Common use of Party B’s Statement and Guarantee Clause in Contracts

Party B’s Statement and Guarantee. Party B makes the following statement and guarantee. Item 5.1 Party B has the guarantor’s qualifications, the guarantee for the Party A has acquired the necessary authorization or approval according to procedures and jurisdiction of company constitution, will not violate laws and regulations and other relevant regulations. Item 5.2 If Party B is a listed company or a subsidiary of a listed company, will ensure to disclose the guarantee in time according to the requirements of "Securities Act", "Stock Exchange Listing Rules" and other laws, rules and regulations. Item 5.3 Party B has sufficient capacity to assume the responsibilities, will not reduce or exempt the responsibilities because of any variation of instruction, financial situation, or any agreement entered with any third party. Item 5.4 Party B fully understands the purpose of the loan under the main contract, voluntarily guarantee for the debtor, the meanings of the items in the main contract is fully true. For domestic and international trade financing, Party B admit transaction basis of the financing is true and without fraud. Item 5.5 All materials and information provided to Party A are true, accurate and complete, without false record, misleading statement or significant omission. Item 5.6 If the principal loan in the contract is international trade financing that Party A provides to the debtor, then Party B accepts related international conventions about related business. Item 5.7 If Party B is a natural person, also makes the following statement and guarantee: A. With full civil rights and full civil capacity; B. With legitimate source of income and adequate compensation capacity; C. Without malicious acts such as malicious default of bank loan’s principal and interest, malicious overdraft credit cards and other malicious acts; D. Without gambling, drug abuse and other bad behavior or criminal record; E. Spouse of Party B agrees to provide the guarantees to Party A.