Common use of Liability for Default Clause in Contracts

Liability for Default. 11.1. The Parties agree and acknowledge that if any Party (the “Defaulting Party”) substantially breaches any provision hereof, or substantially fails to perform or delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time limit. If the Defaulting Party fails to cure such Default or take remedial measures within such reasonable time limit or within ten (10) days after the non-defaulting Party notifies the Defaulting Party in writing and requests it to cure such Default, the non-defaulting Party shall have the right to do the following: (i) if Party A is the Defaulting Party, Party B shall have the right to elect to terminate this Agreement and demand Party A to indemnify for damages, or demand enforced performance by Party A of its obligations hereunder; (ii) if Party B is the Defaulting Party, Party A shall have the right to demand Party B to indemnify for damages, provided that, unless otherwise stipulated under the Laws, in no event may Party A terminate or rescind this Agreement.

Liability for Default. 11.1. 9.1 The Parties agree and acknowledge that if any Party (hereinafter referred to as the “Defaulting Party”) substantially breaches any provision hereofof this Agreement, or substantially fails to perform or delays in performing any obligations hereunderobligation under this Agreement, such breach, failure or delay shall constitute a default hereunder Default under this Agreement (hereinafter referred to as the “Default”) and that in such event, any Party of the nonother Non-defaulting Party Parties (hereinafter referred to as the “Non-defaulting Parties”) shall have the right be entitled to demand require the Defaulting Party to cure such Default or take remedial measures remedies within a reasonable time limitperiod. If the Defaulting Party fails to cure such Default or take remedial measures remedies within such reasonable time limit or within ten (10) fifteen days after the nonNon-defaulting Party notifies Parties notify the Defaulting Party in writing and requests require it to cure such Default, the nonrelevant Non-defaulting Parties are entitled to at their absolute discretion (1) terminate this Agreement and require Defaulting Party shall have to indemnify it for all the right to do damages; or (2) require the following: (i) if Party A is specific performance of the Defaulting Party’s obligations under this Agreement and require the Defaulting Party to indemnify it for all the damages. For the avoidance of doubt, Party B shall have the right to elect Shareholders or the Company will be entitled to terminate this Agreement and demand Party A pursuant to indemnify for damages, or demand enforced performance by Party A this section merely in the event of its obligations hereunder; (ii) if Party B is the Defaulting Party, Party A shall have Default of the right to demand Party B to indemnify for damages, provided that, unless otherwise stipulated under the Laws, in no event may Party A terminate or rescind this AgreementWFOE.

Liability for Default. 11.1. 12.1 The Parties agree and acknowledge that if any Party (the “Defaulting Party”) substantially breaches any provision hereofhereunder, or substantially fails to perform or substantially delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time limittime. If the Defaulting Party fails to cure such Default or take remedial measures within such reasonable time limit or within ten (10) days after the non-defaulting Party notifies the Defaulting Party in writing and requests it to cure such Default, and if the Defaulting Party is Party A, the non-defaulting Party may elect, in its discretion, to (1) terminate this Agreement and demand the Defaulting Party to fully indemnify for damage; or (2) demand enforced performance by the Defaulting Party of its obligations hereunder and full indemnification from the Defaulting Party for damage; if the Defaulting Party is Party B, the non-defaulting Party shall have the right to do the following: (i) if Party A is demand continued performance by the Defaulting Party, Party B shall have the right to elect to terminate this Agreement and demand Party A to indemnify for damages, or demand enforced performance by Party A of its obligations hereunder; (ii) if Party B is hereunder and full indemnification from the Defaulting Party, Party A shall have the right to demand Party B to indemnify for damages, provided that, unless otherwise stipulated under the Laws, in no event may Party A terminate or rescind this Agreementdamage.

Liability for Default. 11.1. 9.1 The Parties agree and acknowledge that if any Party (hereinafter referred to as the “Defaulting Party”) substantially breaches any provision hereofof this Agreement, or substantially fails to perform or delays in performing any obligations hereunderobligation under this Agreement, such breach, failure or delay shall constitute a default hereunder Default under this Agreement (hereinafter referred to as the “Default”) and that in such event, any Party of the nonother Non-defaulting Party Parties (hereinafter referred to as the “Non-defaulting Parties”) shall have the right be entitled to demand require the Defaulting Party to cure such Default or take remedial measures remedies within a reasonable time limitperiod. If the Defaulting Party fails to cure such Default or take remedial measures remedies within such reasonable time limit or within ten (10) fifteen days after the nonNon-defaulting Party notifies Parties notify the Defaulting Party in writing and requests require it to cure such Default, the nonrelevant Non-defaulting Parties are entitled to at their absolute discretion (1) terminate this Agreement and require Defaulting Party shall have to indemnify it for all the right to do damages; or (2) require the following: (i) if Party A is specific performance of the Defaulting Party’s obligations under this Agreement and require the Defaulting Party to indemnify it for all the damages. For the avoidance of doubt, Party B shall have the right to elect Shareholders or the Company will be entitled to terminate this Agreement pursuant to this section merely in the event of the Default of the WFOE. *** Indicates where text has been omitted pursuant to a request for confidential treatment under Rule 406 of the Securities Act of 1933, as amended. The omitted materials have been filed separately with the Securities and demand Party A to indemnify for damages, or demand enforced performance by Party A of its obligations hereunder; (ii) if Party B is the Defaulting Party, Party A shall have the right to demand Party B to indemnify for damages, provided that, unless otherwise stipulated under the Laws, in no event may Party A terminate or rescind this AgreementExchange Commission.