Maximum Debt Guarantee Contract between SD Group and Xiaoshan Agricultural Bank of China for Great Shengda

Contract Categories: Business Finance › Guaranty Agreements
Summary

SD Group agrees to act as guarantor for Great Shengda's debts to Xiaoshan Agricultural Bank of China, covering up to RMB 75 million for obligations incurred between March 12, 2009, and March 12, 2010, including a specific commercial bill contract. The guarantee covers principal, interest, penalties, and related costs. The guarantee remains effective 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 PRC court where the lender is located.

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EX-10.26 30 exhibit10-26.htm EXHIBIT 10.26 China Packaging Technologies, Inc. - Exhibit 10.26 - Filed by newsfilecorp.com

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.

 

 

Term

                   Two years after the expiration 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