Exhibit 10.33
(Summary Translation)
LAND USE RIGHT TRANSFER AGREEMENT
This Agreement is made by and between Jiangxi Liouxin Industry Co., Ltd.
(hereinafter referred to as "Party A") and Jiangxi LDK Solar Hi-Tech Co., Ltd.
(hereinafter referred to as "Party B") in accordance with the Interim
Regulations of the People's Republic of China on Grant and Assignment of the Use
Right of State-Owned Urban Land and other relevant State and local rules and
regulations and based on the principles of equality, voluntariness and mutual
consent.
Subject to the terms and conditions set forth herein, the parties agree as
follows:
1. Party A agrees to transfer to Party B the right to use that certain parcel
of land herein specified (hereinafter referred to as the "Land") as the
right to own the Land belongs to the PRC State. The scope of transferred
land use right does not extend to underground resources, embedded objects
and public facilities thereon or thereunder, which constitutes an integral
part of the ownership right of the PRC State.
2. Party A agrees to transfer to Party B the Land located at west to Zongwu
Road and north to Hi-tech Road in the Xinyu Hi-Tech Development Zone of
Jiangxi Province with land registration numbers of GX06-1 and GX06-6 with
an aggregate site area of 65,491.81 square meters. The attached map
illustrates the location, land coverage and detailed information of the
Land as confirmed by both parties. Upon the transfer of the use right to
the Land from Party A to Party B, the rights and obligations of the
original assignee, i.e., Party A, under the "Contract for Assignment of the
Use Right to State-Owned Land" (hereinafter referred to as the "Original
Assignment Contract") shall be transferred to Party B.
3. The term of the land use right transferred hereunder shall be from April 1,
2006 to May 20, 2055. Both parties acknowledge that, except that Party A
has not transferred the registered name of the land use right holder to
that of Party B, Party A has fulfilled its obligation to deliver the Land
to Party B for its uses under this Agreement.
4. Party A undertakes to Party B that Party A shall provide electricity,
water, drainage and sewage in conformance with the pre-approved plan as
marked on the attached map. Party B shall bear the costs and expenses
incurred in the installation of the electric circuits pursuant to the
relevant government regulations.
5. Party B agrees to pay the premium for the transfer of the land use right
(hereinafter referred to as the "Premium") to Party A in accordance with
this Agreement. The Premium shall be determined based on the valuation
price assessed by the land valuation firm selected by both parties, and the
amount of the Premium shall be fixed in the Land Transfer Premium Payment
Agreement executed by both parties.
6. (1) The method of the Premium payment by Party B to Party A for the
transfer of the land use right shall be in compliance with the Land
Transfer Premium Payment Agreement
executed by both parties. (2) If Party B fails to pay any amount of the
Premium due according to the payment schedule, Party B shall pay damages
calculated at 0.01% of the outstanding amount owed per day from the due
date of such outstanding amount. It shall be deemed a severe breach of
contract if Party B fails to pay the total amount of the Premiums within 30
days after the due date of the Premiums as agreed by the parties, and Party
A shall have the right to terminate the contract and to demand Party B for
payment of damages calculated at 20% of the total amount of the Premiums.
7. Party B shall pay the Premiums for the transfer of the land use right in
Renminbi.
8. Within 20 days after Party B has paid the total amount of the Premium,
Party A shall assist Party B in applying for the change in the name of land
use right holder, completing the relevant registration process and
obtaining a "People's Republic of China Land Use Right Certificate" with
respect to the Land. Party B shall pay the fees and expenses associated
with the land use right transfer registration.
9. If the term of the use rights to the Land transferred hereunder
(hereinafter referred to as the "Term of Use") is to expire under the
Original Assignment Contract, should Party B need to continue to use the
Land, it should file a land use right renewal petition with the government
within six months prior to the expiration of the Term of Use. If Party B
fails to file such a petition, upon the expiration of the Term of Use, the
land use right, together with the rights to the buildings and other
improvements thereon shall be revert to the PRC State without compensation.
Party B shall then be required to surrender its land use right certificate
and complete the registration process for the termination of the land use
right in accordance with the relevant regulations.
10. During the Term of Use, Party B shall be subject to the monitor and review,
with respect to the Land, its development, use, transfer, lease, pledge and
cancellation thereof, by the government land administration department
according to law.
11. Should Party B fail to obtain the land use right in six months from the
date of this Agreement as a result of a default of Party A, Party A shall
pay Party B damages calculated at 20% of the amount of the Premiums paid by
Party B.
12. This Agreement including its execution, validity, interpretation,
performance and dispute resolution shall be governed by the laws of the
People's Republic of China.
13. The parties shall resolve all disputes arising from or in connection with
this Agreement through negotiation or consultation. In the event that the
parties cannot reach an agreement to resolve such a dispute or enter into a
written arbitration agreement, either party may submit the case to the
people's court having jurisdiction over the matter.
14. This Agreement shall become effective upon signing by the respective
authorized representatives, fixing hereunto of corporate chops by the
respective parties and approval by the relevant government authority
according to law. The parties shall abide by the relevant government
regulations with respect to the land transfer registration process and the
payment of handling fees associated with such transfer registration.
15. This Agreement is made in six original copies, and each party shall keep
two copies hereof, with two copies deposited with the relevant government
department.
16. The parties may enter into supplemental agreements to govern other related
matters not explicitly provided herein. Such supplements shall have the
same binding effect as this Agreement and constitute an integral part of
this Agreement.
PARTY A
/s/ Xxxx Xxxx
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Jiangxi Liouxin Industry Co., Ltd. (sealed)
PARTY B
/s/ Xxxxxxxx Xxxx
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Jiangxi LDK Solar Hi-Tech Co., Ltd. (sealed)
Date: May 15, 2006
