Common use of Responsibility for Breach of Contract Clause in Contracts

Responsibility for Breach of Contract. 15.1 After the entry into force of this contract, both parties shall fulfill their obligations under this contract, any failure or incomplete performance of the obligations stipulated in this contract, or breach of the declarations, guarantees and commitments made by either party under this contract, constitutes a breach of contract and shall be liable for breach of contract. 15.2 For the reasons of Party A or the guarantor under this contract, Party A fails to complete the corresponding guaranty procedures in accordance with the contract, or Party A fails to go to Party B for withdrawal formalities in accordance with the time stipulated in this contract, and the loan issuance time exceeds 30 days (including statutory holidays and rest days), Party B shall have the right to cancel the contract and recover the payment in advance. 15.3 If Party A fails to repay the principal of the loan due (including early maturity) within the repayment period stipulated in this contract, it shall, from the date of expiration, charge a penalty interest rate of 50% at the interest rate stipulated in this contract, and collect the overdue interest; If Party A fails to pay the interest within the term of the loan, it shall collect and recover the interest according to the loan interest rate stipulated in this contract; interest that has not been paid after the expiration of the loan shall be recovered at the penalty interest rate stipulated in this paragraph. 15.4 If Party A fails to use the loan for the purpose specified in this contract, the principal and interest of the loan shall be increased by 50% as the penalty interest rate from the date of breach of contract, and the penalty interest and compound interest shall be calculated and collected. 15.5 If the loan under this contract is overdue or used for the purpose specified in the contract, the overdue interest, penalty interest and compound interest shall be charged monthly. 15.6 If Party A breaches the contract and causes Party B to realize its creditor’s rights through litigation, Party A shall bear the appraisal fee, appraisal fee, auction fee, litigation fee, arbitration fee, notarization fee, lawyer’s fee and other reasonable expenses for Party B to realize its creditor’s rights.

Responsibility for Breach of Contract. 15.1 After (I) On the entry into force of this contractconditions that Party B has performed the agreed obligations hereunder, both parties shall fulfill their obligations under this contract, any failure or incomplete performance of the obligations stipulated in this contract, or breach of the declarations, guarantees and commitments made by either party under this contract, constitutes a breach of contract and shall be liable for breach of contract. 15.2 For the reasons of Party A or the guarantor under this contract, if Party A fails to complete issue the corresponding guaranty procedures loan in accordance with the contractfull amount as scheduled, or which brings losses to Party A fails to go B, it shall pay penalty fines to Party B for withdrawal formalities in accordance with according to the time stipulated in this contract, exact amount of breach and the loan issuance time exceeds 30 days (including statutory holidays and rest number of actual delay days), Party B . The penalty fines shall have the right to cancel the contract and recover the payment in advance. 15.3 If Party A fails to repay the principal of the loan due (including early maturity) within the repayment period stipulated in this contract, it shall, from the date of expiration, charge a penalty interest rate of 50% at the interest rate stipulated in this contract, and collect the overdue interest; If Party A fails to pay the interest within the term of the loan, it shall collect and recover the interest according to be calculated based on the loan interest rate agreed herein. (II) For the loan funds that fail to be repaid within the stipulated in this contract; time period or fail to be used for the purpose agreed herein, the interest shall be calculated and charged at the punitive interest rate from the day when the loan funds become overdue or begin to fail to be used for the purpose agreed herein until the principal and interest are repaid. For the interest that has not been fail to be paid after on time, a compound interest shall be calculated and charged according to the expiration of interest calculation and settlement means and the corresponding punitive interest rate agreed herein. The punitive interest rate for Party B’s failure to repay the loan within the agreed time period shall be recovered at an additional 50% on the penalty loan interest rate; The punitive interest rate stipulated in this paragraph. 15.4 If for Party A fails B’s failure to use the loan for the purpose specified agreed herein shall be an additional 100% on the loan interest rate. The punitive interest rate will be adjusted together with the adjustment to the loan interest rate agreed herein. (III) If Party B fails to draw and use the loan funds in this contractthe agreed manner, fails to comply with the commitments, submits loan application documents containing untrue information, goes beyond the agreed restriction of financial metrics, commits major cross violation or violates other obligations hereunder, Party A will charge and calculate the interest rate at the punitive interest rate from the day when Party B obtains the loan until the principal and interest of have been repaid. For the interest that fails to be paid on time, a compound interest will be charged and calculated in the interest calculation and settlement means and the corresponding punitive interest rate agreed herein. The punitive interest rate shall be an additional 100% on the loan shall be increased by 50% as the penalty interest rate. The punitive interest rate from will be adjusted together with the date of breach of contract, and adjustment to the penalty loan interest and compound interest shall be calculated and collectedrate agreed herein. 15.5 If the loan under this contract is overdue or used for the purpose specified in the contract, the overdue interest, penalty interest and compound interest shall be charged monthly. 15.6 If (IV) In case Party A breaches the contract and causes Party B has to realize its creditor’s rights through litigationlawsuit, arbitration and notarization for compulsory enforcement, etc, Party A B shall bear the appraisal fee, appraisal fee, auction fee, litigation fee, arbitration fee, notarization fee, lawyer’s fee and other reasonable expenses for full costs incurred by Party B A to realize its creditor’s rights.rights and the corresponding security interest (including but not limited to costs of litigation, arbitration, property preservation, enforcement, assessment, auction, attorney fees, etc)

Responsibility for Breach of Contract. 15.1 1. After the entry into force of this contractContract takes effect, both parties shall fulfill their obligations under this contract, any failure or incomplete performance of the obligations stipulated Borrower and the Lender shall perform the obligation specified in this contract, the Contract. Any party which default or breach of incompletely perform the declarations, guarantees and commitments made by either party under this contract, constitutes a breach of contract and obligation specified in the Contract shall be liable bear the corresponding responsibility for breach of contract. 15.2 For 2. In case the reasons of Party A or the guarantor under this contract, Party A fails to complete the corresponding guaranty procedures in accordance with the contract, or Party A fails to go to Party B for withdrawal formalities in accordance with the time stipulated in this contract, and the loan issuance time exceeds 30 days (including statutory holidays and rest days), Party B shall have the right to cancel the contract and recover the payment in advance. 15.3 If Party A fails to repay the principal of the loan due (including early maturity) within the repayment period stipulated in this contract, it shall, from the date of expiration, charge a penalty interest rate of 50% at the interest rate stipulated in this contract, and collect the overdue interest; If Party A fails to pay the interest within the term of the loan, it shall collect and recover the interest according to the loan interest rate stipulated in this contract; interest that has not been paid after the expiration of the loan shall be recovered at the penalty interest rate stipulated in this paragraph. 15.4 If Party A Borrower fails to use the loan for in accordance with the purpose purposes specified in this contractthe Contract, fails to pay the loan in accordance with the agreed method, fails to obey representations and warranties, or the application for loan has information distortion, breaks through the agreed financial index, encounters major cross defaults, etc., which fails to perform any provision of the Contract, the Lender has the right to take one or some measures as follows: (1) Require the Borrower to correct defaults within a definite time; (2) Stop paying the Borrower unused and unpaid loan under the Contract; (3) Require the Borrower to complement and provide issuing and payment conditions of loan in accordance with the Lender’s requirements or cancel the Borrower’s using of loan by “direct payment”; (4) Unilaterally decide the acceleration of maturity of full or part debts; (5) Unilaterally terminate the Contract, and require the Borrower to pay off the due or undue principal and interest of loan and pay or compensate the Lender’s related loss; (6) In case the loan is overdue, require the Borrower to pay overdue default interest; in case the Borrower diverts the loan, require the Borrower to pay diverting default interest; require the Borrower to pay compound interest of unpaid interest; (7) Require the Borrower to add or change the guarantor, mortgage, pledge/pledge rights; (8) Implement or realize related rights of loan under any guarantee; (9) Directly deduct and collect funds from any account opened by the Borrower in the Lender and all sub-branches of Industrial Bank without a necessary to through judicial process, or entrust the opening bank of the Borrower’s account to deduct and collect funds, including but not limited to principal and interest of loan (including default interest, compound interest), relevant expenses under the Contract, etc. In case the currency in the account is different from the currency of loan, the Lender has the right to deduct and collect by converting the middle rate published by the Lender in that day into the loan currency to pay off the principal and interest of loan; (10) File a lawsuit or arbitration to require the Borrower to pay off principal and interest of loan. The creditor’s expanses of realizing creditor’s rights are undertaken by the Borrower; (11) The Lender has the right to detain the Borrower’s any movable or immovable property, tangible or intangible property that under the Lender’s control and occupation, or take other measures approved by the Lender; (12) Other measures regulated by laws and regulations, or agreed by the Contract, or approved by the Lender; 3. Under the premise that the Borrower conforms to the conditions precedent for drawing and loan shall be increased by 50% as the penalty interest rate from the date of breach of contract, and the penalty interest and compound interest shall be calculated and collected. 15.5 If the loan under this contract is overdue or used for the purpose payment conditions specified in the Contract, if the Lender fails to provide the loan in accordance with the agreed date and amount, leading to the Borrower’s loss, the Lender shall compensate the Borrower’s direct economic loss caused thereby. However, the Lender takes no responsibility for compensating any predictable or unforeseeable indirect loss of the Borrower caused thereby. 4. In the process of the Contract performance, the materials provided by the Borrower are untrue, inaccurate, incomplete or have any other defects, which leads a wrong or untimely payment by the Lender, or the Borrower breaches this Contract agreement with the independent payment or results in other losses, the Lender bears no responsibility. 5. The Lender bears no responsibility for loan issuing and payment disputes or other losses caused by blocked account of loan issuing or payment agreed in the Contract, or other reasons; 6. The Lender is entitled to take measures in accordance with the Article 2 in the Contract when guarantor under the Contract (i.e. the warrantor, mortgager, and pledgor) has the occurrence of the following matters: (1) The warrantor fails to perform agreement of warranty contract, or its credit standing worsens, or it encounters other matters that weaken its guarantee ability; (2) The mortgager fails to perform agreement of mortgage contract, or intentionally damage collateral security, or the overdue interestvalue of collateral security may reduce or has reduced obviously, penalty interest and compound interest shall or other matters that are harmful to the Lender’s mortgage right; (3) The pledgor fails to perform agreement of pledge contract, or the value of pledge may reduce or has reduced obviously, or pledge right must be charged monthlycased before paying off the loan, or other matters that are harmful to the Lender’s pledge right. 15.6 If Party A breaches the contract and causes Party B to realize its creditor’s rights through litigation, Party A shall bear the appraisal fee, appraisal fee, auction fee, litigation fee, arbitration fee, notarization fee, lawyer’s fee and other reasonable expenses for Party B to realize its creditor’s rights.

Responsibility for Breach of Contract. 15.1 After the entry into force of this contract, both parties shall fulfill their obligations under this contract, any failure or incomplete performance of the obligations stipulated in this contract, or breach of the declarations, guarantees and commitments made by either party under this contract, constitutes a breach of contract and shall be liable results in liability for breach of contract. 15.2 For the reasons of Party A or the guarantor under this contract, Party A fails to complete the corresponding guaranty procedures in accordance with the contract, or Party A fails to go to Party B for withdrawal formalities in accordance with the time stipulated in this contract, and the loan issuance time exceeds 30 days (including statutory holidays and rest days), Party B shall have the right to cancel the contract and recover the payment in advance. 15.3 If Party A fails to repay the principal of the loan due (including early maturity) within the repayment period stipulated in this contract, it Party B shall, from the date of expiration, charge a penalty interest rate of 50% at plus the interest rate stipulated in this contract, and collect the overdue interest; If Party A fails to pay the interest within the term of the loan, it Party B shall collect and recover the compound interest according to the loan interest rate stipulated in this contract; interest that has not been paid after the expiration of the loan shall be recovered at the penalty interest rate (compound interest) stipulated in this paragraph. 15.4 If Party A fails to use the loan for the purpose specified in this contract, the principal and interest of the loan shall be increased by 50% as the penalty interest rate from the date of breach of contract, and the penalty interest and compound interest shall be calculated and collected. 15.5 If the loan under this contract is overdue or not used for the purpose specified in the contract, the overdue interest, penalty interest and compound interest shall be charged monthly. 15.6 If Party A breaches the contract and causes Party B to realize its creditor’s rights through litigation, Party A shall bear the appraisal fee, appraisal fee, auction fee, litigation fee, arbitration fee, notarization fee, lawyer’s fee and other reasonable expenses for Party B to realize its creditor’s rights.

Responsibility for Breach of Contract. 15.1 After the entry into force of this contract, both parties shall 1. In case either party fails to fulfill their its obligations under this contractagreement, any failure or incomplete performance of the obligations stipulated in this contract, or breach of the declarations, guarantees and commitments made by either party under this contract, constitutes a breach of contract and it shall be liable assume corresponding responsibility for breach of contractagreement as follows: (1) During the above due diligence and after this agreement is signed by P arty A, in the event Party A finds that the Target Company has an undisclosed debt issue other than the debts revealed to Party A, the equity interest in the Target Company is defective or there is a dispute over such equity interest, any condition that makes the equity transfer impossible, or the equity transfer of the Target Company cannot be approved by the registration authority for the Target Company, Party A shall have the right to terminate this agreement and Party B shall refund the payments it has received from Party A and pay an amount equal to the down payment to Party A as liquidated damages. 15.2 For (2) In the reasons event this agreement is terminated due to force majeure factors such as the change of national policies, Party B shall refund the payments it has received within three days of the termination of this agreement. Party B shall pay an amount equal to 0.05% per day of the said amount to be refunded to Party A or as liquidated damages accruing from the guarantor under this contract, date of payment through the date of refund. (3) In the event Party A fails to complete pay the corresponding guaranty procedures specified sale price for the equity interest to Party B in accordance with this agreement, it shall pay an amount equal to 0.05% of the contract, or Party A fails to go due amount to Party B for withdrawal formalities in accordance with as liquidated damages on a daily basis accruing from the time stipulated in this contract, and date the loan issuance time exceeds 30 days (including statutory holidays and rest days), amount is due through payment date. Party B shall have the right to cancel terminate the contract and recover agreement unilaterally without refunding any payment it has received if the overdue payment in advanceexceeds 15 days. 15.3 If (4) In the event Party B fails to promptly fulfill any obligation and it still fails to fulfill such obligation after five days of receipt of Party A’s notice of default, Party B shall pay an amount equal to 0.05% of the total sale price of the equity interest to Party A fails to repay the principal of the loan due (including early maturity) within the repayment period stipulated in this contract, it shall, as liquidated damages on a daily basis accruing from the date of expiration, charge a penalty interest rate of 50% at the interest rate stipulated in this contract, and collect the overdue interest; If Party A fails to pay the interest within the term of the loan, it shall collect and recover the interest according to the loan interest rate stipulated in this contract; interest that has not been paid after the expiration of the loan shall be recovered at the penalty interest rate stipulated in this paragraph. 15.4 If Party A fails to use the loan for the purpose specified in this contract, the principal and interest fifth day of receipt of the loan shall be increased by 50% as the penalty interest rate from the date said notice of breach default through payment or termination of contractthis agreement, and the penalty interest and compound interest shall be calculated and collected. 15.5 If the loan under whichever is earlier; if this contract amount is overdue or used for the purpose specified in the contract, the overdue interest, penalty interest and compound interest shall be charged monthly. 15.6 If Party A breaches the contract and causes Party B to realize its creditor’s rights through litigationnot paid after 15 days, Party A shall bear have the appraisal fee, appraisal fee, auction fee, litigation fee, arbitration fee, notarization fee, lawyer’s fee right to terminate this agreement unilaterally and other reasonable expenses for ask Party B to realize its creditor’s rightsrefund the payments it has received. In the event of such termination, in addition to the aforementioned liquidated damages, Party B shall pay an amount equal to 30% of the total sale price for the equity interest to Party A as liquidated damages. (5) In case it is impossible to conduct the shareholder registration change registration for the equity transfer due to any reason caused by Party B or the Target Company, Party A shall have the right to terminate the agreement unilaterally, and Party B shall refund the payments paid by Party A and pay an amount equal to 30% of the total sale price for the equity interest as liquidated damages to Party A. 2. Any delinquent party violating Article 8 of the agreement shall pay an amount equal to 30% of the total sale price for the equity interest to the innocent party as liquidated damages. 3. Without prejudice to the above provisions, a delinquent party shall compensate the innocent for the all losses suffered by the innocent party due to the violation of this agreement by the delinquent party.