Document:

EX-4.8

Exhibit 4.8

Guarantee Agreement

(Summary Translation)

Guarantor: Xiaofeng Peng

Address: Xiang Ge Li La Garden #39, Suzhou, Jiangsu Province

ID Number: 360102197505256311

Zip Code: 210024

Tel: 0790-6862799

Fax: 0512-65622785

 

Guarantor: Shan Zhou

Address: Xiang Ge Li La Garden #39, Suzhou, Jiangsu Province

ID Number: 2301039751112518x

Zip Code: 210024

Tel: 0790-656269698

Fax: 0512-65622785

 

Lender: China Development Bank

Address: Hu Cheng Men Wai Street #29, Xi Cheng District, Beijing City

Legal Representative: Yuan Chen

Zip Code: 100037

Tel: 0791-6592365

Fax: 0791-6592333

 

 

This Agreement is made by and among the China Development Bank (hereinafter referred to as “Party
A”), Mr. Xiaofeng Peng (hereinafter referred to as “Party B”) and Mr. Shan Zhou (hereinafter
referred to as “Party C”),

WHEREAS,

	1.	 	Party A and Jiangxi LDK Solar Hi-Tech Co., Ltd. (hereinafter referred to as “Jiangxi LDK”)
entered into a loan agreement (hereinafter referred to as the “Loan Agreement”), pursuant to
which Party A undertook to lend to Jiangxi LDK loans in the aggregate principal amount of
US$60 million (hereinafter referred to as the “Loan”) for a term of 5 years (i.e. April 28, 2008 to April 27, 2013).
	 
	2.	 	Party B and Party C (collectively, the “Guarantors”) have agreed to guarantee the obligations
of Jiangxi LDK under the Loan Agreement and be jointly and severally liable for repayment of
the Loan with their personal properties and community properties in the event of default by
Jiangxi LDK under the Loan Agreement.
	 
	3.	 	The scope of the guarantee hereunder shall include any principal amounts outstanding,
interests accrued, damages caused and expenses associated with the realization of Party A’s
rights under the Loan Agreement.
	 
	4.	 	If Jiangxi LDK defaults, Party A is entitled to demand remedies from any of the Guarantors
directly and the Guarantors shall pay on behalf of Jiangxi LDK within 30 days upon receiving
of request from Party A.
	 
	5.	 	The term of the guarantee hereunder shall extend until two years after the due date of each
obligation under the Loan Agreement.
	 
	6.	 	The Guarantors shall have the following obligations during the term of the guarantee:

	 	a)	 	if there are any material changes in relation to the Guarantors’ residences or business
status, the Guarantors shall inform Party A in writing 10 days in advance and provide
relevant information for Party A’s records;
	 
	 	b)	 	the Guarantors shall inform Party A immediately regarding any matters which may affect
the Guarantors’ ability to perform their guarantee obligations under this Agreement;
	 
	 	c)	 	if the Guarantors need to change their nationality or apply for permanent residency
overseas, they shall obtain Party A’s consent and consult with Party A before they proceed;
	 
	 	d)	 	the Guarantors shall not dispose or encumber any material assets in any manner without
Party A’s consents, including but not limited to, mortgage, lien, pledge, gift or transfer
to others;
	 
	 	e)	 	the Guarantors shall not provide guarantees or any form of credit support for other
third parties without Party A’s consent;

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	 	f)	 	the Guarantors shall perform their duties and obligations as major shareholders of the
relevant corporations;
	 
	 	g)	 	the Guarantors shall not take any action or sign any documents which would harm Party
A’s interests; and
	 
	 	h)	 	the Guarantors shall obtain Party A’s consent if they are to incur substantial amount
of debt.

	7.	 	The parties shall resolve all disputes arising from or in connection with this Agreement
through consultation. If the parties cannot reach an agreement through such consultations,
both parties agree to submit the disputes to the people’s court where Party A’s branch office
sits.
	 
	8.	 	This Agreement shall become effective upon signing by the respective parties and fixing
hereunto the respective corporate chops. This Agreement is made in three original copies and
each party shall keep one copy hereof.

Party A

China Development Bank

China Development Bank (sealed)

 

Party B

Xiaofeng Peng

Xiaofeng Peng(sealed)

 

Party C

Shan Zhou

Shan Zhou(sealed)

 

Date: April 23, 2008

Exhibit:
Table of the properties of Guarantors (natural persons)

3EX-4.9

Exhibit 4.9

Guarantee
Agreement

(Summary Translation)

Guarantor: Xiaofeng Peng

Lender:
Agricultural Bank of China Xinyu Branch

This Agreement is made by and between Mr. Xiaofeng Peng (hereinafter referred to as “Party A”) and
Agricultural Bank of China Xinyu Branch (hereinafter referred to as “Party B”).

WHEREAS,

	1.	 	Jiangxi LDK Solar Hi-Tech Co., Ltd. (hereinafter referred to as “Jiangxi LDK”) and Party B
(will enter) have entered into a series of business agreements (hereinafter collectively referred to
as the “Main Agreements”) in which Jiangxi LDK has incurred or will incur certain debts; and
	 
	2.	 	Party A has agreed to provide guarantee for the obligations of Jiangxi LDK under the Main
Agreements.

NOW, THEREFORE, Party A and Party B, subject to the terms and conditions set forth herein, agree as
follows:

	1.	 	Party A agrees to provide guarantees for the performance of obligations by Jiangxi LDK under
the Main Agreements made between February 29, 2008 and May 28, 2010 (hereinafter referred to
as the “Period of Guarantee”). Party A will be liable for repayment of the Renminbi/ foreign
currency loans and letter of credit with reduced/waived security deposit (hereinafter referred
to as “Debts”) up to Rmb 600 million (hereinafter referred to as “Maximum Guaranteed Amount”)
in the event of default by Jiangxi LDK under the Main Agreements.
	 
	2.	 	The guarantee shall include loans in all currencies, which shall be repaid in the original
currencies, provided that the Debts shall have been incurred within the
Period of Guarantee and shall not
exceed the Maximum Guaranteed Amount. Party A further undertakes to pay any excess amount
over the Maximum Guaranteed Amount due to changes in exchange rates.
	 
	3.	 	The scope of the guarantee hereunder shall include any principal amounts, interests accrued,
damages and expenses associated with the realization of Party B’s rights under the Main
Agreements (including attorney’s fees).
	 
	4.	 	During the term of the guarantee (from the date of this agreement
until two years after the expiry of
the performance period by Jiangxi LDK under the Main Agreements):

 

 

	 	(a)	 	upon Party B’s request, Party A shall provide true, complete and timely
financial reports, articles of association or other related information for Party B’s
inspection and monitoring;
	 
	 	(b)	 	in the event of default by Party A, Party B is entitled to set off its claims
against Party A with funds from Party A’s bank account at Party B’s branch; and
	 
	 	(c)	 	Party A shall inform Party B immediately in writing:

	 	(i)	 	if there is any change in its name, addresses, legal
representatives, contact details or other related matters;
	 
	 	(ii)	 	if there is any change in its senior management, articles of
associations or corporate structure;
	 
	 	(iii)	 	if its financial status deteriorates or it encounters
production and operation difficulties or is involved in any material claims or
arbitrations;
	 
	 	(iv)	 	if it discontinues its business, or in liquidation,
receivership or other insolvency proceedings, or in corporate restructuring;
	 
	 	(v)	 	if its business licence is revoked or suspended or it is forced
to be closed or dissolved; or
	 
	 	(vi)	 	any other matters which may affect Party A’s ability to perform
its guarantee obligations under the Agreement.

	 	(d)	 	Party A shall inform Party B in writing 15 days in advance and obtain Party B’s
written consent in the event of any following situation:

	 	(i)	 	if there is any material change in Party A’s capital structure
or corporate formation; or
	 
	 	(ii)	 	Party A undertakes to guarantee obligations for other third
parties or mortgage or pledge its assets for its own or other third parties’
interests which may affect its ability to perform its obligations under this
Agreement.

	5.	 	The Maximum Guaranteed Amount will be determined upon the occurrence of the following:

	 	(a)	 	at the end of the Period of Guarantee as specified under clause 1 of the
Agreement or at an earlier date determined by Party B pursuant to relevant rules and
regulations or other provisions of the Agreement. In any event of default under the
Main Agreements by Jiangxi LDK or this Agreement by Party A, Party B is entitled to
accelerate the Period of Guarantee;
	 
	 	(b)	 	additional Debts cannot be incurred;
	 
	 	(c)	 	Jiangxi LDK or Party A declares bankruptcy or is forced to close; or

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	 	(d)	 	determination by operation of law.

	6.	 	(a) 	Party B is entitled to call upon Party A’s obligations in the following situations (where
Party A fails to fully satisfy its obligations under this Agreement, Party B, in its sole
discretion, determines the allocation of the repayment against the principal amounts,
interests accrued, damages, expenses or other fees) :

	 	(i)	 	Party B is not fully paid when each obligation under the Main
Agreements is due;
	 
	 	(ii)	 	upon the death of Party A, or if Party A is declared missing or
becomes incapacitated;
	 
	 	(iii)	 	any default by Party A under the Agreement; or
	 
	 	(iv)	 	other material factors which may affect Party A’s ability to
perform its guarantee obligations under the Agreement.

	 	(b)	 	Where any Debts are otherwise secured by collaterals from Jiangxi LDK, Party B is entitled to call
upon Party A’s guarantee obligations without regard to any such security interests.

	7.	 	(a) 	From the effective date of this Agreement, Party B shall compensate Party A for losses
caused by Party B’s default under this Agreement.

	 	(b)	 	Party A shall pay 30% of the balance of Maximum Guaranteed Amount as default
payment, concurrently with any compensation for actual losses caused, in the following
situations:

	 	(i)	 	this Agreement was not duly authorized and executed;
	 
	 	(ii)	 	Party A fails to provide true, complete and timely financial
reports, articles of association or other related information as specified
under this Agreement; or
	 
	 	(iii)	 	Party A fails to inform Party B or obtain consent from Party B
as required by clause (5) & (6) of the Agreement; or
	 
	 	(iv)	 	any other default by Party A which may affect Party B’s
creditor rights under this Agreement and Main Agreements.

	8.	 	The parties shall resolve all disputes arising from or in connection with the Agreement
through consultation or either party is entitled to submit the disputes to the people’s court
where Party B’s branch office sits.
	 
	9.	 	This Agreement shall become effective upon the signing by the legal representatives or
authorized representatives of the respective parties and fixing hereunto the respective
corporate seal.

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Party A

Xiaofeng Peng

Xiaofeng Peng (sealed)

 

Party B

Agricultural
Bank of China Xinyu Branch

Agricultural
Bank of China Xinyu Branch (sealed)

Jiangxi LDK’s acknowledgement of receipt of the Guarantee Agreement

Jiangxi LDK Solar Hi-Tech Co., Ltd.

Jiangxi
LDK Solar Hi-Tech Co., Ltd. (sealed)

Date: February 23, 2009

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