and confirm that, if any of the Parties Party (hereinafter the “Defaulting Party”) breaches substantially any of the provisions herein agreements made under this Agreement, or fails substantially to perform any of the obligations hereunderunder this Agreement, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event any of , then the other Parties without default non-defaulting Party (a hereinafter the “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s the other Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company 1) in case of Party A being the Defaulting Party, Party B shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if it for the Shareholder or Baifen Creation is damage; (2) in case of Party B being the Defaulting Party, or (2) the Non-defaulting Party shall have the right to terminate this Agreement and require the Defaulting Party to indemnify it for the damagesdamage, otherwise and under no circumstances shall the Non-defaulting Party hasn’t any have the right to termination terminate or release dissolve this Agreement or the entrustment authorization under this Agreement under any circumstancesAgreement.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation SH Huxin is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to require the Defaulting Party to indemnify the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.

Default Liability. 8.1 12.1 The Parties agree and confirm acknowledge that, if any of the Parties Party (hereinafter the “Defaulting Party”) breaches substantially any of the provisions herein agreements made under this Agreement, or fails substantially to perform any of the obligations hereunderunder this Agreement, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event any of , then the other Parties without default non-defaulting Party (a hereinafter the “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s the other Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company 1) in case of Party A being the Defaulting Party, Party B shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if it for the Shareholder or Baifen Creation is damage; (2) in case of Party B being the Defaulting Party, or (2) the Non-defaulting Party shall have the right to terminate this Agreement and require the Defaulting Party to indemnify it for the damagesdamage, otherwise and under no circumstances shall the Non-defaulting Party hasn’t any have the right to termination terminate or release dissolve this Agreement or the entrustment authorization under this Agreement under any circumstancesAgreement.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (hereinafter the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company 1) Hxx Xxxx shall have the right be entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages if in case the Defaulting Party is either a Shareholder or Baifen Creation is the Defaulting PartyCompany, or (2) the Non-defaulting Party shall have the right is entitled to require the Defaulting Party to indemnify the damagesdamages in case such Defaulting Party is Hxx Xxxx, otherwise provided that the Non-defaulting Party hasn’t any right shall in no circumstance be entitled to termination terminate or release cancel this Agreement or the entrustment under this Agreement under any circumstancestrust hereunder.

Default Liability. 8.1 7.1 The Parties agree and confirm that, if any of party (hereinafter the Parties (the “Defaulting Party”"DEFAULTING PARTY") breaches substantially any of the provisions herein or fails omits substantially to perform any of the obligations hereunder, or fails substantially to perform any of the obligations under this Agreement, such a breach or failure omission shall constitute a default under this Agreement (hereinafter a “Default”"DEFAULT"). In such event any , then the other party of the other Parties without default (a “Non-defaulting Party”Defaulting Party ("NON-DEFAULTING PARTY") who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting the other Party’s 's notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company Non-Defaulting Party shall have the right at its own discretion to (1) terminate this Agreement and require the Defaulting Party to indemnify it for all damages if the Shareholder or Baifen Creation is the Defaulting Party, damage; or (2) request mandatory performance of the Non-defaulting obligations of the Defaulting Party shall have the right to hereunder and require the Defaulting Party to indemnify it for all the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstancesdamage.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting PartyDEFAULTING PARTY”) breaches substantially materially any of the provisions herein or fails substantially to perform any of the material obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “DefaultDEFAULT”). In such event any of the other Parties without default (a “NonNON-defaulting PartyDEFAULTING PARTY”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have 1) if the right Shareholders or HONGCHENG EDUCATION is the Defaulting Party, HONGCHENG TECHNOLOGY is entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages damages; (2) if the Shareholder or Baifen Creation HONGCHENG TECHNOLOGY is the Defaulting Party, or (2) the Non-defaulting Party shall have the right is entitled to require the Defaulting Party to indemnify the all damages, otherwise but in no event shall it have the Non-defaulting Party hasn’t any right to termination terminate or release dissolve this Agreement or the entrustment under this Agreement under any circumstancesAgreement.

Default Liability. 8.1 11.1 The Parties agree and confirm that, if any of Party (hereinafter the Parties (the “"Defaulting Party”") breaches substantially any of the provisions herein agreements made under this Agreement, or fails substantially to perform any of the obligations hereunderunder this Agreement, such a breach or failure shall constitute a default under this Agreement (hereinafter a “"Default”"). In such event any of , then the other Parties without default (a “Nonnon-defaulting Party”) who incurs losses arising from such a Default Party shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s following the other Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company the non-defaulting Party shall have the right to choose any one of the following Default remedy methods by itself: In case of Party A being the Defaulting Party, Party B shall have the right to (1) terminate this Agreement and require the Defaulting Party to indemnify it for all damages if the Shareholder damage; or Baifen Creation is (2) require specific performance of the obligations of the Defaulting Party hereunder and require the Defaulting Party to indemnify it for all the damage. In case of Party B being the Defaulting Party, or (2) the Non-defaulting Party A shall have the right to require specific performance of the obligations of the Defaulting Party hereunder and require the Defaulting Party to indemnify it for all the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstancesdamage.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (hereinafter the “"Defaulting Party”") breaches substantially any of the provisions herein or fails substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement (hereinafter a “"Default”"). In such event any of the other Parties without default (a “"Non-defaulting Party”") who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s 's notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the 1) Wholly-Owned Company shall have the right be entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages if in case the Defaulting Party is a Shareholder or Baifen Creation is the Defaulting PartyT2 Entertainment, or (2) the Non-defaulting Party shall have the right is entitled to require the Defaulting Party to indemnify the damages, otherwise the Nondamages in case such Defaulting Party is Wholly-defaulting Party hasn’t any right Owned Company. The Shareholders or T2 Entertainment shall in no circumstance be entitled to termination terminate or release cancel this Agreement or the entrustment under this Agreement under any circumstancestrust hereunder.

Default Liability. 8.1 11.1 The Parties agree and confirm that, if any of the Parties Party (hereinafter the “Defaulting Party”) breaches substantially commits material breach of any of the provisions herein provision hereof, or materially fails substantially to perform any of the obligations obligation hereunder, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event , any of the other Parties without default (a hereinafter the “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right is entitled to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a following the written notice issued by the Non-defaulting Party’s notifying Party and the rectification requirement, and in case the Defaulting Party in writing and requiring it is the Existing Shareholder or the Company, the Non-defaulting Party shall be entitled to rectify the Defaultdecide, then at its own discretion: (1)the Company shall have the right 1) to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation is the Defaulting Partydamages, or (2) to request the Non-defaulting Defaulting Party shall have to continue the right to performance of its obligations hereunder and require the Defaulting Party to indemnify all the damages; in case the Defaulting Party is the WFOE, otherwise the Non-defaulting Party hasn’t any right is entitled to termination or release this Agreement or request the entrustment under this Agreement under any circumstancesDefaulting Party to continue the performance of its obligations hereunder, and require the Defaulting Party to indemnify all the damages.

Default Liability. 8.1 10.1 The Parties agree and confirm that, if any of the Parties either Party (hereinafter the “Defaulting Party”) breaches substantially any of the provisions herein warranties or undertakings made under this Agreement, or fails substantially to perform any of the obligations hereunderunder this Agreement, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event any of , then the other Parties without default non-defaulting Party (a hereinafter the “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten thirty (1030) days of a the Non-defaulting Party’s Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have the right to terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation is the Defaulting Party, or (2) the Non-defaulting Party shall have the right to terminate this Agreement and/or require the Defaulting Party to indemnify it for the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstancesdamage.

Default Liability. 8.1 The Parties agree and confirm that, if any of the Parties (the “Defaulting PartyDEFAULTING PARTY”) breaches substantially materially any of the provisions herein or fails substantially to perform any of the material obligations hereunder, such a breach or failure shall constitute a default under this Agreement (a “DefaultDEFAULT”). In such event any of the other Parties without default (a “NonNON-defaulting PartyDEFAULTING PARTY”) who incurs losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a Non-defaulting Party’s notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company shall have 1) if the right Shareholders or XIANDAI XINGYE is the Defaulting Party, HONGCHENG TECHNOLOGY is entitled to terminate this Agreement and require the Defaulting Party to indemnify all damages damages; (2) if the Shareholder or Baifen Creation HONGCHENG TECHNOLOGY is the Defaulting Party, or (2) the Non-defaulting Party shall have the right is entitled to require the Defaulting Party to indemnify the all damages, otherwise but in no event shall it have the Non-defaulting Party hasn’t any right to termination terminate or release dissolve this Agreement or the entrustment under this Agreement under any circumstancesAgreement.

Default Liability. 8.1 10.1 The Parties agree and confirm that, if any of the Parties Party (the “Defaulting PartyDEFAULTING PARTY”) breaches substantially any of the provisions herein agreements made under this Agreement, or fails substantially to perform any of the obligations hereunderunder this Agreement, such a breach or failure shall constitute a default under this Agreement (a “DefaultDEFAULT”). In such event any of , then the other Parties without default non-defaulting Party (a the “Non-defaulting Defaulting Party”) who incurs losses arising from such a Default whose interest is damaged thereby shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a upon the Non-defaulting Party’s Defaulting Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then (1)the Company the Non-Defaulting Party shall have the right right, at its own discretion, to (1) terminate this Agreement and require the Defaulting Party to indemnify all damages if it fully for the Shareholder or Baifen Creation is the Defaulting Party, damage; or (2) demand the Non-defaulting Party shall have enforcement of the right to Defaulting Party's obligations hereunder and require the Defaulting Party to indemnify it fully for the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.damage. The Exclusive Service Agreement

Default Liability. 8.1 The Parties agree and confirm ackowledge that, if any of the Parties (hereinafter the “Defaulting Party”) breaches substantially commits material breach of any of the provisions herein provision hereof, or materially fails substantially to perform any of the obligations obligation hereunder, such a breach or failure shall constitute a default under this Agreement (hereinafter a “Default”). In such event event, any of the other Parties without default (a “Non-defaulting Party”) who incurs losses arising from such a Default shall have the right be entitled to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of a receiving the written notice of the Non-defaulting Party’s notifying Party and the rectification requirement, and in case the Defaulting Party in writing and requiring it is the Shareholder or the Company, the Non-defaulting Party shall be entitiled to rectify the Defaultdecide, then at its own discretion: (1)the Company shall have the right to 1) terminate this Agreement and require the Defaulting Party to indemnify all damages if the Shareholder or Baifen Creation is the Defaulting Partydamages, or (2) to demand the Defaulting Party to continue the performance of the obligations hereunder and require the Defaulting Party to indemnify all the damages; in case such Defaulting Party is the WFOE, the Non-defaulting Party shall have be entitiled to demand the right Defaulting Party to continue the performance of the obligations hereunder and require the Defaulting Party to indemnify all the damages, otherwise the Non-defaulting Party hasn’t any right to termination or release this Agreement or the entrustment under this Agreement under any circumstances.