Contract
Exhibit 10.2
10.2 Guaranty Contract between Shandong Runyin Biochemical Co., Ltd. and
Bank of Communications, Taian Branch (Bank of Communications), dated on
June 17, 2010 for RMB 5 million Loan
Bank of Communications, Taian Branch (Bank of Communications), dated on
June 17, 2010 for RMB 5 million Loan
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• | Contract No.: 379110A1201000068021 |
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• | Guarantor: Shandong Runyin Biochemical Co., Ltd. |
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• | Guarantee: Bank of Communications, Taian Branch |
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• | As guarantor, Shandong Runyin Biochemical Co., Ltd. undertakes to assume
joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness
towards Bank of Communications under a Loan Agreement with Contract No.:
S379110M120100074328. |
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• | Secured Items: the loan principal, interest, penalty interest, damages,
compensation and all the expenses incurred for Bank of Communications to realize its
creditor’s right under Loan Agreement; |
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• | Guaranty period: |
• | Two years from the expiry date that Shandong Xiangrui Pharmacy Co., Ltd.
should fulfill its obligations in accordance with Loan Agreement; |
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• | If term of Loan Agreement is extended, guaranty period shall be two years
from the expiry date for Shandong Xiangrui Pharmacy Co., Ltd. to fulfill its
obligations according to the extended agreement; |
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• | If due to the provisions of relevant PRC law or regulations or any
agreement reached under Loan Agreement, any loan becomes mature ahead of its
term, guaranty period shall be two years starting from the advance mature
date. |
• | Liabilities of Breach of Contract: Guarantor shall compensate Warrantee any
loss suffered from Shandong Xiangrui Pharmacy Co., Ltd.’s breach of contract. |
• | Headlines of the articles omitted |
• | Commitment of guarantor |
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• | Assumption of guarantor’s responsibility |
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• | Dispute settlement |
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• | Miscellaneous |
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• | Effectiveness |
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• | Validity |
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• | Attention |
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