Guarantee Agreement between Shandong Runyin Bio-Chemical and Rural Cooperative Bank of Dongping for RMB 8.5 Million Loan to Shandong Xiangrui Pharmacy

Contract Categories: Business Finance › Guaranty Agreements
Summary

Shandong Runyin Bio-Chemical agrees to act as guarantor for a loan of RMB 8.5 million provided by the Rural Cooperative Bank of Dongping, Shandong, to Shandong Xiangrui Pharmacy Co., Ltd. Under this agreement, Shandong Runyin Bio-Chemical is responsible for repaying the loan, including principal, interest, penalties, and related costs, if Shandong Xiangrui Pharmacy fails to meet its obligations. The agreement outlines the guarantor's commitments, liability for breach, and dispute resolution terms.

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EX-10.57 5 d314908dex1057.htm EX-10.57 EX-10.57

Exhibit 10.57

Guarantee Agreement between Shandong Runyin Bio-Chemical and Rural Cooperative Bank of Dongping, Shandong,

dated on December 5, 2011 for RMB 8.5 million Loan

Main Contents

 

  • Contract No.: Shandong Dongping Nongcun Hezuo Yinhang Bao Zi (2011) No. 0171

 

  • Guarantor: Shandong Runyin Bio-Chemical

 

  • Guarantee: Rural Cooperative Bank of Dongping, Shandong

 

  • As guarantor, Shandong Runyin Bio-Chemical undertakes to assume joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness towards Rural Cooperative Bank of Dongping, Shandong under a Loan Agreement with Contract No.: Shandong Dongping Nongcun Hezuo Yinhang Liu Jie Zi (2011 No. 0171).

 

  • Secured Items: the loan principal, interest, penalty interest, damages, compensation and all the expenses incurred for Bank of Communications to realize its creditor’s right under Loan Agreement;

 

  • Liabilities of Breach of Contract: Guarantor shall compensate Warrantee any loss suffered from Shandong Xiangrui Pharmacy Co., Ltd.’s breach of contract.

Headlines of the articles omitted

 

  • Guaranty period

 

  • Commitment of guarantor

 

  • Assumption of guarantor’s responsibility

 

  • Dispute settlement

 

  • Miscellaneous

 

  • Effectiveness

 

  • Validity

 

  • Attention