Common use of Guarantor’s Undertakings Clause in Contracts

Guarantor’s Undertakings. 1. 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 Contract, the Guarantor shall voluntarily undertake the unfulfilled obligations. 3. If the Guarantor fails to perform his guarantee obligations as agreed in 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 if any of the following events occur: (1) A change in the subsidiary relation and staffing of the senior management, amendment to the Articles of Association or an adjustment 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 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 a fifteen-day written notice in advance for a written consent from the Creditor: (1) The Guarantor changes its corporate structure or management, 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 indebtedness of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own for a third party’s debt, which may affect his performance of obligations under this Contract. 6. If the Debtor provides collateral as a guarantee to secure his indebtedness, the Guarantor shall continue to undertake his guarantee obligations over all the indebtedness undertaken as before the collateral comes into effect.

Guarantor’s Undertakings. 1. The Guarantor shall 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 ContractContracts, the Guarantor shall voluntarily undertake the unfulfilled guarantee obligations. 3. If the Guarantor fails to perform his the guarantee obligations as agreed in this Contractherein, 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 if within five days in case any of the following events occuroccurs: (1) A change in the subsidiary relation and staffing relation, staff of the senior management, amendment to the Articles of Association or an adjustment to 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 being involved in a major litigation or arbitration. (4) A change in name, address, legal representative or means of contact. (5) Any circumstance 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 fifteen-day written notice fifteen days in advance for a written consent from the Creditor: (1) The Guarantor changes its corporate structure or managementoperation, 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 indebtedness debt of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own for or a third party’s debt, which may affect his performance of obligations under this Contracthereunder. 6. If the Debtor provides collateral as a guarantee to secure his indebtednessguarantee, the Guarantor shall continue to undertake undertakes his guarantee obligations over all the indebtedness 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. The Guarantor has obtained the authorization as required hereunder to provide the guarantee according to relevant regulations and procedures. 2. The Guarantor shall provide authentic, complete and effective financial reports and statements statements, articles of association as well as other relevant materials and informationinformation with the Creditor and accept Creditor’s supervisions and inspection over its production operation and financial condition. 23. If the Debtor fails to perform the obligations as specified in the Main Contract, the Guarantor shall voluntarily undertake the unfulfilled obligations. 34. If the Guarantor fails to perform his guarantee obligations as agreed in this Contract, the Creditor is entitled to deduct the corresponding amount directly from any account of the Guarantor. 45. The Guarantor shall give a five-day written notice to the Creditor immediately if any of the following events occur: (1) A change in name, address, legal representative or means of contact. (2) A change in the subsidiary subordinate relation and staffing of the senior management, amendment to the Articles of Association or an adjustment 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 nameCessation of production, addressgoing out of business, legal representative cessation of production for rectification or means of contact.applied for bankruptcy, restructuring; (5) Revocation or cancellation of business license, closedown or other dissolution events; (6) Any circumstance that may adversely affect the enforcement of the Creditor’s right by the Creditor. 56. If the Guarantor intends to take any of the following actions, he shall apply a fifteen-day written notice in advance for a written consent from the Creditor: (1) The Guarantor changes its corporate structure or management, 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 indebtedness of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own for or a third party’s debt, which may affect his performance of obligations under this Contract. 6. If the Debtor provides collateral as a guarantee to secure his indebtedness, the Guarantor shall continue to undertake his guarantee obligations over all the indebtedness undertaken as before the collateral comes into effect.

Guarantor’s Undertakings. 1. 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 Master Contract, the Guarantor shall voluntarily undertake the unfulfilled obligations. 3. If 5-3 The Creditor shall have the Guarantor fails to perform his guarantee obligations as agreed in this Contract, 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 five5-day written notice to the Creditor if 4 In case of any of the following events occurcircumstances, the Guarantor shall within 5 days thereafter notify the Creditor in writing: (1) A change in the subsidiary relation and staffing of the Guarantor changes administrative relationship or senior management, amendment to the Articles amends its articles of Association or an adjustment to 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 being the Guarantor is involved in a major 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 circumstance that may adversely affect the enforcement of Guarantor has other circumstances which will not help 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 a fifteen-day written notice in advance for a written consent from the Creditorbehaviors: (1) The the Guarantor changes its corporate capital structure or managementoperation 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 indebtedness 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 for debt of it or a third party’s debtperson, which may affect his it performance of obligations under this Contractthe guarantee liability hereunder. 6. If 5-6 Where the Debtor provides collateral as a guarantee to secure his indebtednessguarantees with substantial objects, the Guarantor shall continue will perform the guarantee liability as to undertake his all debts guaranteed, prior to guarantee obligations over all the indebtedness undertaken as before the collateral comes into effectof substantial objects.