Common use of Representations and Guarantees Clause in Contracts

Representations and Guarantees. The Borrower has made to the Lender the following representations, and shall remain in effect during the tenure of this Contract: 6.1 The project and matters for which the Loan is related are in compliance with the laws and regulations. 6.2 The Borrower is legally qualified as a borrower, capable to enter into and execute this Contract. 6.3 The execution of this Contract has obtained all necessary authorization and approval, and the execution and fulfilment of this Contract does not in breach with the Borrower’s articles of association and relevant laws and regulations and does not contradict to terms of other contracts of the Borrower. The major shareholders has jointly and severally provided guarantee to the Lender for the Loan. 6.4 All debts fall due has been settled on time, there is no delay in payment of interest on bank loans with malicious intent. 6.5 There are sound organization structure and financial management system. There is no event of major violation in the past year of operation. There is no major unhealthy record caused by present senior management. 6.6 Documents and information provided to the Lender are true, accurate, complete and valid, where false records, material omission and misleading representation do not exist. 6.7 Financial reports provided to the Lender are prepared in accordance with accounting standard of the PRC and are truly, fairly and completely reflect the Borrower’s operating status indebtedness. Since the date of the latest financial reports, there is no material unfavourable financial change to the Borrower. 6.8 There is no event of litigations, arbitration or compensation conceal from the Lender.

Representations and Guarantees. The Borrower has made to the Lender the following representations, and shall remain in effect during the tenure of this Contract: 6.1 The project and matters for which the Loan is related are in compliance with the laws and regulations. 6.2 7.1 The Borrower is legally qualified as a borrower, capable to enter into and execute this Contract. 6.3 7.2 The execution of this Contract has obtained all necessary authorization and approval, and the execution and fulfilment of this Contract does not in breach with the Borrower’s articles of association and relevant laws and regulations and does not contradict to terms of other contracts of the Borrower. The major shareholders has jointly and severally provided guarantee to the Lender for the Loan. 6.4 7.3 All debts fall due has been settled on time, there is no delay in payment of interest on bank loans with malicious intent. 6.5 7.4 There are sound organization structure and financial management system. There is no event of major violation in the past year of operation. There is no major unhealthy record caused by present senior management. 6.6 7.5 Documents and information provided to the Lender are true, accurate, complete and valid, where false records, material omission and misleading representation do not exist. 6.7 7.6 Financial reports provided to the Lender are prepared in accordance with accounting standard of the PRC and are truly, fairly and completely reflect the Borrower’s operating status indebtedness. Since the date of the latest financial reports, there is no material unfavourable financial change to the Borrower. 6.8 7.7 There is no event of litigations, arbitration or compensation conceal from the Lender.

Representations and Guarantees. The Borrower has made to the Lender the following representations, and shall remain in effect during the tenure of this Contract: 6.1 7.1 The project and matters for which the Loan is related are in compliance with the laws and regulations. 6.2 7.2 The Borrower is legally qualified as a borrower, capable to enter into and execute this Contract. 6.3 7.3 The execution of this Contract has obtained all necessary authorization and approval, and the execution and fulfilment of this Contract does not in breach with the Borrower’s articles of association and relevant laws and regulations and does not contradict to terms of other contracts of the Borrower. The major shareholders has jointly and severally provided guarantee to the Lender for the Loan. 6.4 7.4 All debts fall due has been settled on time, there is no delay in payment of interest on bank loans with malicious intent. 6.5 7.5 There are sound organization structure and financial management system. There is no event of major violation in the past year of operation. There is no major unhealthy record caused by present senior management. 6.6 7.6 Documents and information provided to the Lender are true, accurate, complete and valid, where false records, material omission and misleading representation do not exist. 6.7 7.7 Financial reports provided to the Lender are prepared in accordance with accounting standard of the PRC and are truly, fairly and completely reflect the Borrower’s operating status indebtedness. Since the date of the latest financial reports, there is no material unfavourable financial change to the Borrower. 6.8 7.8 There is no event of litigations, arbitration or compensation conceal from the Lender.