Breach of agreement clause samples

1.Purpose of loan：Used for company business operating activities2.Loan Amounts: RMB five million3.The interest on the loan is fixed interest, loan rate: 10%/year.4.Term of borrowing: From 01/October/2019 to 31/December/2019. Lender shall make the payment to the following account before 08/October/2019.Name of account: Solarmax Technology (Shanghai) Co.,LtdBank of account: China Construction Bank Xie Tu Rd branchAccount number: 310015546000500094285.Repayment time: Repayment of principal and interest in full at the expiry of the full term of agreement6.The borrower shall return the principal and interest within the agreed time, if the repayment date is later than 30 days, the borrower shall pay 0.1% penalty of principal.7.Source of repayment: company's own capital8.Responsibility for breach of agreement: after the signing of this agreement, either party who fails to perform or under-performs their obligations hereunder will be liable for breach of agreement.9.When either of the two parties fails to fulfill the agreement, the non-breaching party shall have the right to require the breaching party to continue to perform this agreement.10.If the borrower needs to extend the term of the loan, the borrower shall apply to the lender within the 15 days before the end of loan, and with the consent of the borrower.11.If the lender release this agreement earlier and recover the principle earlier, the lender shall inform the borrower 15 days in advance, the borrower only has to pay back the principal, with no interest.12.In case of a force majeure that the agreement cannot be executed in accordance with the originally stipulated terms, the borrower shall apply to the lender to modify or terminate the agreement and exemption from liability for breach of agreement.13.Any change to this agreement shall be negotiated by both parties. Any disputes arising from or in connection with this agreement shall be settled through friendly negotiations between the parties. In case no settlement has been reached, either party can file a suit to the court where borrower register area located.14.Parties hereto may revise or supplement through negotiation matters not mentioned herein. There are two copies of this agreement with equal effectiveness. This agreement shall come into effect as of the day of signature.

4. Cancellation by either party of the distribution specified herein without authorization upon executing this Agreement shall be deemed as breach of Agreement. The defaulting party shall pay the liquidated damages for the breach, equivalent to the larger of 20% of the fee incurred in the settlement period, or RMB30,000.

8.1 The party who is unable to perform this agreement in whole or in part for any force majeure event will not be liable for breach of agreement. However, the party affected by force majeure event shall immediately notify the other party in writing of the vent, and present valid evidence within 5 working days. Both parties will negotiate to decide whether to continue performance of or terminate this agreement according to the effect of such event on performance of this agreement.

6.1 The Parties acknowledge and confirm that any information, oral or written, exchanged between the Parties in connection with this Agreement shall be deemed as confidential information. Each Party shall maintain the secrecy of all such confidential information and shall not disclosure any confidential information to any third party without the prior written consent of the other Party, except any information that: (a)is or becomes known to the public (not as a result of disclosure thereof by the Party receiving such confidential information to the public without authorization); (b) is required to be disclosed according to the applicable laws and regulations; or (c)needs to be disclosed to its board of directors or legal or financial advisors for purpose of the transactions contemplated hereby, provided that such directors or legal or financial advisors are bound by the obligation of confidentiality similar to that set forth in this Section6.1. Any disclosure of confidential information by any employee of or agent hired by a Party shall be deemed as a disclosure made by such Party, for which such Party shall be held liable for breach of agreement. The provisions of this Section6.1 shall survive any termination of this Agreement for any reason.

5.1 Breach of Agreement Any party that fails to perform the Agreement or performance of the Agreement does not comply with the provisions shall be deemed to be in breach of Agreement. The defaulting party shall indemnify the non-defaulting party for any and all losses resulting therefrom, and the non-defaulting party may require the defaulting party to assume other liabilities for breach of the Agreement in accordance with the applicable regulations and laws.

FIFTEENTH: Under no circumstances shall the Lessee transfer or assign the whole or any part of this agreement to third parties. SIXTEENTH: The Lessor has the right to investigate, recognize, explore and extract ores from her mining properties, requiring the Lessee to give free access to carry out these activities and in any way hinder or interfere this power, which constitutes the essential clause of this agreement, causing immediate termination of the lease in case of breach of agreement. SEVENTEENTH: The parties agree that, in case that MINERA POLYMET SpA, or any other authorized third party by MINERA POLYMET SpA, builds a plant in the leased mining claims, the Lessee must sell his ores exclusively to said plant.

4. No payment received by Party B shall be returned save and except for Party B’s liability for breach of Agreement. If the Agreement is breached by Party B, the access fee in the process of non-performance period shall be refund.

5. If the Agreement cannot be implemented due to changes relating laws, regulations, policies and other reasons, this Agreement shall terminate automatically, both Parties do not undertake responsibilities for breach of Agreement. If judiciary authorities require Party B to continue to provide some or all of the services for Party A, then the validity is automatically extended to the authorities’ required termination date. Both Parties shall abide by the content of this Agreement within automatic extended period. All business cooperation prior to the termination of this Agreement shall remain valid and both Parties shall continue to perform all obligations set forth until the completion of Agreement.

(b) Breach of Agreement. Licensee fails to perform in accordance with any of the material terms and conditions contained herein in any material respect.

9.Breach of Agreement. It is further agreed that this Agreement shall be deemed breached and a cause of action accrued thereon immediately upon the commencement of any act, action, or conduct contrary to the Agreement.

b) On February 22, 2016, the Company received notice that a consultant was seeking compensation for breach of agreement. Pursuant to the agreement, the parties agreed to equally split any net profits generated from the sale of Stealth cards made by the consultant. The Company asserts that historical sales generated from the sale of the Stealth cards were not as a result of the consultant's services, and therefore the Company should not be liable for any compensation due to the consultant. The Company has filed its Answer and Affirmative Defenses on July 18, 2016 and has asserted counterclaims against the consultant. The Company is currently awaiting the response from the consultant and is unable to estimate the likelihood of any outcome as at the date of the report.

·In June 2019, MGC made a claim for compensation from Oasmia as a result of MGC not being allowed to subscribe for shares with the support of 23.2 million warrants (see above). The claim is set at SEK 80 million plus interest and additional claims for damages of SEK 250 million. Oasmia's Board of Directors considers that MGC's claims have no merit and has therefore disputed it. Oasmia's current Board of Directors has noted that the payments by set-off that MGC has made and tried to make, when exercising warrants on September 7, 2018 and October 31, 2018, have been in breach of agreement. In addition, Oasmia's previous Board of Directors in November 2018 carried out a prepayment of loans to MGC of SEK 7 million, in a situation where Oasmia's liquidity was strained and in breach of the loan being pledged.