Common use of THE RESPONSIBILITY OF THE PARTIES Clause in Contracts

THE RESPONSIBILITY OF THE PARTIES. 4.1 For default, delayed incomplete fulfillment of the obligations indicated in article 3 of the present agreement, the Renter pays to the Lessor 0,5% of the delayed sum per each day of delay. In case of delay in rent payments over one month, the Lessor has the right to terminate the agreement by written notification of the Renter. On receipt of such notification, the Renter shall release the rented premises in 30 days. 4.2 In case of violation or inadequate fulfillment of his obligations and/or warranties by any Party under the present Agreement, he is obliged to reimburse to the other Party the losses, caused by such violation or inadequate fulfillment. 4.3 The payment of sanctions, fixed hereby, does not release the Parties from execution of their obligations or from elimination of violations. 4.4 The Renter and Lessor shall not bear responsibility for violation or inadequate fulfillment of their duties in case of force major circumstances, as stipulated in items 5.1-5.5 of the present Agreement.

THE RESPONSIBILITY OF THE PARTIES. 4.1 For default, delayed incomplete fulfillment of the obligations indicated in article 3 of the present agreement, the Renter pays to the Lessor the fine at a rate of 0,5% of the delayed sum per each day of delay. In case of delay in rent payments over one month, the Lessor has the right to terminate the agreement by written notification of the Renter. On receipt of such notification, the Renter shall release the rented premises in 30 days. 4.2 In case of violation or inadequate fulfillment of his obligations and/or warranties by any Party under the present Agreement, he is obliged to reimburse to the other Party the losses, caused by such violation or inadequate fulfillment. 4.3 The payment of sanctions, fixed hereby, does not release the Parties from execution of their obligations or from elimination of violations. 4.4 The Renter and Lessor shall not bear responsibility for violation or inadequate fulfillment of their duties in case of force major majeure circumstances, as stipulated in items 5.1-5.5 of the present Agreement.