Default Liabilities Sample Clauses

Default Liabilities. 9.1 The Borrowers undertake to indemnify the Lender against any actions, charges, claims, costs, damage, demands, expenses, liabilities, losses or procedures suffered or incurred by the Lender due to any breach by the Borrowers of any of their obligations under this Agreement. 9.2 Notwithstanding any other provision of this Agreement, the effect of this Article shall not be affected by the suspension or termination of this Agreement.

Default Liabilities. The Parties agree and confirm that if any Party hereto (“Breaching Party”) materially breaches any provision hereof, or materially fails to perform or delays in perform any obligation hereunder, it shall constitute a default hereunder (“Default”), and any of other non-breaching Parties (“Non-breaching Parties”) may, in addition to other relevant rights available hereunder, request the Breaching Party to make correction or take remedy within a reasonable time limit. Should the Breaching Party still fail to make correction or take remedy within such reasonable time limit or ten (10) days after the other Party notifies the Breaching Party in writing and requests for correction, the Non-breaching Parties may request the Breaching Party to pay liquidated damages.

Default Liabilities. 4.1 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 4.2 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws. 4.3 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount accrued thereupon are fully repaid by the Borrower.

Default Liabilities. 4.1 Any direct or indirect breach by either Party of any provision in this Agreement, or any failure of either Party to assume at all or to assume in time and in full any of its obligations under this Agreement shall constitute a default hereunder. In such case, the non-defaulting Party (the “Non-defaulting Party”) shall notify the defaulting Party (the “Defaulting Party”) in writing to cure its breach and take adequate, effective and timely measures to eliminate the effect of such breach and indemnify the Non-defaulting Party against any and all the losses caused by such breach. 4.2 Upon the occurrence of any breach which in the reasonable and objective judgment of the Non-defaulting Party has rendered it impossible or unfair for the Non-defaulting Party to perform its respective obligations hereunder, the Non-defaulting Party shall have the right to notify the Defaulting Party in writing that the Non-defaulting Party will suspend its performance of its respective obligations hereunder until the Defaulting Party has ceased such breach, taken adequate, effective and timely measures to eliminate the effect of such breach and indemnified the Non-defaulting Party against any and all the losses caused by such breach. 4.3 The losses of the Non-defaulting Party caused by the breach of the Defaulting Party that are indemnifiable by the Defaulting Party shall include the direct economic losses and any and all foreseeable indirect losses and incidental expenses, including without limitation, attorney fees, litigation and arbitration costs, financial expenses and travelling expenses.

Default Liabilities. 9.1. In the event that the Pledgors or Party C materially breach any provision under this Agreement, the Pledgee is entitled to terminate this Agreement and/or claim damages from the Pledgors or Party C; this Section 9 shall not preclude any other rights entitled to the Pledgee as provided under this Agreement. 9.2. The Pledgors or Party C may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

Default Liabilities. 11.1 The parties agree and confirm that if any party (hereinafter referred to as the “defaulting party”) materially breaches any of the agreements made hereunder, or substantially fails to perform any of the obligations hereunder, it shall constitute a default under this Agreement (hereinafter referred to as “default”), and the observant party shall have the right to request the defaulting party to make corrections or take remedial actions within a reasonable period. If the defaulting party fails to make corrections or take remedial actions within the reasonable period or within ten (10) days after the observant party notifies the defaulting party in writing and requests for correction, the observant party shall have the right to decide at its own discretion to: (1) terminate this Agreement and request the defaulting party to give full compensation for damages; or (2) require the defaulting party to perform its obligations under this Agreement in a compulsory manner and give full compensation for damages; 11.2 The parties agree and confirm that, except as otherwise required by law, Existing Shareholders and the Company shall not request the termination of this Agreement under any circumstances. 11.3 Notwithstanding other provisions of this Agreement, the validity of this article shall not be affected by the termination of this Agreement.

Default Liabilities. 8.1 The Parties agree and acknowledge that, in the event that a Party (the “Defaulting Party”) substantially violates any of the agreements hereunder or fails to perform any of its obligations hereunder substantially, it shall constitute a default under this Agreement (the “Default”). Any of the non-defaulting parties (the “Non-defaulting Party”) shall be entitled to request the Defaulting Party to rectify the Default or take remedial measures within a reasonable period. In the event that the Defaulting Party fails to rectify the Default or take remedial measures within a reasonable period or within ten (10) days after a written notice sent by the Non-defaulting Party to the Defaulting Party requesting for the rectification, and if the Defaulting Party is any of the Shareholders or Beijing Huaqianshu, the Non-defaulting Party shall be entitled to determine, at its sole discretion, to: (1) terminate this Agreement and request the Defaulting Party to indemnify all losses incurred by the Non-defaulting Party, or (2) request the Defaulting Party to continue to perform its obligations hereunder and indemnify all losses incurred by the Non-defaulting Party; if the Defaulting Party is Beijing Miyuan, the Non-defaulting Party shall be entitled to request the Defaulting Party to continue to perform its obligations hereunder and to indemnify all losses incurred by the Non-defaulting Party. 8.2 The Parties agree and acknowledge that the Shareholders or Beijing Huaqianshu shall not request to early terminate this Agreement for any reason under any circumstances, except otherwise required under the law or under this Agreement. 8.3 Notwithstanding any other provisions hereunder, this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. (1) If the Entrusted Party violates China’s financial regulations or establishes an unauthorized account, it shall be deemed as a fundamental breach by the Entrusted Party; (2) If the Entrusted Party changes ▇▇▇▇▇’an Hospital’s business scope or treatment or diagnosis programs without ▇▇▇▇▇’an Hospital’s consent, it shall be deemed as a fundamental breach by the Entrusted Party; (3) If the Entrusted Party disposes any asset in ▇▇▇▇▇’an Hospital or purchases or leases any asset in the name of ▇▇▇▇▇’an Hospital without ▇▇▇▇▇’an Hospital’s written consent, it shall be deemed as a fundamental breach by the Entrusted Party; (4) If the Entrusted Party provides any guarantee in the name of ▇▇▇▇▇’an Hospital for the Entrusted Party or any third party without ▇▇▇▇▇’an Hospital’s written consent, it shall be deemed as a fundamental breach by the Entrusted Party; (5) If ▇▇▇▇▇’an Hospital is subject to any penalty by relevant authorities caused by the Entrusted Party’s unlawful act, it shall be deemed as a breach by the Entrusted Party and the Entrusted Party shall assume corresponding legal liabilities and economic losses; (6) If the Entrusted Party fails to comply with this Contract on the performance deposit payment, it shall be deemed as a breach by the Entrusted Party. Any late payment shall be subject to an overdue penalty payable to ▇▇▇▇▇’an Hospital, calculated at a rate of 0.03% of the performance deposit amount for each day of delay; (7) If ▇▇▇▇▇’an Hospital fails to conduct accounting or pay the management fee on a timely basis, it shall be deemed as a breach by ▇▇▇▇▇’an Hospital. Any late payment shall be subject to an overdue penalty payable to the Entrusted Party, calculated at a rate of 0.03% of the management fee amount payable for each day of delay. Any delay of payment by 30 days shall be deemed as a fundamental breach by ▇▇▇▇▇’an Hospital; (8) If ▇▇▇▇▇’an Hospital refuses to conduct accounting or pay the management fee or bonus, it shall be deemed as a fundamental breach by ▇▇▇▇▇’an Hospital; (9) If the Entrusted Party has any disagreement in the accounting completed by ▇▇▇▇▇’an Hospital, and ▇▇▇▇▇’an Hospital fails to coordinate with the Entrusted Party to review the accounting results within the period specified herein, any delay of review shall be subject to an overdue penalty payable to the Entrusted Party, calculated at a rate of 0.03% of the management fee amount payable for each day of delay. Any delay of review by 30 days shall be deemed as ...

Default Liabilities. The parties agree and acknowledge that, if any party (the “Defaulting Party”) breaches substantially any of the provisions herein or fails substantially to perform or fails to perform on time any of the obligations hereunder, such breach or failure shall constitute a default under this Agreement (the “Default”). In such events, apart from enjoying other relevant rights provided by this Agreement, any of the other parties without default (the “Non-defaulting Party”) shall be entitled to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of receiving the written notice of the Non-defaulting Party thereof, then the Non-defaulting Parties have the rights to claim the Defaulting Party to indemnify the damages.