中外合资经营合同英文(14)
Article 51
The amendment of the contract or other appendices shall come into
force only after a written agreement has been signed by Party A and Party
B and approved by the original examination and approval authority.
Article 52
In case of inability to fulfil the contract or to continue operation
due to heavy losses in successive years as a result of force majeure, the
duration of the joint venture and the contract shall be terminated before
the time of expiration after being unanimously agreed upon by the board of
directors and approved by the original examination and approval authority.
Article 53
Should the joint venture company be unable to continue its operation
or achieve its business purpose due to the fact that one of the
contracting parties fails to fulfil the obligations prescribed by the
contract and articles of association, or seriously violates the provisions
of the contract and articles of association, that party shall be deemed to
have unilaterally terminated the contract. The other party shall have the
right to terminate the contract in accordance with the provisions of the
contract after approval by the original examination and approval
authority, and to claim damages. In case Party A and Party B of the joint
venture company agree to continue the operation, the party who fails to
fulfil its obligations shall be liable for the economic losses caused
thereby to the joint venture company.
Chapter 19 Liability for Breach of Contract
Article 54
should either Party A or Party B fail to pay on schedule the
contributions in accordance with the provisions defined in Chapter 5 of
this contract, the party in breach shall pay to the other party _________%
of the contribution starting from the first month after exceeding the time
