Maximum Debt Guarantee Contract (English Summary)
Exhibit 10.28
Maximum Debt Guarantee Contract
(English Summary)
| Date of Signing | Dec 30, 2009 |
|
| |
| Contract No |
33905200900065944 |
|
| |
| Parties to Contract |
SD Group as Guarantor and Xiaoshan Agricultural Bank of China as Lender |
|
| |
| Guarantee |
Hangzhou Shengming |
|
| |
| Guaranteed Maximum |
RMB 30,000,000 million |
| Amount |
|
|
| |
| Guaranteed loan |
any indebtedness incurred by Hangzhou Shengming to Lender during the term of Dec 30, 2009 and Dec 22, 2010 |
|
| |
| Guaranteed Scope |
The principal, interests, penalty interests, compound interest; liquidated damage, damage, litigation cost and attorney fee rising from any the realization of the debt of the relevant indebtedness. |
|
| |
| Term |
Two years after the expiration of the term of the relevant indebtedness |
|
| |
| Undertakings |
We list below some material undertakings: |
|
Guarantor must give 15 day prior written notice to Xxxxxx and obtain Xxxxxx’s prior written consent when: | |
|
- Guarantor alters its capital structure or business mode, or | |
|
- Guarantor provides guarantee to any third party or create encumbrance over its assets or equity for itself or any third party in a manner that may affect its performance under this contract. | |
|
| |
| Dispute Resolution |
PRC court where Xxxxxx locates |
