Common use of Declaration and Commitment Clause in Contracts

Declaration and Commitment. The Guarantor hereby declares and commits: 1. The Guarantor has been duly registered and validly existing and has the full capacity for civil conduct and behavioral competence to sign and perform this Contract; 2. The Guarantor has fully understood the contents of the Master Contract. Conclusion and performance of this Contract is based on the Guarantor’s real intention. The Guarantor has obtained legitimate and effective authorization in accordance with this Articles of Association or the requirements of other internal management files. The Guarantor, if a company, shall ensure provision of the guarantee has been approved by the board of directors or the shareholders’ committee, or the resolution of shareholders’ meeting in accordance with the Articles of Association. It there is limit under the Articles of Association for the total amount guaranteed and the amount of single item guaranteed, the guarantee under this Contract does not exceed the stipulated limit. Conclusion and performance of this Contract shall not violate any contract, agreement or other legal documents which are binding upon the Guarantor; 3. All documents and materials that the Guarantor provides the Creditor are accurate, true, complete and valid; 4. The Guarantor shall accept, assist and coordinate the Creditor’s supervision and examination on the Guarantor’s production and operation conditions and financial status; 5. The Guarantor has not concealed the Creditor of any significant liability undertaken prior to the date of signature of this Contract; 6. In case of any situations possibly affecting the Guarantor’s financial status and contract performance capacity, including but not limited to dismantlement, merger or joint cooperation by any means, or joint investment or cooperation with foreigners, contractual operation, reorganization, reformation, promotion planning and change of other business mode, reduce of registered capital, transfer of significant assets or shares, significant liabilities undertaken, dissolution, revoke, (being filed) filing for bankruptcy, or in case of major litigation or arbitration case, the Guarantor shall timely notify the Creditor.