Common use of Default Responsibility Clause in Contracts

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. 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 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 Observant Party has notified the Defaulting Party in writing and requested corrections, the observant Observant Party would have has the right to require the Defaulting Party to perform its obligations under this Agreement and request the Defaulting Party to pay all damages. For the avoidance of doubt, each investor shareholder should only be liable for compensation to the extent of the equity of Party C it holds. 11.2 All Parties agree and confirm that without the written consent of the Parties, under no circumstances shall each Party 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.