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 interest. If Party B’s business operations are thus affected, Party A shall not have any liability. In addition, Party B shall pay the rent, management fee and other expenses set forth hereunder for the period during which Party A takes the measure in this Article. 7. Party B hereby expressly agrees and declares: at any time following the occurrence of the following events, Party A has the right to lawfully and prematurely repossess the Premises and the equipment supplied by Party A, this Contract shall be terminated with immediate effect and Party B shall bear the following defaulting liabilities to Party A: 1) Pay Party A the reduced and exempted rents for the lease period already used by Party B at the rent rate specified herein; pay Party A the liquidated damages being equal to three months’ rent; 2) Pay Party A the liquidated damages being equal to the total rent for the remaining lease term of Party B so as to cover Party A’s losses. Both parties shall take necessary measures to reduce losses. If Party A’s actual losses (including, but not limited to, litigation cost, lawyer cost, property conservation cost, enforcement cost, etc) are reduced, the compensation to be paid by Party B shall be reduced accordingly. Such events include: A. If Party B fails to pay the lease deposit on time without good reason for more than 30 days or fails to pay the rent and property management fee on time without good reason for 15 days, the deposit cannot cover the delinquent payment and Party B still does not pay them up upon Party A’s notice pressing for payment. The provision in Item 1) hereof applies. B. Except as otherwise specified, Party B breaches this Contract and fails to remedy such breach within 15 days after Party A’s written notice. C. Party B becomes bankrupt or goes into liquidation proceedings. 8. Due to the breach by Party B of this Contract, when Party A gives Party B written notice stating that Party A will exercise the right hereunder to prematurely repossess the Premises, it shall be deemed that Party A has fully exercised this right and Party A is not required to exercise this right by entering the Premises. 9. Upon expiry of the lease term or premature termination of this Contract, if Party B fails to return the Premises on time, then Party B shall pay Party A the liquidated damages being equal to twice original daily rent per delayed day. If such failure exceeds 15 days, Party A shall have the right to enter the Premises and all the renovations, facilities and articles within the Premises will be retained or dismantled. Party A is not required to compensate Party B in respect of the residual value of renovations, facilities and articles. 10. Within the lease term, except as otherwise specified herein, neither party shall cancel or terminate this Contract without permission. If either party needs to prematurely terminate this Contract, it shall give the other party 3 months’ prior written notice and the non-breaching party shall pay the breaching party the liquidated damages being equal to the three months’ rent and property management fee for the current lease year.
Appears in 2 contracts
Samples: House Lease Contract (Tudou Holdings LTD), House Lease Contract (Tudou Holdings LTD)
Defaulting Liabilities. (1. If ) Where Party A loses B is delinquent in paying the lawful right over the Premises and as a result thereofrent, Party B cannot continue to use the Premises, shall pay 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.
20.5% of the overdue rent per delayed day until the remedying of such breach or the contact termination. If Where Party B cannot complete necessary industrial and commercial registration by using A fails to deliver the Premises and on time for 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 Contractown reason, 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 exception0.5% of the monthly rent per delayed day until the remedying of such breach or the contact termination.
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. (2) Within the lease term, if either party terminates the Lease prematurely pursuant to Paragraph (2), Article 10 of the Main Contract, the terminating party shall, in addition to paying liquidated damages to the other party, compensate the other party for the economic losses thus incurred.
(3) Where Party A guarantees that terminates the Premises are in a normally usable Lease pursuant to the provisions of Paragraph (2), Article 5 of this Supplementary Agreement, the lease deposit and safe conditionremaining rent (if any) will not be refunded. If Party A delays repairs after receiving Party B’s notice on failure and as a result thereof, Party B Where the agreed liquidated damages 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 interest. If Party B’s business operations are thus affected, Party A shall not have any liability. In addition, Party B shall pay the rent, management fee and other expenses set forth hereunder for the period during which Party A takes the measure in this Article.
7. Party B hereby expressly agrees and declares: at any time following the occurrence of the following events, Party A has the right to lawfully and prematurely repossess the Premises and the equipment supplied by Party A, this Contract shall be terminated with immediate effect and Party B shall bear the following defaulting liabilities to Party A:
1) Pay Party A the reduced and exempted rents for the lease period already used by Party B at the rent rate specified herein; pay Party A the liquidated damages being equal to three months’ rent;
2) Pay Party A the liquidated damages being equal to the total rent for the remaining lease term of Party B so as to cover Party A’s losses. Both parties shall take necessary measures to reduce losses. If Party A’s actual losses (including, but not limited to, litigation cost, lawyer cost, property conservation cost, enforcement cost, etc) are reduced, the compensation to be paid by Party B shall be reduced accordingly. Such events include:also compensate the corresponding economic losses.
A. If (4) Where Party B fails terminates the Lease pursuant to pay the lease deposit on time without good reason for more than 30 days or fails to pay the rent and property management fee on time without good reason for 15 daysprovisions of Paragraph (3), Article 5 of this Supplementary Agreement, then Party A shall refund the deposit and remaining rent (if any). Where the agreed liquidated damages under the Lease cannot cover Party B’s losses, Party A shall also compensate the delinquent payment and Party B still does not pay them up upon Party A’s notice pressing for payment. The provision in Item 1) hereof appliescorresponding economic losses.
B. Except as otherwise specified, Party B breaches this Contract and fails to remedy such breach within 15 days after Party A’s written notice.
C. Party B becomes bankrupt or goes into liquidation proceedings.
8. Due to the breach by Party B of this Contract, when Party A gives Party B written notice stating that Party A will exercise the right hereunder to prematurely repossess the Premises, it shall be deemed that Party A has fully exercised this right and Party A is not required to exercise this right by entering the Premises.
9. Upon expiry of the lease term or premature termination of this Contract, if (5) Where Party B fails to return the Premises on timetime following the termination of the Lease, then Party B shall pay Party A the liquidated damages being equal to twice original occupancy fee of the Premises at the daily rent per delayed day. If such failure exceeds 15 days, Party A shall have rate computed by dividing the right to enter monthly rent of the then current month when the Premises and all shall be returned under the renovations, facilities and articles within the Premises will be retained Lease (or dismantled. Party A is not required to compensate Party B previous month in respect case of the residual value no then current month) by thirty X 2 X number of renovations, facilities and articlesoverdue days.
10. Within the lease term, except as otherwise specified herein, neither party shall cancel or terminate this Contract without permission. If either party needs to prematurely terminate this Contract, it shall give the other party 3 months’ prior written notice and the non-breaching party shall pay the breaching party the liquidated damages being equal to the three months’ rent and property management fee for the current lease year.
Appears in 1 contract
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 rightshereby agrees that, if Party B still does not pay fails to renew the rent within 5 working days lease of the Premises from Party A after receiving Party A’s written notice pressing for paymentexecution hereof, Party A shall have the right to stop providing waterconfiscate all the deposit already paid by Party B to Party A or to claim from Party B liquidated damages in an amount equal to all the deposit. Party A hereby agrees that, electricity, gas and other property management services if Party A fails to renew the lease of the Premises until to Party B has paid up the fees in arrears and overdue interest. If Party B’s business operations are thus affectedafter execution hereof, Party A shall not have any liability. In addition, refund the deposit in full and pay another amount equal to the deposit to Party B shall pay the rent, management fee and other expenses set forth hereunder for the period during which Party A takes the measure in this Articleas liquidated damages.
72. Party B hereby expressly agrees and declares: at any time following During the occurrence of the following eventsRenewal Term hereunder, Party A has the right to lawfully and prematurely repossess the Premises and the equipment supplied by Party A, if this Contract shall be is terminated with immediate effect and Party B shall bear the following defaulting liabilities to Party A:
1) Pay Party A the reduced and exempted rents for the lease period already used earlier by Party B at the rent rate specified herein; pay or by Party A the liquidated damages being equal to three months’ rent;
2) Pay Party A the liquidated damages being equal according to the total rent for provisions of Article 24 of the remaining lease term of Party B so as to cover Party A’s losses. Both parties shall take necessary measures to reduce losses. If Party A’s actual losses (including, but not limited to, litigation cost, lawyer cost, property conservation cost, enforcement cost, etc) are reduced, the compensation to be paid by Party B shall be reduced accordingly. Such events include:
A. If Party B fails to pay the lease deposit on time without good reason for more than 30 days or fails to pay the rent and property management fee on time without good reason for 15 days, the deposit cannot cover the delinquent payment and Party B still does not pay them up upon Party A’s notice pressing for payment. The provision in Item 1) hereof applies.
B. Except as otherwise specified, Party B breaches this Contract and fails to remedy such breach within 15 days after Party A’s written notice.
C. Party B becomes bankrupt or goes into liquidation proceedings.
8. Due to the breach by Party B of this Original Lease Contract, when Party A gives Party B written notice stating that Party A will exercise the right hereunder to prematurely repossess the Premises, it shall be deemed that regarded as a material default on the Party A has fully exercised this right and Party A is not required to exercise this right by entering the Premises.
9. Upon expiry of the lease term or premature termination of this Contract, if Party B fails to return the Premises on time, then Party B shall pay Party A the liquidated damages being equal to twice original daily rent per delayed day. If B. In such failure exceeds 15 daysa case, Party A shall have the right to enter confiscate all the deposit already paid by Party B and Party B shall pay to Party A all the rent incurred during the period from the day of default to the day on which the agreed lease term hereunder expires as the liquidated damages. If the confiscated deposit and liquidated damages are insufficient to cover all the losses and damages suffered by Party A as a result (including but not limited to rent, property management fee and lawyer’s fees, cost of restoration, etc), Party B must supplement the difference immediately upon receipt of the notice from Party A. However, if Party B unilaterally rescinds this Contract by giving Party A six months’ written notice within the Renewal Term hereunder, no matter what the reason may be, it shall not be regarded as a default and in such a case Party B is not liable to Party A for any default or compensation, except for paying Party A the rent for the rent-free period (if any) which has already been enjoyed by Party B before such earlier termination. In contrast, if Party A unilaterally terminates this Contract not due to any reason specified in any applicable law or under Article 24 of the Original Lease Contract, Party B, in addition to requesting Party A to refund the deposit in full, shall also have the right to request Party A to pay liquidated damages which shall be equal to one hundred percent (100%) of the rent for the period beginning on the day when use of the Premises by Party B is terminated and all ending on the renovationsday when the Renewal Term hereunder expires. However, facilities and articles if Party A unilaterally rescinds this Contract by giving Party B six months’ written notice within the renewal term hereunder and recovers the Premises will earlier, no matter what the reason may be, it shall not be retained or dismantled. regarded as a default and in such a case Party A is not required liable to compensate Party B in respect of the residual value of renovations, facilities and articles.
10. Within the lease termfor any default or compensation, except as otherwise specified herein, neither party shall cancel or terminate this Contract without permission. If either party needs for refunding to prematurely terminate this Contract, it shall give Party B the other party 3 months’ prior written notice and the non-breaching party shall pay the breaching party the liquidated damages being equal to the three months’ rent and property management fee for the current lease year.deposit previously paid by Party B.
Appears in 1 contract
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 After 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 term 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 rightsbegins, if Party B still does not pay fails to lease from Party A the rent within 5 working days after receiving Party A’s written notice pressing for paymentPremises hereunder, Party A shall have the right to stop providing waterconfiscate the deposit placed by Party B at Party A; if Party A fails to lease to Party B the Premises hereunder, electricityParty A will pay Party B an amount equal to two times the deposit placed by Party B at Party A.
2. Unless otherwise specified in Article 24 hereof or any other applicable provision, gas neither party shall terminate this Contract at its own discretion. In case any party hereto breaches this Contract, it shall compensate the non-breaching party for any and all the economic losses (incl. legal expenses) incurred by the non-breaching party as a result.
3. If Party B breaches any provision under Article 24 hereof or materially breaches any other relevant provision, Party A, in addition to unilaterally terminating this Contract, may deduct from the rent deposit, property management services fee deposit or any other deposit all the losses and expenditures. If the deposits are insufficient to cover such losses and expenditures, Party A may request Party B to supplement the Premises difference.
4. After receiving from Party A the notice requesting Party B to pay the electricity fee for the previous month, Party B shall not refuse to make the payment. Otherwise, any failure to make such payment shall be regarded as a material default. If Party B fails to make the payment within sixty (60) days after the due time, Party A, in addition to unilaterally terminating this Contract in accordance with the provisions of Paragraph 2 of Article 24 hereof, may have the right to cut off the electricity supply until Party B has paid up all the fees electricity fee in arrears and overdue interestfull. If Party B’s business operations are thus affected, Party A shall not have any liability. In additionBesides, Party B shall pay be responsible for all the rentexpenses incurred for re-connecting the electricity supply.
5. Within the lease term hereof (excluding any renewed lease term), management fee and other expenses set forth hereunder for if Party B terminates the period during which lease earlier or if this Contract is terminated unilaterally by Party A takes according to any provision of the measure in this Article.
7. foregoing Paragraph 3 and Paragraph 4, it shall be regarded as a material default on the part of Party B hereby expressly agrees and declares: at any time following the occurrence of the following events, Party A has the right to lawfully and prematurely repossess the Premises and the equipment supplied by in such a case Party A, this Contract shall be terminated with immediate effect and Party B shall bear in addition to confiscate all the following defaulting liabilities to Party A:
1) Pay Party A the reduced and exempted rents for the lease period already used deposit placed by Party B at Party A, shall have the rent rate specified herein; right to request Party B to pay Party A damages which shall be one hundred percent (100%) of the liquidated damages being equal to three months’ rent;
2) Pay Party A the liquidated damages being equal to the total rent for the remaining lease term of period from the day when Party B so as to cover Party A’s losses. Both parties shall take necessary measures to reduce losses. If Party A’s actual losses (including, but not limited to, litigation cost, lawyer cost, property conservation cost, enforcement cost, etc) are reduced, the compensation to be paid by Party B shall be reduced accordingly. Such events include:
A. If Party B fails to pay terminates the lease deposit on time without good reason for more than 30 days or fails to pay the rent and property management fee on time without good reason for 15 days, the deposit cannot cover the delinquent payment and Party B still does not pay them up upon Party A’s notice pressing for payment. The provision in Item 1) hereof applies.
B. Except as otherwise specified, Party B breaches this Contract and fails to remedy such breach within 15 days after Party A’s written notice.
C. Party B becomes bankrupt or goes into liquidation proceedings.
8. Due to the breach by Party B of this Contract, day when Party A gives Party B written notice stating that Party A will exercise the right hereunder to prematurely repossess the Premises, it shall be deemed that Party A has fully exercised this right and Party A is not required to exercise this right by entering the Premises.
9. Upon expiry of the lease term or premature termination of this Contract, if Party B fails to return the Premises on time, then Party B shall pay Party A the liquidated damages being equal to twice original daily rent per delayed dayhereunder expires. If such failure exceeds 15 days, Party A shall have the right to enter deduct the Premises and all above-mentioned damages directly from the renovationssaid deposit and, facilities and articles within if the Premises deposit is insufficient to cover the damages, to claim the difference from Party B.
6. If Party A deducts any amount from the deposit placed by Party B at Party A according to the provisions hereof, Party B shall, when requested by Party A, immediately supplement the amount deducted from the deposit. Otherwise, it will be retained or dismantled. regarded as a material default on the part of Party B and Party A is not required shall have the right to compensate Party B in respect of immediately repossess the residual value of renovationsPremises, facilities and articles.
10. Within the lease term, except as otherwise specified herein, neither party shall cancel or terminate this Contract without permission. If either party needs to prematurely terminate this Contract, it shall give confiscate all the other party 3 months’ prior written notice and the non-breaching party shall pay the breaching party the liquidated damages being equal to the three months’ rent and property management fee for deposit already paid by Party B and claim damages from Party B in accordance with the current lease yearprovisions of this article.
Appears in 1 contract
Samples: Lease Contract (Tudou Holdings LTD)
Defaulting Liabilities. 1. If Party A loses 10.1 In 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 event that either party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default. Where defaulting party is a party in Party B and/or the Company, Party B shall have undertake the joint and several responsibility for such indemnification.
10.2 Without prejudice to any other provision in this Article 10, where either party fails to perform any of its obligations under this Contract, besides any other right and remedy under this Contract, the other party shall be entitled to suspend paying request the subsequent rent until defaulting party to perform such obligation. Both parties expressly waive the elimination defense regarding the sufficiency of liquidated damages.
10.3 Without prejudice to any other provision in this situation. If Article 10, where Party A fails to do so for more than 30 dayspay the Equity Transfer Price in full to Party B pursuant to the provisions of Article 3.3 hereof, Party B shall have the right be entitled to terminate this Contract and demand request Party A in writing to pay the liquidated damages being equal to three months’ rent.
4such Equity Transfers Price. If the delivery of the Premises is delayed for Party A’s reason, Should Party A shall pay fail to make full payment within 7 workdays of receiving the liquidated damages being equal to 3 months’ rent. If the delay in delivering the Premises lasts for 3 monthssaid written notice from Party B, Party B shall have the right be entitled to unilaterally terminate this Contract.
5. Within the lease term, Contract based on such material default and request Party A guarantees that to compensate the Premises are in a normally usable losses, damages 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 interest. If Party B’s business operations are thus affected, Party A shall not have any liability. In addition, Party B shall pay the rent, management fee and other expenses set forth hereunder for the period during which Party A takes the measure in this Article.
7. Party B hereby expressly agrees and declares: at any time following the occurrence of the following events, Party A has the right to lawfully and prematurely repossess the Premises and the equipment supplied by Party A, this Contract shall be terminated with immediate effect and Party B shall bear the following defaulting liabilities to Party A:
1) Pay Party A the reduced and exempted rents for the lease period already used by Party B at the rent rate specified herein; pay Party A the liquidated damages being equal to three months’ rent;
2) Pay Party A the liquidated damages being equal to the total rent for the remaining lease term of Party B so as to cover Party A’s losses. Both parties shall take necessary measures to reduce losses. If Party A’s actual losses costs (including, but not limited to, litigation cost, lawyer cost, property conservation cost, enforcement cost, etcreasonable attorney’s fee) are reduced, the compensation relating to be paid by Equity Transfer caused to Party B shall be reduced accordingly. Such events include:by such termination.
A. If 10.4 Without prejudice to any other provision in this Article 10, where either party in Party B fails to pay transfer the lease deposit on time without good reason for more than 30 days or fails equity to pay Party A in full conformity with the rent terms and property management fee on time without good reason for 15 days, the deposit cannot cover the delinquent payment and Party B still does not pay them up upon Party A’s notice pressing for payment. The provision in Item 1) hereof applies.
B. Except as otherwise specified, Party B breaches this Contract and fails to remedy such breach within 15 days after Party A’s written notice.
C. Party B becomes bankrupt or goes into liquidation proceedings.
8. Due to the breach by Party B conditions of this Contract, when Party A gives shall be entitled to request Party B written notice stating that in writing to transfer the equity to Party A will exercise pursuant to the right hereunder to prematurely repossess the Premises, it shall be deemed that Party A has fully exercised this right terms and Party A is not required to exercise this right by entering the Premises.
9. Upon expiry of the lease term or premature termination conditions of this Contract, if . If Party B still fails to return handle the Premises on time, then industrial and commercial alteration registration of equity transfer within 7 workdays of receiving the said written notice from Party B shall pay Party A the liquidated damages being equal to twice original daily rent per delayed day. If such failure exceeds 15 daysA, Party A shall have the right be entitled to enter the Premises and all the renovations, facilities and articles within the Premises will be retained or dismantled. Party A is not required to compensate Party B in respect of the residual value of renovations, facilities and articles.
10. Within the lease term, except as otherwise specified herein, neither party shall cancel or unilaterally terminate this Contract without permission. If either party needs based on such material default and request Party B to prematurely terminate this Contractcompensate the losses, it shall give the other party 3 months’ damages and costs (including, but not limited to, reasonable attorney’s fee) relating to Equity Transfer caused to Party A prior written notice and the non-breaching party shall pay the breaching party the liquidated damages being equal to the three months’ rent and property management fee for the current lease yearsuch termination.
Appears in 1 contract
Samples: Equity Transfer Contract (VanceInfo Technologies Inc.)
