Common use of Default Liabilities Clause in Contracts

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. 11.1 8.1 The parties agree and confirm that if any party (hereinafter referred to as the “defaulting party”) materially substantially breaches any of the agreements made hereunder, provision hereunder or substantially fails to perform fulfil any of the obligations obligation hereunder, it shall constitute thus constituting a default under this Agreement hereunder (hereinafter referred to as “default”), and any other non-defaulting party (hereinafter referred to as the “observant party party”) whose interests are damaged shall have the right to request require the defaulting party to make corrections or take remedial actions measures within a reasonable period. If the defaulting party fails to make corrections or take remedial actions measures within the a reasonable period or within ten (10) days after the relevant observant party notifies the defaulting party in writing and requests makes a request for correction, the relevant observant party shall have the right to decide at its own discretion to: (1) to terminate this Agreement Agreement, and request require the defaulting party to give full compensation for damages; or or (2) to require the defaulting party to perform fulfil its obligations under this Agreement hereunder in a compulsory manner and give full compensation for damages;. 11.2 8.2 The parties agree and confirm that, except as otherwise required by law, Existing Shareholders and that under no circumstances shall the existing shareholders or the Company shall not request the premature termination of this Agreement under for any circumstancesreason unless otherwise provided by laws or this Agreement. 11.3 8.3 Notwithstanding the other provisions of this Agreement, the validity of this article shall not be affected by the suspension or termination of this Agreement.

Default Liabilities. 11.1 The two parties agree and confirm that if any either party (hereinafter referred to as the “defaulting party”) materially substantially breaches any of the agreements made hereunder, provision hereunder or substantially fails to perform fulfil or delays fulfilling any of the obligations obligation hereunder, it shall constitute thus constituting a default under this Agreement hereunder (hereinafter referred to as “default”), and the observant party shall have the right to request require the defaulting party to make corrections or take remedial actions measures within a reasonable period. If the defaulting party fails to make corrections or take remedial actions measures within the a reasonable period or within ten (10) days after the observant party notifies the defaulting party in writing and requests makes a request for correction, the observant party shall have the right to decide at its own discretion to: (1) to terminate this Agreement Agreement, and request require the defaulting party to give full compensation for damages; or or (2) to require the defaulting party to perform fulfil its obligations under this Agreement hereunder in a compulsory manner and give full compensation for damages;. 11.2 The Notwithstanding Article 11.1 above, the two parties agree and confirm that, except as otherwise required by law, Existing Shareholders and the Company that under no circumstances shall not Party A request the termination of this Agreement under for any circumstancesreason unless otherwise provided by laws or this Agreement. 11.3 Notwithstanding the other provisions of this Agreement, the validity of this article Article 11 shall not be affected by the termination of this Agreement.