Maximum Debt Guarantee Contract dated September 16, 2010

Contract Categories: Business Finance - Guarantee Agreements
EX-10.2 3 exhibit10-2.htm EXHIBIT 10.2 China Shengda Packaging Group Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

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