Maximum Debt Guarantee Contract (English Summary)
Exhibit 10.26
Maximum Debt Guarantee Contract
(English Summary)
Date of Signing | March 12, 2009 |
Contract No | 33905200900000966 |
Parties to Contract | SD Group as Guarantor and Xiaoshan Agricultural Bank of China as Lender |
Guarantee | Great Shengda |
Guaranteed Maximum | RMB 75,000,000 million |
Amount | |
Guaranteed Indebtedness | 1 any indebtedness incurred by GREAT SHENGDA to Lender during the term of March 12, 2009 and March 12, 2010 |
2 the Banker’s Acceptance of Commercial Bills Contract (商业汇票银行承兑合同,No 33201200800045814) between GREAT SHENGDA and Lender for principal of RMB 7 million |
Guaranteed Scope |
The principal, interests, penalty interests, compound interest; liquidated damage, damage, litigation cost and attorney fee arising from the realization of the debt of the relevant indebtedness. |
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Term |
Two years after the expiration of the term of the relevant indebtedness |
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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. | |
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Dispute Resolution |
PRC court where Xxxxxx locates |