Defaulting Liabilities. 11.1 The Parties agree and acknowledge that, if any Party (hereinafter the “Defaulting Party”) commits material breach of any provision hereof, or materially fails to perform any obligation hereunder, such breach or failure shall constitute a default under this Agreement (hereinafter a “Default”), then the non-defaulting Party shall be entitled to demand 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 fifteen (15) days following the written notice issued by the non-defaulting Party and the rectification requirement, the non-defaulting Party shall be entitled to decide to, at its discretion: (1) terminate this Agreement and require the Defaulting Party to indemnify all the damages; or (2) require the performance of the obligations hereunder and require the Defaulting Party to indemnify all the damages.
11.2 Notwithstanding any provision under Article 11.1 above, the Parties agree and acknowledge that under no circumstances shall Party A be entitled to terminate this Agreement for whatever reason, unless otherwise provided by law or this Agreement.
11.3 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.
Defaulting Liabilities. Where either party fails to perform any of its obligations hereunder, or any of its representations or warranties hereunder is materially untrue or inaccurate, such party shall be deemed to default under this Agreement and shall be held liable for all the losses thus incurred to the other party.
Defaulting Liabilities. 9.1 The Borrowers undertake to hold the Lender harmless and indemnify the Lender against any actions, charges, claims, costs, damages, demands, expenses, liabilities, losses and proceedings which the Lender may suffer or be subject to as a result of any default by the Borrowers of its obligations hereunder.
9.2 Notwithstanding any other provisions herein, the validity of this Article shall survive the suspension or termination of this Agreement.
Defaulting Liabilities. If a Party fails to perform its obligation hereunder or breaches any of the representations, warranties or undertakings made herein, such failure or breach shall constitute a default. The non-defaulting Party shall be entitled to give a written notice in respect of any such default, requiring the defaulting Party to remedy the same. The defaulting Party shall be liable for the losses incurred by the non-defaulting Party as a result of any default by the defaulting Party.
Defaulting Liabilities. In the event that either party breaches this Contract, it shall undertake the defaulting liabilities and pay default penalty to the other party. If default penalty cannot cover the losses due to such default, the defaulting party shall make up the deficit. If default penalty are excessively higher or lower than actual losses, either party may request people’s court or arbitration institute to decrease or increase default penalty appropriately.
9.1 In case either party fails to perform this Contract in whole or in part (in case of delayed delivery or insufficient delivery by the Seller, in reference to Article 9.2), the Seller shall pay the other party the default penalty at a rate of 0.5% of the total value of the goods involved in such default. If both parties negotiate to change or terminate this Contract, neither party is deemed to breach the Contract.
9.2 If the Seller delays delivery or that delivered goods are insufficient, the Seller shall pay the Buyer the default penalty at a rate of 1% of the total value of this batch of goods. If the Buyer does not collect goods according to delivery term or rejects qualified goods, it shall pay the Seller the default penalty at a rate of 1% of the total value of this batch of goods. If either party intends to increase or decrease contractual quantity or change the delivery term, it shall give a 10 days prior notice and obtain the consent of the other party; otherwise, it shall undertake economic liabilities.
9.3 The expenses actually paid by the Buyer during the custody period due to the mis-delivery by the Seller shall be borne by the Seller. In case that the Buyer delays payment, it shall pay the Seller the default penalty for overdue payment in accordance with the relevant regulations of the People’s Bank of China.
9.4 The default penalty, compensation, custody and maintenance expenses and various economic losses payable by either party shall be paid to the other party within 10 days after responsibilities are defined. Otherwise, such party will be punished for overdue payment. However, neither party shall offset relevant fees by withholding goods or deducting payment for goods.
Defaulting Liabilities. 1. If Party A loses the lawful right over the Premises and as a result thereof, Party B cannot continue to use the Premises, Party A shall refund the deposit to Party B after deducting the incurred rent, property management fee and energy fees and pay the liquidated damages being equal to three months’ rent.
2. If Party B cannot complete necessary industrial and commercial registration by using the Premises and its materials, Party A shall stop charging the rent of the Premises and assist Party B in completing the registration within two months. If the registration procedures are still not completed beyond the said period and Party B terminates this Contract, Party A shall pay Party B the liquidated damages being equal to three months’ rent. The unsuccessful registration for Party B’s reason is an exception.
3. If Party B still fails to perform the record procedures within 10 working days following the execution of this Contract, Party B shall have the right to suspend paying the subsequent rent until the elimination of this situation. If Party A fails to do so for more than 30 days, Party B shall have the right to terminate this Contract and demand Party A to pay the liquidated damages being equal to three months’ rent.
4. If the delivery of the Premises is delayed for Party A’s reason, Party A shall pay the liquidated damages being equal to 3 months’ rent. If the delay in delivering the Premises lasts for 3 months, Party B shall have the right to terminate this Contract.
5. Within the lease term, Party A guarantees that the Premises are in a normally usable and safe condition. If Party A delays repairs after receiving Party B’s notice on failure and as a result thereof, Party B cannot normally use the Premises for 30 days, Party A shall pay the liquidated damages being equal to 3 months’ rent and Party B shall have the right to suspend paying the subsequent rent.
6. Party B is delinquent in paying the rent hereunder and remains so after Party A’s two written notices pressing for payment. Regardless of whether Party B has paid the water, electricity and gas fees or property management fee of the Premises, without prejudice to Party A’s other rights, if Party B still does not pay the rent within 5 working days after receiving Party A’s written notice pressing for payment, Party A shall have the right to stop providing water, electricity, gas and other property management services to the Premises until Party B has paid up the fees in arrears and overdue int...
Defaulting Liabilities. Where either party (the “Breaching Party”) breaches any of its representations, warranties, rights or obligations under this Agreement, thus causing economic losses to the other party, the other party (the “Non-Breaching Party”) shall be entitled to request it to cure its breach and compensate the direct economic losses thus incurred to the Non-Breaching Party.
Defaulting Liabilities. Both parties have the obligation to fully perform this Agreement. Where either party fails to perform any of its obligations hereunder, or any of its representations or warranties hereunder is materially untrue or inaccurate, such party shall be deemed to default under this Agreement and shall be held liable for all the losses thus incurred to the other party.
Defaulting Liabilities. In the event that the Transferee or the Transferor defaults under this Agreement, thus causing losses to the other party, and such default results in any of the situations as set forth in Article 16 hereof, the non-defaulting party shall be entitled to terminate this Agreement and claim all its actual losses resulting from such default against the defaulting party, and the defaulting party shall make compensation within 30 days after the non-defaulting party makes a written compensation request.
Defaulting Liabilities. Where Party B is in breach of the provisions of this Agreement, Party B shall compensate all losses thus incurred to Party A and bear any and all legal responsibilities arising therefrom.
