Maximum Debt Guarantee Contract (English summary), dated March 12, 2009, by and among Great Shengda, SD Group and Xiaoshan Branch of Bank of China
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. |
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| Term | Two years after the expiration of the term of the relevant indebtedness |
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| 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. | |
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| Dispute Resolution | PRC court where Lender locates |
