Responsibility of Default. Any one party who breaks the contract and leads to termination of contract shall pay 1% of the total contract value as damages to the other party, and compensate for all the other losses and costs.
Responsibility of Default. 8.1 In the event that Party A is solvent but transfers assets to evade repayment of the loan, Party B will collect the loan in accordance with the legal procedure.
8.2 Within the term of this Contract, Party B may require Party A to early repay the loan or dispose the collateral and is entitle to deduct the relevant amount from Party A’s account under any conditions below:
8.1.1 Party A does not use the loan for the purpose as stipulated in this Contract and refuses to correct within the specified period as required by Party A.
8.1.2 The plan, statistics, financial and accounting reports and other documents provided by Party A is false.
8.1.3 Party A is or may be involved in any material litigation, arbitration, or other legal disputes.
8.1.4 Any behavior conducted by Party A which may affects its ability to perform its obligations hereunder or which indicates Party A’s insincerity in repaying the loan.
Responsibility of Default. Either party violates the provisions hereof shall constitute default and shall be held liable for such default and compensate for all direct economic losses suffered by the non-defaulting party.
Responsibility of Default. 因乙方原因导致系统开发工作停止，双方应根据项目的实际完成情况结算费用，乙方应当同时支付本合同价款10%的违约金； If the system development suspends due to Party B, both parties shall complete closing fees according to the actual project performance, and Party B shall undertake 10% of the contract payment as penalty;
Responsibility of Default. (a) If this agreement cannot be implemented or completed from either sides, the breaching Party should bear the responsibilities of default. If the mistakes were made by both Parties, both Parties should bear the responsibilities accordingly.
(b) If the default was due to a force of nature, both Party A and B do not need to bear any responsibilities. However, they should inform each other timely. Otherwise, if the delayed notice causes any loss, the responding Party should bear all of the direct and indirect losses.
Responsibility of Default. Specific responsibility of default shall be carried out according to other relevant clause of EPC turnkey project contract that signed by both parties.
Responsibility of Default. If Party B fails to issue the shares according to Article III, Party B shall pay RMB 500,000 as a penalty to Party A for each overdue month. If still unpaid for over three months, Party A shall be entitled to terminate this agreement and to seek compensation from Party B in addition to the above mentioned penalties.
Responsibility of Default. After execution hereof, Parties shall perform its obligation actively, any violation hereof and warranty clauses shall constitute default, and Default Party shall compensate for the loss of Non-default Party wherefrom.
Responsibility of Default. 1. The failure of one or both of the parties to this Agreement to perform or fully perform their obligations under this Agreement constitutes a breach of contract. In the event of breach of contract, the defaulting party shall, in accordance with the relevant laws, regulations and the provisions of this Agreement, bear liability for breach of contract and indemnify for actual and other losses suffered by the other party.
2. If force majeure causes this Agreement to be unenforced, the parties to the agreement may, in accordance with the influence of force majeure, be exempted from liability in part or in full. If the Party is unable to perform this Agreement due to force majeure, it shall notify the other party in a timely manner, and shall do its utmost to mitigate the losses that may be caused to the other party and provide proof to the other party in a timely manner.
3. Force majeure under this clause is an objective situation that is unpredictable, unavoidable and insurmountable.
4. Party A promises Party B to be the sole partner of this program, otherwise Party A shall be liable for breach of contract and indemnify Party B for all economic losses resulting therefrom.
Responsibility of Default. The default party should pay the other party for default with 0.05% of the default fine s daily interest rate from the starting date to the ending date of the default.
