Exhibit 4.39
(Summary Translation)
Guarantee Agreement
This Agreement is made by and between Suzhou Liu Xing Industrial Co., Ltd
(hereinafter referred to as "Party A"), China Construction Bank Corporation
Xxxxx xxxxxx (hereinafter referred to as "Party B").
WHEREAS,
1, Jiangxi LDK Solar Hi-Tech Co., Ltd. (hereinafter referred to as "Jiangxi
LDK") and Party B entered into a loan agreement (hereinafter referred to as the
"Loan Agreement") made between March 20, 2006 and March 20, 2009, pursuant to
which Party B undertook to lend to Jiangxi LDK loans; and
2, Party A has agreed to guarantee the obligations of Jiangxi LDK to perform the
Loan Agreement.
NOW, THEREFORE, Party A and Party B, subject to the terms and conditions set
forth herein, agree as follows:
1, The Guarantors agree to provide guarantees for the performance of obligations
by Jiangxi LDK under the Loan Agreement and be jointly and severally liable for
repayment of the Loan up to Xxx 00 million in the event of a default by Jiangxi
LDK in accordance with the Loan Agreement.
2, Party A has agreed to guarantee the obligations of Jiangxi LDK to perform the
Loan Agreement and be jointly and severally liable for repayment of the Loan. In
event Jiangxi LDK does not repay debts or partially repay debts, Party B is
entitled to demand remedies from Party A directly. In event jiangxi LDK does not
fulfill debts in accordance with the Loan Agreement, Party B is entitled to
demand remedies from Party A directly no matter whether Party B is responsible
for any other guarantee obligations under the Loan Agreement.
3, The Scope of the Guarantee hereunder shall include the principal amounts
outstanding of Xxx 0 xxxxxxx, xxxx interests accrued, damages caused and
expenses associated with the realization of Party B's rights under the Loan
Agreement.
4, The term of the guarantee : From the date of this agreement to two years
after the expiry of each performance period by Jiangxi LDK under the Loan
Agreement.
5, In event of Party B and Jiangxi LDK have reached any agreement of extending
period on each repayment, the debts between the term of the guarantee and
extending period shall be until two years after the due date of each
fulfillment.
6, Clauses of amount, due time, interest rate and way to distribute funds shall
be established by Party B and Jiangxi LDK under the Loan Agreement. In event of
Party B and Jiangxi LDK sign the Loan Agreement or make any changes on the Loan
Agreement, Party A's later confirmation can make the activity legitimate while
its guarantee obligation remains the same. The interest rate shall be variable
in accordance with the Loan Agreement without any consent of Party A while Party
A remains its guarantee obligation.
7, The effect of this Agreement is independent from Loan Agreement.
8, The parties shall resolve all disputes arising from or in connection with
this Agreement through consultation. If the parties cannot reach an agreement
through such consultations, either party is entitled to submit the disputes to
the people's court where Party B resides.
9, This Agreement shall become effective upon the signing by the legal
representatives or authorized representatives of the respective parties and
fixing hereunto the respective corporate seal.
10, This Agreement is made in 3 original copies, and each party shall keep one
copy hereof.
Party A: (seal)
Legal representative (responsible person) or authorized representative
(signature)
Date: March 20, 2006
Party B (seal)
Responsible person or authorized representative (signature)
Date: March 20, 2006
