Responsibility of Default Sample Clauses

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. 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. 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. (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. 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. 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. 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.

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. 15.1 Any party shall take the responsibility of default by law if not performing or incompletely performing the obligations agreed in the Contract. 15.2 If the borrower fails to repay the principal or interest of any loan under the contract according to the agreement, the lender shall have the right to charge the borrower’s overdue principal at the rate of 150% of the daily interest rate of the loan on a daily Interest paid is calculated on a daily basis at 150% of the daily interest rate on the loan (to avoid disputes, the daily interest rate for loans is uniformly priced at 7.5%÷360, the same below). At the same time, the lender has the right to expedite some or all of the trust loans due under this contract, and the lender may request the borrower to pay the penalty of 20% of the principal balance of the loan at that time. 15.3 If the borrower fails to use the loan for the purposes agreed in this contract, the lender has the right to use the loan for breach of contract by the borrower according to the number of days in breach of the contract, and collects interest on a daily basis at 200% of the daily interest rate of the loan (to avoid any controversy, the loan date of the interest rate is uniformly priced at 7.5% (360%). At the same time, the lender is entitled to expedite some or all of the trust loans due under this contract, and the lender may request the borrower to pay the default penalty of 20% of the principal balance of the loan at that time. 15.4 In case of the following behaviors, the Lender is entitled to announce the acceleration of maturity of loan, stop issuing the funds which have not been withdrew by the Borrower and withdraw all loans in advance. The Borrower shall pay all payable but unpaid principal, interest and expenses under the Contract by the date determined in notice of the acceleration of maturity. The Borrower shall amend and take remedial measures satisfied to the Lender within 5 days after receiving the notice of the Lender. (1) Provide the Lender with false or subreptitious balance sheet, profit and loss statement and other financial information, contract and agreement related to the transaction, etc. (2) Violate this Contract by not notifying the Lender under the circumstances that it should notify the Lender, or not adopting payment, guarantee or other remedial measures under this Contract; (3) In case of the following situations that the Lender holds it may endanger the safety of creditor’s right under the Contract: th...