Common use of Declaration and Commitment Clause in Contracts

Declaration and Commitment. The Guarantor states and undertakes as follows: 1. The Guarantor is legally established and exists in good standing; the Guarantor has the civil rights and utter capability to execute and perform this Agreement. 2. The Guarantor fully understands the content of the Principal Agreement; the execution and performance of this Agreement is based on the Guarantor’s real intent and free will while the Guarantor has already obtained all the legal and valid authorization as required by its Articles of Association or other inner management files. If the Guarantor is a company, the provision of Guaranty hereof has already been passed by the board of directors and shareholders meeting according to the provisions of its Articles of Association; If the there are limitation provisions applicable to the guaranteed total amount and separate guaranty amount in the Articles of Association, the guaranty hereof shall not exceed the stipulated limit. Legal representative or authorized representative signing the Agreement on behalf of the Guarantor shall sign this Agreement with legal, valid authorization from the company; execution and performance of this Agreement shall not cause the Guarantor breach any Agreements, agreements or other legal documents constraining the Guarantor. 3. The Guarantor shall provide all the accurate, real, complete and valid documents and materials to the Debtor; 4. The Guarantor shall accept the Creditor’s supervision and inspection as of the production and operation condition, financial condition, and the Guarantor shall provide assistance and coordination; 5. The Guarantor does not conceal any already-taken significant liability as to the execution date hereof; 6. If there are some circumstances that may affect the Guarantor’s finance condition and performance capability, including but not limited to the division, merger, joint operation, joint venture with foreign investment, cooperation, contractual operation, reorganization, restructuring, going public and other changes of forms, registered capital decrease, transfer of significant asset or stock equity, undertaking of significant liabilities, dissolution, revocation, bankruptcy application (or be applied), or involved in major litigation or arbitration, the Guarantor shall notify the Creditor in a timely manner.

Declaration and Commitment. The Guarantor states and undertakes as follows: 1. The Guarantor is legally established and exists in good standing; the Guarantor has the civil rights and utter capability to execute and perform this Agreement. 2. The Guarantor fully understands the content of the Principal Agreement; the execution and performance of this Agreement contract is based on the Guarantor’s real intent and free will while the Guarantor has already obtained all the legal and valid authorization as required by its Articles of Association or other inner management files. If the Guarantor is a company, the provision of Guaranty Guarantee hereof has already been passed by the board of directors and shareholders meeting according to the provisions of its Articles of Association; If the there are limitation provisions applicable to the guaranteed total amount and separate guaranty guarantee amount in the Articles of Association, the guaranty guarantee hereof shall not exceed the stipulated limit. Legal representative or authorized representative signing the Agreement on behalf of the Guarantor shall sign this Agreement with legal, valid authorization from the company; execution and performance of this Agreement shall not cause the Guarantor to breach any Agreementscontracts, agreements or other legal documents constraining the Guarantor. 3. The Guarantor shall provide all the accurate, real, complete and valid documents and materials to the Debtor; 4. The Guarantor shall accept the Creditor’s supervision and inspection as of the production and operation condition, financial condition, and the Guarantor shall provide assistance and coordination; 5. The Guarantor does not conceal any already-taken significant liability as to the execution date hereof; 6. If there are some circumstances that may affect the Guarantor’s finance financial condition and performance capability, including but not limited to the division, merger, joint operation, joint venture with foreign investment, cooperation, contractual contract operation, reorganization, restructuring, going public and other changes of operation forms, decrease in registered capital decreasecapital, transfer of significant asset or stock equity, undertaking of significant liabilities, dissolution, revocation, bankruptcy application (or be applied), or involved in major litigation or arbitration, the Guarantor shall notify the Creditor in a timely manner.