Common use of EXPIRATION AND TERMINATION OF THE CONTRACT Clause in Contracts

EXPIRATION AND TERMINATION OF THE CONTRACT. 10.1 The Contract shall be terminated automatically upon expiration of the Lease Term. Party A shall return the deposit of the rent and property management fee (less the amount ought to be paid by Party B and not including addition of interests or indemnity) to Party B within 10 days after Party B's completion of its performance. 10.2 Party B shall complete the obligations below upon the expiration of the Lease Term or 7 days before the termination of the Contract: (1) Party B shall deliver to Party A the equipment and facilities in the Leased Units in good operating condition, except normal wear and tear, damages existing before the Lease Term or caused by force majeure events. (2) Party B shall uninstall the decoration and equipment subsequently improved and restore the Leased Units to their former condition when moving out, except if given a written consent from Party A to maintain the decoration and improvement. (3) Party B shall pay off the rent, property management fee and electricity usage fee and other fees required. 10.3 Party A has a right to unilaterally terminate the contract and keep the rent, provided that Party B has acted as follows. Party B shall be bound to pay the liquidated damages equal to 3 months' rent and other damages to any economic losses of Party A if: (1) Party B conducts illegal business activities. (2) Party B alters the purpose of use of the Leased Units without consent from Party A. (3) The Leased Units are used by third parties other than Party B without consent from Party A. (4) The Leased Units, in whole or part, are subleased, re-lent and exchanged to third parties or used in common by Party B and third parties, without consent from Party A. (5) Party B delays for more than 30 days in making payment for the rent, property management fee and other fees set forth in Article 6 of the Contract. (6) Party B is in a breach of Article 7 of the Contract and cannot efficiently redress within 30 days upon notice from Party A. 10.4 Party B has a right to terminate the Contract before the expiration of the Lease Term because of the business development, after giving notice to Party A 3 months in advance and obtaining mutual consent. This Contract may be terminated in advance through the mutual agreement of both Parties, the deposit of Party B will not be returned. 10.5 Party B has a right to terminate the contract and claim twice the amount of the deposit, provided that Party A cannot deliver the Leased Units within 30 days from execution of the Contract and the receipt of the deposit from Party B. 10.6 If Party A terminates the Contract for no reason, it shall pay to Party B twice the amount of the deposit and shall indemnify the direct losses suffered by Party B, such as decoration expenses. 10.7 Upon the expiration of the Lease Term or 15 days after the termination of the Contract, any properties in the Leased Units that have not been moved out are regarded as being given up by Party B and Party B agrees to authorize Party A to dispose of these properties and charge Party B for any related costs. Party B warrants it will not interfere or intervene such disposal.

EXPIRATION AND TERMINATION OF THE CONTRACT. 10.1 1. The Contract shall be terminated automatically upon expiration of the Lease Term. Party A shall return the deposit of the rent and property management fee (less the amount ought to be paid by Party B and not including addition of interests or indemnity) to Party B within 10 30 days after Party B's completion of its performance. 10.2 2. Party B shall complete the obligations below upon the expiration of the Lease Term or 7 days before the termination of the Contract: (1) Party B shall deliver to Party A the equipment and facilities in the Leased Units in good operating condition, except normal wear and tear, damages existing before the Lease Term or caused by force majeure events. (2) Party B shall uninstall the decoration and equipment subsequently improved and restore the Leased Units to their former condition when moving out, except if given a written consent from Party A to maintain the decoration and improvement. (3) Party B shall pay off the rent, property management fee and electricity usage fee and other fees required. 10.3 3. Party A has a right to unilaterally terminate the contract and keep the rent, provided that Party B has acted as follows. Party B shall be bound to pay the liquidated damages equal to 3 months' rent and other damages to any economic losses of Party A if: (1) Party B conducts illegal business activities. (2) Party B alters the purpose of use of the Leased Units without consent from Party A. (3) The Leased Units are used by third parties other than Party B without consent from Party A. (4) The Leased Units, in whole or part, are subleased, re-lent and exchanged to third parties or used in common by Party B and third parties, without consent from Party A. (5) Party B delays for more than 30 days in making payment for the rent, property management fee and other fees set forth in Article 6 of the Contract. (6) Party B is in a breach of Article 7 of the Contract and cannot efficiently redress within 30 days upon notice from Party A. 10.4 4. Party B has a right to terminate the Contract before the expiration of the Lease Term because of the business development, after giving notice to Party A 3 months in advance and obtaining mutual consent. This Contract may be terminated in advance through the mutual agreement of both Parties, the deposit of Party B will not be returned. 10.5 5. Party B has a right to terminate the contract and claim twice the amount of the deposit, provided that Party A cannot deliver the Leased Units within 30 days from execution of the Contract and the receipt of the deposit from Party B. 10.6 6. If Party A terminates the Contract for no reason, it shall pay to Party B twice the amount of the deposit and shall indemnify the direct losses suffered by Party B, such as decoration expenses. 10.7 7. Upon the expiration of the Lease Term or 15 days after the termination of the Contract, any properties in the Leased Units that have not been moved out are regarded as being given up by Party B and Party B agrees to authorize Party A to dispose of these properties and charge Party B for any related costs. Party B warrants it will not interfere or intervene such disposal.