Common use of Settlement of Debts Clause in Contracts

Settlement of Debts. 1. Party A and Party B shall settle their claims and debts in case of the termination of this Contract due to any reason. 2. Party B shall return any and all documentation and articles related to the franchise granted hereunder to Party A within one week following the expiration of this Contract or receiving by Party B of the notice of termination from Party A, and Party B shall stop using any Xiniya trademark and related marks and logos. 3. Upon the termination of this Contract, if Party B may repay the debts owed to Party A proactively, Party A may help Party B to dispose of the remaining inventory.