Common use of Penalty and Rewards Clause in Contracts

Penalty and Rewards. 5.1 In case of any breach of this Agreement by Party B, Party A shall have the right to require Party B to make an immediate rectification, fixed time improvement, make a public apology to the media and customers, and may choose to suspend approval of any new business intended by Party B, delay or refuse settlement, collect damages, or any combination of the foregoing. If the breach is serious, such as a complaint with Ministry of Industry and Information Technology or the communications authority at a bureau level, media exposure and lawsuit, Party A is entitled to terminate this Agreement immediately.

Penalty and Rewards. 5.1 In case of any breach of this Agreement by Party B, Party A shall have the right to require Party B to make an immediate rectification, fixed time improvement, make a public apology to the media and customers, and may choose to suspend approval of any new business intended by Party B, delay or refuse settlement, collect damages, or any combination of the foregoing. If the breach is serious, such as a complaint with Ministry of Industry and Information Technology or the communications authority at a bureau level, media exposure and lawsuit, Party A is entitled to terminate this Agreement immediatelyimmediately and require Party B bear all losses thereof.