Guarantee Agreement between Ruixing Group and China Everbright Bank Qingdao Jiaozhou Branch, dated on October 18, 2011 for up to RMB 40 million Credit Limit
Exhibit 10.61
Guarantee Agreement between Ruixing Group and China Everbright Bank Qingdao Jiaozhou Branch, dated on October 18, 2011 for up to RMB 40 million Credit Limit
Main Contents
| • | Contract No.: Guan Yin Jiao Bao Zi ###-###-#### |
| • | Guarantor: Ruixing Group |
| • | Guarantee: China Everbright Bank Qingdao Jiaozhou Branch |
| • | Term: As guarantor, Ruixing Group undertakes to assume joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness towards China Everbright Bank Qingdao Jiaozhou Branch under a Credit Agreement with Contract No.: Guan Yin Jiao Bao Zi ###-###-#### |
| • | Maximum Liability Amount: RMB 40 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: One year |
Headlines of the articles omitted
| • | Guaranty period |
| • | Commitment of guarantor |
| • | Assumption of guarantor’s responsibility |
| • | Dispute settlement |
| • | Miscellaneous |
| • | Effectiveness |
| • | Validity |
| • | Attention |
