Common use of Guarantor’s Undertakings Clause in Contracts

Guarantor’s Undertakings. 1. To provide authentic, complete and effective financial reports and statements as well as other relevant materials and information. 2. If the Debtor fails to perform the obligations as specified in the Main Contracts, the Guarantor shall voluntarily undertake the guarantee obligations. 3. If the Guarantor fails to perform the guarantee obligations as agreed herein, the Creditor is entitled to deduct the corresponding amount directly from any account of the Guarantor. 4. The Guarantor shall give a written notice to the Creditor within five days in case any of the following events occurs: (1) A change in the subsidiary relation, staff of the senior management, amendment to the Articles of Association or an adjustment in the corporate structure. (2) Cessation of production, going out of business, cancellation of registration or revocation of business license. (3) Deterioration of financial situation, serious difficulties in production and business, or a major litigation or arbitration. (4) A change in name, address, legal representative or means of contact. (5) Any circumstances that may adversely affect the enforcement of the Creditor’s right by the Creditor. 5. If the Guarantor intends to take any of the following actions, he shall apply with a written notice fifteen days in advance for a written consent from the Creditor: (1) The Guarantor changes its corporate structure or operation, including but not limited to contracting, leasing, reform of stockholding system, joint operation, merger, acquisition, divestiture, joint venture, asset transfer, application for suspension of business for regulatory measures, application for dissolution and application for bankruptcy. (2) The Guarantor provides guarantee for the debt of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own or a third party’s debt, which may affect his performance of obligations hereunder. 6. If the Debtor provides collateral as a guarantee, the Guarantor undertakes his guarantee obligations over all the debts undertaken as before the collateral comes into effect. 7. If the Debtor and the Guarantor default under the Main Contracts or hereunder, the Creditor is entitled to declare pre-maturity of the indebtedness hereunder and demand the Guarantor to perform and undertake the joint and several liability as agreed herein.

Guarantor’s Undertakings. 1. To The Guarantor shall provide authentic, complete and effective financial reports and statements as well as other relevant materials and information. 2. If the Debtor fails to perform the obligations as specified in the Main ContractsContract, the Guarantor shall voluntarily undertake the guarantee unfulfilled obligations. 3. If the Guarantor fails to perform the his guarantee obligations as agreed hereinin this Contract, the Creditor is entitled to deduct the corresponding amount directly from any account of the Guarantor. 4. The Guarantor shall give a five-day written notice to the Creditor within five days in case if any of the following events occursoccur: (1) A change in the subsidiary relation, staff relation and staffing of the senior management, amendment to the Articles of Association or an adjustment in to the corporate structure. (2) Cessation of production, going out of business, cancellation of registration or revocation of business license. (3) Deterioration of financial situation, serious difficulties in production and business, or being involved in a major litigation or arbitration. (4) A change in name, address, legal representative or means of contact. (5) Any circumstances circumstance that may adversely affect the enforcement of the Creditor’s right by the Creditor. 5. If the Guarantor intends to take any of the following actions, he shall apply with a fifteen-day written notice fifteen days in advance for a written consent from the Creditor: (1) The Guarantor changes its corporate structure or operationmanagement, including but not limited to contracting, leasing, reform of stockholding system, joint operation, merger, acquisition, divestiture, joint venture, asset transfer, application for suspension of business for regulatory measures, application for dissolution and application for bankruptcy. (2) The Guarantor provides guarantee for the debt indebtedness of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own or for a third party’s debt, which may affect his performance of obligations hereunderunder this Contract. 6. If the Debtor provides collateral as a guaranteeguarantee to secure his indebtedness, the Guarantor undertakes shall continue to undertake his guarantee obligations over all the debts indebtedness undertaken as before the collateral comes into effect. 7. If the Debtor and the Guarantor default under the Main Contracts or hereunder, the Creditor is entitled to declare pre-maturity of the indebtedness hereunder and demand the Guarantor to perform and undertake the joint and several liability as agreed herein.

Guarantor’s Undertakings. 1. To 5-1 The Guarantor shall provide authentictrue, complete and effective financial reports statements and statements as well as other relevant materials and information. 2. If 5-2 The Guarantor will be willing to fulfill its liability of guarantee if the Debtor fails to perform discharge the obligations as specified in debt according to the Main Contracts, the Guarantor shall voluntarily undertake the guarantee obligationsMaster Contract. 3. If 5-3 The Creditor shall have the Guarantor fails to perform the guarantee obligations as agreed herein, the Creditor is entitled right to deduct the corresponding amount directly sum from any account of the GuarantorGuarantor if the Guarantor fails to fulfill its guarantee liability according to the Contract. 4. The Guarantor shall give a written notice to the Creditor within five days in 5-4 In case of any of the following events occurscircumstances, the Guarantor shall within 5 days thereafter notify the Creditor in writing: (1) A change in the subsidiary relation, staff of the Guarantor changes administrative relationship or senior management, amendment to the Articles amends its articles of Association or an adjustment in the corporate association and adjusts its organization structure.; (2) Cessation of the Guarantor stops production, going out of closes business, cancellation of cancels registration or revocation of is revoked business license.; (3) Deterioration of financial situationthe Guarantor’s finance deteriorates, serious difficulties in or production and business, operation are in severe difficulty or a major the Guarantor is involved in significant litigation or arbitration.; (4) A change in the Guarantor changes name, addressdomicile, legal representative or means of contact.representative, contact method and so on; or (5) Any the Guarantor has other circumstances that may adversely affect which will not help the enforcement of the CreditorCreditor realize its creditor’s right by the Creditorright. 5. If -5 The Guarantor shall notify the Creditor in writing 15 days in advance and obtain written consent of the Creditor if the Guarantor intends to take any of conduct the following actions, he shall apply with a written notice fifteen days in advance for a written consent from the Creditorbehaviors: (1) The the Guarantor changes its corporate capital structure or operationoperation system, including including, but not limited to contractingto, leasingcontract, reform of stockholding systemlease, joint operationstock reconstruction, joint management, merger, acquisitionacquirement, divestituredivision, joint venture, asset transfer, application for suspension of business for regulatory measures, application for dissolution transfer and application for business stoppage and rectification, dissolution or bankruptcy.; (2) The the Guarantor provides guarantee for to the debt of a third party person or utilizes his major asset as a mortgage mortgage, pawn or pledge guarantee its main assets for his own debt of it or a third party’s debtperson, which may affect his it performance of obligations the guarantee liability hereunder. 6. If 5-6 Where the Debtor provides collateral as a guaranteeguarantees with substantial objects, the Guarantor undertakes his will perform the guarantee obligations over all the debts undertaken as before the collateral comes into effect. 7. If the Debtor and the Guarantor default under the Main Contracts or hereunder, the Creditor is entitled to declare pre-maturity of the indebtedness hereunder and demand the Guarantor to perform and undertake the joint and several liability as agreed hereinto all debts guaranteed, prior to guarantee of substantial objects.