Exhibit 10.42


 


Maximum Amount Comprehensive Credit Line
Contract


NO. SX162618000785


 


Fiduciary: Icon Energy System
(Shenzhen) Company Limited


Address: Block A, 4/F, Jinmeiwei Industrial
Park, Guanlan Hi-tech Industrial Park, Guanlan Town, Baoan District, Shenzhen 


 


Creditor: Bank of Jiangsu, Shenzhen
Sub-branch.


Address: 19、20/F, Haiwangxingchen
Building, NO.2, Lanxiangyi Street, Zhongxin Road, Nanshan, Shenzhen.


 


According to relevant laws and regulations
of China, this contract was agreed by two parties, and both parties agree to comply with all terms of the contract.


 


Clause 1 The maximum comprehensive
credit limits (hereinafter referred to as “fiduciary”) means the credit line that creditor provide to fiduciary who
can use the credit line in the business lines agreed by the contract.


 


Clause 2 Content of the credit


1. The maximum amount of comprehensive credit
limits that creditor provide to fiduciary is RMB 10,000,000.


2. The period of the credit: From 25th Sep,
2018 to 24th Sep, 2019. This period only limits the start date of the credit businesses but the expiration date.


3. The allotted time, amount, interest rate
and rate of single specific business under this credit contract should be agreed by accordingly specific business contract and
voucher.


4. Aforesaid “The maximum comprehensive
credit limits” only includes the balance of credit principal which is the actual used credit line (deducts guaranty bund)
deducts the part which has been repaid under this contract during the contract period, but the interest, punitive interest compound
interest and other payables which should be afforded by fiduciary.


 


Clause 3 The usage of credit line


1. When fiduciary need to use the credit line
under this contract, should apply to creditor one by one, creditor has the right to audit in accordance with fund condition of
itself, operation situation of fiduciary and the purpose of credit etc. If the applications are approved, both parties should sign
the specific credit business contract separately. Every single credit business contract under this contract and relevant voucher
constitute the effective attachment of this contract.


2. Within the period agreed in this contract,
fiduciary can use the credit line according to the limit of every single credit business agreed by this contract repeatedly, if
fiduciary need to adjust the usage of credit line, application should be provided to creditor in writing, and creditor decides
whether the application can be approve and the method of adjustment.


3. The following is out of the credit:


4. When the credit become expiring, the credit
line which is not used will automatically be cancelled.


 




     


     


    

 


Clause 4 Adjustment of credit line


In the process of performing this contract,
if following situations, which may affect the right of creditor, occur, creditor has the right to make relevant adjustment and/or
stop fiduciary using credit line, and cancel unused credit line of fiduciary.


1. The market, which is related to fiduciary’s
operation, has significant adverse changes, or Country’s monetary policy has significant adjustment.


2. There are significant difficulties on operation
situation or important adverse changes on financial conditions to fiduciary.


3. Termination of business, liquidation, restructuring,
dissolution and bankruptcy of fiduciary by an active or passive means.


4. Fiduciary is involved in significant litigation,
arbitration or administrative punishment, or has significant default with other creditors.


 


5. Fiduciary indicates or expresses by its
actions that it does not perform its obligations under this contract or other contract signed by creditor and fiduciary.


6. Fiduciary provides false materials or conceals
any important fact of finance and operation.


7. Fiduciary does not perform the obligations
agreed in this contract or specific credit business contract.


8. Fiduciary violates other contracts signed
by creditor and fiduciary.


9. Fiduciary transfers its assets, pumps money,
evades debts and has other behaviors which damage or might damage the rights of creditor.


10. Fiduciary is involved in illegal operations.


11. Division, merger, important takeover,
consolidation and reorganization of fiduciary.


12. Fiduciary loses commercial integrity.


13. Controlling shareholder of fiduciary transfer
is changed, or significant items happen to controlling shareholder, actual controller, legal representative, senior executives
of fiduciary, including but not limited to be involved in illegal actions, litigation, arbitration, deterioration of financial
condition, bankruptcy, dissolution etc.


14. Guarantor of the credit business under
this contract default, such as providing false information, violating other contracts signed by creditor or other third parties,
involved in litigation, arbitration, stopping doing business, business failures, illegal actions, evading bank credit’s right,
merging, consolidation, reorganization, and other situation which may affect guaranty ability of Guarantor.


15. Other situations damage rights and interests
of creditor.


 


Clause 5 Rights and obligations of fiduciary


1. Having the right to apply for using the
credit line.


2. Opening settlement account in Bank of Jiangsu,
Shenzhen Sub-branch, and arrange settlement of both domestic and overseas accounts, foreign exchange settlement and sale and other
intermediate business in Bank of Jiangsu or its sub-branch more than the proportion of the credit line which gets from creditor
and all credit line of fiduciary.


3. Fiduciary should provide true documents
and information to creditor (including but not limited all bank accounts, balance of deposit and loans, situations of using loans,
condition of assets, operation, and inner management etc.


4. Providing last month’s financial
statement before the 20th of each month, and providing audited financial statement to creditor in 120 days after fiscal year, and
providing changes and modifications of itself to creditor.


 




     


     


    

 


5. Accepting and cooperating with creditor
in surveying, supervising and examining on the situation of using credit, related production, management, financial operation.


6. Complying with this contract and every
single business contract under this contract strictly.


7. When used credit exceed the credit line
agreed in this contract result from the change of exchange rate, fiduciary should repay the exceeding part or pay homologous security
deposit.


8. If following situation occurs, fiduciary
should notice in writing creditor in 5 days since related situation happens and implement security measure which is accepted by
creditor.


(1) Changes of membership function, executives,
articles of association and organization.


(2) Stopping producing, going out of business,
cancelling registration, being cancelled business license or being applied for bankruptcy.


(3) Changes of name, domicile, legal representative,
contact manner and so on.


(4) Financial standing depravation, significant
difficulty on operation, significant litigation or arbitration.


(5) Other things have significant affect on
rights and interests of creditor.


9. Fiduciary should ask creditor’s consent
and implement security measure, which is accepted by creditor, before taking following actions.


(1) Contract management, lease, stock system
reform, joint operation, consolidation, merger, discrete, joint venture, asset transference, reducing registered capital, applications
of suspensions, dissolution, bankruptcy and other actions which can affect rights and interests of creditor.


(2) Providing guarantee for other’s
debts, or pledging or mortgaging major asset of itself to third party, leading to affect the repayment ability under this contract.


10. When the guarantor, which is under this
contract or under single business contract of this contract, loses guarantee ability, or pledge, which is under this contract or
under single business contract of this contract, depreciates in value, fiduciary should take other guarantee measures, which are
accepted by creditor, in time.


11. Fiduciary is not allowed to sign the contract,
which can damage the rights and interests of creditor, with any other third party.


 


Clause 6 Rights and obligations of creditor


1. Accepting and reviewing fiduciary’s
application of using the credit.


2. The financial conditions, operation of
fiduciary should be kept secret by Party B, except the laws, administrative laws and regulations, normative documents requested.


3. Having the right to ask fiduciary to provide
related information of the credit, having the right to know the production, financial condition, operation, and repayment plan
of fiduciary, and having right to extract and copy from account books, operation record and related information.


4. Having the right to supervise fiduciary
uses the credit according to this contract and single credit business contract.


5. Having the right to collect principal,
interest, and other related expenses from Party A’s account on schedule or in advance.


6. If fiduciary fails to act or violate the
obligations under this contract and single credit business contract of this contract, creditor has the right to adjust the maximum
amount of comprehensive credit line, and stop using credit line, cancel unused credit line of fiduciary, regain used credit in
advance.


7. Having the right to query the credit inquiry
of fiduciary, the legal representative of fiduciary and executives of fiduciary, and has the right to provide the information of
fiduciary to the people’s Bank of China etc.


8. If fiduciary fails to act repayment obligations
under this contract and single credit business contract of this contract, defaults of fiduciary can be announced in public by creditor.


 




     


     


    

 


Clause 7 Expense


1. The expense of credit information, notarization,
testimony, register etc under the contract should be afforded by fiduciary.


2. The expense result from fiduciary does
not repay related debt, such as advertising fee, delivery fee, appraisal cost, counsel fee, legal fare, travel expense, valuation
fee, auction fee, property preservation fees, enforcement fee etc., should be afforded by fiduciary.


 


Clause 8 Modification, dissolution and
execution of civil right of the contract


1. Agreed by both parties, this contract can
be modified and dissolved in written.


2. Any tolerance, extension or delay from
creditor to fiduciary for exercising of rights under this contract does not affect the rights creditor enjoys according to this
contract and laws and regulations, and cannot be considered as approval to the default, and does not mean the abdication of the
right.


3. Any item of this contract become invalid
because of any reasons, fiduciary still should assume all responsibilities. If above situation happens, creditor has the right
to terminate this contract, and ask fiduciary to repay immediately.


4. If fiduciary violate the obligation regulated
in eighth item of clause 8 of this contract. It will be considered as the information has been delivered that related notices and
documents sent by creditor according to primary address result from fiduciary does not perform above obligations.


5. Any related notices and documents should
be sent in written by both parties.


 


Clause 9 Fiduciary agrees that the
credit’s rights under this contract can be enforced after notarization. When fiduciary does not carry out obligations under
the contract completely or partly, creditor can apply enforcement to competent court.


 


Clause 10 Applicable Law and Resolution
for dispute


The making, efficacy, explanation, performance
and resolution for dispute of the contract are applicable to the laws of People’s Republic of China. During the performance
of this contract or all disputes relating to this contract, the two parties settle through consultations. If negotiation cannot
reach agreement, both parties can apply to the People’s Court of Shenzhen.


  


Clause 11 Effective and invalid of the
contract


1. This contract enters into force upon the
date when it is signed or sealed and affixed with official seals by the legal representative or entrusted agents of fiduciary and
creditor.


2. This contract become invalid after fiduciary
accomplishes all repayment responsibility under this contract.


 


Clause 12 This contract is signed in
triplicate, creditor holds two copies, fiduciary holds one copy, three copies have the equal legal effect.


 The things which are not mentioned in
this contract should be explained and settled according to relevant laws, administrative laws and regulations, normative documents
and single credit business contract, and the related regulations of Bank of Jiangsu.


 


Clause 13 other


 




     


     


    

 


Clause 14 Prompt


Fiduciary has known the business scope and
grant privilege of Party B. Fiduciary has read all terms of the contract. Creditor has explained homologous terms requested by
fiduciary. Fiduciary has known the meaning of all terms of the contract and homologous legal consequence. Signing the contract
is the true will of fiduciary.


 Fiduciary (stamp)


Legal Representative or agent (signature): 


Creditor (stamp)


Legal Representative or agent (signature):