Obligations of Party A. (I) Party A shall draw the borrowing and pay the principals and interest accruals thereon in full subject to this Contract, as well as bear all applicable fees hereunder.
(II) Party A shall provide all information concerning its finance and accounting, production and operation at the request of Party B, including but not limited to providing Party B with its balance sheets, profit and loss statements (income and expenditure statements in the event of a public institution) as at the end of the immediately preceding quarter within the first twenty working days in the beginning of the first month of each quarter, as well as providing its cash flow statements of the year at the end of such year in a timely manner. Furthermore, Party A shall ensure that all the information provided by it is lawful, true, complete, accurate and valid, free of false information, or without concealing material operating and financial matters.
(III) If Party A changes or replaces its name, legal representative (responsible officer), registered address, scope of business, registered capitals or articles of association by completing any such change and/or replacement in the registration with the Administration for Industry and Commerce, it shall send a written notice to Party B together with the information concerning such change or replacement within five working days upon occurrence of any such change or replacement.
(IV) Party A shall use the borrowing according to this Contract other than engaging in any transactions in violation of laws and rules by embezzling, misusing or misappropriating the borrowing; meanwhile, it shall coordinate and accept the inspection and monitoring by Party B over its production, operation, financial activities and use of borrowing hereunder. And it shall not avoid its obligations owed to Party B by taking out capitals, transferring assets or taking advantage of related transactions, nor make banking discount or create charges for getting capitals or credits from a bank by taking advantage of false contracts with its related parties, or receivable notes and receivables lack of actual transactions.
(V) Party A shall comply with applicable environment protection regulations of the PRC if it conducts manufacture and engineering construction by using the borrowing hereunder.
(VI) Before paying the principals and interest accruals thereon to Party B, Party A shall not create a guarantee in favor of a third party on the assets created by using the borrowing ...
Obligations of Party A. 4.1 Party B’s services hereunder are exclusive. During the term of this Agreement, without the prior written consent of Party B, Party A shall not enter into any agreement with any other third party or accept from such third party any other service same as or similar to the services provided by Party B.
4.2 Party A shall provide Party B with its definitive Annual Business Plan for the next year before November 30 of each year so that Party B may prepare corresponding service plan and arrange the required manpower and service capacity. If Party A needs any manpower to be arranged by Party B temporarily, it shall negotiate with Party B fifteen (15) days in advance to reach an agreement.
4.3 To facilitate the provision of the Services by Party B, at the request of Party B, Party A shall provide Party B with the information required by Party B.
4.4 Party A shall pay the Service Fee to Party B promptly and fully according to the provisions of Article 3 hereof.
4.5 Party A shall maintain its own good reputation, actively expand its business, and strive to maximize its revenue.
4.6 During the term of this Agreement, Party A agrees to cooperate with Party B and Party B’s parent company (whether direct or indirect) to carry out audits on related-party transactions or other issues and provide relevant information and material relating to Party A’s operation, business, client, finance, employee, etc. to Party B and Party B’s parent company or the auditor appointed by Party B, and agrees that Party B’s parent company may disclose such information or material to meet the requirements of the regulators in the place where the securities of Party B’s parent company are listed.
Obligations of Party A. Party A agrees to provide the management services to Party B pursuant to this Agreement timely during the term of this Agreement.
Obligations of Party A. 1) Party A will provide the premises and attached facilities (see the appendix of furniture list for detail) on schedule to Party B for using.
2) In case the premise and attached facilities are damaged by quality problems, natural damages or accidents, Party A will be responsible to repair and pay the relevant expenses. If Party A can’t repair the damaged facilities in two weeks so that Party B can’t use the facilities normally, Party B has the right to terminate the contract and Party A must return the deposit.
3) Party A will guarantee the lease right of the premises. In case of occurrence of ownership transfer in whole or in part and other accidents affecting the right of lease by Party B, Party A shall guarantees that the new owner, and other associated ,third parties shall be bound by the terms of this contract. Otherwise, Party A will be responsible to compensate party B’s losses.
4) Party A must register this contract with the relevant government authority If not doing so resulting that this contract is invalid or Party B’s right of leasing may be damaged , Party A should take the all responsibilities. Party A should also bear the all the relevant taxes.
Obligations of Party A. (1) To enable Party B to provide the technical services satisfactorily, Party A shall ensure that it will fully inform Party B of its business arrangements, and will provide to Party B on a regular basis information regarding its business activities.
(2) Party A shall timely provide to Party B its financial materials and information, including but not limited to Party A’s monthly, quarterly and annual financial and accounting statements, budget arrangements and business plans;
(3) Party A shall promptly report to Party B regarding Party A’s involvement in any pending or threatened litigation or arbitration, or regarding any pending or threatened administrative penalty made by related government authority against it; and
(4) Party A shall provide to Party B other information at Party B’s reasonable request.
Obligations of Party A. 4.1 The service provided by Party B under this Agreement is exclusive. During the term of this Agreement, Party A shall and shall procure its subsidiary not to enter into any other agreements with a third party for a service identical or similar to Party B's service without prior written permission from Party B.
4.2 Party A shall provide Party B with the final copy of Party A and its subsidiary's annual business plan for the next year before November 30 of each year to help Party B to prepare relevant service plan and purchase software, equipment and consolidate its technical service force. In case Party A requires Party B to extemporaneously buy new equipment, it shall negotiate and reach a consensus with Party B fifteen (15) days in advance.
4.3 To facilitate Party B's provision of service, Party A shall and procure its subsidiary to provide relevant information to Party B promptly and accurately upon Party B’s request.
4.4 Party A shall pay Party B the service fees on time and in full in accordance with Article 3 of this Agreement.
4.5 Party A shall maintain its good reputation, proactively expand business, and maximize its profit.
Obligations of Party A. 6-1 Party A is obliged to guarantee the house use right of Party B within the term of lease. Party A shall not lease the subject housing unit to a third party.
Obligations of Party A. 1. In the case of national planning and municipal land use, Party A shall assist Party B in complying with national requirements, laws, and regulations and shall compensate Party B for the ground attachments and crude salt field on the land leased by Party B.
2. Party A shall, when necessary, help Party B to coordinate the surrounding relations of the crude salt field and ensure the normal production of the salt field property. Party B shall adhere to Party A's management and maintain the integrity of the salt field.
3. Party A has not established any form of guarantee on the salt field it owns, and there is no legal defect in any form, and Party A guarantees that Party B will not encounter any issues or face threats of a similar nature after the transfer of the salt field.
4. Party B's acquisition of Party A's crude salt field assets represents only a portion of Party A's assets, and Party A warrants that the acquisition of assets will not be accompanied by any debt, and will not affect the normal operations of Party A. Party B will not assume any of Party A's creditor's rights or debts; all such obligations will remain the responsibility of Party A. Additionally, Party A shall be responsible for settling any disputes with staff formerly working at the purchased salt pans, and Party B shall not assume any responsibility for these matters.
5. Party A shall be responsible for the re-arrangement of the staff who originally worked at the purchased crude salt field, and Party B shall not bear any resettlement costs or undertake any employment relationship. The required staff shall be internally deployed or re-recruited by Party B.
Obligations of Party A a) Abide by the laws, rules, regulations and policies of the country, respect the staff’s spirit of ownership, and develop an enterprise environment benefit to give full play to staff’s initiativeness and creativity.
b) Take the responsibility to offer Party B with education and training services in respects of politics and ideology, professional ethics, business technology, secure production, law and discipline compliance and Company’s bylaws.
c) Establish and improve the staff representative conference and other democratic administration system, ensure and give incentive to the participation of staffs in democratic administration of Company, supervise the administrative work of the Company, and protect the legal rights and benefits of all staffs.
d) Party A shall pay a monthly remuneration to Party A in full and on time and shall also provide Party B with relevant insurance and welfarisim treatment. Furthermore, Party A shall strictly follow the lowest salary insurance system as stipulated by the country and the government. Matters regarding to employee's pension insurance shall be governed in accordance with the current applicable provisions of the country.
e) Party A shall strictly abide by the working hours system carried out by the country. In case of the production requirements, the working hours may be extended with the prior approval of labor union and Party B, but it shall not violate any applicable provision of the country and additional salary shall be paid to Party B for his overtime work.
f) Party A shall not terminate the labor contract herein in case that Party B suffers from any of the following circumstances:
i. This labor contract has not expired and Party B is not subject to the satisfaction of terms and conditions for the termination of the labor contract as set forth in Article 4, 2) c) herein;
ii. Party B has had an occupational disease or injured when working for Party A and has been identified as disabled or partially disabled;
iii. Party B becomes sick or suffers injuries, which is within a prescribed medical treatment period;
iv. Female staff is on pregnancy, maternity or nursing leave;
v. Other circumstance as may specified by laws, rules and regulations.
Obligations of Party A. 1. Party A guarantees that they have full ownership of the leased property under this contract, and there is no dispute to the ownership.
2. Party A to ensures that the main production plant construction is in line with the requirements of fire protection, and has issued and filed the construction project papers in regards to fire protection to Party B. Party B is responsible for the compliance of fire protection regulations after re-renovation. Party B should renovate according to fire protection regulations.
3. Party A shall hand over the plants and dormitories to Party B as is. Party B. Party B, without affecting the structural safety of the plant, can carry out re-renovation. Party A should ensure that the leased property and its ancillary facilities are in normal operating conditions. The parties shall confirm and explain in detail the current status of the leased property and its ancillary facilities, subsidiary properties etc., and include such information in the appendix.
4. Party A provides existing power supply facilities for Party B to use. If Party B needs to increase the capacity of power supply, then Party B should pay at their own expense and apply to relevant departments. From the date of signing this contract, Party B shall be responsible for the maintenance of the relevant power supply facilities.
5. If force majeure events occur, such as government actions (including: government power cutoff, power line maintenance, municipal pipeline constructions) or weather conditions (e.g. earthquakes, storms), causing water outage, power failure, and other circumstances, both Party A and Party B are not responsible to one another for the obligations caused by such occurrences.
