Maximum Debt Guarantee Contract between SD Group and Xiaoshan Agriculture Bank of China
SD Group agrees to act as guarantor for Great Shengda's debts to Xiaoshan Agriculture Bank of China, covering up to RMB 75,000,000 for any debts incurred between September 16, 2010, and March 16, 2011. The guarantee includes principal, interest, penalties, and legal costs, and remains valid for two years after the debt term ends. SD Group must notify and get consent from the bank before making significant business changes or providing other guarantees. Disputes will be resolved in a court where the lender is located.
Exhibit 10.2
Maximum Debt Guarantee Contract
(English Summary)
| Date of Signing | Sep 16, 2010 |
| Contract No | 33905201000007036 |
| Parties to Contract | SD Group as Guarantor and Xiaoshan Agriculture Bank of China as Lender |
| Guarantee | Great Shengda |
| Guaranteed Maximum Amount | RMB 75,000,000 million |
| Guaranteed Indebtedness | Any indebtedness incurred by Great Shengda to Lender during the term of Sep 16, 2010 and March 16, 2011 |
| 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. |
| Term | Two years after the expiry of the term of the relevant indebtedness |
| Undertakings | We list below some material undertakings: Guarantor must give 15 day prior written notice to Lender and obtain Lender’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. | |
| Dispute Resolution | PRC court where Lender locates |
