Exhibit 10.30
Summary
Translation
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Guaranty Contract of Maximum Amount Guarantee Signed by and between the Company
and Shenzhen Commercial Bank (the "Commercial Bank") dated as of March 17, 2005
>> Contract No: Xxxx Xxxxx Xxx (Gaoxin) Xxxxxxx Xxxxx (2005) No.004-2;
>> As guarantor, the Company undertakes to assume joint and several
responsibilities to secure the indebtedness of Shenzhen Tongli towards
Commercial Bank under the Comprehensive Agreement.
>> Guaranty Period: from the signing date of Comprehensive Agreement to the
expiry date of two years commencing from maturity of the last matured loan
borrowed under Comprehensive Agreement;
>> Items secured include loan principal and related interest, penalty
interest, breach of contract compensation and expenses under Comprehensive
Agreement;
>> Maximum amount secured for loan principal under Comprehensive Agreement is
RMB 4.2 Million Yuan
>> Other Terms:
|X| The guarantor shall take joint and several responsibilities for
Shenzhen Tongli's indebtedness towards the Commercial Bank under
Comprehensive Agreement;
|X| Amendment or changes made to Comprehensive Agreement (except for
increase of credit amount) does not need to be approved by the
guarantor and the Guaranty Contract shall remain to be effective and
binding upon the guarantor;
|X| Guaranty Contract is irrevocable and independently effective.
Terms that have been omitted: indebtedness to be secured and maximum amount;
commitment of the guarantor; liability; dispute settlement; miscellaneous;
effectiveness; validity; and attention.
