Guaranty Contract between Shandong Runyin Biochemical Co., Ltd. and Bank of Communications, Taian Branch (August 23, 2011)

Contract Categories: Business Finance › Guaranty Agreements
Summary

Shandong Runyin Biochemical Co., Ltd. agrees to act as guarantor for a loan of RMB 5 million provided by Bank of Communications, Taian Branch, to Shandong Xiangrui Pharmacy Co., Ltd. Under this agreement, Runyin Biochemical is responsible for repaying the loan, including interest and related costs, if Xiangrui Pharmacy fails to meet its obligations. The guaranty lasts for two years after the loan's due date, with adjustments if the loan term changes. If Xiangrui Pharmacy breaches the contract, Runyin Biochemical must cover any resulting losses for the bank.

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EX-10.46 10 c22033exv10w46.htm EXHIBIT 10.46 Exhibit 10.46
Exhibit 10.46
10.46 Guaranty Contract between Runyin Biochemical and Bank of
Communications, Taian Branch, dated on August 23, 2011 for RMB 5 million
[English Translation of Summary]
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Main Contents
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Contract No.: 379110A2201100184860
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Guarantor: Shandong Runyin Biochemical Co., Ltd.
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Guarantee: Bank of Communications, Taian Branch
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As guarantor, Shandong Runyin Biochemical Co., Ltd. undertakes to assume joint and several liabilities for Shandong Xiangrui Pharmacy Co., Ltd.’s indebtedness towards Bank of Communications under a Loan Agreement with Contract No.: S379110M120110186785.
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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;
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Guaranty period:
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Two years from the expiry date that Shandong Xiangrui Pharmacy Co., Ltd. should fulfill its obligations in accordance with Loan Agreement;
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If term of Loan Agreement is extended, guaranty period shall be two years from the expiry date for Shandong Xiangrui Pharmacy Co., Ltd. to fulfill its obligations according to the extended agreement;
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If due to the provisions of relevant PRC law or regulations or any agreement reached under Loan Agreement, any loan becomes mature ahead of its term, guaranty period shall be two years starting from the advance mature date.
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Liabilities of Breach of Contract: Guarantor shall compensate Warrantee any loss suffered from Shandong Xiangrui Pharmacy Co., Ltd.’s breach of contract.
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Headlines of the articles omitted
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Commitment of guarantor
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Assumption of guarantor’s responsibility
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Dispute settlement
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Miscellaneous
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Effectiveness
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Validity
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Attention