Default Responsibility Clause Samples

Default Responsibility. 11.1 The Parties agree and confirm that if any Party (hereinafter referred to as the “Defaulting Party”) materially violates any article under this Agreement, or materially fails to perform any of its obligations under this Agreement, the party shall be deemed to have constituted a breach of contract under this Agreement (hereinafter referred to as “Default”). In this case, the observant Party shall have the right to request the Defaulting Party to make corrections or take remedial measures within a reasonable time limit. If the Defaulting Party fails to make corrections or take remedial measures within a reasonable time limit or within 15 days after the observant Party has notified the Defaulting Party in writing and requested corrections, the observant Party would have the right to require the Defaulting Party to perform its obligations under this Agreement and request the Defaulting Party to pay all damages. 11.2 All Parties agree and confirm that without the written consent of the Parties, under no circumstances shall each Party request the termination of this Agreement for any reason. 11.3 Despite the other provisions of this Agreement, the validity of this Article shall not be affected by the suspension or termination of this Agreement.

Default Responsibility. 5.1 各方均应诚实、全面、适当履行本协议。 The parties should honestly, comprehensively, properly execute this agreement. 5.2 任何一方不履行或不完全履行本协议，给守约方造成损失的，应当赔偿守约方的全部损失。 Each party shall indemnify the observant part against any loss which such party shall incur as a consequence of fail to perform or incompletely perform this agreement.

Default Responsibility. Where Party A decides not to sell the land in the middle or fails to deliver the land after days, it shall be deemed as Party A’s failure to perform the contract and this contract will be canceled. Party A shall, on day from not performing the contract, refund to Party B double of the advance payment and land procurement payment, and shall compensate Party B the penalty of ( currency) Both Parties agree that:

Default Responsibility. 20.1 In case Party A or Party B violates the obligation agreed in the Contract, the party concerned should bear the corresponding default responsibility. 20.2 In case Party A or Party B fails to truthfully make the statement or guarantee under the Contract or abide by the statement or guarantee, such behavior should be deemed as contract violation and the party concerned should bear the corresponding default responsibility. 20.3 In case the default penalty agreed in the Contract is not enough to compensate for the actual loss caused by the defaulting party to the other party, the defaulting party should compensate the other party for all losses caused by the default behavior thereof and for the profits able to be obtained after contract performance, but such profits should not be more than the losses which are caused by contract violation and can or should be predicted at contract conclusion. 20.4 In case Party B fails to repay the loan as scheduled, Party A has the right to collect the interests according to the overdue default interest rate agreed in Article 5.3 of the Contract, and perform other rights agreed in the Contract. 20.5 In case Party B fails to utilize the loan as agreed in the Contract, Party A has the right to collect the interest according to the embezzlement default interest rate agreed in Article 4.4 of the Contract, and perform other rights agreed in the Contract. 20.6 In case of having any one of the following behaviors, Party B should be deemed to violate the Contract, and Party A has the right to directly stop loan issuance and unilaterally terminate the Contract as well as announce the accelerated expiry of the loan, and Party B should not have any objection thereupon. (1) Party B loses the contractual capacity, including but not limited to unscheduled insufficient loan principal or interest repayment to other financial institutions; (2) Party B fails to pay the loan principal and interest or other expenses at a full amount as scheduled; (3) Party B fails to utilize the loan as agreed in the Contract; (4) The funds are not collected as agreed; (5) Party B externally has important investment, etc., thus significantly influencing or threatening the realization of the creditor’s rights of Party A; (6) Party B involves in major economic dispute or suffers from financial situation deterioration, etc., thus significantly influencing or threatening the realization of the creditor’s rights of Party A; (7) Party B fails to perform any one of...

Default Responsibility. In case of default, the breaching party shall pay the other party 5% of the contractual amount as liquidated damages.

Default Responsibility. (I) If the materials provided by Party A to Party B are untrue, incomplete or invalid and cause damage to Party B, Party A shall be liable for the compensation therefor. (II) Where Party B fails to advance and pay the financing amount promptly as agreed in this Agreement, Party B shall assume the corresponding default responsibility, unless otherwise prescribed herein.

Default Responsibility. 7.1 Each party shall be deemed as default if any of the following events occurs: 1) Violation of the provisions in this Agreement by any party; 2) Statement, guarantee, commitment deemed as untrue, incorrect and misleading or violating this Agreement offered by any party. 7.2 The other two parties have the right to terminate this Agreement or require compensation for the resultant losses caused by any party of the three.

Default Responsibility. If any of the two parties breaches the Agreement, the defaulting party shall compensate the observant party for all the losses incurred by the default.

Default Responsibility. The defaulting party should be liable for breach of contract according to the Contract Law.