A breach of agreement clause outlines the specific actions or failures that constitute a violation of the contract terms by one or more parties involved. It typically includes the remedies or consequences that will follow if a breach occurs, such as damages, penalties, or possible termination of the contract.
Mr. McKeown’s employment may be terminated by the Company upon 30 days’ notice for breach of agreement, gross negligence and crimes and dishonesty or at any time by giving Mr. McKeown 90 days prior written notice of the termination. In the latter case, 100% of Mr. McKeown’s unvested stock and option compensation of any nature will vest.
Mr. McKeown may terminate his employment with the Company for breach of agreement, non-payment change of responsibilities or compensation or change of location or at any time by giving the Company 90 days prior written notice of the termination.
If Party B fails to deliver the goods on time, Party B shall notify Party A in writing of the revised delivery date and delivery quantity no later than 15 working days before the agreed delivery date of the relevant order. After written confirmation by Party A, both parties may determine the specific delivery date and quantity separately, but Party A’s consent on making modifications will not exempt Party B from the liability for breach of agreement for failure to deliver the goods according to the original time. Party B shall still be liable for compensation for the losses caused to Party A. If Party B still fails to deliver the goods in accordance with the delivery quantity and date separately determined by both parties, Party B shall pay Party A liquidated damages equivalent to three thousandths of the total amount of the order for each day of delay. If the delay is more than ten days, Party A has the right to cancel the order. If Party A suffers losses as a result, Party B shall also compensate for the actual losses caused to Party A, except for the circumstances caused by force majeure.
If Party B violates this clause, Party A has the right to require Party B to pay liquidated damages of not less than RMB500,000 according to the specific breach of agreement.
If Party B fails to report to Party A in accordance with Article 6.19.1 and confirmed by Party A, if the content of the operation is prohibited from being published in Article 6.19.2, for each breach of agreement by Party B, Party A has the right to request Party B to pay liquidated damages of RMB500,000 according to the specific breach of agreement.
Party A may, according to the business development situation or based on Party B’s breach of agreement, notify Party B in writing to unconditionally withdraw the authority of Party A’s account operated on its behalf without the consent of Party B. Party B shall complete the handover of account operation within 5 working days from the date of receipt of Party A’s written notice. Party B’s refusal to hand over or extension of the handover shall be regarded as a breach of agreement. From the 6th day, Party A has the right to require Party B to voluntarily compensate Party A for RMB10,000 per day in addition to the liquidated damages stipulated in Article 6.19.3 above, and the cumulative total amount of liquidated damages is not limited.
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.
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.
3) Other serious breach of Agreement by Party B rendering the performance of this Agreement by Party A meaningless.
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.
1. If Party A or Party B delays or fails to perform its obligations in whole or in part due to force majeure or changes of circumstances, either party is not liable for breach of Agreement, provided that either party shall take measures in a timely manner to reduce losses caused by force majeure or changes in circumstances. Force majeure includes, but is not limited to, government regulations, national policy adjustment, terrorist attack, hacker attack, natural disaster, war, power outage, technical adjustment of telecommunication department and virus invasion. The parties shall not be liable to each other for liability of breach of the Agreement if the performance of the Agreement is partially or fully prevented or delayed due to the force majeure events mentioned hereabove.
VI. Liability for Breach of Agreement 1. Party A shall pay the distribution fee at the time and in the amount as agreed in this Agreement. Except for any delay caused by Party B, if Party A fails to pay the revenue share at the time agreed in this Agreement, Party A shall pay Party B a late payment fee for each day of delay at a rate of 0.03% of the amount payable for the current period. If the delay exceeds 30 natural days, Party B is entitled to unilaterally terminate this Agreement and require Party A to pay the relevant revenue share and late payment fee. 2. In case of any of the following breach of Agreement by Party A, Party B shall be entitled to unilaterally terminate this Agreement, provided that Party B shall notify Party A in a timely manner: Where Party A in breach of the confidentiality clause hereof, transfers, duplicates, disseminates, assigns, licenses, or discloses, permits or provides the trade secrets, software, data and other information contents of Party B for the use by other parties in any way, or uses for any commercial or business activities;
As a further result of the breach of agreement by AD Securities in May 2022 the Company was unable to meet the requirements to remain SEC compliant and therefore per the new rules the 15c211 was rescinded.
1.6 Notice of Breach: a notice sent by the Pledgee under this Agreement declaring a Breach of Agreement.
Breach of Agreement 6.1 Any of the following events shall be deemed a Breach of Agreement: 6.1.1 Shouzheng Credit Rating fails to promptly disburse the total consulting and services fees under the Service Agreement. 6.1.2 Any of the representations and warranties contained in Article 5 are materially misleading or false, and/or the Pledgor breaches any of the representations and warranties contained in Article 5. 6.1.3 The Pledgor breaches any of the terms and conditions of this Agreement. 6.1.4 Unless otherwise agreed under Article 5.6, the Pledgor forfeits the Equity Interests pledged or transfer such Equity Interests without the written consent of the Pledgee. 6.1.5 Any loan, guaranty, indemnification, undertaking or other responsibility that Shouzheng Credit Rating owes to any third party (1) is requested to be repaid or performed in advance due to breach of contract by Shouzheng Credit Rating; or (2) is due but not repaid or performed by Shouzheng Credit Rating such that the Pledgee believes that the capacity of Shouzheng Credit Rating to perform its obligations has been affected thereby.
6.3 Unless the events or circumstances specified in Articles 6.1 under this Agreement have been settled to the Pledgee’s satisfaction, the Pledgee may send a Notice of Breach in writing to the Pledgor at any time during or after a Breach of Agreement by the Pledgor, requesting the Pledgor to forthwith pay any and all debts under the Service Agreement and other debts due, or it may exercise its Right of Pledge in accordance with the provisions contained in Article 7 hereunder.
Article 5 Liability for a breach of Agreement If one Party breaches, which therefore makes the Agreement cannot be fulfilled or cannot be fully performed, the breaching party shall be liable for the breach of Agreement; if several parties are at fault, the default parties shall bear their respective liability therefrom the breach of Agreement according to the actual situation.
LIABILITY FOR BREACH OF THE AGREEMENT 20.1 Unless the Agreement otherwise requires, if one party fails to abide by the Agreement and fails to perform the obligations and responsibilities under this Agreement, the other party shall inform the defaulting party in writing and request the defaulting party to correct the breach of Agreement within 7 days after receiving the written notice. If the defaulting party fails to take any effective remedial measures within the regulated time, the other party has the right to terminate the Agreement and wait for the defaulting party to rectify the breach of Agreement and resume the performance of the Agreement, if the defaulting party fails to take any effective measures within 15 days after receiving the written notice, the other party shall have the right to terminate the Agreement in advance. After the Agreement is terminated, the defaulting party shall pay all losses suffered by the observant party due to defaulting’s breach of Agreement.
If the Project cannot be operated normally due to the reasons of the Client, including but not limited to: the Manager cannot manage the Project normally resulting from restrictions on operating conditions and restrictions on the management personnel’s authority, the Manager shall not be liable for breach of Agreement by the Client. In the event that the above-mentioned incident has not been properly resolved within one month after it occurs, the Manager has the right to terminate this Agreement in advance without any liability. If the agreement is terminated due to the above reasons, the Client shall pay all outstanding payments, including management fees and termination compensation (the amount of the termination compensation shall be implemented pursuant top rovision of 20.2), and shall comply with the termination requirements specified in this Agreement.
The Manager shall not be liable for breach of Agreement of the Client due to abnormal operation and the management of the Project resulting from the reasons of. government or other third party (including but not limited to municipal maintenance, road construction, public security, etc.). In the event that the above-mentioned incident has not been properly resolved within two months after it occurs, the Manager has the right to terminate this Agreement in advance without any liability. Termination of the Agreement for the above reasons does not alleviate or exempt the Client of the obligation to pay all management fees payable.
A breach of agreement occurs when one or more parties involved in a contract fail to fulfill their contractual obligations. This can include not performing on time, failing to perform in accordance with the terms of the agreement, or not performing at all. The breach can be “material,” meaning it significantly impacts the contract’s outcome, or “minor” (also known as a partial breach), which doesn’t substantially affect the contract’s performance.
You should use the term “breach of agreement” when discussing a situation where a contractual obligation has not been met. This term is applicable in legal contexts, negotiations for dispute resolution, or when documenting issues related to contract compliance. Identifying a breach is crucial because it may entitle the non-breaching party to remedies such as damages, specific performance, or contract termination.
When writing about a breach of agreement, clarity and detail are key. Start by identifying the breached provision of the contract. Then provide a factual description of how the breach occurred. Lastly, discuss the potential remedies or resolutions. Include the following elements:
Example: Party A entered into a service agreement with Party B to deliver software by March 1st. The delivery was not made until April 15th, constituting a breach of the agreement. This delay negatively affected Party A’s operations, leading to financial losses. Party A seeks damages for these losses and considers terminating the contract if timely delivery cannot be ensured.
Breach of agreement terms can be found in a wide range of contracts across various industries. Some common examples include:
Service Agreements: Contractual terms specifying the services to be provided and timelines.
Supply Contracts: Agreements between suppliers and purchasers often contain breach clauses to ensure timely delivery and fulfillment of order quantities.
Rental or Lease Agreements: These often contain terms outlining the conditions under which a breach by either the landlord or tenant might occur.
Construction Contracts: These agreements often include detailed terms about timelines, quality of work, and breach remedies.
Employment Contracts: These outline the duties of the employee and employer obligations, with breach implications for premature termination or failure to adhere to job responsibilities.
In any contract, a well-drafted breach clause can help protect the interests of the parties involved by clearly defining the expectations and remedies in case a breach occurs.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A breach of confidentiality clause stipulates the obligations and responsibilities of parties to protect sensitive information from unauthorized disclosure or misuse. It outlines the repercussions and potential legal ramifications should any party fail to uphold these confidentiality commitments.
A break clause is a provision in a contract that allows one or both parties to terminate the agreement early under specified conditions, often after giving prior notice. This clause offers flexibility, enabling parties to exit the contract without facing significant penalties or legal repercussions.
A breakup fee is a financial penalty imposed on a party, often used in mergers and acquisitions, to compensate the other party if the deal is terminated under certain circumstances. This clause is intended to protect the interests of the party impacted by a failed agreement, covering costs and potential losses incurred during the negotiation process.
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