Common use of Rights and Obligations of Both Parties Clause in Contracts

Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of the Properties, shall be entitled to: 1) receive rent according to this Agreement; 2) other rights regulated in this Agreement. 5.2 Party A, as the lessor of the Properties, shall assume the following obligations: 1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power to rent out the Properties according to this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall bear all the property tax, business tax, additional tax, stamp tax, land-using tax and all the other taxes payable according to laws arising from leasing property to Party B. 4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement. 5) Unless otherwise agreed by both Parties, during the term of this Agreement, Party A shall not, partly or in whole, take back the Properties early, or terminate this Agreement early. 6) Party A shall provide necessary assistance for reasonable requests of Party B related to using of the properties Party B rents according to this Agreement. 5.3 Party B, as the lessee hereunder, shall be entitled to: 1) occupy and use the Properties according to this Agreement; 2) carry out non-structural decoration and reconstruction of the Properties at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of Party A’s Properties and/or Party A’s rights; 3) sublet the Properties, partly or in whole, with prior written consent of Party A; 4) require decrease of the number of sites of the Properties according to its business situations with a written notice to Party A with one month in advance; 5) notwithstanding the above, if any of the Properties is damaged not due to the fault of Party B, Party B may demand termination of the rental of the damaged property by giving written notice to Party A. Party A shall confirm the damage within 30 days after receiving such notice. If Party A fails to confirm within the limited time, Party A will be deemed to have accepted Party B’s demand. Thereafter, the relation between the two parties concerning rental of the damaged property is terminated. Party B does not need to pay the rent for the damaged property from the date of such damage. After Party A completes repair of the damaged property, the two parties may, with consent of Party B, resume the rental relationship in respect of the repaired property according to the terms of this Agreement from the date agreed by both parties; 6) the preemptive right under the same conditions if Party A intends to sell the Properties. 5.4 Party B, as the lessee hereunder, shall assume the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties during the rental term, except when a third party or owner of the building shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties in proper manners and pay compensations for losses such as damage or destruction of the Properties caused by its improper management or usage; 6) to return the Properties to Party A immediately upon the expiry of the rental term or termination of this Agreement.

Appears in 2 contracts

Samples: Property Leasing Agreement (China Life Insurance Co LTD), Property Leasing Agreement (China Life Insurance Co LTD)

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Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of the Properties, shall be entitled to: 1) receive rent according to this Agreement; 2) other rights regulated in this Agreement. 5.2 Party A, as the lessor of the Properties, shall assume the following obligations: 1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power to rent out the Properties according to this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall bear all the property tax, business tax, additional taxVAT and surcharges, stamp tax, land-using tax and all the other taxes payable according to laws arising from leasing property to Party B. 4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement. 5) Unless otherwise agreed by both Parties, during the term of this Agreement, Party A shall not, partly or in whole, take back the Properties early, or terminate this Agreement early. 6) Party A shall provide necessary assistance for reasonable requests of Party B related to using of the properties Party B rents according to this Agreement. 5.3 Party B, as the lessee hereunder, shall be entitled to: 1) occupy and use the Properties according to this Agreement; 2) carry out non-structural decoration and reconstruction of the Properties at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of Party A’s Properties and/or Party A’s rights; 3) sublet the Properties, partly or in whole, with prior written consent of Party A; 4) require decrease of the number of sites of the Properties according to its business situations with a written notice to Party A with one month in advance; 5) notwithstanding the above, if any of the Properties is damaged not due to the fault of Party B, Party B may demand termination of the rental of the damaged property by giving written notice to Party A. Party A shall confirm the damage within 30 days after receiving such notice. If Party A fails to confirm within the limited time, Party A will be deemed to have accepted Party B’s demand. Thereafter, the relation between the two parties concerning rental of the damaged property is terminated. Party B does not need to pay the rent for the damaged property from the date of such damage. After Party A completes repair of the damaged property, the two parties may, with consent of Party B, resume the rental relationship in respect of the repaired property according to the terms of this Agreement from the date agreed by both parties; 6) the preemptive right under the same conditions if Party A intends to sell the Properties. 5.4 Party B, as the lessee hereunder, shall assume the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties during the rental term, except when a third party or owner of the building shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties in proper manners and pay compensations for losses such as damage or destruction of the Properties caused by its improper management or usage; 6) to return the Properties to Party A immediately upon the expiry of the rental term or termination of this Agreement.

Appears in 2 contracts

Samples: Property Leasing Agreement, Property Leasing Agreement (China Life Insurance Co LTD)

Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of the Properties, shall be entitled to: 1) receive rent according to this Agreement; 2) other rights regulated in this Agreement. 5.2 Party A, as the lessor of the Properties, shall assume the following obligations: 1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power to rent out the Properties according to this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall bear all the property tax, business tax, additional tax, stamp tax, land-using tax and all the other taxes payable according to laws arising from leasing property to Party B. 4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement. 5) Party B may require reducing sites of rented property according to its business situations with a written notice to Party A one month in advance. 6) Unless otherwise agreed by both Parties, during the term of this Agreement, Party A shall not, partly or in whole, take back the Properties early, or terminate this Agreement early. 67) Party A shall provide necessary assistance for reasonable requests of Party B related to using of the properties Party B rents according to this Agreement. 5.3 Party B, as the lessee hereunder, shall be entitled to: 1) occupy and use the Properties according to this Agreement; 2) carry out non-structural decoration and reconstruction of the Properties at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of Party A’s Properties and/or Party A’s rights; 3) sublet the Properties, partly or in whole, with prior written consent of Party A; 4) require decrease of the number of sites of the Properties according to its business situations with a written notice to Party A with one month in advance; 5) notwithstanding the above, if any of the Properties is damaged not due to the fault of Party B, Party B may demand termination of the rental of the damaged property by giving written notice to Party A. Party A shall confirm the damage within 30 days after receiving such notice. If Party A fails to confirm within the limited time, Party A will be deemed to have accepted Party B’s demand. Thereafter, the relation between the two parties concerning rental of the damaged property is terminated. Party B does not need to pay the rent for the damaged property from the date of such damage. After Party A completes repair of the damaged property, the two parties may, with consent of Party B, resume the rental relationship in respect of the repaired property according to the terms of this Agreement from the date agreed by both parties; 6) the preemptive right under the same conditions if Party A intends to sell the Properties. 5.4 Party B, as the lessee hereunder, shall assume the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties during the rental term, except when a third party or owner of the building shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties in proper manners and pay compensations for losses such as damage or destruction of the Properties caused by its improper management or usage; 6) to return the Properties to Party A immediately upon the expiry of the rental term or termination of this Agreement.

Appears in 1 contract

Samples: Property Leasing Agreement (China Life Insurance Co LTD)

Rights and Obligations of Both Parties. 5.1 7.1 In addition to the obligations of Party AA stipulated in other clauses of this contract, as the lessor of the Properties, Party A shall be entitled to: 1) receive rent according to this Agreement; 2) other rights regulated in this Agreement. 5.2 Party A, as the lessor of the Properties, shall assume also perform the following obligations: 1) 7.1.1. Party A shall deliver to Party B the houses, ancillary facilities and equipment that meet the requirements and conditions stated in this contract, and Party B shall use them in accordance with the business purposes and conditions stipulated in this contract; 7.1.2. During the contract period, Party A has the right to maintain all the facilities and equipment in the house, while must notify Party B in advance; 7.1.3. Unless otherwise stipulated in this Agreementcontract, Party A guarantees that it has the power to rent out the Properties according to this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall bear all the property tax, business tax, additional tax, stamp tax, land-using tax taxes and all fees payable by the other taxes payable according lessor related to laws arising from leasing property to Party B.the house; 4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing7.1.4. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement. 5) Unless otherwise agreed by both Parties, during the term of this AgreementWithout reasonable reasons, Party A shall not, partly not interfere with or in whole, take back hinder Party B’s normal and reasonable use of the Properties early, or terminate this Agreement earlyhouse. 6) Party A shall provide necessary assistance for reasonable requests 7.2 In addition to the obligations of Party B related to using stipulated in other clauses of the properties this contract, Party B rents according to this Agreement. 5.3 Party B, as shall also perform the lessee hereunder, shall be entitled tofollowing obligations: 1) occupy 7.2.1 Strictly abide by the tenant rules, decoration rules and use the Properties according project management regulations formulated and modified by Party A and/or the management company from time to this Agreementtime; 2) carry out non-structural decoration 7.2.2 No defacement, destruction or unauthorized use of public areas, public facilities and reconstruction of the Properties at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of Party A’s Properties and/or Party A’s rightsequipment; 3) sublet 7.2.3 Without the Properties, partly or in whole, with prior written consent of Party A, no advertising signs shall be displayed outside the house; any promotional activities or similar activities shall not be carried out outside the house; Party A’s project name, logo or Party A’s name, logo, etc. shall not be used without authorization; 4) require decrease 7.2.4 the decoration and decoration work for the house has been completed and passed Party A’s acceptance before the opening date of the number house, and obtain all approvals, business licenses, qualification certificates and permits for legal activities in the house, and shall update them in due course Such approvals, certifications, business licenses and permits. Party B shall provide the originals of sites of the Properties according to its business situations with a written notice all these documents (including updated documents) to Party A with one month for review in advancea timely manner, and provide a copy for Party A to keep; 5) notwithstanding the above7.2.5 Before signing any contract with wireless network service content with operators or other organizations, if any of the Properties is damaged not due to the fault Party B shall obtain written permission from Party A. The coverage of Party B’s wireless network service is limited to the house, and the frequency band selected by Party B may demand termination shall not conflict with the frequency band selected or reserved by Party A. 7.2.6 Party B shall always have the legal and effective intellectual property rights (including but not limited to registered trademarks) related to the performance of this contract during the rental term of this contract, or the damaged right holder’s authorization to allow Party B to legally use such intellectual property by giving written notice to Party A. rights, and guarantee that it shall not infringe upon Party A Party and any third party’s intellectual property rights. Party B shall confirm the damage within 30 days after receiving such noticeensure that Party A is free from all disputes and controversies related to intellectual property rights (including disputes and controversies with obligees and consumers) and administrative penalties. If Party A fails suffers losses due to confirm within the limited timethis, Party A will be deemed has the right to have accepted Party B’s demand. Thereafter, the relation between the two parties concerning rental of the damaged property is terminated. demand full compensation from Party B does (including but not need limited to pay the rent for the damaged property from the date of such damage. After Party A completes repair of the damaged propertyany advance compensation expenses, the two parties mayjoint compensation expenses, with consent of Party Badministrative fines, resume the rental relationship in respect of the repaired property according to the terms of this Agreement from the date agreed by both parties; 6) the preemptive right under the same conditions if Party A intends to sell the Propertiesattorney fees, litigation fees, etc. 5.4 Party B, as the lessee hereunder, shall assume the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties during the rental term, except when a third party or owner of the building shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties in proper manners and pay compensations for losses such as damage or destruction of the Properties caused by its improper management or usage; 6) to return the Properties to Party A immediately upon the expiry of the rental term or termination of this Agreement).

Appears in 1 contract

Samples: Lease Agreement (YanGuFang International Group Co., LTD)

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Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of the Properties, shall be entitled to: 1) receive rent according to this Agreement; 2) other rights regulated in this Agreement. 5.2 Party A, as the lessor of the Properties, shall assume the following obligations: 1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power to rent out the Properties according to this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall bear all the property tax, business tax, additional taxVAT and surcharges, stamp tax, land-using tax and all the other taxes payable according to tax laws and regulations arising from leasing property to Party B. 4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement. 5) In case Party A transfers the Properties rented by Party B under this Agreement to a third party after January 1, 2023, if Party B has invested decoration and improvement expenses during the lease period (including the lease period of previous years) and such decoration and improvement expenses have not been fully amortized when the Properties are transferred, Party A shall compensate Party B for the book loss of such decoration and improvement expenses. The book loss of decoration and improvement expenses for the Properties transferred shall be settled by Party A to Party B by the end of March of the next year of the transfer. During the term of this Agreement, the total amount of unamortized decoration and improvement expenses when Party A’s Properties are transferred is estimated to be RMB 23,744,020.45. The above amounts are for reference only, and the specific amounts shall be determined based on actual disposal and relevant renovation data. 6) Unless otherwise agreed by both Parties, during the term of this Agreement, Party A shall not, partly or in whole, take back the Properties early, or terminate this Agreement early. 67) Party A shall provide necessary assistance for reasonable requests of Party B related to using of the properties Party B rents according to this Agreement. 5.3 Party B, as the lessee hereunder, shall be entitled to: 1) occupy and use the Properties according to this Agreement; 2) carry out non-structural decoration and reconstruction of the Properties at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of Party A’s Properties and/or Party A’s rights; 3) sublet the Properties, partly or in whole, with prior written consent of Party A;; Party B shall not sublet Party A’s Properties hereunder to a third party. With the prior written consent of Party A, Party B may return the whole or part of the area of Party A’s Properties hereunder and deduct the corresponding rent, and Party B may, as entrusted by Party A, lease the returned area to a third party on behalf of Party A and pay any rent received therewith to Party A. 4) require decrease of the number of sites of the Properties according to its business situations with a written notice to Party A with one month in advance; 5) notwithstanding the above, if any of the Properties is damaged not due to the fault of Party B, Party B may demand termination of the rental of the damaged property by giving written notice to Party A. Party A shall confirm the damage within 30 days after receiving such notice. If Party A fails to confirm within the limited time, Party A will be deemed to have accepted Party B’s demand. Thereafter, the relation between the two parties concerning rental of the damaged property is terminated. Party B does not need to pay the rent for the damaged property from the date of such damage. After Party A completes repair of the damaged property, the two parties may, with consent of Party B, resume the rental relationship in respect of the repaired property according to the terms of this Agreement from the date agreed by both parties; 6) the preemptive right under the same conditions if Party A intends to sell the Properties. 7) During the term of this Agreement, if Party A transfers the ownership of Party A’s Properties under this Agreement to a third party, Party B shall have the right to require Party A to make compensation for the remaining book value of improvement expenses by the end of March of the next year after the ownership transfer if there are any improvement expenses for such properties that have not yet been fully depreciated. 5.4 Party B, as the lessee hereunder, shall assume the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties during the rental term, except when a third party or owner of the building shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties in proper manners and pay compensations for losses such as damage or destruction of the Properties caused by its improper management or usage; 6) to return the Properties to Party A immediately upon the expiry of the rental term or termination of this Agreement.

Appears in 1 contract

Samples: Property Leasing Agreement (China Life Insurance Co LTD)

Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of party to rent out the Propertiesproperty, shall be entitled toenjoys the following rights: 1) To receive rent according to this Agreement; 2) To enjoy other rights regulated in this Agreement. 5.2 Party A, as the lessor of party to rent out the Propertiesproperty, shall assume bear the following obligations: 1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power right to rent out the Properties property of Party A according to this Agreement and it has the right to sublet the property for subletting hereunder with consent of a third party according to the property leasing agreement Party A signs with such third party and stipulations of this Agreement. 2) Party A undertakes to take all necessary actions to ensure the compliance property hereunder and renting of the Properties and the lease of the Properties with such property conform to related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses (including all economic losses) caused by Party A’s failure to fulfill the above undertakings. 3) Party A shall rent out and sublet the property as required by Party B. 4) Party A shall bear all the property tax, business tax, additional tax, stamp tax, land-using tax and all the other taxes payable according to laws arising from leasing property to Party B. 45) During the term of this Agreement, in the event provided that Party A intends to transfer its ownership of the Properties property of Party A to a third party, it Party A shall notify inform Party B of such intention in writingintention. Party B has the preemptive preemption right to purchase the Properties such property under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that case Party B waives waivers such preemptive preemption right, Party A may transfer the ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided only with the precondition that the third party, as lessor of the Propertiesparty to rent out the property hereunder, shall be bound by this Agreement. 56) Unless otherwise agreed by both Parties, during the term Party B may require reducing sites of this Agreement, rented property according to its business situations with a written notice to Party A shall not, partly or one month in whole, take back the Properties early, or terminate this Agreement earlyadvance. 67) Party A shall provide necessary assistance for reasonable requests of Party B related to using of the properties property Party B rents according to this Agreement. 8) Party A shall perform all of its obligations as the party to rent out the property and shall not affect Party B’s normal using of the rented property hereunder with any actions or inactions. 9) Unless otherwise regulated in this Agreement, during term of this Agreement, Party A shall not withdraw the property hereunder, partly or wholly, or terminate this Agreement at an earlier time. 5.3 Party B, as the lessee party to rent the hose property hereunder, shall be entitled toenjoys the following rights: 1) to occupy and use the Properties property hereunder according to this Agreement; 2) to carry out non-structural decoration and reconstruction of the Properties property hereunder at its own cost according to its business requirement without violating related laws, regulations and commitments in this Agreement. Such decoration and reconstructions shall not bring adverse effect on the value of the property and/or rights of Party A’s Properties and/or Party A’s rights;A. 3) to sublet the Propertiesproperty of Party A hereunder, partly or in wholewholly, with prior written consent of Party A;A. (inapplicable to the property for subletting) 4) to require increase of the number of sites of the property hereunder according to its business situations, with which Party A shall try its best to satisfy Party B. 5) to require decrease of the number of sites of the Properties property hereunder according to its business situations with a written notice to Party A with one month in advance;. 56) notwithstanding Nevertheless of the above, if any of the Properties property is damaged not due to the fault of Party B’s fault, Party B has the right to decide the damage degree with its own judgment. If the damage is so serious that Party B is not able to use such property in reasonable and normal manner, Party B may demand termination of the rental require terminating rent of the damaged property by giving with a written notice to Party A. Party A shall confirm make confirmation of the damage within 30 15 days after receiving such notice. If In case Party A fails to confirm make confirmation within the limited time, it is deemed Party A will be deemed to have accepted accepts Party B’s demandrequirement. ThereafterAfterwards, the relation between the two parties concerning rental rent of the damaged property is terminated. Party B does not need to pay the rent for the damaged property from the date of such damage. After Party A completes finishes repair of the damaged property, the two parties may, with consent of Party B, resume the rental relationship in respect of relation concerning the repaired property according to the terms of this Agreement from the date agreed by both parties;. 67) To have the preemptive preemption right under the same conditions if in case Party A intends to sell the Properties.property of Party A. 5.4 Party B, as the lessee party that rents the property hereunder, shall assume bear the following obligations: 1) to pay rent according to this Agreement; 2) to be liable for maintenances (excluding structural repairs) of the Properties property hereunder during the rental rent term, except when a third party or owner of the building houses shall bear such liabilities according to agreement between Party A and such third party; 3) to bear fees for water, electricity, heating, repair and other expenses for using the Properties such property during the rent term; 4) to pay compensations for losses to a third party due to decoration and reconstruction during the rent term; 5) to manage and use the Properties property hereunder in proper manners manner and pay compensations for losses such as like damage or destruction elimination of the Properties property caused by its improper management or usageusing behaviors; 6) to return the Properties property hereunder to Party A immediately upon the after expiry of the rental rent term or termination of this Agreement.

Appears in 1 contract

Samples: Property Leasing Agreement (China Life Insurance Co LTD)

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