Common use of Agreed Items Clause in Contracts

Agreed Items. 1. Guarantors agree (1) not to employ the following actions without obtaining Creditor’s written consent: ¨ disposing significant assets in part or whole by means of sales, gifts, lease, borrowing, transferring, pledge, mortgages and others. ¨ incurring significant changes to forms of Guarantors’ organizations, including but not limited to leasing, contracting, stock transfer, M &A, joint venture, spin-off, establishment of subsidiaries, transfer of ownership, decrease of registered capitals. ¨ changes to Company’s article of associations, scope of business or primary business. ¨ providing guaranty to any third party that results in significant adverse impact to Guarantors’ capability of executing the Contract or their financial performances. ¨ filing applications for bankruptcy, reorganization or dismiss. ¨ signing any contract or arrangement that have material adverse impact to Guarantors’ capability of executing the Contract; or bearing any liabilities that will cast such impact. (2) In case of the following events incurred, Guarantors undertake to give notice to Creditor at the date of incurrence and to deliver the original written notice (attached with seals if non-natural person, signatures if nature person) to Creditor upon five (5) bank days upon the incurrence of such event. ¨ any event that leads to untruth or inaccurateness in Guarantors’ representations and warranties under the Contract. ¨ Guarantors or their controlling shareholders, actual shareholders or related person are involved in law suits, arbitrations, asset detention/ confiscation/ mandatory execution and other equally powerful measures. Or Guarantors’ legal representatives, directors, supervisors, senior managers are involved in prosecutions, arbitrations or other mandatory measures. ¨ There are any changes to Guarantors’ legal person, authorized agent, incumbent, CFO, mailing address, company name, place of business; or for a natural person, changes to its home address, employer, permanent living city, name or incomes. ¨ Other Creditors appeal for Guarantors’ bankruptcy or reorganization. Or Guarantors are deregistered by superior authority. (3) Guarantors agree to furnish financial reports or income statements with Creditor from time to time during the period of signing and executing the Contract. (4) If the subject contemplated under the Contract is letter of credit, letter of guarantee or standing letter of credit, Guarantors agree to bear joint liabilities to deposit adequate fund provided that Debtor fails to provide enough deposit as required. Guarantors’ behavior of providing deposit shall not be considered as waiver of their guaranty obligations hereunder. In case of any loss or damage arising from such deposit made by Guarantor subject to the Contract, including interest loss, Guarantors shall bear the consequences by itself. (5) Guarantors confirm that prior to settlement of all the liabilities under the Master Contract, Guarantors shall not excise any recourse right and others due to execution of the Contract, towards Debtor. (6) If Debtor reimburses the payment in part or whole, Guarantors shall be jointly held liable to any unpaid debts upon such repayment.