liability for breach contract. 1. Party A and Party B shall strictly abide by the stipulation of this agreement and the attachment hereto, and shall bear the liability for breach of contract. 2. If Party B provides false information and materials in default and thus causes the invalidity of the loan contract, in addition to the compensation for the losses of the investors of the platform (Assignee of the creditor’s rights) and Party A as agreed, Party B shall also pay Party A the penalty for breach of contract equivalent to 30% of the total amount of the loan. 3. If Party B fails to fulfill its duty to review its recommended customers with discretion, thus caused losses to the investors of the platform (Assignee of the creditor’s rights) or Party A, Party B shall compensate for such losses, and pay to Party A 10% of the amount of the loan as penalty for breach of contract. If Party B has breach of contract twice, Party A shall have the right to choose to unilaterally terminate this agreement. 4. If either party of Party A and Party B breaches the confidentiality agreement, the breaching party shall pay the penalty the observant party RMB 1 millionyuan, for the losses surpassing the penalty for breach of contract, the breaching party shall also compensate for such losses. At the same time, the observant party shall have the right to terminate this agreement. 5. If Party B has other defaults, thus caused losses to Party A, Party B shall compensate for such losses, and at the same time pay the penalty for breach of contract RMB 1 millionyuan. 6. If Party A’s breach of contract causes losses to Party B, Party A shall compensate for such losses, and at the same time pay the penalty for breach of contract RMB 1 millionyuan. 7. The losses referred to in this agreement include but are not limited to, the loan principal and interest, penalty for breach of contract and the attorney’s fees, traveling expenses, valuation fee and litigation costs, etc. incurred by the claims for the rights.
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liability for breach contract. 1. Party A and Party B shall strictly abide by the stipulation of this agreement and the attachment hereto, and shall bear the liability for breach of contract.
2. If Party B provides false information and materials in default and thus causes the invalidity of the loan contract, in addition to the compensation for the losses of the investors of the platform (Assignee of the creditor’s rights) and Party A as agreed, Party B shall also pay Party A the penalty for breach of contract equivalent to 30% of the total amount of the loan.
3. If Party B fails to fulfill its duty to review its recommended customers with discretion, thus caused losses to the investors of the platform (Assignee of the creditor’s rights) or Party A, Party B shall compensate for such losses, and pay to Party A 10% of the amount of the loan as penalty for breach of contract. If Party B has breach of contract twice, Party A shall have the right to choose to unilaterally terminate this agreement.
4. If either party of Party A and Party B breaches the confidentiality agreement, the breaching party shall pay the penalty the observant party RMB 1 millionyuan, for the losses surpassing the penalty for breach of contract, the breaching party shall also compensate for such losses. At the same time, the observant party shall have the right to terminate this agreement.
5. If Party B has other defaults, thus caused losses to Party A, Party B shall compensate for such losses, and at the same time pay the penalty for breach of contract RMB 1 millionyuan.
6. If Party A’s breach of contract causes losses to Party B, Party A shall compensate for such losses, and at the same time pay the penalty for breach of contract RMB 1 millionyuan.
7. The losses referred to in this agreement include but are not limited to, the loan principal and interest, penalty for breach of contract and the attorney’s fees, traveling expenses, valuation fee and litigation costs, etc. incurred by the claims for the rights.1
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