Liability of Breach of Contract. 9.1 In the event that Party A assigns the use right of the System provided hereunder to a third party without consent of Party B, Party B is entitled to request Party A to stop infringing acts and indemnify Party B and hold Party B harmless. Party A shall compensate twice of its profit generated from such infringement to Party B. Party B reserves its right to take any legal actions.
Liability of Breach of Contract. 8.1 Unless otherwise agreed in this Agreement or other written consents by Parties, neither party can modify or terminate this Agreement during the term without the written consent from the other party. If any party breaches this Agreement, it shall pay for all the losses suffered by the other party as a result of its breach.
Liability of Breach of Contract. If there is a breach of the terms of the agreement, the Lender has the right, among other actions, to: 1) accelerate the loan (including all fees, costs and interest); 2) unilaterally terminate the agreement; and 3) deduct from the Borrower’s bank accounts opened at the Lender without judicial process, to pay principal, interest and other expenses due pursuant to the agreement.
Liability of Breach of Contract. 7.1 If a Party fails to perform any of its obligations hereunder, such Party (the “Defaulting Party”) shall be deemed as breach of contract. The Defaulting Party shall rectify such breach within ten (10) Business Days upon receipt of notice stating the details on breach of contract from the other Party (the “Non-defaulting Party”) or other longer period of time otherwise agreed by the Non-defaulting Party. If the Defaulting Party fails to rectify such breach with such prescribed period of time, the Defaulting Party shall indemnify the Non-defaulting Party from any actual losses incurred by the Non-defaulting Party, without limiting the Non-defaulting Party’s rights to obtain other remedies hereunder.
Liability of Breach of Contract. 5.1 In the event that the Licensee fails to pay the License Fee on time under this Agreement, the Licensee shall pay 0.05% of the overdue payment amount to the Licensor for each day overdue. In the event that the overdue days exceed 30 days, the Licensor has right to terminate this Agreement. Exhibit 99.5 Related Party Transaction – Form of Trademark License Agreement English Translation for Reference Purpose Only
Liability of Breach of Contract. If Party A fails to repay the loan at the stipulated time, Party B shall charge 0.5% interest based on the remaining balance.
Liability of Breach of Contract. 8.1 Party A and Party B shall fulfill the obligations in this contract after the contract comes into effect. Any Party shall be liable for breach of contract if it fails to fulfill or fully fulfill the obligations in the contract.
Liability of Breach of Contract. (1) Breach by the borrower and its liability of breach: 1. Failing to repay the principal within the specified term (including the extended term); from the date it becomes overdue, additional 50% of penalty interest rate will be charged as agreed in the contract; 2. Failing to repay interest of the loan and compound interest will be charged at the penalty rate; 3. Failing to use the loan for the purposes agreed under the contract; if the loan becomes misappropriated, an additional 100% of penalty rate will be charged for the period the loan is misappropriated; 4. if the borrower intends to pay back the loan early, the lender’s approval is required; the lender has the right on the loan paid back early at the term and interest rate agreed in the contract; however if the lender’s approval has been obtained, the interest may be calculated and charged according to the interest rate and the actual number of days agreed herein.
Liability of Breach of Contract. 1. If Party A cannot provide the property and relevant equipment in agreed time, Party A shall pay 0.5 % of one month rent as penalty for each day overdue. If Party A does not perform the contract over 7 days, Party B shall have the right of terminating the contract.
Liability of Breach of Contract. 11.1 The parties shall exercise their rights properly, fulfill their obligations, and ensure the smooth implementation of the Agreement. If either party fails to fully and timely perform its obligations, or violates the guarantees or commitments under the Agreement, it shall be deemed as a breach.
