Common use of Responsibility for Breach Clause in Contracts

Responsibility for Breach. 6.1 Any party who breaches any clause under this Loan Agreement, fails to perform its obligations under this Loan Agreement or makes all or part of the clauses under this Loan Agreement impossible to be executed, shall be responsible for the breach, and shall compensate the loss (including the corresponding fees for litigation and legal counsel) the other party incurred that resulted from such breach; if both parties breach, each party shall bear its responsibilities in according to the actual situation.