Common use of Default Liabilities Clause in Contracts

Default Liabilities. 11.1 The Parties agree and acknowledge that if any Party (the “Defaulting Party”) breaches any provision hereunder, or fails to perform or delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party/Parties (the “Non-Defaulting Party”) shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time. If the Defaulting Party fails to cure such Default or take remedial measures with such reasonable time or within ten (10) days of the Non-Defaulting Party notifying the Defaulting Party in writing and requesting it to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is any of the Existing Shareholders or the Company, the WFOE shall have the right to terminate this Agreement and claim the Defaulting Party to indemnify the damages. For the avoidance of doubt, the responsibility of the Existing shareholders or the responsibility between the Existing shareholders and the Company is independent, and the any Existing shareholders do not bear any joint liability for any obligation or responsibility of the other Existing shareholders or Company; 11.1.2 if the Defaulting Party is the WFOE, the Non-defaulting Party has right to claim the Defaulting Party to indemnify the damages, provided that in no event shall the Non-defaulting Party have the right to terminate or rescind this Agreement, except that the contrary is provided by the law. 11.2 Notwithstanding any other provisions herein, the effectiveness of this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. 11.1 The Parties agree and acknowledge that if any Party (the “Defaulting Party”) breaches any provision hereunder, or fails to perform or delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party/Parties (the “Non-Defaulting Party”) shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time. If the Defaulting Party fails to cure such Default or take remedial measures with such reasonable time or within ten (10) days of the Non-Defaulting Party notifying the Defaulting Party in writing and requesting it to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is any of the Existing Shareholders or the Company, the WFOE shall have the right to terminate this Agreement and claim the Defaulting Party to indemnify the damages. For the avoidance of doubt, the responsibility of the Existing shareholders Shareholders or the responsibility between the Existing shareholders Shareholders and the Company is independent, and the any Existing shareholders do Shareholder does not bear any joint liability for any obligation or responsibility of the other Existing shareholders Shareholders or Company; 11.1.2 if the Defaulting Party is the WFOE, the Non-defaulting Party has right to claim the Defaulting Party to indemnify the damages, provided that in no event shall the Non-defaulting Party have the right to terminate or rescind this Agreement, except that the contrary is provided by the law. 11.2 Notwithstanding any other provisions herein, the effectiveness of this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. 11.1 The Parties agree and acknowledge that if any Party (the “Defaulting Party”) breaches any provision hereunder, or fails to perform or delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party/Parties (the “Non-Defaulting Party”) shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time. If the Defaulting Party fails to cure such Default or take remedial measures with such reasonable time or within ten (10) days of the Nonnon-Defaulting Party defaulting party notifying the Defaulting Party in writing and requesting it to cure such Default, the Nonnon-Defaulting Party defaulting party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is any of the Existing Shareholders or the Company, the WFOE shall have the right to terminate this Agreement and claim the Defaulting Party to indemnify the damages. For the avoidance of doubt, the responsibility of the Existing shareholders Shareholders or the responsibility between the Existing shareholders Shareholders and the Company is independent, and the any Existing shareholders do Shareholder does not bear any joint liability for any obligation or responsibility of the other Existing shareholders Shareholders or Company; 11.1.2 if the Defaulting Party is the WFOE, the Nonnon-defaulting Party has right to claim the Defaulting Party to indemnify the damages, provided that in no event shall the Nonnon-defaulting Party have the right to terminate or rescind this Agreement, except that the contrary is provided by the law. 11.2 Notwithstanding any other provisions herein, the effectiveness of this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. 11.1 1. The Parties agree and acknowledge that confirm that, if any Party B (the “Defaulting Party”) breaches is in material breach of any provision hereunder, provisions herein or fails to perform or delays in performing any obligations hereunderhereunder in any material respect, such breach, breach or failure or delay shall constitute a default hereunder under this Agreement (the “Default”) and that in such event), the non-defaulting Party/Parties (the “Non-Defaulting Party”) which shall have the right entitle Party A to demand the request Defaulting Party to cure rectify or remedy such Default or take remedial measures within with a reasonable period of time. If the Defaulting Party fails to cure rectify or remedy such Default or take remedial measures with such within the reasonable period of time or within ten (10) days of the Non-Defaulting Party notifying the Defaulting A’s written notice requesting for such rectification or remedy, Party in writing and requesting it A shall be entitled to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is elect any one or more of the Existing Shareholders or the Company, the WFOE shall have the right following remedial actions: (a) to terminate this Agreement and claim request the Defaulting Party to indemnify fully compensate its losses and damages; (b) to request the damages. For the avoidance of doubt, the responsibility of the Existing shareholders or the responsibility between the Existing shareholders and the Company is independent, and the any Existing shareholders do not bear any joint liability for any obligation or responsibility of the other Existing shareholders or Company; 11.1.2 if specific performance by the Defaulting Party is the WFOE, the Non-defaulting Party has right to claim of its obligations hereunder and request the Defaulting Party to indemnify fully compensate non-defaulting Party’s losses and damages; or (c) to enforce the damagespledge under the Equity Pledge Agreement by selling, provided auctioning or exchanging the pledged equity thereunder and receive payment in priority from the proceeds derived therefrom, and in the meantime, request the Defaulting Party to fully compensate non-defaulting Party for any losses as a result thereof. 2. The Parties agree and confirm that in no event shall the Non-defaulting Party have the right B require to terminate or rescind this Agreement for any reason. 3. The rights and remedies provided in this Agreement shall be cumulative and shall not affect any other rights and remedies stipulated at law. 4. Notwithstanding otherwise provided under this Agreement, except that the contrary is provided by the law. 11.2 Notwithstanding any other provisions herein, the effectiveness validity of this Article shall survive not be affect by the suspension or termination of this Agreement.

Default Liabilities. 11.1 The Parties agree 13.1 Each of Party A and acknowledge that if any Party (the “Defaulting Party”) B shall strictly perform its respective obligations hereunder. Where either party hereto breaches any provision hereunder, or fails to perform or delays in performing any of its obligations hereunder, it shall take effective remedial measures in accordance with relevant provisions hereunder. Where such breach, failure or delay shall constitute a default hereunder (remedial measures fail to compensate for the “Default”) and that in such event, direct economic losses suffered by the non-defaulting Party/Parties (breaching party, the “Nonbreaching party shall compensate the non-Defaulting Party”) breaching party for any difference therebetween. 13.2 The breaching party shall have indemnify the right non-breaching party against any direct economic losses suffered by the non-breaching party arising from the breach, including without limitation, litigation costs and other direct economic losses. 13.3 Any liquidated damages and indemnities payable by the breaching party to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time. If the Defaulting Party fails to cure such Default or take remedial measures with such reasonable time or non-breaching party hereunder shall within ten (10) days as from the date on which the default liabilities are determined, be paid up by the breaching party or directly deducted by the non-breaching party from any relevant amounts hereunder. Any liquidated damages or indemnities fail to be so paid up or directly deducted shall be treated as overdue payment. 13.4 In case this contract is rendered unable to be performed or the performance of this contract is delayed as a result of the Non-Defaulting Party notifying the Defaulting Party in writing and requesting it to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is occurrence of any of the Existing Shareholders following events (each a “Force Majeure Event”), neither party hereto shall be liable for any loss so caused: (A) any governmental action or change to any law or regulation; (B) a war, civil riot, flood, fire, typhoon or earthquake or any other act of God or similar event; or (C) any other event that is beyond the control of either party hereto. provided, however that, the party affected by the Force Majeure Event shall take all actions possible to mitigate any losses caused by the failure to perform or the Companydelay in the performance of this contract, notify the other party in a timely manner, and provide the other party with evidence of the occurrence of the Force Majeure Event issued by relevant governmental authorities. In the case of a Force Majeure Event, the WFOE parties hereto shall have consult with each other to determine whether to continue with the right to performance of this contract or terminate this Agreement and claim the Defaulting Party to indemnify the damages. For the avoidance of doubt, the responsibility of the Existing shareholders or the responsibility between the Existing shareholders and the Company is independent, and the any Existing shareholders do not bear any joint liability for any obligation or responsibility of the other Existing shareholders or Company; 11.1.2 if the Defaulting Party is the WFOE, the Non-defaulting Party has right to claim the Defaulting Party to indemnify the damages, provided that in no event shall the Non-defaulting Party have the right to terminate or rescind this Agreement, except that the contrary is provided by the lawcontract. 11.2 Notwithstanding any other provisions herein, the effectiveness of this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. 11.1 10.1 The Parties agree and acknowledge that, in the event that if any a Party (the “Defaulting Party”) breaches substantially violates any provision hereunder, of the agreements hereunder or fails to perform or delays in performing any of its obligations hereunderhereunder substantially, such breach, failure or delay it shall constitute a default hereunder under this Agreement (the “Default”) and that in such event, the ). The non-defaulting Party/Parties party (the “Non-Defaulting defaulting Party”) shall have the right be entitled to demand request the Defaulting Party to cure such rectify the Default or take remedial measures within a reasonable timeperiod. If In the event that the Defaulting Party fails to cure such rectify the Default or take remedial measures with such within a reasonable time period or within ten (10) days of after a written notice sent by the Non-Defaulting defaulting Party notifying to the Defaulting Party in writing requesting for the rectification, and requesting it to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is any of the Existing Shareholders Shareholder or the Domestic Company, the WFOE Non-defaulting Party shall have the right be entitled to determine, at its sole discretion, to: (1) terminate this Agreement and claim request the Defaulting Party to indemnify all losses incurred by the damages. For Non-defaulting Party, or (2) request the avoidance of doubt, Defaulting Party to continue to perform its obligations hereunder and indemnify all losses incurred by the responsibility of the Existing shareholders or the responsibility between the Existing shareholders and the Company is independent, and the any Existing shareholders do not bear any joint liability for any obligation or responsibility of the other Existing shareholders or Company; 11.1.2 Non-defaulting Party; if the Defaulting Party is the WFOE, the Non-defaulting Party has right shall be entitled to claim request the Defaulting Party to continue to perform its obligations hereunder and to indemnify the damages, provided that in no event shall all losses incurred by the Non-defaulting Party have Party. 10.2 The Parties agree and acknowledge that the right Existing Shareholders and the Domestic Company shall not request to terminate or rescind this Agreement, except that the contrary is provided by the lawAgreement for any reason under any circumstances. 11.2 10.3 The rights and remedies hereunder shall be accumulative and shall not preclude any other statutory rights or remedies. 10.4 Notwithstanding any other provisions hereinhereunder, the effectiveness of this Article shall survive the suspension or termination of this Agreement.

Default Liabilities. 11.1 The Parties agree and acknowledge that if any Party (the “Defaulting Party”) breaches any provision hereunder, or fails to perform or delays in performing any obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”) and that in such event, the non-defaulting Party/Parties (the “Non-Non- Defaulting Party”) shall have the right to demand the Defaulting Party to cure such Default or take remedial measures within a reasonable time. If the Defaulting Party fails to cure such Default or take remedial measures with such reasonable time or within ten (10) days of the Non-Defaulting Party notifying the Defaulting Party in writing and requesting it to cure such Default, the Non-Defaulting Party may elect, in its (their) discretion, to do the following: 11.1.1 if the Defaulting Party is any of Each of the Existing Shareholders or the Company, the WFOE shall have the right to terminate this Agreement and claim the Defaulting Party to indemnify the damages. For the avoidance of doubt, the responsibility of the Existing shareholders Shareholders or the responsibility between among the Existing shareholders Shareholders and the Company is independent, and the any Existing shareholders do not bear any joint liability for any obligation or responsibility of the other Existing shareholders Shareholders or the Company; 11.1.2 if the Defaulting Party is the WFOE, the Non-defaulting Party has right to claim the Defaulting Party to indemnify the damages, provided that in no event shall the Non-defaulting Party have the right to terminate or rescind this Agreement, except that the contrary is provided by the law. 11.2 Notwithstanding any other provisions herein, the effectiveness of this Article Clause shall survive the suspension or termination of this Agreement.