Rights and Obligations of Both Parties Sample Clauses
The 'Rights and Obligations of Both Parties' clause defines the specific duties, responsibilities, and entitlements that each party has under the agreement. It typically outlines what each party is required to do, such as delivering goods, making payments, or providing services, as well as what each party is entitled to receive or expect from the other. By clearly delineating these mutual expectations, the clause helps prevent misunderstandings and disputes, ensuring that both parties are aware of and can enforce their respective rights and obligations throughout the contract.
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Rights and Obligations of Both Parties. 7.1 Party A shall have the following rights and obligations: § to draw down and use the Loan according to this Contract; § if Party A repays the Loan before maturity date, it shall obtain prior written consent from Party B and shall compensate Party B against the losses for expected income and relevant expenses; § to bear all expenses incurred under this Contract; § it shall notify Party B at least 30 days in advance of any activities that would have a negative impact upon Party B’s ability to realize its rights such as joint operation, merger, restructuring, sale of material asset, etc. and obtain Party B’s written consent, otherwise, Party A is not allowed to carry out the afore mentioned activity before repayment of the Loan; § to notify Party B of any changes like location, contact address, business scope, legal representative and other commercial register items within 7 days after these changes; § it shall notify Party B immediately the occurrence of any event that will affect its normal operation or solvency under this contract, such as (but not restrain to) severe economic dispute, bankruptcy, financial deterioration etc; § In case of it winding up, dissolution, suspension of operation, revoke of business license, Party A should notify Party B of such events within 5 days after their occurrence and undertake to repay the principal and interest immediately. § Others as agreed.
7.2 Party B shall have the following rights and obligations: § to require Party A to provide all materials related to the Loan; § to deduct the principal, interest, compound interest, penalty interest and other due expenses relating to the Loan under this Contract directly from Party B’s account in accordance with the provisions of this Contract or relevant law; § in case of Party A’s evasion of Party B’s monitoring, default in payment for due principal or interest and other severe breach of the Contract, Party B is entitled to impose credit penalty against Party A, notify relevant departments or entities of such breach and put up payment demand notice on public media; § to provide loan to Party A in time according to the provisions of the Contract (except for the delays due to Party A’s reason); § to keep confidential of the information and materials provided by Party A..
Rights and Obligations of Both Parties. 1. The First Party is obligated to open a current account for the Second Party and shall implement his/her instructions on the account with due diligence within the framework of banking practices, rules, and regulations. However, the First Party shall not be held accountable for any damage arising from the implementation of these instructions unless this damage is a result of his/her gross negligence or his/her willful commitment of misconduct or failure to act with due diligence for purposes of implementing this Agreement with due care, skill, prudence and diligence and under the circumstances that are expected to be performed reasonably by a similar enterprise
2. The First Party shall be entitled to utilize the funds deposited in the current account for its own benefit, subject to its full commitment to enable the Second Party have access to these funds immediately upon his/her request. The Second Party shall not be entitled to claim any profits therefrom. However, the two parties may have an independent agreement to arrange their relationship whereby the Second Party can obtain profits from those funds.
3. The Second Party shall be prohibited from utilizing the account for any unlawful purpose or activity, and he/she should inform the First Party in the event of any objection or suspicion of operations taking place on his/her account. The lapse of thirty days from the date of carrying out any transaction without the Second Party’s objection shall be deemed to constitute an approval and confirmation by the Second Party of the validity of such transaction.
4. The First Party may collect a specific fee from the Second Party in exchange for the services it provides to him/her, and it may collect such fee directly without referring to the Second Party provided, however, that such fees are not inconsistent with the guidelines duly issued by the Central Bank of Saudi Arabia, and that they are published by the branches of the First Party and its website within a deadline of thirty (30) days prior to the application of such fees.
5. The Second Party shall bear any current and future expenses or taxes which may be imposed by the government regarding any products and services provided by the First Party to the Second Party.
6. The First Party shall advise the Second Party via text messages on the mobile phone number stated in this Agreement - or any other means that may be mutually agreed - of the following:
A. All transactions executed on the current account as s...
Rights and Obligations of Both Parties. 2.1 In order to ensure that Party B can effectively carry out its work, Party A shall provide Party B with the following working conditions and cooperate in completing the following matters:
2.1.1 Party A shall provide Party B with a list of OEM notification requirements;
2.1.2 Party A shall provide Party B with basic guidance and other work;
2.2 Party A shall submit vehicle announcements to the Ministry of Industry and Information Technology of the People’s Republic of China through Party B. The specific public announcement model, parameters and other relevant data shall be provided by Party A. Party B, as the OEM, shall be responsible for assisting Party A in submitting the relevant data, only providing basic assistance such as facilitating the submission, and shall not be responsible for product technical parameters.
2.3 The announcements submitted by Party A shall be limited to Party A and its affiliates. Without the authorization of Party A, Party B shall not use the announcements submitted by Party A without authorization.
Rights and Obligations of Both Parties. 4.1 Party A shall have the materials, materials and materials provided to Party B owned by the copyright owner. Party B shall keep the materials, Party A shall deliver the hard disk and array of the tools bearing the materials to Party B. Party B shall return the corresponding equipment to Party A as required by Party A.
4.2 Party B shall prepare all equipment required for the special production and technical indicators to meet the industrial or national standards, It shall complete the service and production and modification under this Contract on time and upon other requirements, Copy the final finished version of the play and the relevant data documents to Party A; If due to Party A (such as the materials needed by Party B, Party A fails to deliver to Party B on time) If Party B fails to deliver the work results according to the final schedule approved by Party A, The extension of the delivery time shall be negotiated by both parties, At the same time, Party B shall not bear the corresponding liability for breach of contract. Party A shall have the right to understand the production progress of the virtual lens at any time.
4.3 Party B shall not return or deliver any materials, materials, materials provided by Party A and the virtual content produced by Party B to the personnel not designated by Party A.
4.4 If Party B fails to implement the production plan confirmed by both parties and causes the work results to fail to pass the acceptance by Party A, Party B shall rework it until approved by Party A. In case of any conflict of opinions, both parties shall carefully study and negotiate. If it cannot be resolved, Party A’s opinions shall be taken as the final solution, and Party B shall not terminate the work or neglect in any way. If Party A puts forward additional ideas or requirements after both parties determine the production plan and Party B has completed the production, the production cycle of the new production content shall be determined by both parties through separate negotiation.
4.5 Party B shall confidential to Party B the materials (including shooting materials, creator information, modeling, costumes, plots, audio, etc.), and all information, pictures, actors’ remarks and behaviors at the shooting scene of the drama, and shall not provide them to any anyone other than the staff designated by Party A. Party B shall properly manage the relevant staff of Party B involved in the work under this contract, and shall sign a confidentiality agre...
Rights and Obligations of Both Parties. 7.1 Borrower shall not use the proceeds of the Loan for any usage not stipulated in this Contract.
7.2 Borrower shall repay the Loan under this Contract and pay the interest hereunder in accordance with the date, amount, currency set forth in this Contract.
7.3 Lender has the right to retrieve the principal, receive interest (including compound, overdue and appropriated penalty interest) and the necessary expenses from the Borrower in accordance with this Contract. Lender has the right to exercise any other rights under the relevant laws and regulations or stipulated in this Contract.
Rights and Obligations of Both Parties. 1. Party A has the right to withdraw and use the loan according to the term and purpose agreed in this contract.
2. Party A shall repay the principal, interest and fees of the loan in accordance with the provisions of this contract.
3. Party A agrees that Party B shall provide its credit information to the Financial Credit Information Basic Database and/or the credit reporting agency approved by the People’s Bank of China or the purposes permitted by this contract, and authorizes and agrees that Party B shall query, download, copy, print and use its credit information from the Financial Credit Information Basic Database and/or the credit reporting agency approved by the People’s Bank of China or the website of the relevant unit or department for the purpose of this contract, and use it for legal and compliant purposes related to this contract; if Party A fails to repay the principal and interest of the loan in accordance with the contract, the resulting negative credit consequences shall be borne by Party A.
4. Party A authorizes Party B to query, download, copy, print and use Party A’s account transaction information, including but not limited to transaction flow and statement, for Party B’s review and approval, post-loan management or necessary notarization procedures, and submit it as information/evidence to judicial organs, arbitration institutions, regulatory authorities, or for purposes permitted by this contract.
5. Party A is aware of and agrees that during the loan period, Party B has the right to transfer the creditor’s rights and corresponding security rights to a third party, and provide this loan contract and loan-related information to the potential transferee financial institution within the necessary scope in accordance with the law without the need to obtain Party A’s consent. When Party A provides its own guarantee, Party A agrees to continue to bear the relevant guarantee liability to the creditor transferee after the creditor’s rights are transferred.
6. Party A agrees that during the loan period, Party B has the right to act as a credit asset securitization initiator, entrust the creditor’s rights and corresponding security rights under this contract to the trustee institution to establish a special purpose trust, and provide this loan contract and loan-related information, and the trustee institution will issue asset-backed securities. When Party A provides its own guarantee, Party A agrees to continue to bear the relevant guarantee l...
Rights and Obligations of Both Parties. 1. The total electricity consumption of the transformer in this office building is 100 kVA. The total electricity consumption in this contract is (/) KVA, and the basic electricity charge is 1 whole (¥/) per month, which shall be paid to the account designated by Party A excluding tax together with the monthly rent. Party A shall charge Party B the electricity deposit of RMB ∠ yuan (¥/). In case of increased electricity consumption in the later period, Party A shall sign an electricity supplementary agreement with Party A and pay an electricity deposit. Upon expiration of the contract and Party B's full payment of water and electricity, Party A shall return the electricity deposit to Party B without interest. If Party B violates this Contract and causes damage to the power supply equipment due to over-approved electricity consumption, Party B shall bear all responsibilities, and Party A shall charge Party B additional fee for excess electricity consumption in accordance with national regulations. Party A shall have the right to directly deduct Party B's liability from the electricity deposit. If the electricity deposit is insufficient to make up for Party B's losses, Party A shall have the right to recover from Party B after deducting all the electricity deposit.
2. Party A shall provide two elevators of the plant and Party B shall use them normally and reasonably. If the elevators are damaged due to Party B's reasons, Party B shall bear the maintenance expenses of the elevators.
3. During the lease term, Party A shall pay the property tax and land use fee for the leased premises, and Party B shall pay the lease tax. Party B shall be responsible for paying rent, water and electricity charges, etc., water and electricity charges for public areas, and disposing of industrial kitchen waste by itself.
4. Rental property (workshop, dormitory), municipal plumbing and drainage system (including drainage and sewage management), public water, power supply system, electricity costs, as well as the annual inspection fees of leased property and public supporting facilities or electrical circuit testing fees, shall be shared by each benefiting unit in the same workshop according to the proportion of the leased area.
5. During the lease term, if Party B wants to decorate the workshop or dormitory, Party A shall agree to the decoration in principle on the condition that the decoration does not affect the main frame structure of the building and meets the fire safety requ...
Rights and Obligations of Both Parties. 3.1 Party A’s rights and obligations
3.1.1 If the hash computing services provided by Party B does not meet Party A’s standards or requirements, Party A has the right to require Party B to make rectifications within 48 hours before causing any loss. Otherwise, Party A has the right to unilaterally terminate this contract, and Party B shall compensate Party A for all direct losses arising therefrom.
3.1.2 Since Party B is the owner of the server that provides the hash computing service, Party B should bear the risk of damage to the server by no fault of Party A. Party B shall purchase insurance for the hash computer server to reduce the risk of damage or loss that may occur.
3.1.3 Party A guarantees that the settlement will be made to Party B as agreed. If Party A fails to settle to Party B before agreed timeline, Party B can notify Party A in writing to remind Party A to pay on time. If Party A fails to pay within 7 days after receiving Party B’s notification, Party A shall pay a daily penalty of 0.3‰ on the payable amount to Party B, and Party B shall have the right to terminate this contract if it still has not got the payment more than 15 days after the due date and require Party A to bear Party B’s losses.
3.1.4 Party A guarantees that it will not use Party B’s server to damage or attempt to disrupt network security (including but not limited to phishing, hacking, network fraud, website or space containing or suspected of spreading: viruses, Trojan horses, malicious code, and through virtual servers Suspected attacks on other websites and servers (such as scanning, sniffing, ARP spoofing, DDoS, etc.) will not engage in acts prohibited by the local law, otherwise if Party B suffers losses, Party A shall compensate.
3.1.5 During the period of contract terms, any use of Party B’s name for external publicity should be approved by Party B in advance in writing.
3.2 Party B’s rights and obligations
3.2.1 Party B shall appoint a special person to cooperate with Party A to carry out debugging work such as the interface of the relevant server according to the requirements of Party A.
3.2.2 Party B guarantees that the hash computer servers to be rented out are with legal rights and interests, and that Party B has complete and legal rights to use it.
3.2.3 In order to ensure the use of servers, Party B shall provide at least additional backup servers which amounts to 20% of the number of demanded servers. Both of the list of servers to be rented and a list of bac...
Rights and Obligations of Both Parties. Party A’s rights and obligations
Rights and Obligations of Both Parties. 5.1 Party A, as the lessor of the Properties, shall be entitled to:
1) receive rent according to this Agreement;
2) other rights regulated in this Agreement.
5.2 Party A, as the lessor of the Properties, shall assume the following obligations:
1) Unless otherwise stipulated in this Agreement, Party A guarantees that it has the power to rent out the Properties according to this Agreement.
2) Party A undertakes to take all necessary actions to ensure the compliance of the Properties and the lease of the Properties with related regulations. Party A guarantees and undertakes to pay compensation in full amount within 30 days after receiving Party B’s written request for compensations for any losses caused by Party A’s failure to fulfill the above undertakings.
3) Party A shall bear all the property tax, VAT and surcharges, stamp tax, land-using tax and all the other taxes payable according to laws arising from leasing property to Party B.
4) During the term of this Agreement, in the event that Party A intends to transfer its ownership of the Properties to a third party, it shall notify Party B of such intention in writing. Party B has the preemptive right to purchase the Properties under the same conditions. Party B’s failure to confirm in writing within 30 days upon receipt of Party A’s notification to exercise the preemptive right shall be deemed a waiver of such right. In the event that Party B waives such preemptive right, Party A may transfer ownership of the Properties to a third party under the same conditions. However, the transfer shall take effect provided that the third party, as lessor of the Properties, shall be bound by this Agreement.