Specific Clause Clause Samples
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Specific Clause. Both parties confirm that Party A plans to file an application for completing the procedures to extend the term of use of this property tentatively in October 2017 and comply with the government requirements, including site inspection, plotting, or partial site rectification and suspension. Party B undertakes that Party B will unconditionally suspend the operation of business and move all items out from the Leased Property within 60 days from the date on which Party A issue a written notice in the event that the application filed by Party A is not approved by the government within 60 days from the date on which Party A files the application documents. Party B shall pay liquidated damages of RMB50,000 per day for overdue period if Party B fails to not move out as scheduled. If Party B’s failure to move out result in Party A’s failure to extend the term of use of the property, Party B shall compensate all loss to Party A at twice of the then current transaction price of the property which is not less than RMB500 million.
Specific Clause. This Mortgage does not cover real property principally improved or to be improved by one or more structures containing in the aggregate not more than six (6) residential dwelling units, each having their own separate cooking facilities.
Specific Clause. 1. During the lease term, if the Leased Property is relocated, Party A shall have the right to the compensation for relocation of the Leased Property while Party B shall have the right to compensation for operating loss.
2. The contents of this agreement shall prevail over the documents signed by both parties for completing the filing procedures of lease of real estate.
3. During the lease term, Party B undertakes and warrants that Party B will unconditionally comply with the requirements of the relevant government department, including site inspection, plotting, or partial site rectification and suspension, in connection with completing the procedures for extension of the term of use of the Leased Property by Party A.