Common use of Liability for Default Clause in Contracts

Liability for Default. 5.1 In the event either Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 20 contracts

Samples: Loan Agreement (CooTek(Cayman)Inc.), Loan Agreement (CooTek(Cayman)Inc.), Loan Agreement (CooTek(Cayman)Inc.)

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Liability for Default. 5.1 In the event either Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 . In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 6 contracts

Samples: Loan Agreement (eFuture Information Technology Inc.), Loan Agreement (eFuture Information Technology Inc.), Loan Agreement (Ku6 Media Co., LTD)

Liability for Default. 5.1 In the event either a Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the such Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 In in the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 2 contracts

Samples: Loan Agreement (Asiainfo Holdings Inc), Loan Agreement (Asiainfo Holdings Inc)

Liability for Default. 5.1 In the event either a Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the such Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 2 contracts

Samples: Loan Agreement (Asiainfo Holdings Inc), Loan Agreement (Asiainfo Holdings Inc)

Liability for Default. 5.1 4.1 In the event either Party breaches Borrower reaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 4.2 In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 2 contracts

Samples: Loan Agreement (MK Arizona Corp.), Loan Agreement (Middle Kingdom Alliance Corp.)

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Liability for Default. 5.1 In the event either Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation includinglitigation and attorneys fees) resulting therefrom. In the event that both Parties bothParties breach this Agreement, each Party shall be liable for its respective itsrespective breach. 5.2 In the event that Borrower fails to perform the repayment obligations set forth setforth in this Agreement, Borrower shall pay overdue interest of 0.01% per day perday for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 1 contract

Samples: Exclusive Option Agreement (Greenpower International Group LTD)

Liability for Default. 5.1 4.1 In the event either Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 4.2 In the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 1 contract

Samples: Loan Agreement (ChinaCache International Holdings Ltd.)

Liability for Default. 5.1 In the event either Party breaches this Agreement or otherwise causes the non-performance of this Agreement in part or in whole, the Party shall be liable for such breach and shall compensate all damages (including litigation and attorneys fees) resulting therefrom. In the event that both Parties breach this Agreement, each Party shall be liable for its respective breach. 5.2 In in the event that Borrower fails to perform the repayment obligations set forth in this Agreement, Borrower shall pay overdue interest of 0.01% per day for the outstanding payment, until the day Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

Appears in 1 contract

Samples: Loan Agreement (China Hospitals Inc)

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