shall remain in force for one year. This Agreement shall be automatically renewed one year each time on each expiration date unless this Agreement is terminated by either Party upon serving thirty days advance written notice of termination to the other Party prior to the expiration.
Notwithstanding subsection above:
Both Party reserve the right, immediately to cancel and terminate this Agreement at any time by notice to the other Party in the event that the other Party has breaches any of its obligations hereunder (except the failure of making payment), and has failed to correct such default within ten days after receiving written notice thereof. The failure of either Party to cancel and terminate this Agreement for breach of any condition or covenant shall not affect its right to terminate it for subsequent breaches of the same or other conditions or covenants; or
Party A has the right to immediately terminate this Agreement without any notice in the event that Party B fails to make any payment according to this Agreement.
Party A reserves the right, immediately to cancel this Agreement at any tine by notice to the Party B in the event that Party B enters into liquidation, becomes insolvent, applies for a preventive or suspense agreements with its creditors, applies for bankruptcy, or in the event
that a major part of the assets or a majority of the voting shares of Party B becomes vested on or subject to the direction and control of another corporation or association which is a related company o any competitor of Party A or any of Party A’s related companies; or Either of the Parties can terminate this Agreement without cause with thirty days prior written notice.
Termination or expiration of this Agreement shall not cancel the obligation to make any payment due or which become due hereunder. Party B may sell the Products then on hand at regular selling price, unless Party A offers to repurchase them at the price at which Party B originally purchased them ? Selling Licenses
Party B shall, at its sole costs and expense, obtain all licenses, permits and other authorizations which may be necessary or advisable to permit the Products to be sold in the local marketing areas. Upon termination or expiration of this Agreement for any reason Party B shall transfer all such licenses, permits and authorizations to Party A or Party A’s designee or at Party A’s options cancel such licenses, permits and authorizations. ? Force Majeure
If the performance of this Agreement or of any obligation hereunder, except the payment of moneys hereunder, is prevented or interfered
with by reason of any cause beyond the reasonable control of the affected party such as, but not limited to Acts of God, governmental acts, civil or labor unrest, wars, terrorism or other natural calamity of unforeseen events, the Party so affected upon prompt notice to the other Party shall be excused from such performance to the extent of such prevention, restriction or interference, provided that the Party so affected shall use its best efforts to avoid or remove such causes of non-performance and shall continue performance hereunder with the utmost dispatch whenever such causes are removed. In the event that a Party is unable to perform due to Force Majeure for a period exceeding thirty days, the other Party may terminate this Agreement with seven days written notice. ? Special Payment
Party A does not make any special payment whatsoever, in cash or in kind, either directly or in directly to any third party with a view to influencing the decision of such third party on order to obtain any benefit or advantage whatsoever. Nothing herein authorize Party B to make any such payment, either directly or indirectly, in the performance of its obligation hereunder not shall Party A reimburse any such payments. ? Products Return
Only under the following circumstance, Party A will accept the
return of Products by Party B:
Party A regards that Products have quality issues and need to withdraw or recall these Products;
Products were shipped to Party B by Party A’s errors;
The Products which Party B has not paid for and are still on stock and Party B is at the time of bankruptcy;
Products have been damaged before Party B accepts the Products; Any other returns initiated or agree by Party A.
Return of Products must be in the same unit of measure in which Party A sells expect for recalls and returns initiated by Party A ? Information Provision
Party A shall provide Party B with information necessary for the distribution of Products. Party B shall provide information or material including, but not limited to Party B’s commercial &industrial registration information, a copy of tax registration certificate, financial statement, office address, warehouse address, address for posting invoices, telephone number, received stamp, invoices receiver, goods receiver, account number, etc. any alterations of the aforesaid information and material shall be informed to another Party immediately. ? Notice
Any notice to be given under this Agreement shall be in writing and
shall be delivered personally or sent by registered mail, telex or facsimile transmission to the following: Party A: Procter & Gamble (Guangzhou) Ltd.
Address: Center Plaza, 161 Linhexi Road Tianhe District,
Guangzhou City.
Telephone: (020)85186688, 13701011648 Facsimile: 85186122 Party B: Address: Telephone: Facsimile:
Any party may change such address or attention by not less than thirty days’ written notice to the other party in accordance herewith and such change shall take effect on receipt of such notice by the other party.
In the event a notice is sent by telex or facsimile transmission or delivered personally, the receipt date of the notice shall be the date of telex, facsimile transmission or personally receipt respectively. In the event a notice is given by registered mail, the receipt date of the notice shall be seven days after the postmark sending date. Transfer of Right
Neither party shall be entitled to transfer or assign, partially or