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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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2.1
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Scope
of Guarantee
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2.2
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Mode
of Guarantee
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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2.3
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Guarantee
Period
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2.4
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Alteration
of AGREEMENT
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3.1
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the
Guarantor shall be a independent legal subject that has complete civil
capacity to perform the obligations of the Agreement under the name of
itself and assume the civil responsibility
independently;
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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3.2
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The
Guarantor has the authority to sign the Agreement, and the Guarantor has
already obtained all the authorization and approval required by the
Agreement; The terms and conditions of this Agreement are reached on a
basis of the Guarantor’s real intent and free will and shall have legal
binding force on the Guarantor.
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3.3
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the
Guarantor hereby undertakes that there is no any infringement of the laws
(the laws hereof includes laws, regulations, rules, local laws and
regulations, judicial interpretation), Articles of Association, relevant
documents of the bodies with power, judgments or decisions made and any
conflict with other Agreements or agreements the Guarantor has already
signed or any other obligations the Guarantor has already taken during the
execution and performance of this
Agreement.
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3.4
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the
Guarantor shall promise all financial statements (if any) complies with
the laws and regulations of PRC (excluding Hong Kong, Macau SAR and Taiwan
Region) and could gives a real, complete and unprejudiced explanation of
the financial conditions of the Guarantor and all documents and materials
submitted to Party A are accurate, real, complete, valid without any
concealment.
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3.5
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the
Guarantor shall vow to go through the filling, registration or other
procedures required by the validity and legal performance of the Agreement
and pay relevant expenses;
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3.6
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there
occurs no big adverse change of the operational and financial situation
since the latest audited financial
statement;
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3.7
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the
Guarantor has disclosed all the facts or information it knows or should
know which is important for the Creditor to decide whether to offer the
loan under the AGREEMENT;
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3.8
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the
Guarantor hereby confirms any arrear of wage, medical care, disability
benefits and compensatory payment has not happened or will not happen in
the execution date and during the performance of this
Agreement;
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3.9
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the
Guarantor undertakes there is no situation or event that has or may have
material negative effect on the performance capability of the
Guarantor.
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4.1
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the
Commitments of the Guarantor
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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4.1.1
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The
Guarantor shall not take the following actions without the written content
of the Creditor:
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4.1.1.1
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dispose
the whole or majority of the significant assets in ways of sale, donation,
rent, transfer, mortgage, pledge or other
measures;
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4.1.1.2
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change materially the operative
mechanism or property organization form, including but not limited to
the contractual operation, leasing, consortium, corporation system
reform, shareholding reform, share transfer, merger (or acquisition),
joint venture with foreign investment (or cooperation), division,
establishment of subsidiaries, transfer of property and decrease of
registered capital;
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4.1.1.3
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change
the business scope or major businesses and to alter the Articles of
Association;
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4.1.1.4
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providing
the guarantee to the third parties, which has huge negative effect on the
Guarantor’s financial situation and its capability to perform the
obligations under the Agreement;
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4.1.1.5
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apply
for reorganization, bankruptcy and dismissal of the
company;
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4.1.1.6
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Sign
the contracts/agreements that have huge adverse effect on the Guarantor’s
ability to perform the obligations under the Agreement or assume relevant
obligations that have same effect.
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4.1.2
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the
Guarantor undertakes to promptly notify the Creditor of the event on the
day of the event and send the originals of relevant notice (stamped by
Non-natural person or signed by natural person) to the Creditor in 5
business days after the day of the event in case of the following
circumstances:
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4.1.2.1
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the
events that denies the authenticity and accuracy of the statements and
commitments the Guarantor makes in this Agreement
happen;
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4.1.2.2
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the
Guarantor or its controlling shareholder, actual controller or the related
parties being involved in litigation or arbitration, or its asset being
distrained upon, sealed-up, frozen or enforced or being imposed by other
measures that have same effect, or its legal representative, director,
supervisor and senior management staffs being involved in litigation,
arbitration or other enforcement
measures.
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE
AGREEMENT
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4.1.2.3
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the
change of the legal representative or its authorized representatives,
responsible person, major financial responsible person, communication
address, company name and work place of the Guarantor, or the change of
the Guarantor’s domicile, habitual residence, change of working unit, or
long-term departure of the residence place, or any adverse change in the
Guarantor’s income level;
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4.1.2.4
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the
reorganization and bankruptcy applied by other debtors or the revocation
made by the senior governing
authority.
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4.1.3
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the
Guarantor undertakes to submit relevant financial materials or income
certification as required by the Creditor during the signature and
execution of the AGREEMENT;
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4.1.4
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the
Guarantor undertakes to assume the joint and several liabilities to
complement the security deposit in case that the debtor fails to make up
the deficiency of the security deposit (including early making-up) as
required by the Creditor in issuing L/C, Letter of Guarantee or Standby
L/C business. The making-up of the deficiency of the security deposit
shall not constitute the exemption of the guarantee liability the
Guarantor shall undertake in accordance with the Agreement. Any losses
(including interest losses) arising out of the performance of the
obligation to complement the security deposit under the Agreement shall be
borne by the Guarantor itself.
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4.1.5
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the
Guarantor hereby vows to suspend the exercise of recourse right or
relevant rights arising from the performance of the Agreement before the
debtor pays off all debts under the
AGREEMENT;
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4.1.6
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The Guarantor
shall continue to assume the joint and several liabilities for the early
repayment or the sustained debts in case of the revocation of the
individual repayment if the debtor repays the debt in whole or in part
early or repays individually to the
Creditor.
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4.2
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Deduction
Provisions
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4.2.1
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The
authorized Creditor should directly deduct the same amount of money from
any account the Guarantor opens in Shanghai Pudong Development
Bank to clear off the overdue debt or deficient security deposit in
case of the overdue debt or that the security deposit shall be made up by
the Guarantor.
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE
AGREEMENT
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4.2.2
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Unless
the authorities of the country have particular regulations, the
deducted money should clear off all debts in the following orders: first
the money should be used to pay off the overdue expenses charged for the
Guarantor and debtor; then the money should be used to pay off the
interests of the overdue bills; the remaining money should be used to pay
off the principals of the overdue bills; if there are several overdue
claims, it is the Creditor’s right to decide the priority of the
pay-off.
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4.2.3
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In
case of any discrepancy between the currency of the accounts deducted and
the currency of money which needs to be repaid, the Creditor will be
responsible for conversion with an exchange rate determined by it and the
Guarantor shall bear the exchange rate
risk.
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4.3
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Certification
of debt
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4.4
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Notification
& Service
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4.4.1
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The
notice from one party to the other party shall be sent to the address
specified at the signature page of this Agreement, or other address
changed by the other party against written notice. If the notice is
delivered to the address mentioned hereinabove, the service shall be
deemed completed in the following date: the seventh bank business day as
from the date when the notice is sent by registered mail to the major
business place (for the corporation and its branches and subsidiaries or
other organization) or the domicile (for natural person) in case of
special mail service; the date signed by the recipient upon receipt in
case of special service; the transmission date in case of facsimile or
Email. However, the service of all notice, requirement or other
communication sent to the Creditor shall be deemed completed upon the
actual receipt of the Creditor. The notices sent to the Creditor in
the form of facsimile or Email shall be confirmed by the originals (sealed
by Non- natural person or signed by natural person) that could be
delivered face-to-face and sent by mail to the Creditor
afterwards.
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4.4.2
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the
Guarantor hereby agrees that the service of any court summons and notices
during any litigation hereof shall be deemed completed upon their arrival
at the domicile stated at the end of the Agreement. Any adjustment to the
address hereinabove shall not be valid for the Creditor without prior
written notification.
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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4.5
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Validity,
Amendment and Termination
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4.5.1
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This Agreement
shall be effective from the date of sealing by the Guarantor and the
Creditor and the signing or sealing by their legal representative/
responsible person or authorized representative (signature only for
natural person Guarantor) to the date when the guaranteed debts under the
Agreement are paid off.
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4.5.2
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The
Agreement is independent of principal AGREEMENT in the validity.
In other words, the total or partial invalidity of AGREEMENT shall not
affect the effectiveness of this Agreement and the obligation of the
Guarantor;
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4.5.3
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the
Agreement shall not be changed unilaterally or terminated early by either
party after the Agreement becomes effective; A written agreement
shall be reached between the parties hereto after negotiation in case that
the Agreement shall be amended and terminated
early.
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5.1
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Breach
of Agreement
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5.1.1
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Any
statement, explanation, guarantee made by the Guarantor during the term of
the Agreement or other relevant notice, authorization, approval, content,
certificate or other documents made by the Guarantor in compliance with or
related to the Guarantor are incorrect or misleading, or have been proven
incorrect or misleading, or have been proven invalid, revoked or legally
unbinding;
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5.1.2
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Any
infringement of one of the provisions of Article 4 of this
Agreement;
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5.1.3
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when
the Guarantor’s business is suspended, terminated, shut-down,
restructured, reorganized, taken-over or mandated, dissolved, revoked or
cancelled or bankrupted;
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5.1.4
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Death
or declaration of death of the Guarantor in case the Guarantor is natural
person;
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5.1.5
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the
change and transfer of the asset or attempted transfer of the asset by
virtue of fake marital relations by the
Guarantor;
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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5.1.6
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Deteriorating
financial situation, serious difficulties in production and business
operations or some circumstances that may affect the Guarantor’s
operational situation and financial condition or performance
capability.
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5.1.7
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the
Guarantor or its controlling shareholder, actual controller or the related
parties being involved in litigation or arbitration, or its asset being
distrained upon, sealed-up, frozen or enforced or being imposed by other
measures that have same effect, or its legal representative, director,
supervisor and senior management staffs being involved in litigation,
arbitration or other enforcement
measures.
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5.1.8
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Any
infringement of this Agreement that could hinder the smooth performance of
this Agreement or other behavior of the Guarantor that may lead to the
damage of legitimate interest of the
Creditor.
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5.2
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Settlement
of Breaches
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6.1
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Applicable
Law
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6.2
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Settlement
of Disputes
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE
AGREEMENT
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6.3
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Miscellaneous
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(1)
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Any
matters not provided herein shall be added in Article 7 or supplemented
subject to written agreement entered into between the parties. The
appendixes to the Agreement (please see Article 7 of this Agreement) shall
form integral parts of the Agreement and shall have the same binding force
as the Agreement itself.
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(2)
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Words
and expressions in this Agreement shall have the same meanings
respectively assigned to them in the AGREEMENT hereafter referred to,
unless otherwise provided.
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7.1
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The AGREEMENT
guaranteed by this Agreement (in correspondence with WHEREAS
clauses)
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(1)
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The
AGREEMENT covers a series of Agreements signed between 26th June, 2009 and
25th June, 2011.
The Creditor of this Agreement is Zhengzhou Branch,
Shanghai Pudong Development Bank stated in the
AGREEMENT;
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(2)
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The
debtor under the AGREEMENT is Henan
Shuncheng Group Coal Coke Co., Ltd. Domicile:
Nangongye
Rd.,
Tongye Town, Anyang.
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7.2
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The
Principal Creditor’s right (in correspondence with Article 1 of
this Agreement)
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7.3
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Settlement
of Breaches (in correspondence with Clause 2, Article
5)
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7.4
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The
appendixes of this Agreement includes: (in correspondence with Para.1,
Clause 3, Article 6)
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE AGREEMENT
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7.5
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Other
provisions (in correspondence with Para.1, Clause 3, Article
6)
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7.6
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The
Agreement shall be in originals,
respectively held by the Guarantor, the Debtor, and , and the
originals have same legal effect.
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SHANGHAI PUDONG DEVELOPMENT
BANK
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MAXIMUM
GUARANTEE
AGREEMENT
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1.
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Copy
of ID certificate
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2.
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Copy
of marriage certificate
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