Common use of Responsibility of Default Clause in Contracts

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 liquidated damages to the other party, and compensate for all the other losses and costs.

Appears in 2 contracts

Samples: Kingold Jewelry, Inc., Kingold Jewelry, Inc.

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Responsibility of Default. Any one party, party who breaks the contract and leads to termination of contract, contract shall pay 1% of the total contract value as liquidated damages to the other party, and compensate for all the other losses and costs.

Appears in 2 contracts

Samples: Office Lease (Kingold Jewelry, Inc.), Store Lease (Kingold Jewelry, Inc.)

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