Termination, Breach Liability and Indemnity Clause Samples

Termination, Breach Liability and Indemnity. 4.1 Any party who violates its obligations under this Agreement (“Breaching Party”), the other party (“Non-Breaching Party”) may serve a written notice requiring the Breaching Party to correct its breach. The Breaching Party shall within 30 days upon the receipt of such notice cease its breach, and shall indemnify all losses suffered by the Non-Breaching Party therefrom; where the Breaching Party continues to violates its obligation after 30 days upon the receipt of such notice, the Non-Breaching Party may have the right to terminate this Agreement unilaterally, and may concurrently require the Breaching Party to indemnify its all losses suffered therefrom. 4.2 Any tolerance, grace or suspension in exercising any rights stipulated by laws or agreed in this Agreement of the Non-Breaching Party to any breach of the Breaching Party shall not be deemed as a waiver of Non-Breaching Party’s rights. 4.3 The Transferer shall indemnify, contest, and hold the Transferee harmless from all and any claim of right, indemnity, liability, expenditure and expense, including but not limited to reasonable attorney fees, ought to be assumed by the Transferee, its senior employees, managers, directors, shareholders, members, representatives, agents and employees, in the lawsuits or legal proceedings between the indemnifier and the indemnified, or the indemnified and any other third party resulted from any dispute over the patent rights and assets under this Agreement or any lawsuits lodged by the third party for the same due to the violation of any statuary or agreed warranty, representation or other agreement by the Transferer. 4.4 Article 4 hereof shall survive upon the termination of this Agreement.