Common use of GUARANTORS’ LIABILITIES Clause in Contracts

GUARANTORS’ LIABILITIES. I. Party A shall be jointly and severally liable within the scope of guarantee, if the debts under the Main Contract are due or Party B announces advanced maturity of debts according to the Main Contract or laws, the debtor fails to fulfill in full amount and in a timely manner, or the debtor breaches other provisions of the Main Contract. II. Whether Party B has other guarantee of credits under the Main Contract (including but not limited to various guaranty methods such as guaranty, mortgage, pledge, guaranty letter and standby L/C), whether the guaranties are valid and established, whether Party B claims its right to other guarantors, whether any third party agrees to be liable for total or partial debts under the Main Contract, and whether other guaranties are provided by the debtor, Party A’s liabilities as a guarantor under this Contract will not be reduced or exempted. Party B can directly require Party A to be liable within the scope of its guarantee according to this Contract; and Party A cannot raise any objections. III. If Party A only provides guarantee for a part of the debts under the Main Contract, Party A agrees that even if the debtor repays part of the debt, or Party B partially exercises its right under other guarantees, or the debt was partially paid by other means, Party A will be responsible within the scope of the guarantee for the unpaid debt. IV. If Party A only provides guarantee for part of the debts under the Main Contract, and if the debts under the Main Contract are not fully paid after Party A performs its obligation as a guarantor, Party A agrees not to cause any damage to Party B when it claims its subrogation right (including in-advance) against the debtor or other guarantors. Party A agrees that the right to receive repayment of debts under the Main Contract has priority over Party A’s subrogation right. Before total repayment of Party B’s credits: (a) Party A agrees not to claim its subrogation right against the debtor or other guarantors; once Party A has exercised the above right due to any reason, it shall use the payment from the claim to first repay the unpaid debt owned to Party B’s ; (b) If the debts under the Main Contract have collateral, Party A agrees not to declare rights to the secured articles or the proceeds of sale of such articles for any reason including but not limited to subrogation rights. The secured articles or the proceeds of sales of such articles shall be first used to repay the unpaid debts owed to Party B. (c) If the debtor or other guarantor has provided a counter-guarantee to Party A, Party A shall use the proceeds from the above counter-guarantees to first repay unpaid debt owed to Party B. V. Party A fully understands the interest rate risks. Party A agrees to be jointly and severally responsible for the increased part due to the increase of the interest rate, the default interest or the compound interest, if Party B adjusts the interest rate according to the Main Contract, or the government adjusts the interest rate, calculation method or the settlement method. VI. If the debtor has other loans from Party B other than the loans under the Main Contract, Party B has the right to receive the debtor’s RMB or other currency expenses in the account established in the system of China Construction Bank to satisfy any expired debt. Party A’s guaranty responsibilities are not reduced or exempted.

GUARANTORS’ LIABILITIES. I. Party A shall be jointly and severally liable within the scope of guarantee, if the debts under the Main Contract are due or Party B announces advanced maturity of debts according to the Main Contract or laws, the debtor fails to fulfill in full amount and in a timely manner, or the debtor breaches other provisions of the Main Contract. II. Whether Party B has other guarantee of credits under the Main Contract (including but not limited to various guaranty methods such as guaranty, mortgage, pledge, guaranty letter and standby L/C), whether the guaranties guarantees are valid and established, whether Party B claims its right to other guarantors, whether any third party agrees to be liable for total or partial debts under the Main Contract, and whether other guaranties guarantees are provided by the debtor, Party A’s liabilities as a guarantor under this Contract will not be reduced or exempted. Party B can directly require Party A to be liable within the scope of its guarantee according to this Contract; and Party A cancan not raise any objections. III. If Party A only provides guarantee for a part of the debts under the Main Contract, Party A agrees that even if the debtor repays part of the debt, or Party B partially exercises its right under other guarantees, or the debt was partially paid by other means, Party A will be responsible within the scope of the guarantee for the unpaid debt. IV. If Party A only provides guarantee for part of the debts under the Main Contract, and if the debts under the Main Contract are not fully paid after Party A performs its obligation as a guarantor, Party A agrees not to cause any damage to Party B when it claims its subrogation right (including in-advance) against the debtor or other guarantors. Party A agrees that the right to receive repayment of debts under the Main Contract has priority over Party A’s subrogation right. Before total repayment of Party B’s credits: (a) Party A agrees not to claim its subrogation right against the debtor or other guarantors; once Party A has exercised the above right due to any reason, it shall use the payment from the claim to first repay the unpaid debt owned to Party B’s ; (b) If the debts under the Main Contract have collateral, Party A agrees not to declare rights to the secured articles or the proceeds of sale of such articles for any reason including but not limited to subrogation rights. The secured articles or the proceeds of sales sale of such articles shall be first fist used to repay the unpaid debts owed to Party B. (c) If the debtor or other guarantor has provided a counter-guarantee to Party A, Party A shall use the proceeds from the above counter-guarantees to first repay unpaid debt owed to Party B. V. Party A fully understands the interest rate risks. Party A agrees to be jointly and severally responsible for the increased part due to the increase of the interest rate, the default interest or the compound interest, if Party B adjusts the interest rate according to the Main Contract, or the government adjusts the interest rate, calculation method or the settlement method. VI. If the debtor has other loans from Party B other than the loans under the Main Contract, Party B has the right to receive the debtor’s RMB or other currency expenses in the account established in the system of China Construction Bank to satisfy any expired debt. Party A’s guaranty responsibilities are not reduced or exempted.

GUARANTORS’ LIABILITIES. I. Party A shall be jointly and severally liable within the scope of guarantee, if the debts under the Main Contract are due or Party B announces advanced maturity of debts according to the Main Contract or laws, the debtor fails to fulfill in full amount and in a timely manner, or the debtor breaches other provisions of the Main Contract. II. Whether Party B has other guarantee of credits under the Main Contract (including but not limited to various guaranty methods such as guaranty, mortgage, pledge, guaranty letter and standby L/C), whether the guaranties are valid and established, whether Party B claims its right to other guarantors, whether any third party agrees to be liable for total or partial debts under the Main Contract, and whether other guaranties are provided by the debtor, Party A’s liabilities as a guarantor under this Contract will not be reduced or exempted. Party B can directly require Party A to be liable within the scope of its guarantee according to this Contract; and Party A cannot raise any objections. III. If Party A only provides guarantee for a part of the debts under the Main Contract, Party A agrees that even if the debtor repays part of the debt, or Party B partially exercises its right under other guarantees, or the debt was partially paid by other means, Party A will be responsible within the scope of the guarantee for the unpaid debt. IV. If Party A only provides guarantee for part of the debts under the Main Contract, and if the debts under the Main Contract are not fully paid after Party A performs its obligation as a guarantor, Party A agrees not to cause any damage to Party B when it claims its subrogation right (including in-advance) against the debtor or other guarantors. Party A agrees that the right to receive repayment of debts under the Main Contract has priority over Party A’s subrogation right. Before total repayment of Party B’s credits: (a) Party A agrees not to claim its subrogation right against the debtor or other guarantors; once Party A has exercised the above right due to any reason, it shall use the payment from the claim to first repay the unpaid debt owned to Party B’s ’s; (b) If the debts under the Main Contract have collateral, Party A agrees not to declare rights to the secured articles or the proceeds of sale of such articles for any reason including but not limited to subrogation rights. The secured articles or the proceeds of sales of such articles shall be first used to repay the unpaid debts owed to Party B. (c) If the debtor or other guarantor has provided a counter-guarantee to Party A, Party A shall use the proceeds from the above counter-guarantees to first repay unpaid debt owed to Party B. V. Party A fully understands the interest rate risks. Party A agrees to be jointly and severally responsible for the increased part due to the increase of the interest rate, the default interest or the compound interest, if Party B adjusts the interest rate according to the Main Contract, or the government adjusts the interest rate, calculation method or the settlement method. VI. If the debtor has other loans from Party B other than the loans under the Main Contract, Party B has the right to receive the debtor’s RMB or other currency expenses in the account established in the system of China Construction Bank to satisfy any expired debt. Party A’s guaranty responsibilities are not reduced or exempted.

GUARANTORS’ LIABILITIES. I. Party A shall be jointly and severally liable within the scope of guarantee, if the debts under the Main Contract are due or Party B announces advanced maturity of debts according to the Main Contract or laws, and that the debtor fails to fulfill in full amount and in a timely manner, or that the debtor breaches other provisions of the Main Contract. II. Whether No matter whether Party B has other guarantee of credits under the Main Contract (including but not limited to various guaranty methods such as guaranty, mortgage, pledge, guaranty letter and standby L/C), whether the guaranties guarantees are valid and established, whether Party B claims its right to other guarantors, whether any third party agrees to be liable for total or partial debts under the Main Contract, and whether other guaranties guarantees are provided by the debtor, Party A’s liabilities as a guarantor under this Contract will not be reduced or exempted. Party B can directly require Party A to be liable within the scope of its guarantee according to this Contract; and Party A cancan not raise any objections. III. If Party A only provides guarantee for a part of the debts under the Main Contract, Party A agrees that even if the debtor repays part of the debt, or Party B partially exercises its right under other guarantees, or the debt was partially paid by other means, Party A will be responsible within the scope of the guarantee for the unpaid debt. IV. If Party A only provides guarantee for part of the debts under the Main Contract, and if that the debts under the Main Contract are not fully paid after Party A performs its obligation as a guarantor, Party A agrees not to cause any damage to Party B when it claims its subrogation right (including in-advance) against the debtor or other guarantors. Party A agrees that the right to receive repayment of debts under the Main Contract has priority over Party A’s subrogation right. Before total repayment of Party B’s credits: (aI) Party A agrees not to claim its subrogation right against the debtor or other guarantors; once Party A has exercised the above right due to any reason, it shall use the payment from the claim to first repay the unpaid debt owned to Party B’s ; (bII) If the debts under the Main Contract have collateral, Party A agrees not to declare rights to the secured articles or the proceeds of sale of such articles for any reason including but not limited to subrogation rights. The secured articles or the proceeds of sales sale of such articles shall be first fist used to repay the unpaid debts owed to Party B. (cIII) If the debtor or other guarantor has provided a counter-guarantee to Party A, Party A shall use the proceeds from the above counter-guarantees to first repay unpaid debt owed to Party B. V. Party A fully understands the interest rate risks. Party A agrees to be jointly and severally responsible for the increased part due to the increase of the interest rate, the default interest or the compound interest, if Party B adjusts the interest rate according to the Main Contract, or the government adjusts the interest rate, calculation method or the settlement method. VI. If the debtor has other loans from Party B other than the loans under the Main Contract, Party B has the right to receive the debtor’s RMB or other currency expenses in the account established in the system of China Construction Bank to satisfy any expired debt. Party A’s guaranty responsibilities are not reduced or exempted.