Rights and Obligation of Both Parties Sample Clauses

The 'Rights and Obligation of Both Parties' clause defines the specific duties, responsibilities, and entitlements of each party involved in the agreement. It typically outlines what each party is required to do, such as delivering goods, making payments, or providing services, as well as what each party is entitled to receive or expect from the other. By clearly delineating these roles and expectations, this clause helps prevent misunderstandings and disputes, ensuring that both parties are aware of and can enforce their respective rights and obligations under the contract.
Rights and Obligation of Both Parties. 4.1. Each Party shall carefully and responsibly designate a financial principal respectively, to go through the relevant procedures promptly, to ensure that the Parties can smoothly conduct financing activities. 4.2. The Loan Contract, Guarantee Contract and other relevant legal documents about each specific loan should be fully completed and provided by one Party when it is required by the other Party. 4.3. In the event that one Party does not complete the Loan Contract, Guarantee Contract, or other relevant legal documents according to the provisions under Section 4.2, or there are certain blanks in those legal documents, the other Party may refuse to deal with the relevant mutual guarantee issue. 4.4. Both Parties promise, during the period that one or both Parties is charged with liability to guarantee, to exchange financial information within 10 working days after the end of each month. Such financial information includes but is not limited to the balance sheet, income statement, cash flow statement, and tax return information. Both Parties shall bear a strict duty of confidentiality regarding such financial information. The Parties pledge that the information provided by each shall be true, accurate and complete, with no falsity, omission or misleading representation.
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Rights and Obligation of Both Parties. Party A: 1. the Area and Place of Shareholding Forestation Party A 1,000,000 Mu forest land access, which locates in Wuchang City Forestry Bureau, as share for investment. (We make sure it according to forest business plan). 2. Party B’s business activities are subject to the supervision and administration of Party A. 3. In order to guarantee the amount of nursery stock, Party A provides 1400mu nursery garden as land for breeding of seedlings for Party B without being paid, with Baoshan tree farm 400Mu, Pingfangdian tree farm 1000Mu. 4. Party A is responsible for providing operational guidance and technical service of the forest operation during the process of reforestation. 5. To give full play to the economic value of yew medicinal tree, Party A has agreed Party B to clear up and ▇▇▇▇▇▇ the forest land for better cultivation of the yew forest. 6. Due to the need of cultivating yew, Party B should tending and intermediate cutting the original forest land in accordance with the rules and regulations. In order to protect yew from destroying. Party B is responsible for organizing production and Party A takes possession of the economic benefit. Cost of production is paid by Party A in accordance with rules and regulations. 7. Party A has agreed Party B to develop other types of plant, cultivation and other activities in Joint-stock reproducing area. Both parties carry out three-dimensional development in the form of fruit industry and medicinal materials. Benefit is divided into 2:8 between Party A and Party B, with Party A20% and Party B80%.
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Related to Rights and Obligation of Both Parties

  • Rights and Obligations of Both Parties 7.1 Party A shall have the following rights and obligations: § to draw down and use the Loan according to this Contract; § if Party A repays the Loan before maturity date, it shall obtain prior written consent from Party B and shall compensate Party B against the losses for expected income and relevant expenses; § to bear all expenses incurred under this Contract; § it shall notify Party B at least 30 days in advance of any activities that would have a negative impact upon Party B’s ability to realize its rights such as joint operation, merger, restructuring, sale of material asset, etc. and obtain Party B’s written consent, otherwise, Party A is not allowed to carry out the afore mentioned activity before repayment of the Loan; § to notify Party B of any changes like location, contact address, business scope, legal representative and other commercial register items within 7 days after these changes; § it shall notify Party B immediately the occurrence of any event that will affect its normal operation or solvency under this contract, such as (but not restrain to) severe economic dispute, bankruptcy, financial deterioration etc; § In case of it winding up, dissolution, suspension of operation, revoke of business license, Party A should notify Party B of such events within 5 days after their occurrence and undertake to repay the principal and interest immediately. § Others as agreed. 7.2 Party B shall have the following rights and obligations: § to require Party A to provide all materials related to the Loan; § to deduct the principal, interest, compound interest, penalty interest and other due expenses relating to the Loan under this Contract directly from Party B’s account in accordance with the provisions of this Contract or relevant law; § in case of Party A’s evasion of Party B’s monitoring, default in payment for due principal or interest and other severe breach of the Contract, Party B is entitled to impose credit penalty against Party A, notify relevant departments or entities of such breach and put up payment demand notice on public media; § to provide loan to Party A in time according to the provisions of the Contract (except for the delays due to Party A’s reason); § to keep confidential of the information and materials provided by Party A..

  • Rights and Obligations Except as expressly set forth in this Agreement, no Member, in its capacity as a Member, will have any right, power or authority to transact any business in the name of the Series, participate in the management of the Series or to act for or on behalf of or to bind the Series. A Member will have no rights other than those specifically provided herein or granted by law. Except as required by the Act, no Member, solely by reason of being a member, shall be liable for the debts, liabilities, obligations or expenses of the Series.

  • Independent Nature of Rights and Obligations Nothing contained herein, and no action taken by any party pursuant hereto, shall be deemed to constitute Investor and the Sponsor as, and the Sponsor acknowledges that Investor and the Sponsor do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that Investor and the Sponsor are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any matters, and the Sponsor acknowledges that Investor and the Sponsor are not acting in concert or as a group, and the Sponsor shall not assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement.

  • Rights and Obligations of Parties The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located; [PL 1995, c. 694, Pt. B, §2 (NEW); PL 1995, c. 694, Pt. E, §2 (AFF).]

  • Assignment of Rights and Obligations (a) Without Owners’ prior written consent, Managing Agent shall not sell, transfer, assign or otherwise dispose of or mortgage, hypothecate or otherwise encumber or permit or suffer any encumbrance of all or any part of its rights and obligations hereunder, and any transfer, encumbrance or other disposition of an interest herein made or attempted in violation of this paragraph shall be void and ineffective, and shall not be binding upon Owners. Notwithstanding the foregoing, Managing Agent may assign its rights and delegate its obligations under this Agreement to any subsidiary of Parent so long as such subsidiary is then and remains Controlled by Parent. (b) Owners, without Managing Agent’s consent, may not assign their respective rights or delegate their respective obligations hereunder. (c) Any assignment permitted hereunder shall not release the assignor hereunder.