Attached files
| file | filename |
|---|---|
| 10-K - Shengkai Innovations, Inc. | v197555_10k.htm |
| EX-21.1 - Shengkai Innovations, Inc. | v197555_ex21-1.htm |
| EX-23.1 - Shengkai Innovations, Inc. | v197555_ex23-1.htm |
| EX-23.2 - Shengkai Innovations, Inc. | v197555_ex23-2.htm |
| EX-31.1 - Shengkai Innovations, Inc. | v197555_ex31-1.htm |
| EX-32.2 - Shengkai Innovations, Inc. | v197555_ex32-2.htm |
| EX-31.2 - Shengkai Innovations, Inc. | v197555_ex31-2.htm |
| EX-32.1 - Shengkai Innovations, Inc. | v197555_ex32-1.htm |
| EX-10.25 - Shengkai Innovations, Inc. | v197555_ex10-25.htm |
| EX-10.24 - Shengkai Innovations, Inc. | v197555_ex10-24.htm |
| EX-10.27 - Shengkai Innovations, Inc. | v197555_ex10-27.htm |
| EX-10.28 - Shengkai Innovations, Inc. | v197555_ex10-28.htm |
Exhibit
10.26
Declaration
of Personal Guarantee
[Unofficial
Translation]
|
No.
Xingjin (Declaration) 20091890-2
|
To:
Industrial Bank Co., Ltd., Tianjin Branch
In view of the fact that Industrial
Bank Co., Ltd., Tianjin Branch (the “Bank”) and Tianjin Shengkai Industrial
Technology Development Co., Ltd. (the “Guarantee”) entered into a loan agreement
(No. XingjinShouxin 220092540) (the “Principal Contract”) in an amount of RMB
15,000,000 on November _, 2009, I (the “Guarantor”) voluntarily guarantee that
the Guarantee will fulfill its contractual obligations. Hereby I make the
following guarantee declaration:
|
1.
|
The
guarantee covers: the principal under the Principal Contract, its
interests, penalty interests, compound interests, penalties, damages and
the costs in connection with the collection of the loan payment (the costs
include but not limited to: litigation expense, arbitration expense,
property preservation expense, enforcement application fee, attorney fee,
advertising fee, assessment fee, appraisal fee, auction fee, travelling
expense, telecommunication fee, and the Guarantee shall pay back other
loans with the Bank.)
|
|
2.
|
The
Guarantor is jointly and severally liable. The Guarantor will
unconditionally fulfill the Guarantee’s contractual obligations when the
Guarantee fails to pay back the loan for any
reason.
|
|
3.
|
Guarantee
Period.
|
|
3.1.
|
It
lasts for two years from the date when the principal loan becomes
payable.
|
|
3.2.
|
For
bank acceptance draft, letter of credit and guarantee, the period covers
two years from the date when the Bank makes advances. If the Bank makes
advances several advances, it covers two years from the dates of each
individual advance.
|
|
3.3.
|
For
discounted commercial bills, the period covers two years from the date
when the payment of the discounted commercial bill is
due.
|
|
3.4.
|
If
the Bank accelerates the loan payment or the loan becomes payable earlier
as prescribed by laws and regulations, the guarantee period is two years
from the date when the loan becomes
payable.
|
|
3.5.
|
If
the loan is paid back in installments, the guarantee period is calculated
separately. The Guarantor is liable within two years after the date when
each payment becomes payable.
|
|
3.6.
|
If
the Bank and the Guarantee agree to an extension of the payment of loan,
the Guarantor’s guarantee obligations continue. The guarantee period is
two years from the date when the extended loan is
due.
|
|
4.
|
No
approval from the Guarantor is required when the Bank and the Guarantee
modifies or add the terms of the Principal Contract. The obligations under
the Declaration remain unchanged.
|
|
5.
|
The
breach of the Principal Contract by the Guarantor will not affect the
Guarantor’s obligations under this guarantee. The Guarantor may not
request to reduce or waive his obligations based on the
breach.
|
|
6.
|
The
Guarantor will fulfill his obligations under the guarantee using all of
his personal assets and income and guarantee that these assets will not be
sold or transferred to anyone for any
reason.
|
|
7.
|
This
guarantee is valid independently from the Principal Contract and will not
be affected by the performance of the Principal Contract. The Guarantor
will be jointly and severally liable whether the Principal Contract is
valid or not. This guarantee is
irrevocable.
|
|
8.
|
The
Guarantor’s signing, enforcement and any other activities in connection
with this declaration, are civil actions. The Guarantor will not dispute
or defend any jurisdictions, trials or enforcement for any
reason.
|
|
9.
|
This
declaration is effective upon signing by the
Guarantor.
|
|
10.
|
The
laws of the People’s Republic of China shall govern the signing, effect,
interpretation, enforcement and dispute resolution of this
guarantee.
|
The Bank
and the Guarantor shall resolve all the disputes in connection with this
declaration via negotiation. Either party may commence a lawsuit in the local
People’s Court.
|
11.
|
The
Guarantor requires: any notice, payment request, or communication shall be
made to the Guarantor through the following methods by the
Bank:
|
Zip
code:
Mailing
Address:
Telex:
Fax:
The
Guarantor shall immediately notify the Bank if there is any change to the above
contact information. Otherwise, the Guarantor will be liable for the
consequence.
The
Guarantor admits that any notice, payment request, or communication made through
the above methods is regarded delivered within the following dates:
|
|
i.
|
Mail:
five business days after registered mail is
sent
|
|
|
ii.
|
Telex:
the date when the counterparty confirms return
number
|
|
|
iii.
|
Fax:
the date when fax is sent
|
|
|
iv.
|
Personal
Delivery: the date the recipient
signs
|
|
12.
|
Other
clauses:
|
National
ID (Passport)No. of the Guarantor: __________________________
Guarantor
(signature): /s/ Wang
Chen
Dated:
November 5, 2009