Common use of The Borrower’s Undertakings Clause in Contracts

The Borrower’s Undertakings. 8.1 To drawdown and use the Loan in accordance to the terms and tenure of this Contract, the Loan shall not be used for the purpose of fixed assets, equity, etc. investments, and shall not be used in any way in the securities market, futures market or for any other purpose that is prohibited or restricted by relevant laws and regulations. 8.2 To fully repay the principal, interest and other expenses payable in accordance with this Contract. 8.3 To actively cooperate with the Lender to inspect and supervise the usage of the Loan through bank account analysis, voucher inspection, site visit, etc. and to report to the Lender the utilization status of the Loan at the Lender’s request. 8.4 To accept the Lender’s credit inspection, to provide to the Lender financial information including balance sheet and profit and loss account and other documents reflecting the Borrower’s repayment ability at the Lender’s request. To actively assist and cooperate with the Lender in the investigation, understanding and supervision of the operation and financial status of the Borrower. 8.5 Shall not distribute any form of dividends prior to the full repayment of principal, interest and other expenses of the Loan. 8.6 Prior to proposed consolidation, spin-off, capital reduction, change in ownership, material assets and liabilities transfer, material external investment, increase in debt financing and any other actions that may negatively affect the Lender’s rights, the Borrower shall obtain the Lender’s written consent or to provide an arrangement for the realization of the Lender’s right that is satisfied by the Lender. 8.7 In case of occurrence of any one of the following, to notify the Lender immediately: (1) Change of articles of association, area of business, registered capital, legal representative, address and form of contact; (2) Out of business, dismissal, liquidation, suspension of business, revocation of business licence, being revoked or applied (or being applied) for bankruptcy; (3) involvement or potential involvement of material economic dispute, litigation, arbitration, or seizure or retention of assets by laws; (4) involvement of material case or economic dispute by shareholders, directors or existing senior management; 8.8 Prompt disclosure of related parties and their transactions to the Lender. 8.9 To sign off receipt of the various notifications sent or delivered by the Lender. 8.10 Shall not dispose of the Borrower’s assets which would reduce the repayment ability of the Borrower; guarantee provided to third party shall not damage the Lender’s rights. 8.11 In case the Loan under this Contract is a credit loan, the Borrower shall completely, truly and accurately report to the Lender all guarantees given, and at the request of the Lender, to execute account supervision agreement. In case guarantee given may affect the execution of responsibilities under this Contract, prior written consent from the Lender must be obtained. 8.12 The Borrower shall bear all expenses relating to the execution and fulfilment of this Contract and all expenses paid or payable by the Lender during the realization of its rights under this Contract, which include but not limited to litigation and arbitration costs, asset safeguarding costs, legal costs, execution costs, valuation costs, auction costs and publication costs. 8.13 The Loan under this Contract is senior to the debt the Borrower owe to its shareholders, and shall have the same seniority to other similar debts of the Borrower.

The Borrower’s Undertakings. 8.1 To drawdown and use the Loan in accordance to the terms and tenure of this Contract, the Loan shall not be used for the purpose of fixed assets, equity, etc. etc investments, and shall not be used in any way in the securities market, futures market or for any other purpose that is prohibited or restricted by relevant laws and regulations. 8.2 To fully repay the principal, interest and other expenses payable in accordance with this Contract. 8.3 To actively cooperate with the Lender to inspect and supervise the usage of the Loan through bank account analysis, voucher inspection, site visit, etc. and to report to the Lender the utilization status of the Loan at the Lender’s request. 8.4 To accept the Lender’s credit inspection, to provide to the Lender financial information including balance sheet and profit and loss account and other documents reflecting the Borrower’s repayment ability at the Lender’s request. To actively assist and cooperate with the Lender in the investigation, understanding and supervision of the operation and financial status of the Borrower. 8.5 Shall not distribute any form of dividends prior to the full repayment of principal, interest and other expenses of the Loan. 8.6 Prior to proposed consolidation, spin-off, capital reduction, change in ownership, material assets and liabilities transfer, material external investment, increase in debt financing and any other actions that may negatively affect the Lender’s rights, the Borrower shall obtain the Lender’s written consent or to provide an arrangement for the realization of the Lender’s right that is satisfied by the Lender. 8.7 In case of occurrence of any one of the following, to notify the Lender immediately: (1a) Change of articles of association, area of business, registered capital, legal representative, address and form of contact; (2b) Out of business, dismissal, liquidation, suspension of business, revocation of business licence, being revoked or applied (or being applied) for bankruptcy; (3c) involvement or potential involvement of material economic dispute, litigation, arbitration, or seizure or retention of assets by laws; (4d) involvement of material case or economic dispute by shareholders, directors or existing senior management; 8.8 Prompt disclosure of related parties and their transactions to the Lender. 8.9 To sign off receipt of the various notifications sent or delivered by the Lender. 8.10 Shall not dispose of the Borrower’s assets which would reduce the repayment ability of the Borrower; guarantee provided to third party shall not damage the Lender’s rights. 8.11 In case the Loan under this Contract is a credit loan, the Borrower shall completely, truly and accurately report to the Lender all guarantees given, and at the request of the Lender, to execute account supervision agreement. In case guarantee given may affect the execution of responsibilities under this Contract, prior written consent from the Lender must be obtained.. Bank of Tieling 8.12 The Borrower shall bear all expenses relating to the execution and fulfilment of this Contract and all expenses paid or payable by the Lender during the realization of its rights under this Contract, which include but not limited to litigation and arbitration costs, asset safeguarding costs, legal costs, execution costs, valuation costs, auction costs and publication costs. 8.13 The Loan under this Contract is senior to the debt the Borrower owe to its shareholders, and shall have the same seniority to other similar debts of the Borrower.

The Borrower’s Undertakings. 8.1 To drawdown and use the Loan in accordance to the terms and tenure of this Contract, the Loan shall not be used for the purpose of fixed assets, equity, etc. investments, and shall not be used in any way in the securities market, futures market or for any other purpose that is prohibited or restricted by relevant laws and regulations. 8.2 To fully repay the principal, interest and other expenses payable in accordance with this Contract. 8.3 To actively cooperate with the Lender to inspect and supervise the usage of the Loan through bank account analysis, voucher inspection, site visit, etc. and to report to the Lender the utilization status of the Loan at the Lender’s request. 8.4 To accept the Lender’s credit inspection, to provide to the Lender financial information including balance sheet and profit and loss account and other documents reflecting the Borrower’s repayment ability at the Lender’s request. To actively assist and cooperate with the Lender in the investigation, understanding and supervision of the operation and financial status of the Borrower. 8.5 Shall not distribute any form of dividends prior to the full repayment of principal, interest and other expenses of the Loan. 8.6 Prior to proposed consolidation, spin-off, capital reduction, change in ownership, material assets and liabilities transfer, material external investment, increase in debt financing and any other actions that may negatively affect the Lender’s rights, the Borrower shall obtain the Lender’s written consent or to provide an arrangement for the realization of the Lender’s right that is satisfied by the Lender. 8.7 In case of occurrence of any one of the following, to notify the Lender immediately: (1) Change of articles of association, area of business, registered capital, legal representative, address and form of contact; (2) Out of business, dismissal, liquidation, suspension of business, revocation of business licence, being revoked or applied (or being applied) for bankruptcy; (3) involvement or potential involvement of material economic dispute, litigation, arbitration, or seizure or retention of assets by laws; (4) involvement of material case or economic dispute by shareholders, directors or existing senior management; 8.8 Prompt disclosure of related parties and their transactions to the Lender. 8.9 To sign off receipt of the various notifications sent or delivered by the Lender. 8.10 Shall not dispose of the Borrower’s assets which would reduce the repayment ability of the Borrower; guarantee provided to third party shall not damage the Lender’s rights. 8.11 In case the Loan under this Contract is a credit loan, the Borrower shall completely, truly and accurately report to the Lender all guarantees given, and at the request of the Lender, to execute account supervision agreement. In case guarantee given may affect the execution of responsibilities under this Contract, prior written consent from the Lender must be obtained. 8.12 The Borrower shall bear all expenses relating to the execution and fulfilment of this Contract and all expenses paid or payable by the Lender during the realization of its rights under this Contract, which include but not limited to litigation and arbitration costs, asset safeguarding costs, legal costs, execution costs, valuation costs, auction costs and publication costs. 8.13 The Loan under this Contract is senior to the debt the Borrower owe to its shareholders, and shall have the same seniority to other similar debts of the Borrower. 8.14 Strengthen environmental and social risk management, and to accept inspection and supervision by the Lender. If requested by the Lender, to submit to the Lender environmental and social risk assessment reports.