Attached files
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| 8-K/A - ZAPNAPS, INC. | v209446_8ka.htm |
Exhibit
10.15
(English
Translation)
Cover
Index
ZXED2010090230046862
SPD
BANK
Financing
Facility Agreement
SHANGHAI
PUDONG DEVELOPMENT BANK
--------------------------------------------------------PAGE
ONE----------------------------------------------------------
Financing
Facility Agreement
Company: Dalian
Heavy Mining Equipment Manufacturing Co., Ltd. (hereafter
“Client”)
Bank: Shanghai
Pudong Development Bank Co, Ltd, Dalian Branch (hereafter
“Bank “)
Based on the principles of equality and
mutual benefit, the parties to this Agreement have followed the relevant laws
and regulations and have undergone a friendly negotiation. On the basis of their
equal positions and willingness, the parties to this Agreement hereby entered
into an Agreement according to the following provisions:
Part
I General
Terms and Conditions
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1.
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Agreement.
Any
documents entered into and signed by and between the Client and Bank,
including the covenant to change the amount of the loan (see “Appendix
I”) and the other financing covenants are parts of this
Agreement and shall be read in whole with this
Agreement.
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2.
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Credit Facility.
For
the purposes of this Agreement, the term of the credit facility refers to
any term indicated in the Credit Facility Schedule (Part II of this
Agreement) or any other valid agreement to change the credit facility,
whichever is the latter. Client shall submit its proposed
credit facility within the timeframe set forth by such term to the
Bank. If any submission of such proposal exceeds the term of
the credit facility, whether or not the facility is exhausted, Bank shall
have the right to deny.
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Client
shall pay the commitment fee in accordance with the rate schedule and manner set
forth by the Credit Facility Schedule based on the approved credit
facilities.
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3.
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Change of Credit
Facility. If there is any provision inconsistent with the Credit
Facility Schedule (including any change to such schedule by agreement by
and between the Client and Bank to change the credit facility from time to
time), the latter shall prevail. If any financing covenants
signed by the Client and Bank within the credit facility is inconsistent
with this Agreement, for any business or affair covered by such document,
this covenant shall prevail.
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Regardless
of the aforementioned provision, the Bank shall have the right to terminate the
disbursement or declare the early maturity of the credit facility under any
subsidiary financing documents, provided that it is necessary to secure the
debt, at its own discretion. In the event of early maturity, the
Client shall immediately repay the disbursed amount; in the event of the
issuance of letter of credit, performance bond, draft pursuant to application,
the Client shall fill the margin to 100%.
Page 1 of
11 Pages
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4.
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Finance.
According
to this Agreement or any subsidiary covenant, within the maximum approved
amount of loan and its term, the Client shall be able to apply for and the
Bank shall (but is not obligated to) make a loan to the Client by
providing a Line of Credit (generally named as “Financing” in this
Agreement). The forms of Financing include: short-term loan, discount note
(including agreed interest payment), note endorsement (Client as drawer
and payer), factoring agreement, export L/C (including domestic letter of
credit), import L/C, packing loan, documentary collection, opening of L/C
(including Use L/C payable at sight and domestic L/C), issuance of
performance bond (including standby) and issuance of bank
draft. The applicable financing form depends on the specifics
set forth by the Table of Loan
Amount.
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5.
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Subsidiary
Covenant. For
the purposes of this Agreement, the subsidiary covenant refers to any of
the following documents signed by Client
:
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1)
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In
respect of short term loan, the cash flow loan agreement or any other
document possibly signed by Client;
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2)
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In
respect of discount note, the discount note agreement or any other
document possibly signed by Client;
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3)
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In
respect of note endorsement, the note endorsement agreement or any other
document possibly signed by Client;
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4)
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In
respect of factoring financing, the factoring financing agreement or any
other document possibly signed by
Client;
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5)
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In
respect of export L/C (including domestic L/C), documentary collection,
the export L/C, documentary collection agreement or any other document
possibly signed by Client;
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6)
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In
respect of import L/C, the import L/C agreement or any other document
possibly signed by Client;
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7)
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In
respect of packing loan, the packing loan agreement or any other document
possibly signed by Client;
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8)
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In
respect of opening of L/C, the L/C opening agreement or any other document
possibly signed by Client;
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9)
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In
respect of issuance of Guarantee or Standby Letter of Credit, the
Guarantee or standby letter of credit issuance
agreement;
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10)
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In
respect of bank draft, the bank draft agreement or any other document
possibly signed by Client.
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The
credit facility is revocable at any time prior to Bank’s agreement to disburse
any loan to Client according to this Agreement and the conditions enacted in
subsidiary covenants or Bank’s announcement of its commitment. On the
other side, the Client shall not revoke or amend any agreement signed by it or
any proposed financing application/agreement, otherwise, the Client shall be
held liable for any cost, expense or loss of Bank caused by the Client’s such
revocation or amendment.
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6.
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Submission of
Documents. Client
promises to submit the following documents or to satisfy the relevant
conditions prior to the signature of this Agreement or at the request of
Bank. However, Bank has no duty to authenticate those
documents;
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1)
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Copy
of Client’s latest article of association or business
license;
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2)
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Board
decision authorizing Client to sign this Agreement or relevant subsidiary
financing documents (if article of association places limits on the legal
representative’s authority to
sign);
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3)
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Sample
of Client’s authorization signed by authorized agent or
representative;
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4)
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All
other subsidiary financing documents signed by the Client pursuant to the
requirement of Bank;
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Page 2 of
11 Pages
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5)
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The
designated date of disbursement by Client or the requirement that the
opening date of L/C, Guarantee, bank draft by Bank is within the Bank’s
business day;
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6)
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All
other documents or conditions required by Bank from time to
time.
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7.
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Occupied Credit
Facility. Refers
to the total amount of disbursed financing facilities under this Agreement
or the subsidiary covenants to the Client but not yet repaid plus the
announced commitment as per request of Client. It shall not
include the Client’s or its guarantor’s collateral in the form of cash
(including guarantees and the etc.) and paid to the Bank,
unless otherwise agreed.
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8.
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Revolving Facility.
To
revolving financing facilities, upon the Client’s performance of its
duties under this Agreement or the ancillary financing documents
(including repayment of the relevant financing facilities, fulfillment of
100% margin, discharge of Bank’s disbursement obligation and so on), the
amount of the occupied financing facilities being performed will be
recovered and the Client can continue to apply for financing facilities
under this Agreement. Once the non-revolving financing facilities are
occupied, it shall not be recycled unless agreed by the Bank. Unless
otherwise agreed, the Bank shall have right to review the profile of
Client or the collateral annually. Once the review is
satisfied, the Client shall continue to use the financing facilities,
otherwise, the Bank shall have right to cancel the financing facilities
starting from the next fiscal year. Under such circumstance, except for
the valid ancillary financing documents, the unused and the to-be-returned
financing facilities is prohibited from being
used.
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9.
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Guarantee.
If
the credit facility under this Agreement is guaranteed, the precedent
condition for Client’s application is such guarantee document shall be
signed and take effect. If the credit facility schedule sets
forth requirements to the ratio of margin for the issuance of L/C,
Guarantee/Standby Letter of Credit, Bank draft, the precedent condition
for Client is the full payment to such ratio of margin. If
Client applies for the change of the credit facility and results in the
increase of maximum credit facility, the Client shall increase the
guarantee or encourage the guarantor to affirm the change and increase the
guarantee.
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10.
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Tax. Unless
the client is required to deduct any tax from repayment under the law; the
client shall repay in the full amount under this Agreement and shall not
make any deduction. If Client must deduct relevant tax by the
law, the client shall present the proof of tax within fifteen (15) days of
deduction. In the meanwhile, the Client shall submit extra payment to Bank
so that the total payment received by the Bank is equal to the amount not
being deducted.
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11.
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Declaration and
Warranty. Client
hereby announces the following declaration and warranty, which is deemed
to be announced repetitively by the Client at each time of Bank’s
disbursement under this Agreement or its ancillary financing
documents.
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1)
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Client
is a corporation registered and established pursuant to the law of China
(excluding Hongkong, Macro and Taiwan, the same as below). It is
authorized to sign this Agreement and any other document relevant to this
Agreement. It has adopted any necessary corporate action to legalize,
validate and enforce this Agreement and any other relevant
documents.
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Page 3 of
11 pages
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2)
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Client’s
execution and performance of this Agreement does not and will not
contradict with any other agreement, document, and article of association,
any applicable law, regulation or administrative rule, any document of
relevant authority, judgment and decision. The Agreement also
does not contradict with any other duties or arrangements made by the
Client.
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3)
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Client
and its shareholder and subsidiary corporation have not been placed in any
proceeding of wind-up, bankruptcy, rehabilitation, merger and acquisition,
division, restructuring, dissolution, insolvency, suspension or any other
similar legal proceeding, nor are they in any circumstances that would
result in the application of such
proceeding.
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4)
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Client
is not involved in any economic, civil, criminal, administrative or
arbitrative proceeding which might cause significant negative effect on
it, nor is it involved in any circumstances which might result in the
engagement in such proceeding or arbitration
procedure.
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5)
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None
of the major assets of client’s legal representative, director,
superintendent other senior managers and its clients is under any kind of
enforced execution, forfeiture, custody, freeze, lien or temporary
receiver, nor does any of them get involved in any circumstance giving
arise to such measurement.
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6)
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Any
financial documents (if any) submitted by the Client are in compliance
with the law of China. They are truly, completely and fairly reflecting
the financial situation of Client. Any material, document,
information provided by the Client during its execution and performance of
this Agreement and regarding itself and the guarantor are true, effective,
accurate and complete without any concealment or
omission;
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7)
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Any
business of the Client is strictly complies with the applicable laws and
regulations. Client shall operate its business strictly
conforming to its business license or within the scope of business under
the law and shall complete the annual registration procedure in a timely
fashion.
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8)
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Client
guarantees the non-existence of any situation or affair which would give
arise to any significant negative effect on its performing
capacity.
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12.
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Commitment.
Client
hereby makes the following
commitments:
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1)
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Client
shall strictly comply with and perform its duties under this Agreement or
any ancillary financing agreement.
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2)
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Unless
otherwise agreed, Client shall repay the loan or advance in a timely
fashion according to this Agreement or the ancillary financing documents
or fulfill 100% of the margin as required by the Bank. Client
shall complete and obtain any
approval, authorization, registration or permission as required
by the applicable law and regulations and shall maintain their validity in
order to properly sign and perform this Agreement and any other
relevant documents. Upon the Bank’s request, Client shall provide the
proof of such document.
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3)
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Immediately
within five business days of knowledge about its involvement in any
significant negative economic, civil, criminal or administrative
litigation proceeding or similar arbitrative procedure, or five business
days of knowledge about any enforced execution, forfeiture, custody,
freeze, lien or temporary receiver of its major assets, the Client shall
notify the Bank in a writing to provide a detailed explanation of the
effect and remedy adopted or planned to be
adopted.
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4)
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Unless
agreed by the Bank in writing, Client shall not attempt to clear any debt
with a large amount owed to a third party other than the Bank, nor shall
it attempt to perform any duty of suretyship to
such.
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5)
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Unless
agreed by the Bank in writing, Client shall not cause any large amount of
liability or be liable, or attempt to provide security with priority in
any form or place any lien for either its own or any third party’s
debt;
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Page 4 of
11 pages
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6)
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Starting
from signatory date of this Agreement, before the full repayment of this
Agreement or the ancillary financing document and unless agreed by the
Bank, Client shall not
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i.
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Proceed
to wind-up, rehabilitation, bankruptcy, merger or acquisition, division,
restructuring, dissolution, insolvency or suspension of business or any
similar legal proceeding.
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ii.
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Unless
necessary for the regular operation, sell, rent, give, transfer or depose
of its major assets in any other
way.
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iii.
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Change
the structure of shares.
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iv.
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Sign
any agreement or contract or make an agreement which shall significantly
affect Client’s capacity to perform this Agreement or commit to perform
the same.
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7)
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Whenever
any particular circumstance or change occurs to the guarantee under this
Agreement, the Client shall timely provide other guarantee required and
acceptable by the Bank. Such particular circumstance or change include but
are not limited to the guarantor’s end of business, insolvency,
dissolution, suspension, revocation of business license, application or
applying for restructuring and bankruptcy, significant change
in its operation or financial situation, engagement with the significant
litigation or arbitration, legal representative, director,
superintendent and major management’s engagement in any
criminal proceeding, the reduction of collateral’s value or
potential risk of such, the forfeiture of collateral or its subject to
other temporary preliminary order, breach of duty under the guarantee
contract, request to rescind the guarantee contract and so
on.
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8)
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Upon
the request of Bank, Client shall complete the enforceable procedure of
notary public before the notary public authority designated by Bank.
Client shall bear the expense and voluntarily accept such
enforcement.
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9)
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Client
shall notify the Bank if any incident which shall have effect on its
performance under this Agreement or relevant
documents.
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10)
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Exclusive
commitment of group clients (applicable to group clients) If Client to
this Agreement is group clients, Client hereby
commits:
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i.
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Client
shall timely report any transaction equivalent to or above 10% of net
assets of the accredited party, including a. relation between the
transaction parties; b. subject and nature of transaction; c. amount of
transaction or its ratio; d. pricing policy (including non-monetary or
symbolized monetary transaction).
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ii.
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Any
of the following events of the accredited party shall be deemed a Client’s
breach of duty under this Agreement and shall enable the Bank at its sole
discretion to rescind any credit not used by the Client, retrieve partial
or entire used credit or require Client to put up % 100 margins: a.
submission of fraudulent document or concealment of significant financial
affair; b. change of intended use of credit without the approval of
Bank, divert use of credit or engagement of illegal or violated
transaction by use of credit; c. utilize fraudulent contract
with relevant party and receivable draft or receivable account which has
no actual trading background for bank endorsement or collateral
in exchange for cash or credit of bank; d. decline any supervision or
examination of Bank to its utility of credit or capital and its
operation of finance; e. the occurrence of a significant merger
or acquisition or restructuring that the Bank believes it is going to
effect the safety of credit; f. attempt to evade the liability to the Bank
through a relevant transaction.
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Page 5 of
11 Pages
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13.
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Fee and
Expense. For any fee and expense advanced by Bank regarding
the modification, signature, enforcement, notary public or registration of
this Agreement or relevant documents, upon the request of Bank, Client
shall immediately reimburse to Bank. Unless the tax required by law and
payable by Bank, Client shall pay the stamp duty and other tax under this
Agreement or any relevant
documents.
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14.
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Penalty.
The
RMB rate for overdue divert penalty shall be negotiated by both parties
and indicated in the credit facility schedule in accordance with the
regulations of the Bank of the People’s Republic of China. The
computation of such penalty shall comply with the regulation set forth by
the Bank of the People’s Republic of China. The foreign
currency overdue penalty rate and divert penalty rate shall be indicated
in the credit facility schedule pursuant to a negotiation between the
parties. The computation of penalty is also indicated in the
credit facility schedule pursuant to a negotiation between the
parties.
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15.
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Rate of
Exchange. When
computing the occupation of the credit facility, if the financing currency
and the credit facility currency are different, Bank shall have right to
make calculation according to its own rate of exchange. In any event that
the change of conversion rate causes the total occupied credit facility
exceeding the maximum credit facility, Bank shall have right to demand an
immediate return of the exceeding amount from Client. If
Client’s repayment (including authorized repayment) is made in a currency
other than the credit facility currency, Bank shall have right to purchase
such currency according to its own rate of exchange with risk on
Client.
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16.
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Authorized Repayment
and Write-offs. Client
hereby authorizes the Bank that, at any time when Client’s repayment is
due and not received by Bank, whether or not such repayment becomes due
under this Agreement or the ancillary financing documents, Bank
shall have right to withdraw from any Client’s account on its
behalf for such repayment. This authorization is
irrevocable. For any rate of exchange, Bank shall make its
calculation on its own rate, with risk on
Client.
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17.
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Proof of
Debt. Consistent
with its operational guidelines, Bank shall maintain an account book or
record of any transaction under this Agreement or ancillary financing
documents on its bookkeeping. Unless obvious error, Client admit such
account book or record is admissible proof of
debt.
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18.
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Assignment.
Client
shall not assign any rights or duties under this Agreement to any third
party. However, Bank shall be able to assign its rights or duties under
this Agreement to any third party. Besides, it shall be able to disclose
any information regarding this Agreement to such party, including any
information provided by Client or Client’s guarantor for the purpose of
this Agreement.
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19.
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Disclosure.
Client
agrees, besides the permissible disclosure enacted in provision 18, Bank
shall be able to disclose any information related to this Agreement to its
headquarters, branches, association or any of their
employees. At the same time, any Bank’s disclosure under the
law or regulations or upon the request of the supervising authority,
government agency or judicial department is also
permissible.
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Page 6 of
11 Pages
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20.
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Breach of
Duty. Any
Client’s breach of this Agreement, declaration or guarantee or such
declaration or guarantee is proved to be incorrect, untrue, tend to omit,
misleading or breached, and/or Client’s violation or
non-performance of this Agreement or any covenants subsidiary to this
Agreement, and/or any occurrence of Client that possibly affects the
security of Bank’s loan, and/or guarantor’s breach of
guarantee, shall constitute Client’s breach of this Agreement and its
subsidiary covenants and Bank shall not only be entitled to any damages or
any other cost and expense, including attorney fees from Client, but also
have right (but not obligated) to respectively or jointly adopt the
following measures:
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1)
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Adjustment
or recession of the credit facility under this
Agreement;
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2)
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Declare
the whole or part of the debt under any subsidiary covenants becomes
overdue and payable by the Client with the principal and
interest. As to the draft, issuance of L/C, guarantee/ standby
L/C paid by Bank within the credit facility, Bank shall be able
to demand Client to provide more margin, or transfer from
Client’s saving or checking account to its margin account for future
payment or necessary advance on behalf of Client. If Bank has advanced
such payment, Bank shall have right to demand Client’s immediate
repayment;
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3)
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Calculate
the interest according to the penalty rate under this Agreement or the
subsidiary covenants, and double the interest for any unpaid
interest;
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4)
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Withdraw
deposit from any Client’s account in Bank according to Provision 16 of
this Agreement.
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21.
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Miscellaneous
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The
amount of financing RMB TWENTY TWO MILLION
EVEN as agreed in Part II of this Agreement is the maximum financing
facilities, at any time the Exposure pursuant to a deduction of margin shall not
exceed RMB ELEVEN
MILLION EVEN.
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22.
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Applicable Law and
Jurisdiction. The
law of China (excluding Hong Kong, Macro and Taiwan) is applicable and
explainable to this Agreement. Any dispute arising from this Agreement is
subject to the non exclusive jurisdiction of the People’s Republic of
China court where Bank’s place of business
is.
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23.
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Force
Majeure. Defined
as any unpredictable, unavoidable and irresolvable occurrence, including
but not limited to natural disaster, earthquake, typhoon, flood, fire,
war, disturbance, epidemic disease, act of state, strike, downtime, power
and communication failure, breakdown of internet system and breakdown of
system. Either party being affected shall notify the other as
soon as it learned of the Force Majeure event and negotiate with the other
for resolution. However, the party being affected shall not be liable for
any breach of duty.
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24.
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Processing
Service. Client
hereby affirms that the delivery of any subpoena, notice
and other court document arising from the litigation under this Agreement
and during the proceeding of litigation to the address indicated at the
front of this Agreement shall deemed a complete service. The change of
such address is ineffective unless Bank is notified in
advance.
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Page 7 of
11 Pages
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25.
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Notice.
Any
notice from either party to the other shall be forwarded to the address
indicated in the front of this Agreement, unless a party notifies the
other of a change of address. Any transmittal to such address
is deemed to be delivered: for mailing of a letter, seven (7) business
days after the registered mail; for personal delivery, the day when the
recipient signs and accepts; for facsimile or electronic mail, the day of
transmittal. However, all notice, request or other communication forwarded
to Bank shall be deemed delivered even prior to Bank’s actual receipt. In
addition, all notice to Bank transmitted by facsimile or electronic mail
requires a post-confirmation by personal delivery or mailing of the
original (with official stamp) to
Bank.
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26.
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Divisibility
of Provision. The
invalidity, illegibility or non-enforceability of any provision in this
Agreement or the subsidiary covenants shall not effect other valid, legal
and enforceable provisions of this Agreement or subsidiary
covenants.
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27.
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Grace
Period. Within
the term of this Agreement, any Bank’s grant of grace period or delayed
action to Client’s breach of duty shall not damage, affect or limit the
right or benefit of Bank as a creditor under the law or this Agreement, it
shall not be deemed an approval to the Client’s breach of the Agreement,
nor even a waiver of Bank’s right against the Client’s breach in the
present or future.
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28.
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Effectiveness.
This
Agreement takes effect on the day when it is sealed with both parties’
official stamps and signed by either parties’ legal representatives or
persons in charge or authorized agent. Unless Bank rescinds the entire
credit facility, or Client does not owe any balance to Bank under this
Agreement or the subsidiary covenants, the Agreement shall always maintain
its effectiveness.
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29.
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Document.
The
original of this Agreement has one form with four
counterparts, one
held by Client, two
held by Bank, one
held by collateral
registration authority and with the same legal
effect.
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Page 8 of
11 Pages
Part
II Financing Limit Table
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Name
of Client: Dalian Heavy
Mining Equipment Manufcaturing Co., Ltd.
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|||||||||
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Description
of the Maximum Financing Facility
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|||||||||
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Limited
Amount (Currency)
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Twenty-two
Million even RMB
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Period
(yyyy/mm/dd)
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From
2011.1.19 To 2012.1.19
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||||||
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Revolving
Facility Mode
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Revolving
Mode
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||||||||
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Guarantor
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De
Xin Fan, Peng Tang, Feng Shou Sun,
Lixin
Wang, Wen Fang Wang, Bin Cheng, Yueqi Zou, Jia Sun, Zao Sun, Xian Guo
Tang, Ji Fa Zhao, Hui Jun Mou, Bin Shu, Linqiang Yang, Yi Nan Liu, Yan Qiu
Piao
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Method
of Security
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|||||||
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Guarantor
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Method
of Security
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o Mortgage o Pledge
o Guarantee
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|||||||
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Overdue
Penalty Interest Rate (daily rate)
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Daily 50%
extra
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Embezzle
Penalty Interest Rate (daily rate)
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Daily 100%
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||||||
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Margin
Rate for Various Financing Product
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|||||||||
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Specific
Applicable Financing Variety and Conditions
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|||||||||
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Varieties
of Financing Product
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Amount
(Sum, Currency)
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Interest
Rate / Fee
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Maximum
Period for Single Business
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||||||
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x
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Short-term
Loan (Fixed Term)
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Benchmark
Interest rate increased by a factor of 20%
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One
Year
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||||||
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o
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Short-term
Loan (Immediate Repayment)
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||||||||
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o
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Trade
Bill Discount Note(Includes Agreed Interest Method)
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||||||||
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o
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Draft
Discount Note
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||||||||
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o
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Trade
Bill Guarantee Discount (Client is the Acceptor)
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||||||||
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o
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Factoring
Financing
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||||||||
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o
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Letter
of Credit (Includes Domestic Certificate) Export Bills
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||||||||
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o
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Letter
of Credit Import Bills
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||||||||
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o
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Packing
Loan
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||||||||
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o
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Export
Collection Documentary
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||||||||
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o
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Issuing
Letter of Credit (Includes Usance)
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||||||||
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o
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Issuing
Letter of Guarantee (Includes Reserve L/C)
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||||||||
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x
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Issuing
Bank Acceptance Draft
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||||||||
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o
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|||||||||
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Note: After
the agreement has been reach by the client and the Financing Bank,
financing product and amount could be adjusted within the financing limit
of this Agreement. The actual financing product and
amount used by the client shall be according to the attachments of the
financing documents.
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|||||||||
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Special
Note:
(1)The
client might choose the financing product on their own, the sum of all
financing product shall not exceed the financing limit at all
time. The financing limit to any specific financing product, if
the clients wish to have a separate line of credit, not mix use with other
financing product, the client shall individually mark the amount for the
specific financing product.
(2)If
the client is mortgagor or the pledgor, the Guarantor shall be filled as
“Self” or the client’s name.
(3)RMB
interest rate shall be annual interest rate, floating interest rate shall
indicate floating period. Fee could be filled as a specific amount or
ratio.
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Page 9 of
11 pages
Appendix
I: Amendment of Credit Facility (Form)*
To:
Shanghai Pudong Development Bank, Branch ____
Office_____ No.
|
Our
Company hereby irrevocably apply for the amendment of credit facility
granted to us according to the following conditions:
|
||
|
Credit
Facility Agreement No.
|
||
|
General
Amendment
|
||
|
1.
Commitment fee is amended to :
2.
The maximum credit facility is upgraded to :
3.
Additional guarantee document Number :
4.
The period of maximum credit facility is extended to :
5.
The overdue penalty rate is adjusted to
: The
diverted penalty rate is adjusted to :
6.
The margin rate is adjusted to o endorsement %
; o Issuance of
L/C % o Issuance of
guarantee/standby
L/C % o Issuance Bank
Draft %
7.
The revolving manner is amended to :
|
||
|
Amendment
of Applicable Financing Varieties
|
||
|
8.
[ ] (Please
fill in the name of financing variety, multiple varieties is allowed) of
credit facility is no more applicable alone.
9.
[ ]
(Please fill in the name of applicable financing variety) of credit
facility is applicable alone for __________ten thousand yuan (name of
currency)
10.
[ ]
(Please fill in the name of applicable financing variety) of credit
facility is applicable alone for _________ ten thousand yuan (name of
currency)
11.
The interest rate and fee and the maximum period for single transaction
for the following applicable financing variety shall be adjusted in
accordance with the following standards:
|
||
|
Applicable
Financing Variety
|
Interest
Rate or Fee
|
Maximum
Period of Single Transaction
|
|
[ ]
(please fill in the name of applicable financing variety)
|
||
|
[ ]
(please fill in the name of applicable financing variety)
|
||
|
[ ]
(please fill in the name of applicable financing variety)
|
||
|
Declaration
of Client
|
Affirmation
of Guarantor
|
|
|
Our
company hereby declares: the above application is irrevocable.
It takes effect as of the date of affirmation by official stamp and
constitutes a valid amendment to credit facility agreement. All
other provisions of credit facility agreement are not amended and still
valid.
Client
(Official Stamp)
Legal
Representative or Authorized Agent (Signature or Stamp)
|
The
guarantor hereby affirms : I am notified the amendment and shall continue
to performer my duty of guarantee to the principle debt after the
amendment as of the date of amendment agreement’s
effectiveness
Guarantor
(Official Stamp):
Legal
Representative or Authorized Agent (Signature or Stamp)
|
|
|
Affirmation
of Bank
|
||
|
Agree
to the amendment:
Bank
(Official Stamp)
Legal
Representative or Authorized Agent (Signature or Stamp)
Date
:
|
||
|
*This
page was intentionally left blank as it was not applicable to the
transaction.
|
||
Page 10
of 11 pages
This
Agreement is signed by either party on January
19, 2011. Client hereby confirms, at the time of signature, both parties
have gone over each and every provision with detailed explanation and
discussion, and either party has no other concern about each and every provision
to this Agreement and has accurate and correct understanding on the legal
meaning in terms of the rights and duties of relevant party, the confinement of
duties and the disclaimer.
|
Client
(Official Stamp)
|
Bank
(Official Stamp)
|
 |
 |
|
Legal
Representative or Authorized Agent
|
Legal
Representative or Authorized Agent
|
|
(Signature
or Stamp)
|
(Signature
or Stamp)
|
|
/s/
Lixin Wang
|
/s/
Xin Hao Wang
|
Page 11
of 11 Pages