Document:

ex 10-48.htm

 Exhibit 10.48

 

 Deposit Contract of Minsheng Financial Leasing

 

 

DEPOSIT CONTRACT

 

 

 

 

 

 

 

No.: [MSFL-2014-2953-V-HZ- 009 –FXJ]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Minsheng Financial Leasing Co., Ltd.

 

June 10, 2015

 

 

1/12

 

 

Deposit Contract of Minsheng Financial Leasing

 

 

Contents

 

 

 

	
Deposit Contract 
	
3

	
 
	
 

	
1. Amount and Payment of the Deposit
	
4

	
 
	
 

	
2. Obligations of Party B
	
5

	
 
	
 

	
3. Deduction of Deposit
	
5

	
 
	
 

	
4. Complement of the Deposit
	
5

	
 
	
 

	
5. Management of the Deposit
	
6

	
 
	
 

	6. Responsibilities for Breach of the Contract	6
	 	 
	7. Application of Laws and Dispute Resolution	7
	 	 
	8. Communication	7
	 	 
	9. Validity, Accessory and Copies	8
	 	 
	10. Other Matters	8
	 	 
	11. Other Agreements	9
	 	 
	Accessory One: Notification of Complementing Deposit (Layout, without the Main Body)	11

 

 

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 Deposit Contract of Minsheng Financial Leasing

 

Deposit Contract

 

Party A: Minsheng Financial Leasing Co., Ltd.

Address: No.3 Building of Financial Centre, No.158, Xisandao Road, Kongxiang Tariff-free Zone, Tianjin

Legal Representative: Kong Linshan, post: Chairman

Tel: 010-68940066

Fax: 010-68489378

 

Party B: Northern Altair Nanotechnologies Co., Ltd. 

Address: North Dongzhuchang Village, Wuan Town, Wuan City

Legal Representative: Wei Guohua, post: President

Tel: 0310-5677626 

Fax: 0310-5677980

The above Party A and Party B are combined by naming “the two parties”, and are named by “the party”, respectively.

 

Whereas:

1. The leaser, namely Party A, and the tenant, namely Handan Head Office of Public Transportation have signed Contract for Finance Lease on finance lease matters (Contract Number: MSFL-2014-2953-V-HZ-009, short for “Contract for Finance Lease” hereinafter). According to Contract for Finance Lease, the tenant accepts the leasehold (short for “the leasehold” hereinafter) listed in Contract for Finance Lease by finance lease and the tenant pays Party A accrued expenses such as the rent. Party B is the supplier of the above leasehold listed in Contract for Finance Lease.

2. In order to guarantee the tenant under Contract for Finance Lease to smoothly and completely implement the payment obligations, Party B agrees to pay Party A the performing deposit (Short for “the deposit” hereinafter) agreed by the contract.

 

 

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Deposit Contract of Minsheng Financial Leasing

Now, Party A and Party B sign up this contract on matters related with the deposit in order to abide by their agreements together by friendly negotiation.

1. Amount and Payment of the Deposit 

1.1 The currency of deposit is: RMB; the amount is (in the capital form of a Chinese number): Twenty million seven hundred and twenty thousand Yuan only (in Arabic number: 18,480,000.00 Yuan).

1.2 Party A returns back the deposit 4.62 million Yuan to Party B under this circumstance that the tenant does not exceed the time limit and both the leaser and Party B do not break the contract after twelve months since the No. MSFL-2014-2953-V-HZ-   -FXJ Contract for Finance Lease is on hire; after twenty-four months since Contract for Finance Lease is on hire and under this circumstance that the tenant does not exceed the time limit and both the leaser and Party B do not break the contract, Party A returns back the deposit 4.62 million Yuan to Party B; after sixty months since Contract for Finance Lease is on hire and under this circumstance that the tenant does not exceed the time limit and both the leaser and Party B do not break the contract, Party A returns back the deposit 3.696 million Yuan to Party B; after the lease term is over and under this circumstance that the tenant does not exceed the time limit and both the leaser and Party B do not break the contract, Party A returns back the deposit 5.544 million Yuan to Party B.

1.3 Party B should pay the deposit by one-off payment to the following account of Party A on the same day when Party A pays purchase expense of leasehold listed in Contract for Finance Lease to the tenant (if the purchase expense of leasehold is paid by installments, it must be the day when the leaser pays the first purchase expense of leasehold):

Account Name: Minsheng Financial Leasing Co., Ltd.

Opening bank: Beijing Weigong Village Branch of China Minsheng Banking Co., Ltd.

Bank account: 0121014040000361

 

 

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Deposit Contract of Minsheng Financial Leasing

2. Obligations of Party B 

2.1 Party B should completely and properly perform his obligations under this contract including but not limited to paying the deposit to the leaser according to the agreed time, method or amount of this contract.

3. Deduction of Deposit

3.1 If the tenant does not perform obligations listed in Contract for Finance Lease by appointments, Party A has rights to, even without the permission of Party B, voluntarily deduct the relevant unpaid funds from the deposit paid by Party B in the order of cost, other payables, liquidated damages, compensation, damage awards, and rent payable.

3.2 If there is the debt appointed by Contract for Finance Lease and it should be assumed by the tenant, and Party A pays it on behalf of the tenant because the tenant delays or refuses to perform the debt, Party A has rights even without the permission of Party B to voluntarily deduct corresponding funds from the deposit paid by Party B.

4. Complement of the Deposit 

4.1 After deducting the relevant funds, Party A has the right to send out Notification of Complementing Deposit (more details in Accessory One) to Party B to inform Party B of matters related with deposit deduction and require Party B to complement the deducted funds in full amount by the deadline ensured by Notification of Complementing Deposit. Party B should complement the deducted funds in full amount according to the requirements of Notification of Complementing Deposit sent by Party A.

4.2 If the balance is still insufficient to deduct all relevant funds after complementing the deposit, Party A has rights to ask Party B to complement the deposit again till it can deduct all relevant funds and the balance of the deposit is not lower than the deposit amount in Item1.1 after deduction.

 

 

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Deposit Contract of Minsheng Financial Leasing

5. Management of the Deposit 

5.1 The deposit guarantees the tenant to properly and punctually pay the rent and perform other obligations regulated by Contract for Finance Lease. When the tenant strictly performs obligations according to Contract for Finance Lease or even though he breaks the contract, his actions are corrected and approved by Party A, Party A returns back the deposit in full amount to Party B and the deposit does not count interests within (five) working days after the lease term stated by Contract for Finance Lease is over.

5.2 If Contract for Finance Lease is terminated in advance, the tenant should pay account payable listed in Contract for Finance Lease ahead. If the tenant postpones paying or refuse to pay, Party A has rights even without the permission of Party B to voluntarily deduct relevant funds from the deposit paid by Party B. If after settling this account there is still some balance, Party A should returns back the balance of the deposit capital to Party B within (five) working days since Contract for Finance Lease is over.

5.3 Party A returns back the deposit to the following account of Party B according to regulations of Item 5.1:

Account Name: Northern Altair Nanotechnologies Co., Ltd.

Opening bank: Wu’an Branch of Bank of China Limited

Bank account: 100399447466

6. Responsibilities for Breach of the Contract 

6.1 If Party B does not pay the deposit according to this contract, Party A has rights to discharge Contract for Finance Lease and stop to supply the tenant with finance lease service. Therewith, Party A does not to assume any responsibilities and the tenant should assume corresponding responsibilities for breach of the contract according to Contract for Finance Lease.

6.2 If Party B does not complement the deposit in full amount according to requirements, Party B should pay liquidated damage to Party A by the rate of five-ten thousandths for the un-complemented part ( from the next day when the complement term stated by Notification of Complementing Deposit to the day when the deposit is actually complemented).

 

 

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Deposit Contract of Minsheng Financial Leasing

6.3 If Party B is reluctant to perform the duty to complement the deposit and it makes the balance of the deposit insufficient to sustain for (five) days, Party A has rights to discharge Contract for Finance Lease and ask the tenant to assume corresponding responsibilities for breach of the contract according to Contract for Finance Lease.

7. Application of Laws and Dispute Resolution 

7.1 This contract and rights and obligations of the two parties listed in this contract apply to laws of the People’s Republic of China and are explained according to laws of the People’s Republic of China.

7.2 As for all disputes related with this contract, the two parties should friendly negotiate to settle according to this contract. If negotiations can not settle, any party can institute legal proceedings to the people’s court with jurisdiction in Tianjin where this contract is performed.

8. Communication 

8.1 Except there are other regulations in this contract, documents, notifications, requirements and other communications included by this contract should be made in written form and must be sent to the following addresses of relevant parties by expressage, registered post, telex, fax or other communication methods:

To Party A: Minsheng Financial Leasing Co., Ltd.

Addressee: Zhang Min

Address: No.1 Guest Building, South Street, Zhongguancun, Haidian District, Beijing 

Tel: 010-68940066-9712 

Fax: 010-68940066-9864

 

To Party B: [Northern Altair Nanotechnologies Co., Ltd.]

Addressee: [Zhu Bin]

Address: [North of Dongzhuchang Village, Wu’an Town, Wu’an City]

Tel: [310-5677626]

Fax: [310-5677980]

 

 

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Deposit Contract of Minsheng Financial Leasing

8.2 If it is sent by expressage, the above document or notification is regarded as to be delivered on the third day after they are sent out to the post; if it is sent by registered post, the above document or notification is regarded as to be delivered on the fifth day after they are sent out to the post; if it is dent by telex, it is regarded as to be delivered when it is sent out and receives the confirmation receipt; if it is sent by fax, it is regarded as to be delivered when it is sent out.

8.3 If any item of contact information is changed, the relevant party should inform changed contact information to the other party in written form according to this contract within seven days after it is changed. Hereafter, documents and notifications of this contract should be delivered by the changed contact information. If the relevant party does not inform in time, all adverse consequences caused by this should be assumed by the responsible party.

9. Validity, Accessory and Copies 

9.1 This contract is the indivisible part of Contract for Finance Lease.

9.2 The accessory of this contract is the indivisible part of this contract and has the same legal effect as this contract. The accessory includes:

Accessory One: Notification of Complementing Deposit (Layout, without the Main Body)

9.3 This contract takes effect since legal representatives or authorized agents of the two parties sign up and seal the official seal of legal person. During the performance term of this contract, this contract is terminated at the same time if Contract for Finance Lease is terminated.

9.4 This contract is quadruplicate. Party A has two copies and Party B has two copies. Every copy is with equal legal effect.

10. Other Matters 

10.1 If any item of this contract is invalid for some reason, the invalidation of this item does not affect the effectiveness and the enforceability of other items in this contract. The two parties should continue to perform other items in this contract.

 

 

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 Deposit Contract of Minsheng Financial Leasing

10.2 Under this contract, any tolerance, grace, preference or postponement to perform rights given to Party B by Party A do not influence, damage or confine Party A to enjoy all rights according to this contract and laws. It should not be regarded as that Party A waives rights and interests under this contract. And it can not exempt any obligations that Party B should assume under this contract.

10.3 When signing this contract, Party A has explained and interpreted all items of this contract to Party B in details. The two parties have no doubt about all items of this contract and have correct comprehension of the parties’ relevant rights and obligations and limitation of responsibilities or the intendment of law of exemption items.

11. Other Agreements 

(The below does not have the main body)

 

 

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Deposit Contract of Minsheng Financial Leasing

(This page is the signature page without the main body)

 

 

 

 

 

Party A: Minsheng Financial Leasing Co., Ltd.          (Official Seal)

 

Minsheng Financial Leasing Co., Ltd. Special Seal for Contractual Uses (seal)

 

Legal Representative (or Authorized Agent): (Signature) 

 

Date: June 10, 2015

 

 

 

Party B: Northern Altair Nanotechnologies Co., Ltd. (Official Seal)

 

Northern Altair Nanotechnologies Co., Ltd. (seal)

 

Legal Representative (or Authorized Agent): (Signature) 

 

Date: June 10, 2015 

 

 

10/12

 

 

Deposit Contract of Minsheng Financial Leasing

 

Accessory One: Notification of Complementing Deposit (Layout, without the Main Body)

 

 

 

Notification of Complementing Deposit

 

 

 

To: Northern Altair Nanotechnologies Co., Ltd. 

 

 

 

About: Matters related with deposit complement includes in No._________ Deposit Contract

 

According to regulations of Deposit Contract (Number is:________________) signed by our company and your company on ___ (m)___(d), ___(y), the deposit balance of your company is insufficient now and more details are listed in the following table:

 

Unit: RMB Yuan

 

	
Appointed Deposit Amount
	
Existing Deposit Balance
	
Deposit Amount Complemented This Time

	  	  	  

 

Remarks (Presentation of the deduction of the deposit):

 

 

11/12

 

 

Please your company to pay the deposit complemented this time in full amount and in time to the following account of our company before ___ (m) __ (d), ___(y):

 

Opening bank: 

 

Account Name:

 

Bank account:

 

Linkman:

 

Tel:

 

Fax:

 

(Please your company to pay attention, if your company postpones paying or refuse to pay the deposit, our company has rights to prior use any funds, which is paid by your company since the day when this notification is sent out, to deduct liquidated damage caused by postponing paying or refusing to pay the deposit and the deposit amount that should be complemented by your company this time. And if the balance of the deposit is insufficient to sustain for (five) days, our company has rights to discharge Contract for Finance Lease, and your company should assume all consequences and responsibilities caused by this.)

 

It is hereby announced.

 

 

 

 

 

Minsheng Financial Leasing Co., Ltd.              (Official Seal)

 

Legal Representative (or Authorized Agent): (Signature)

 

Date:

 

12/12ex 10-49.htm

 Exhibit 10.49

 

Repurchase Contract for Minsheng Financial Leasing

 

 

 

Repurchase Agreement

 

 

 

 

 

 

 

 

 

Serial number: [MSFL-2014-2953-V-HZ-009)-HG]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Minsheng Financial Leasing Co., Ltd.

 

June 10, 2015

 

 

 

 

 

Repurchase Contract for Minsheng Financial Leasing

 

Contents

 

 

 

	
1. Subject matter of repurchase
	2
	 	 
	
2. Repurchase conditions
	3
	 	 
	
3. Repurchase price
	5
	 	 
	4. Repurchase procedures	5
	 	 
	5. Liability for breach of contract	7
	 	 
	6. Assignment of credit 	7
	 	 
	7. Commitment and guarantee of repurchaser 	7
	 	 
	8. Application of law and dispute resolution	8
	 	 
	9. Validity of agreement	8
	 	 
	10. Validation, change and termination of the agreement	9
	 	 
	11. Appendixes and copies	9
	 	 
	12. Communication	9
	 	 
	13. Signing address	10
	 	 
	14. Other agreements	10
	 	 
	Appendix 1: Repurchase Advice Note (Format text)	12

 

 

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Repurchase Contract for Minsheng Financial Leasing

Repurchase Agreement

 

Party A (Lessor): Minsheng Financial Leasing Co., Ltd.

Domicile: No.3 Building of Financial Centre, No.158, Xisandao Road, Kongxiang Tariff-free Zone, Tianjin

Legal representative: Kong Linshan

Phone: 010-68940066 

Fax: 010-68489378

 

Party B (Repurchaser): Northern Altair Nanotechnologies Co., Ltd.

Domicile: North Dongzhuchang Village, Wuan Town, Wuan City, Handan, Hebei Province

 Legal representative: WEI Guohua

Phone: 0310-5677626 

Fax: 0310-5677980

 

Whereas:

The lessor and the lessee Handan head company of public transport (Hereinafter referred to as "lessee") signed the Contract for Financial Leasing (Hereinafter referred to as Contract for Financial Leasing) with a contract No. of "MSFL-2014-2953-V-HZ-009" in July of 2015. The repurchaser is the vendor of lease hold of contract for financial leasing.

Through friendly negotiation, the lessor and repurchaser come to the following agreement on the repurchasing matters of lease hold under Contract for Financial Leasing.

1. Subject matter of repurchase

1.1 The subject matter of repurchase under this agreement is:

(1) Leased equipment under Contract for Financial Leasing;

(2) The leasing financial claim enjoyed by the lessor on lessee under Contract for Financial Leasing (The leasing financial claim under this agreement means that the leaser collects rent unpaid, other rights of accrued expenses and other contract rights from the lessee).

 

 

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 Repurchase Contract for Minsheng Financial Leasing

2. Repurchase conditions

2.1 If the lessee has the following event of default under Contract for Financial Leasing, the lessor has the right to require the repurchaser to perform repurchase duty:

(1) The whole or part of rents of current period of lessee exceeds 30 natural days;

(2) Serious quality or technical problems exist in the lease hold, but the lessee and repurchaser, through common written confirmation, confirm that it is impossible to achieve leasing purpose;

(3) Any statement or guarantee made to lessor by lessee in Contract for Financial Leasing or the documents related to Contract for Financial Leasing isn't true and comprehensive;

(4) The lessee violates the Article 8 of Contract for Financial Leasing on the ownership of lessor on equipment leasing about the clause that it is not allowed to move away, cover or set the mark of owner, refusing lessor to inspect the leased equipment or voluntarily carrying out connexio, mixing and processing on leased equipment without written consent of lessor, etc., no measures are taken to correct within 10 days after written notice of lessor;

(5) The lessee violates the Article 9 of Contract for Financial Leasing about the regulation of leased equipment possession and use;

(5) The lessee violates the Article 10 of Contract for Financial Leasing about the regulation of leased equipment maintenance and repair, and does not take measures to correct within 10 days after written notice of lessor;

(7) The lessee fails to perform the obligation of effect on insurance according to agreement of Article 12 of Contract for Financial Leasing;

(8) The lessor reasonably believes that the guarantee provided by lessee decreases or losses guarantee credibility or guarantee ability, and the lessee still doesn't provide the guarantee meeting requirement of lessor within 10 days after the lessor informs;

(9) The lessee violates other clauses of Contract for Financial Leasing and still doesn't take measures to correct within 15 days after written notice of lessor;

(10) The lessee, without just cause, definitely shows that he will not perform "Contracts for Financial Lease", or the lessor has unambiguous evidence to prove that the lessee will not perform or cannot perform the contract when the deadline for performance of "Contracts for Financial Lease" comes, however the lessee fails to supplement and provide necessary performance guarantee or the performance guarantee supplemented and provided is insufficient to guarantee the performing of "Contracts for Financial Lease";

 

 

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 Repurchase Contract for Minsheng Financial Leasing

(11) The event of default occurs under any contract signed by lessee and any the third party or the lessee fails to pay the debt under any contract signed by him and the third party, and such status may seriously and unfavorably affects the obligations performed by lessee under "Contracts for Financial Lease", however, the lessee fails to supplement and provide necessary performance guarantee or the performance guarantee is insufficient to guarantee the performing of "performance guarantee";

(12) The change situations including closing, termination of business, production suspending, reduction of capital, division and bankruptcy, etc. happen to the lessee or the lessee stops carrying on business of any main parts, or the lessee proposes the situations including application related to bankruptcy and business closing or the situations are proposed for lessee, or the economic status of lessee shows a substantial deterioration;

(13) The lessee carries out restructuring, mergers and acquisitions, combination, external guarantee or transferring all his or substantial assets, and it has affected the normal performance of contractual debt;

(14) The leased equipment is frozen, detained, executed, sealed up or other situations affecting normal operation of leased equipment occur, and the lessee fails to eliminate the above-mentioned circumstances within 10 working days after the circumstance occurs;

(15) The lessee abnormally and, violating principle of fairness, sell, transfer, rent or handle his business or assets in other ways, or all or any substantial part of property or rights of lessee is confiscated, detained, expropriated, sealed up, compulsively executed or deprived, which causes that the state of operation deteriorates seriously, sufficient to affect the ability to perform "Contracts for Financial Lease" for lessee;

(16) The lessee has any fraudulent conducts in process of performing "Contracts for Financial Lease";

 

 

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 Repurchase Contract for Minsheng Financial Leasing

(17) Other major events probably affecting normal performance of contractual debt happen to the lessee , or the lessee has other behaviors seriously damaging leased equipment and lawful rights and interests of lessor.

2.2 When the particulars of a matter in Article 2.1 of the agreement occur and the lessor requires to perform repurchase obligation, the repurchaser hereon agrees to unconditionally repurchase the leased equipment and leasing financial claim according to repurchase price agreed in Article 3 of the agreement.

3. Repurchase price

3.1 The repurchase price under the agreement is the sum of three amounts as follows:

(1) All matured rents unpaid and all unmatured principal that lessee shall pay under "Contracts for Financial Lease";

(2) The liquidated damages that the lessee shall assume according to agreement of "Contracts for Financial Lease";

(3) The reasonable expenses incurred actually caused by the circumstance that the lessor coordinates with the repurchaser to carry out repurchase matters after he is agreed or entrusted by the repurchaser, including but not limited to the expenses including investigation charges, travelling expenses, lawyer's fee and expense of lawsuit, etc.

3.2 The specific repurchase price is confirmed when the repurchaser performs repurchase obligations and is clearly listed in Repurchase Advice Note (See appendix 1 for more about format).

4. Repurchase procedures

4.1 When the repurchase conditions under the agreement are completed, if the lessor requires the repurchaser to perform repurchase obligation, shall issue the Repurchase Advice Note. The Repurchase Advice Note shall be clearly lised with contents of repurchase matters, repurchase price, calculation basis, and payment term, etc. The lessor shall also notify the repurchase matters to the lessee in writing.

4.2 The repurchaser shall unconditionally pay all repurchase price to the following account within 5 working days after the lessor issues the Repurchase Advice Note:

Account name: Minsheng Financial Leasing Co., Ltd.

Opening bank: Beijing Weigong Village Branch of China Minsheng Banking Co., Ltd.

Bank account: 0121014040000361

 

 

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 Repurchase Contract for Minsheng Financial Leasing

4.3 After the lessor receives all repurchase price of repurchaser, the ownership of leased equipment and leasing financial claim are transferred to the repurchaser, and the Contract for Financial Leasing terminates. If the repurchaser or lessee suffers a loss due to repurchase, they shall voluntarily handle through negotiations and it has nothing to do with the lessor.

4.4 The lessor shall transfer the ownership of leased equipment and leasing financial claim, issue Certificate for Transferring Ownership of Leased Equipment and hand over the document of laws related to the ownership of leased equipment and leasing financial claim within 5 working days after receiving all repurchaser's repurchase price. Such documents' handover shall be deemed to the transfer of the ownership of leased equipment and leasing financial claim. The lessor assumes no responsibility for the physical delivery and transfer of leased equipment and does not make any guarantee on the state and function of leased equipment. The repurchuser agrees to receive unconditionally according to the actual conditions at the scheduled time including the actual location and present condition during repurchasing. The specific delivery matters of leased equipment can be negotiated additionally by the repurchaser and lessee.

4.5 Within the term of lease, derogation and losses happen to the leased equipment, if it belongs to the circumstance in Article 11.2 of "Contracts for Financial Lease" or Article 11.3, however the lessor chooses the ways listed in Clause (2) of Article 11.3 to handle, when the repurchase conditions are completed and the lessor requires to repurchase, the repurchaser shall still perform the repurchase obligation to repurchase the leased equipment and leasing financial claim after replacement according to the agreement.

4.6 Within the term of lease, if the delivery cannot be completed due to derogation and losses of leased equipment or any other reasons, the repurchaser shall still perform repurchase obligation according to the agreement. The repurchase price agreed in Article 3 isn't changed (Unless the lessor has gained compensation from insurance money, at this moment, the part compensated by lessor from insurance money shall be deducted for the repurchase price). Under such circumstance, the lessor only needs to transfer leasing financial claim to the repurchaser without the need for delivery of leased equipment; the repurchaser shall not take the condition that leased equipment cannot be delivered as the counterargument for not performing repurchase obligation.

 

 

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 Repurchase Contract for Minsheng Financial Leasing

5. Liability for breach of contract

5.1 The lessor shall, after the repurchaser has paid the repurchase price, timely handle procedures of transfer of ownership of leased equipment and leasing financial claim according to agreement. If it isn't handled timely according to agreement, shall compensate the direct losses caused to the repurchaser by this.

5.2 The repurchaser doesn't perform the repurchase obligation according to agreement and timely pay repurchase price with full amount when the repurchase conditions are completed, it is deemed to be the breach of contract of repurchaser. The repurchaser shall continue to comprehensively perform repurchase obligation. In addition, he shall also pay the liquidated damages to the lessor according to 5 parts in a million per day of overdue payment unpaid.

6. Assignment of credit

6.1 Within the expiration date of the agreement, the lessor, for the need of financing, has the right to transfer the whole or part of rights in "Contracts for Financial Lease" in ways of including but not limited to factoring, asset securitization and credit asset transfer, etc. to the commercial bank or other financial institutions.

6.2 The repurchaser hereby confirms that such transfer does not affect any rights and obligations of lessee in Contract for Financial Leasing and also does not affect the repurchase obligation of repurchaser under the agreement. No matter how the leasing financial claim is transferred, the repurchaser still has the obligation to perform repurchase obligation to the heir, alienee or successor of lessor.

7. Commitment and guarantee of repurchaser

7.1 The repurchaser promises that his repurchase obligation under the agreement is unconditional and irrevocable, and he shall guarantee to have performed all legal procedures and all other authorization approvals required.

7.2 The repurchaser promises that the repurchase obligation shall be still performed according to the agreement even if the leased equipment is detained and frozen by the organ of power.

 

 

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 Repurchase Contract for Minsheng Financial Leasing

7.3 The repurchase obligations of repurchaser aren't influenced by the following matters or any other matters that shall not be attributed to the lessor:

(1) Name of repurchaser, address, articles, legal representative, business scope and change of nature of enterprise;

(2) Merger, division, termination of business, revocation, dissolution and bankruptcy, etc. happen to repurchaser.

7.4 The heir, alienee or successor of repurchaser are restricted by the agreement and shall assume all responsibilities under the agreement. Without written consent of lessor, the repurchaser shall not transfer any rights and obligations under the agreement.

8. Application of law and dispute resolution

8.1 The rights and obligations of each party under the agreement and items of the agreement apply to the Chinese law and are interpreted according to the Chinese law.

8.2 For the disputes related to the agreement, the lessor and repurchaser shall settle them through friendly consultation according to the contents agreed in the agreement. If they cannot be solved through negotiations, shall apply the regulation of Article 1 as follows:

	
(1)
	
Any party can institute a law suit to the People's Court with right of jurisdiction in Tianjin.

	
(2)
	
Choose___________________________to arbitrate:

	
(3)
	
Others:                                                                                                                                                  

9. Validity of agreement

9.1 The validity of agreement starts from date that it comes into effect and ends at the time that all leasing financial claim of lessor under "Contracts for Financial Lease" are realized.

9.2 The repurchaser hereby promises that, within the validity of agreement, once the repurchase conditions are completed and the lessor requires to perform the repurchase obligations, the repurchaser will unconditionally and comprehensively perform the repurchase obligation under the agreement items, and shall not take the circumstance that there exist other guarantors or guarantee types as grounds of defence.

 

 

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 Repurchase Contract for Minsheng Financial Leasing

10. Validation, change and termination of the agreement

10.1 The agreement is the appendix of "Contracts for Financial Lease". If there exists discrepancy between the agreement and Contract for Financial Leasing, it is deemed to be the change and modification of "Contracts for Financial Lease".

10.2 The agreement comes into effect after the legal representative or authorized agent of both parts of lessor and repurchaser signs and affixes the official seal.

10.3 For all circumstances related to modification, supplement or change on the agreement, shall make in in writing separately, and come into effect after the legal representative or authorized agent of both parties signs and seals. The above-mentioned modification, supplement or change is the indivisible component part of the agreement. Without written consent of other parties, any party shall not transfer any rights and obligations under the agreement or the agreement items.

10.4 Both parties hereby solemnly confirm that, unless otherwise specified in the agreement, any party shall not arbitrarily terminate the agreement in advance.

11. Appendixes and copies

11.1 The appendixes of the agreement include:

Appendix 1: Repurchase Advice Note (Format text)

11.2 The agreement original is in quadruplicate and both parties hold 2 copies. Each one has the same legal effect.

12. Communication

12.1 Various notices, requirements or other communication that shall be made under the agreement items shall be made in writing and be sent to the following address or telex or fax number of parties concerned (Or other addresses, telexes or fax numbers notified to the other party by the addressee 10 days in advance):

To lessor: Minsheng Financial Leasing Co., Ltd.

Addressee: ZHANG Min

Address: Floor 4, Guest Building, Beijing Friendship Hotel, Nanda Street No.1, Zhongguancun, Haidian District, Beijing

Phone: 010-68940066-9712 

Fax: 010-68484326

 

 

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 Repurchase Contract for Minsheng Financial Leasing

To repurchaser: Northern Altair Nanotechnologies Co., Ltd.

Addressee: WEI Guohua

Address: North Dongzhuchang Village, Wuan Town, Wuan City, Handan, Hebei Province

Phone: 0310-5677626 Fax: 0310-5677980

 

12.2 Any notices, requirements or other communications issued to the parties concerned under the agreement items according to the above-mentioned address shall be deemed as service of process:

(1) If they are sent in a form of letter, it shall be deemed to be service of process once it is actually delivered to the relevant address;

(2) If they are sent in a form of telex, it is deemed to be the service of process once the confirmation receipt is sent and received;

(3) If they are sent in a form of fax, it is deemed as the service of process once they are sent out.

13. Signing address

13.1 The signing address of the agreement is Haidian District, Beijing.

14. Other agreements

 

 

 

 

 (There is no main body as follows)

 

 

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 Repurchase Contract for Minsheng Financial Leasing

 

 

 

 

(This page is the signature page without text)

 

 

 

 

 

Lessor (Official seal): Minsheng Financial Leasing Co., Ltd. (Seal)

 

Minsheng Financial Leasing Co., Ltd. Special seal for contractual use (Seal)

Legal representative (Or authorized agent):                   (Signature or seal) 

 

Date: June 10, 2015

 

Repurchaser (Official seal): Northern Altair Nanotechnologies Co., Ltd. (Seal)

 

Northern Altair Nanotechnologies Co., Ltd. (Seal)

Legal representative (Or authorized agent):                        (Signature or seal) 

 

Date: June 10, 2015

 

 

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 Repurchase Contract for Minsheng Financial Leasing

Appendix 1: Repurchase Advice Note (Format text)

 

 

 

Repurchase Advice Note

 

Serial number:

 

____________________________________________(Repurchaser):

 

According to the Repurchase agreement (Contract No.:_________)signed by your company, our company and lessee______________________, your company shall perform repurchase obligations when the repurchase conditions are completed.

 

As the following matters occur________________, according to agreement of Repurchase agreement, the repurchase conditions have been completed and our company now formally requires your company to perform repurchase obligations.

 

Please, after your company remits the repurchase price (RMB__________) to our company account (Account name:________; deposit bank:_______; account number:________) in a lump sum before______Year____Month____Day after receiving the advice note. If your company doesn't pay overdue repurchase price with a full amount, shall pay liquidated damages to our company according to___in a million per day of overdue payment unpaid, please understand.

 

Attach: One copy of details about repurchase price

 

Minsheng Financial Leasing Co., Ltd.                                 (Seal)

 

Legal representative (Or authorized agent):                      (Signature or seal)

 

Date:  

 

 

 

One advice note is copied to               lessee              .

 

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