Guarantee Agreement between Ruixing Group and Bank of East Asia Qingdao Branch, dated on September 6, 2011 for up to RMB 12 million Credit Limit
Exhibit 10.60
Guarantee Agreement between Ruixing Group and Bank of East Asia Qingdao Branch, dated on
September 6, 2011 for up to RMB 12 million Credit Limit
Main Contents
| • | Contract No.: QDAD11049-03 |
| • | Guarantor: Ruixing Group |
| • | Guarantee: Bank of East Asia Qingdao Branch |
| • | As guarantor, Ruixing Group undertakes to assume joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness towards Bank of East Asia Qingdao Branch under a Credit Agreement with Contract No.: QDAD11049 |
| • | Maximum Liability Amount: RMB 12 million |
| • | Secured Items: The loan principal, interest, penalty interest, damages, compensation and all the expenses incurred for Bank of East Asia to realize its creditor’s right under this Loan Agreement; |
| • | Liabilities of Breach of Contract: Guarantor shall compensate Guarantee any loss suffered from Shandong Xiangrui Pharmacy Co., Ltd.’s breach of contract. |
| • | Guaranty period: Three years |
Headlines of the articles omitted
| • | Guaranty period |
| • | Commitment of guarantor |
| • | Assumption of guarantor’s responsibility |
| • | Dispute settlement |
| • | Miscellaneous |
| • | Effectiveness |
| • | Validity |
| • | Attention |
