Common use of Liability for Breach of the Agreement Clause in Contracts

Liability for Breach of the Agreement. 6.1 Any breach by either party of its obligations under the Agreement shall constitute a breach of the Agreement. The breaching party shall immediately cease such breach upon receipt of a written notice from the non-breaching party on correction of such breach, and shall be liable for all economic losses caused to the non-breaching party by its breach. 6.2 Party A shall be entitled to terminate the Agreement and request Party B to make payment of liquidated damages if Party B fails to perform its obligations hereunder and still refuses to perform after being urged by Party A. The specific amount of liquidated damages shall be determined depending on the liability for breach of the Agreement and the loss for breach of the Agreement. The upper limit of liquidated damages shall be the full proceeds obtained by Party B through the Agreement, including but not limited to the Warrant. If Party B has not exercised the Warrant, Party A shall be entitled to revoke the Warrant issued to Party B for the unexercised portion. 6.3 Both parties may modify and supplement the Agreement in written form through negotiation. In addition, neither party shall modify the Agreement without authorization; otherwise, it shall bear the corresponding liability for breach of the Agreement.

Liability for Breach of the Agreement. 6.1 Any breach by either party 20.1 If a Party fails to perform any of its material obligations under the Agreement shall constitute a breach of the this Agreement, then that Party has breached this Agreement. The breaching party shall immediately cease such In this case, the non-defaulting Parties may give the Party in breach upon receipt of a written notice that it is in breach of this Agreement and should remedy such breach within thirty (30) days from the date of the notice. If the breach has not been remedied within such 30-day period, any non-defaulting Party has the right to issue a Termination Notice. 20.2 In case of a breach under this Agreement, the Party in breach shall be liable to compensate the non-breaching party on correction defaulting Parties for all Losses incurred as a result of the breach. The termination rights set out in Clause 22.1 (if applicable) are in addition to the other remedies available to a non-defaulting Party under this Agreement. Termination of this Agreement in the exercise of such breach, and rights shall be liable for all economic losses caused not relieve any Party from obligations accrued to the non-breaching party by its breachdate of termination, or relieve a Party in breach from liability for damages. 6.2 20.3 Waiver by any Party A of one or more defaults shall be entitled not deprive such Party of the right to terminate the this Agreement and request Party B to make payment and/or claim damages in respect of liquidated damages if Party B fails to perform its obligations hereunder and still refuses to perform after being urged by Party A. The specific amount of liquidated damages shall be determined depending on the liability for breach of the Agreement and the loss for breach of the Agreement. The upper limit of liquidated damages shall be the full proceeds obtained by Party B through the Agreement, including but not limited to the Warrant. If Party B has not exercised the Warrant, Party A shall be entitled to revoke the Warrant issued to Party B for the unexercised portionany subsequent default or Losses incurred therefrom. 6.3 Both parties may modify and supplement the Agreement in written form through negotiation. In addition, neither party shall modify the Agreement without authorization; otherwise, it shall bear the corresponding liability for breach of the Agreement.