Common use of Social Responsibility Clause in Contracts

Social Responsibility. Party A’s social responsibility for supplying coal and power and bearing the public welfare expenses for the village (town) or the country, to the extent that is recognized by Party B, shall be succeeded by the new company established by Party B in the consolidation. As for the responsibilities that are not recognized by Party B, Party B or the newly-established company shall enter into a new agreement with related third party. Party A shall be responsible for any house collapse, ground fracturing, unsolved dispute with villagers, and the unsettled and unfulfilled agreement with Party A that occurs prior to Party B’s take-over. Party A shall be responsible for canceling the contracts the performance of which is not complete before signing this agreement, and for property handling the follow-up work. The expense paid to the other party for cancellation of the contract shall be borne by Party A.