Party B’s Duties Clause Samples
Party B’s Duties. 4.1 Party B hereby undertakes to Party A that he shall, within his term,
(a) as Party A’s director, perform such duties as assigned from time to time by the Board and exercise such powers as delegated from time to time by the Board;
(b) comply with and conform to any legitimate instructions or guidance issued or made by the Board from time to time and serve Party A to the extent of fiduciary duty and care, and improve Party A’s business and protect Party A’s interest as a whole with his best effort; and
(c) concentrate on and devote his diligence to Party A’s business and interest, and handle Party A’s business and interest in person during any course of normal business hours and such other time as reasonably requested by Party A, with the exemption for those Party B is unable to perform due to illness or Force Majeure, and where shall notify the secretary of the Board in writing of such situation and submit such evidence for the illness or Force Majeure as maybe requested by Party A.
4.2 Party B’s Undertakings:
(a) To Party A, Party B undertakes to comply with and conform to the Company Law, the company’s articles of association, Acquisition and Merger Rules and Share Repurchase Rules set forth by the Securities and Futures Commission of Hong Kong. Party A shall be entitled to the remedies provided in the company’s articles of association. This Agreement and the position of director may not be transferred.
(b) To Party A representing each shareholder, Party B undertakes to follow and perform all the responsibilities to shareholders provided in the Company’s Articles of Association.
Party B’s Duties. 1. Party B undertakes that it will conduct normal and lawful operating activities strictly according to relevant laws and regulations. Any dispute, litigation, etc. arising between Party B and third party during operating activities that does not involve the house shall have nothing to do with Party A.
2. Party B shall pay expenses as scheduled; otherwise, Party B agrees to assume corresponding liabilities for breach according to the provisions of this Contract. If Party B needs to enter for decoration purpose, it shall handle corresponding decoration procedures after having obtained entry procedures, paying the expenses of the first cycle and deposit.
3. Party B shall reasonably use the leased house and ancillary facilities. If the house or surrounding house and facilities are damaged due to improper use of Party B, Party B shall immediately repair or assume corresponding liability of economic compensation.
4. Party B shall be liable for the management of water, electricity, suspended ceiling, lighting, etc. within the lease scope, and may also entrust the property company employed by Party A to repair, and the expenses arising therefrom shall be paid by Party B. Party B shall be liable for the repair/replacement of household appliances, consumables, etc. during the daily times, and Party A shall be liable to repair the main structure of the house.
5. During the lease term, Party A has to enter the house to understand the relevant circumstances of the house. During the performance of this Contract, Party B shall permit Party A and Party A’s authorized representative to enter the house and ancillary things to conduct necessary construction, repair, examination, etc.
6. Party B appoints L▇▇ ▇▇ as company liaison; such company liaison shall be fully responsible to receive documents, notice, confirmation, etc. from Party A, and be responsible for the safety work, safety examination and rectification of the company. Tel: 1▇▇▇▇▇▇▇▇▇▇; address: Gemini Mansion B 9▇▇, ▇ ▇▇▇▇, ▇▇. ▇▇-▇▇ ▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇.
7. Decoration costs shall be assumed by Party B. Party B shall be fully liable for any personal damage, safety accident or property loss that happens during the decoration, and Party A will assume no responsibilities; in addition, Party B shall fully compensate for all losses as suffered by Party A therefore.
Party B’s Duties. 1. The Company and Subsidiary have appointed Party B as the Chief Financial Officer (the “CFO”) to carry out the duties customary for that position.
2. Party B’s duties include without limitation capital management, financing solutions, capital market management, financial advisory, and coordination with third parties regarding corporate accounting and financing.
3. Within three months from the Effective Date (as defined below) of this Agreement, Party B agrees to raise $3,000,000 RMB for the Company (or identify a merger candidate and consummate the merger with the Company).
Party B’s Duties. To pay the rent and other related expense as scheduled.
Party B’s Duties. In cases of acquisition, Party B may effect the transfer of the mobile network information service cooperation relationship (including parent-subsidiary, head-branch relationship and change of company name, etc.) only upon satisfaction of the following conditions:
1. for business involving online games, the acquirer shall have obtained a business license for cross-regional value-added telecommunications issued by Ministry of Industry and Information Technology;
2. the acquirer shall be able to present relevant certificates evidencing its control over the acquired enterprise of more than 50%;
3. the acquirer shall have relevant expertise or measures in place to guarantee the continuous stability of the original business quality and customer service level and shall not affect the customer experience after the acquisition.