Common use of Defaulting Liabilities Clause in Contracts

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. 11.1 8.1 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 (hereinafter 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 nonNon-defaulting Party and the rectification requirement, the nonNon-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 8.2 The Parties agree and acknowledge that under the Shareholders or the Company shall in no circumstances shall Party A circumstance be entitled to terminate demand for termination of this Agreement for whatever reason, in advance unless otherwise provided by law herein or this Agreementpursuant to law. 11.3 8.3 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.

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 (hereinafter 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 nonNon-defaulting Party and the rectification requirement, the nonNon-defaulting Party shall be entitled to decide to, at its discretion: : (1) terminate this Agreement and require demand the Defaulting Party to indemnify all the damages; or or (2) require the performance of the obligations hereunder and require demand the Defaulting Party to indemnify all the damages. 11.2 Notwithstanding any provision under Article 11.1 above, the The Parties agree and acknowledge confirm that under in no circumstances shall Party A be entitled to terminate the Existing Shareholders and the Company demand for termination of this Agreement for whatever reasonwith any cause, unless otherwise provided by law this Agreement or this Agreementotherwise stipulated by laws. 11.3 The rights and remedies set out herein shall be cumulative and not exclusive of any other right or remedy conferred by laws. 11.4 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.

Defaulting Liabilities. 11.1 7.1 The Parties agree and acknowledge that, if any Party (hereinafter the “Defaulting Party”) commits material breach breaches of any provision hereof, or materially fails to perform or delays the performance of any obligation hereunder, such breach breach, failure or failure delay shall constitute a default under this Agreement (hereinafter a “Default”), then the non-defaulting Party (hereinafter the “Non-defaulting Party”) shall be entitled to demand the Defaulting Party to rectify remedy such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify remedy such Default or take remedial measures within such reasonable period or within fifteen ten (1510) days following the written notice issued given by the nonNon-defaulting Party and requiring such Default to be remedied, then the rectification requirement, the nonNon-defaulting Party shall be entitled to decide have the right to, at its sole discretion, choose any remedy for breach below: (1) if the Defaulting Party is the Assignor, then the Assignee has the right to terminate this Agreement and require the Defaulting Party to indemnify all the damages; or (2) require if the performance of Defaulting Party is the obligations hereunder and Assignee, then the Assignor has the right to require the Defaulting Party to indemnify all the damagesdamages and except as otherwise provided by law, has no right to terminate or cancel this Agreement in any circumstance. 11.2 Notwithstanding any provision under Article 11.1 above, the 7.2 The Parties agree and acknowledge that under no circumstances except as otherwise provided by law, the Assignor shall Party A be entitled to not terminate this Agreement for whatever reason, unless otherwise provided by law or this Agreementreason in any event. 11.3 7.3 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.

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 or delays the performance of any obligation hereunder, such breach breach, failure or failure delay 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 remedy such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify remedy such Default or take remedial measures within such reasonable period or within fifteen ten (1510) days following the written notice issued given by the non-defaulting Party and the rectification requirementrequiring such Default to be remedied, 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 in 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. 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 or delays the performance of any obligation hereunder, such breach breach, failure or failure delay shall constitute a default under this Agreement (hereinafter a “Default”), then the non-defaulting Party (hereinafter the “Non-defaulting Party”) shall be entitled to demand the Defaulting Party to rectify remedy such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify remedy such Default or take remedial measures within such reasonable period or within fifteen ten (1510) days following the written notice issued given by the nonNon-defaulting Party and requiring such Default to be remedied, then the rectification requirement, the nonNon-defaulting Party shall be entitled to decide have the right to, at its own discretion: (1) , take the following measure: 11.1.1 If the Existing Shareholder or the Company is the Defaulting Party, the WFOE has the right to terminate this Agreement and require the Defaulting Party to indemnify all the damages; or (2) require ; 11.1.2 If the performance of WFOE is the obligations hereunder and Defaulting Party, the Non-defaulting Party has the right to require the Defaulting Party to indemnify all the damages, except as otherwise provided by law, it has no right to terminate or cancel this Agreement in any event. 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. 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 nonNon-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 demand the Defaulting Party to indemnify all the damages; or or (2) require the performance of the obligations hereunder and require demand the Defaulting Party to indemnify all the damages. 11.2 Notwithstanding any provision under Article 11.1 above, the The Parties agree and acknowledge confirm that under in no circumstances shall Party A be entitled to terminate the Existing Shareholders and the Company demand for termination of this Agreement for whatever reasonwith any cause, unless otherwise provided by law this Agreement or this Agreementotherwise stipulated by laws. 11.3 The rights and remedies set out herein shall be cumulative and not exclusive of any other right or remedy conferred by laws. 11.4 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.

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 (hereinafter 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 nonNon-defaulting Party and the rectification requirement, the nonNon-defaulting Party shall be entitled to decide to, at its discretion: : (1) terminate this Agreement and require demand the Defaulting Party to indemnify all the damages; or or (2) require the performance of the obligations hereunder and require demand the Defaulting Party to indemnify all the damages. 11.2 Notwithstanding any provision under Article 11.1 above, the The Parties agree and acknowledge confirm that under in no circumstances shall Party A be entitled to terminate the Existing Shareholders and the Company demand for termination of this Agreement for whatever reasonwith any cause, unless otherwise provided by law this Agreement or this Agreementotherwise stipulated by laws. 11.3 Notwithstanding The rights and remedies set out herein shall be cumulative and not exclusive of any other provisions herein, the validity of this Article 11 shall survive the suspension right or termination of this Agreementremedy conferred by laws.

Defaulting Liabilities. 11.1 9.1 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 or delays the performance of any obligation hereunder, such breach breach, failure or failure delay shall constitute a default under this Agreement (hereinafter a “Default”), then the non-defaulting Party (hereinafter the “Non-defaulting Party”) shall be entitled to demand the Defaulting Party to rectify remedy such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify remedy such Default or take remedial measures within such reasonable period or within fifteen ten (1510) days following the written notice issued given by the nonNon-defaulting Party and requiring such Default to be remedied, then 9.1.1 If the rectification requirementShareholder or the Company is the Defaulting Party, the non-defaulting Party shall be entitled WFOE has the right to decide to, at its discretion: (1) terminate this Agreement and require the Defaulting Party to indemnify all the damages; or (2) require 9.1.2 If the performance of WFOE is the obligations hereunder and Defaulting Party, the Non-defaulting Party has the right to require the Defaulting Party to indemnify all the damages. 11.2 Notwithstanding any provision under Article 11.1 above, the Parties agree damages and acknowledge that under no circumstances shall Party A be entitled to terminate this Agreement for whatever reason, unless except as otherwise provided by law law, it has no right to terminate or cancel this AgreementAgreement in any event. 11.3 9.2 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.

Defaulting Liabilities. 11.1 10.1 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 (hereinafter 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 nonNon-defaulting Party and the rectification requirement, the nonNon-defaulting Party shall be entitled to decide to, at its discretion: (1) terminate this Agreement and require demand the Defaulting Party to indemnify all the damages; or (2) require the performance of the obligations hereunder and require demand 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 10.2 Notwithstanding any other provisions herein, the validity of this Article 11 10 shall survive the suspension or termination of this Agreement.

Defaulting Liabilities. 11.1 8.1 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 any of the non-defaulting Party (hereinafter 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 nonNon-defaulting Party and the rectification requirement, the nonNon-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 by the Defaulting Party and require the Defaulting Party to indemnify all the damages. 11.2 Notwithstanding any provision under Article 11.1 above, the 8.2 The Parties agree and acknowledge that under the Shareholders or the Company shall in no circumstances shall Party A circumstance be entitled to terminate demand for termination of this Agreement for whatever reason, in advance unless otherwise provided by law herein or this Agreementpursuant to law. 11.3 8.3 Notwithstanding any other provisions herein, the validity of this Article 11 shall survive the suspension or termination of this Agreement.