Document:

English translation of Loan Contract

 Exhibit 10.15 
 Loan Contract (short-term) (the “Contract”) 
 Serial Number:
2009-3 
  

			
	Borrower	  	: Jinko Solar Co., Ltd. (the “Borrower”)
	Business License No.	  	: 361100520000106
	Legal Representative	  	: Li Xiande
	Address	  	: No.1, Jingke Avenue, Shangrao Economic Development Zone
	Post Code	  	: 334000
	Financial Institution for Account Opening and Account Number	  	: Bank of China, Shangrao Branch, 739153091438091001
		
	Tel	  	: 0793-8461399
	Fax	  	: 0793-8461152

  
  

			
		
	Lender	  	: Bank of China, Shangrao Branch (the “Lender”)
	Principal	  	: Wang Ping
	Address	  	: No.43, Shengli Road, Shangrao City, Jiangxi Province
	Post Code	  	: 334000
	Tel	  	: 0793-8300659
	Fax	  	: 0793-8300494

 The Borrower and the Lender (together with the Borrower, the “Parties” and each, a
“Party”) agree that the Lender issues a short-term loan (RMB) to the Borrower and hereby enter into this Contract through equal negotiation. 
 Article 1 Amount of the Loan 
 Amount of the loan: 
 (in words) RMB: 26,000,000 
 (In Arabic numbers) RMB: 

 Article 2 Term of the Loan 
 Term of the loan: 12 months from the actual withdrawal date; for installment withdrawal, 12 months from the first actual withdrawal
date. 
 The Borrower shall strictly comply with the withdrawal date. If the actual withdrawal date is later than the date
stipulated in this Contract, the Borrower shall repay the loan according to the date stipulated in this Contract. 
 Article 3 Purpose 

 The loan herein is intended for the following purposes: Normal enterprise circulating fund. 
 Without the Lender’s written consent, the Borrower shall not divert the loan proceeds, including but not limited to investing the loan
proceeds in stock and other securities, in project forbidden or unauthorized by any laws, regulations, regulatory rules and policies, or in any other project that loan proceeds may not be invested. 
 Article 4 Interest Rate and Interest Calculating and Settlement 
  

	 	1.	Interest Rate 

 The loan interest
rate shall adopts the interest rate in Item (1) below: 
  

	 	(1)	Fixed interest rate with an annual rate of 4.779%. The rate is fixed during the term of this Contract. 

  

	 	(2)	Floating interest rate with a period of    -    months. 

 The rate shall be adjusted every    -    months from the actual withdrawal date (for installment
withdrawal, from the first actual withdrawal date). The interest adjusting date shall be the corresponding day as the actual withdrawal date in the adjusting month; if there is no corresponding day in the adjusting month, then the last day of the
adjusting month shall be deemed as the adjusting date. 
  

	 	A.	The first-term interest rate is the interest rate   -  % floating up/down (alternative) of the loan standard rate in  -  term
issued on the actual withdrawal date by Bank of China. 

  

	 	B.	After one floating period expired, the interest rate of next floating period shall be the interest rate  -  % floating up/down (alternative) of the
loan standard rate at the same level issued by Bank of China on adjusting date. 

  

	 	2.	Interest Calculation 

 The
interest shall be calculated based on actual withdrawal amount and actual borrowing days from the actual withdrawal date. 
 Formula of interests calculation: interests = principal × actual borrowing days × daily interest rate. 
 A
term of 360 days shall be deemed as the calculation base of daily interest rate, and the formula is: daily interest rate = annual interest rate/360. 
  

	 	3.	Interests Settlement 

 The
Borrower shall settle the interests according to the Item (1) as follows: 
  

	 	(1)	Quarterly settlement: the 20th day in the last month of each quarter is the interests settlement date and the 21st day of that month is the interests payment date.

  

	 	(2)	Monthly settlement: the 20th day of each month is the interests settlement date and the 21st day of that month is the interests payment date. 

If the last principal repayment date is not on the interests payment date, the last principal repayment date shall be deemed as the
interest payment date, and the Borrower shall pay all the interests payable. 
  

	 	4.	Penalty Interests 

  

	 	(1)	If the Borrower fails to repay the loan on due date, the overdue penalty interest rate shall apply to the overdue period until all the principal and interests are
repaid. 

 The overdue penalty interest rate is 150% of the interest rate stipulated in Section 1 of Article
4. 
  

	 	(2)	If the Borrower diverts the loan proceeds, the divert penalty interest rate shall apply to the diverted part for the diverted period until all the principal and
interests are repaid. 

 The diverted default rate is 60% more than the interest rate stipulated in Section 1
of Article 4. 
  

	 	(3)	For loan overdue and diverted, the diverted penalty rate shall apply. 

  

	 	(4)	If the Borrower fails to pay the interests on time, the interests shall be settled according to Section 3 of Article 4. If during the loan term, the compound
interests shall be calculated and collected by the interest rate stipulated in Section 1 of Article 4; if the loan is overdue, the compound interests shall be calculated and collected by the penalty interest rate stipulated in Section 4 of
Article 4. 

  

	 	(5)	If the loan interest rate is adjusted, the default interests and compound interests shall be calculated respectively in different interest rate for different periods as
separated by the adjusting date. 

 Article 5 Withdrawal Conditions 
 Withdrawal conditions are as follows: 
  

	 	1.	This Contract and its attachment come into force; 

  

	 	2.	The Borrower provides security interest required by the Lender, and the contract regarding the security interest comes into force and all the legal authorization,
registration and documentation procedures regarding the contract are completed; 

  

	 	3.	The Borrower reserves all the documents, bills, seals, personnel lists and signature samples regarding executing and performing the Contract, and completes all the
relevant certifications; 

  

	 	4.	The Borrower opens an account necessary for performing this Contract required by the Lender; 

  

	 	5.	The Borrower delivers a written application for withdrawal and relevant certificates for usage of loan proceeds 3 banking days before withdrawal, and processes
with relevant withdrawal procedures; 

	 	6.	The Borrower delivers to the Lender the resolutions and authorizations regarding executing and performing this Contract issued by the board of directors or other
authorized departments; 

  

	 	7.	The amount of withdrawal application is within the Lender’s credit quota; 

  

	 	8.	Other withdrawal conditions stipulated by laws or agreed by the Parties. 

 Unless agreed otherwise, if the Borrower fails to meet the aforesaid withdrawal conditions, the Lender may reject the Borrower’s application. 
 Article 6 Withdrawal Time and Manner 
  

	 	1.	The Borrower shall withdraw by the time and manner according to the Item (2) as follows: 

  

	 	(1)	One-time withdrawal on -MM, -DD, -YYYY. 

  

	 	(2)	Withdrawal time: within 15 days after February 15, 2009 

  

	 	(3)	Installment withdrawal by the following time schedule: 

  

			
	Withdrawal time	  	Withdrawal amount
	—  	  	—  
	—  	  	—  
	—  	  	—  

  

	 	2.	If the Borrower fails to withdraw within the aforesaid time, the Lender may reject the withdrawal application of the Borrower. 

 If the Lender agrees to grant the loan, the Lender has the right to collect the undertaking fees, 0.05% of the delayed part; if the Lender
refuses to grant the loan, the Lender has the right to collect the undertaking fees, 0.05% of the non-granted part. 
 Article 7 Repayment

  

	 	1.	The Borrower shall repay the loan under this Contract according to Item 1 as follows, unless otherwise agreed by the Parties: 

  

	 	(1)	Repay the loan fully within the term herein. 

	 	(2)	Repay the loan according to the following repayment schedule: 

  

			
	Repayment time	  	Repayment Amount
	—  	  	—  
	—  	  	—  

 If the Borrower need to change the aforesaid repayment schedule, the Borrower shall
deliver a written application to the Lender 15 banking days in advance of the due date, and the changed repayment schedule is effective upon written confirmation by the Parties. 
  

	 	2.	Unless otherwise agreed by the Parties, if both the principal and the interests are overdue, the Lender is entitled to decide on the sequences for repaying the
principal or the interests; under the condition of installment repayment, if several mature installments and overdue installments exist under this Contract, the Lender is entitled to decide the sequences for repaying any installment; if several
outstanding loan contracts exist between the Parties, the Lender is entitled to decide the sequences for repaying any contract. 

  

	 	3.	Except as otherwise agreed by both Parties, the Borrower can prepay with written notice to the Lender at least 15 banking days in advance. The prepaid amount shall be
used to repay the last mature loan in reverse order. 

 The Lender is entitled to charge compensation 0.05% of the
prepaid loan. 
  

	 	4.	The Borrower shall repay the loan according to the Item (1) as follows: 

  

	 	(1)	The Borrower shall deposit sufficient amount in the repayment account at least 3 banking days of the due date. The Lender is entitled to deduct the repayment amount
from the account 

  

			
	Name of repayment account	 	: Jinko Solar Co., Ltd.
	Account No.	 	:739153091438091001

  

	 	(2)	Other manners for repayment agreed by the Parties: 

 - 

 Article 8 Security Interest 
  

	 	1.	The security interest under this Contract is: 

  

	 	 ̈	Jinko Solar Co., Ltd. provides Mortgage 2009-3 

	 	 ̈	Li Xiande, Chen Kangping and Li Xianhua provide personal unlimited liability guarantee, and execute relevant maximum guarantee contract (Serial Number: 2009
Rao Si E Zi No.1, 2009 Rao Si E Zi No.2, 2009 Rao Si E Zi No.3). 

  

	 	2.	If any event occurs to the Borrower or guarantor, and cause the Lender believe that it may affect the performing capability of Borrower or the guarantor; or the
guarantee contracts are deemed as invalid, withdrawn or released; or the performing capability of the Borrower or guarantor may be affected due to the deterioration in their financial situation, the Borrower and the guarantor are involved in
substantial lawsuit or arbitration and other reasons; or the guarantor breaches the guarantee contracts or other contracts with the Lender; or the collateral value decreases or lost due to the devaluation, damage, lost or closed down of the
collateral; the Lender may require, and the Borrower shall provide new guarantee or change the guarantor under this Contract. 

 Article 9 Representations and Undertakings 
  

	 	1.	The Borrower hereby represents that: 

  

	 	(1)	The Borrower is legally registered and operated, and has the civil legal capacity to execute and perform this Contract; 

  

	 	(2)	The Borrower executes and performs this Contract out of true intension, obtains all legal and effective authorizations required by the Borrower’s articles of
association and bylaws, and is not in violation of any binding agreements, contracts, or other legal documents. The Borrower has obtained or will obtain all the required approval, consent, documentation or registration for executing and performing
this Contract; 

  

	 	(3)	All the documents, financial statements, certifications and other information provided by the Borrower to the Lender under this Contract are true, complete, accurate
and effective; 

  

	 	(4)	The transaction background that the Borrower represents to the Lender is real and legal, not for any illegal purposes such as money laundering;

	 	(5)	The Borrower does not conceal any fact that may affect the Borrower’s and the guarantor’s financial condition or performance capability;

  

	 	(6)	Other items represented by the Borrower:    - 

  

	 	2.	The Borrower hereby undertakes that: 

  

	 	(1)	The Borrower shall deliver the financial statement (including but not limited to annual, quarterly and monthly report) and other relevant documents to the Lender
regularly and timely in accordance with the requirement of the Lender; 

  

	 	(2)	If the Borrower has executed or will execute with the guarantor of this Contract a counter-guarantee agreement or similar agreement regarding its guarantee obligation
under this Contract, this counter-guarantee agreement or similar agreement will not compromise any Lender’s right under this Contract; 

  

	 	(3)	The Borrower shall accept the credit inspection and supervision from the Lender, and provide sufficient assistance and cooperation; 

  

	 	(4)	The Borrower shall inform the Lender timely if any event that may affect the financial condition and performing capability of the Borrower and guarantor occurs to the
Borrower or guarantor, including but not limited to any changes of business forms such as separation, combination, joint operation, joint venture with foreign enterprise, cooperation, contracted management, reconstruction, reorganization of limited
company, planned offering and listing; decrease of registered capital, transfer of substantial assets or equity interest, undertaking of substantial debt; or any new substantial mortgage is set up on the collateral, or the collateral is closed down,
or in dissolution, revocation or involuntary bankruptcy; or involved in substantial lawsuit or arbitration; or any difficulties in operation and deterioration in financial situation; or the Borrower is in violation of any other contracts; if any
aforesaid event will adversely affect the Borrower’s debt repayment capability, the Borrower shall obtain the approval from the Lender in advance; 

	 	(5)	The loan between the Parities is superior to the loan from the Borrower’s shareholders to the Borrower, and shall not be subordinate to any other similar loans
from other lenders to the Borrower; 

  

	 	(6)	If the net profit after tax in relevant fiscal year is zero or negative, or the profit after tax is insufficient to make up the accumulated loss of past fiscal years,
or the profit before tax are not used to discharge any principal, interests, fees payable by the Borrower in the current fiscal year, or the profit before tax is insufficient to repay the principal, interests and fees of the next fiscal year, the
Borrower may not distribute the dividend or bonus to the shareholder in any manners; 

  

	 	(7)	The Borrower shall dispose the assets in a manner that will not reduce its repayment capability. The Borrower undertakes that the total amount of the Borrower’s
external guarantee is equal or less than 50% of its net asset, and the total amount of external guarantee as well as the amount of each guarantee may not surpass the restrictions in articles of association; 

  

	 	(8)	Other items undertaken by the Borrower: The loan proceeds shall only be used for the Borrower’s normal circulating fund, and may not be used to pay any fixed
assets, such as equipment in any manners. All the relevant settlement business under credit facility shall be the dealt by the Lender. Moreover, the settlement share and deposit share of the Borrower shall be no less than the credit facility share
of the Lender. 

 Article 10 Breach and Settlement 
 The Borrower shall be deemed as breach of the Contract under any of the following circumstance: 
  

	 	1.	The Borrower fails to repay the loan according to the stipulations of the Contract; 

  

	 	2.	The Borrower fails to use the loan proceeds in a way stipulated by this Contract; 

  

	 	3.	The Borrower provides an untrue representation or violates the undertaking in this Contract; 

	 	4.	If any circumstance under Item 4 of Section 2 of Article 9 arises, and the Lender believes that may affect the financial condition and performing capability
of the Borrower or guarantor, but the Borrower refuses to provide new guarantee or change a guarantor according to this Contract; 

  

	 	5.	The Borrower violates other stipulations regarding the Parties’ rights and obligations in this Contract; 

  

	 	6.	The Borrower violates other stipulations under other contract between the Borrower and the Lender, or the Borrower and other institutions of Bank of China;

  

	 	7.	The guarantor violates the stipulations of the guarantee contract, or any default events arise under other contract between the guarantor and other institutions of Bank
of China; 

  

	 	8.	The Borrower closes down or is dissolved, withdraw or bankrupted. 

 When the aforesaid breach arise, the Lender may take any or all measures as follows: 
  

	 	1.	Require the Borrower and guarantor to rectify the breach within time limit; 

  

	 	2.	Decrease, suspend or terminate all or part of the credit lines of the Borrower; 

  

	 	3.	Suspend or terminate all or part of the business application (such as withdrawing) of the Borrower under this Contract or other contracts between the Borrower and the
Lender; partly or totally suspend or terminate to grant and transact the unissued loan and trade financing; 

  

	 	4.	Declare that all or part of the unpaid loan/principal and interests of trade financing as well as other account payable of the Borrower under this Contract and other
contracts between the Borrower and the Lender shall become due immediately; 

  

	 	5.	Terminate or withdraw this Contract, partly or totally terminate or withdraw other contracts between the Borrower and the Lender; 

  

	 	6.	Require the Borrower to compensate the Lender for the Lender’s loss caused by the Borrower’s breach; 

	 	7.	Deduct from the Borrower’s account which is opened in the Lender or other institutions of Bank of China with notice before or after the deduction, so as to
discharge all or part of the loan under this Contract. The undue deposit in the account shall be deemed to become due in advance. Any currency in the account differing from the quote currency of Lender shall be converted on the applicable quoted
exchange rate when deducting; 

  

	 	8.	Realize the mortgage or the pledge interest; 

  

	 	9.	Realize the personal guarantee interest; 

  

	 	10.	Other measures deemed necessary by the Lender. 

 Article 11 Reservation of right 
 Any failure to perform all or part of his right under this Contract, or
require the other Party to perform or assume all or part of the obligation and responsibilities shall not be deemed as a waiver of the right or release of the obligation and responsibilities. 
 Any tolerance, grace or postponement for performing the rights under this Contract of one Party shall not affect his rights stipulated by
this Contract, laws and regulations, and shall not be deemed as a waiver of this right. 
 Article 12 Alteration, amendment and termination

 This Contract can be altered and amended in written form through negotiation of the Parties, and any alternation and
amendment shall be deemed as an integral part of this Contract. 
 This Contract may not be terminated until all the rights and
obligations are fully preformed, unless otherwise stipulated in laws and regulations or agreed by the both Parties. 
 Any
invalid terms in this Contract shall not affect the legal validity of other terms, unless otherwise specified in laws and regulations or agreed by Parties. 

 Article 13 Governing law and dispute settlement 
 Any dispute and controversy arising out of execution, performance of or in connection with this Contract may be resolved through negotiation.
In case the negotiation does not reach a resolution, any Party can resolve the dispute and controversy in accordance with Item 2 of the following: 
  

	 	1.	Submit the dispute to    -    arbitration committee for arbitration; 

  

	 	2.	Bring a lawsuit before the people’s court where the Lender or other institutions of Bank of China performing rights and obligations under this Contract and single
contract domicile; 

  

	 	3.	Bring a lawsuit before the people’s court that have jurisdiction over the lawsuit. 

 In the course of dispute settlement, the Parties shall continue to perform other terms of this Contract that are not affected by the dispute.

 Article 14 Fees 
 Unless otherwise provided in laws or agreed by both Parties, the Borrower shall be responsible for all the expenses (including but not limited to attorney fees) arising from execution and performing of this Contract or resolving the dispute
under this Contract. 
 Article 15 Annex 
 The following annexes and other annexes agreed by both Parties are integral parts of this Contract, and have the same legal force with this Contract. 
  

	 	1.	Withdraw Application (Form). 

 Article 16
Miscellaneous 
  

	 	1.	The Borrower shall not transfer any rights and obligations under this Contract to the third party without written consent of the Lender. 

  

	 	2.	 If the Lender entrust other institutions of Bank of China to perform the rights and obligations or have other institutions of Bank of China to
undertake and manage the loan business under this Contract for business need, the Borrower shall agree with the

	 	 
entrustment or undertaking. Other institutions of Bank of China that are authorized by the Lender or that undertake and manage the loan business are entitled to all the rights under this Contract
and may submit any dispute under this Contract to the arbitration committee. 

  

	 	3.	This Contract is legally binding on both Parties and their successors and assignees without prejudice to other provisions of this Contract. 

  

	 	4.	Unless otherwise agreed by the Parties, the addresses provided in this Contract of both Parties shall be deemed as the contact address. If there is an alternation of
the address of one Party, that Party shall notify the other Party in writing immediately. 

  

	 	5.	All the transactions under this Contract are carried out for each Party’s independent benefit. If any Party of the transactions besides the Lender become a related
party of the Lend according to relevant laws, regulations and regulatory requirements, no Party may seek to affect the fairness of the transactions out of this related-party relationship. 

  

	 	6.	The title and business name in this Contract is used only for convenient reference, which shall not be used to interpret the terms or the rights and obligations of both
Parties. 

 Article 17 Effectiveness of the Contract 
 This Contract shall come into force from the date of signing and sealing by legal representatives (principals) or authorized signatories of
the Parties. 
 This Contract is in quintuplicate. Each Party holds two copies and the mortgage register holds the
one copy. Each copy has the same legal force. 
  

			
	Borrower: Jinko Solar Co., Ltd.	 	Lender: Bank of China, Shangrao Branch
		
	Seal: /s/ Jinko Solar Co., Ltd.	 	Seal: /s/ Bank of China, Shangrao Branch
		
	Date: February, 2009	 	Date: February, 2009English translation of Maximum Amount Pledge Contract

 Exhibit 10.18 
 ABCS (2007)2013 
 Maximum Amount Pledge Contract 
 Contract No.: 36903200900000002 
  

																							
	Pledgee (full name)	  	:  Agricultural Bank of China	  	       Shangrao Branch

  

							
	Pledgor (full name)	 	:  (1)	 	 Jinko Solar Co., Ltd.

			
		 	   (2)	 	  

			
		 	   (3)	 	  

 Whereas, the Pledgor (together with the Pledgee, the “Parties”, and each, a
“Party”) is willing to provide the maximum amount pledge to any creditor’s right arising from the contract entered into under Article One of this maximum amount pledge contract, (the “Contract”, and the contract entered into
under Article One of this Contract, the “Principal Contract”) by and between the Pledgee and Jinko Solar Co., Ltd. (the “Debtor”) in accordance with the relevant PRC laws and regulations. 
 Article One Principal Creditor’s Right and the Maximum Amount 
  

	1.	The Pledgor agrees to provide guarantee for the creditor’s rights arising between the Pledgee and Debtor with the maximum amount of equal to RMB one hundred and
sixty nine million, one hundred and sixty thousand. Foreign currency shall be converted as per the selling rate on the day of operation as stipulated in Item (1) of this Article. 

  

	 	(1)	From January 13, 2009 to January 12, 2011 the Pledgee shall handle the creditor’s right arising from various operations agreed with the Debtor
and this term shall be the term during which the maximum amount of guaranteed creditor’s rights shall be defined. The aforesaid banking businesses are as follows ( those in “ü” are taken
as final): 

  

									
	Ö	 	RMB/foreign currency payment	 		 	
	 ̈	 	Issuance of reduction or in exemption from deposit	 		 	
	 ̈	 	Outward packing credit	 	 ̈	 	Commercial draft discount
	 ̈	 	Inward documentary bills	 	Ö	 	Letter of guarantee of the bank
	 ̈	 	Trade acceptance	 	 ̈	 	Outward documentary bills
	 ̈	 	Other operations	 	     N/A

	 	(2)	The creditor and the Debtor have entered into the following Principal Contracts. The principal, relevant interests, penalty interests, compound interests and expenses,
etc. of outstanding debt under the Principal Contract entered by and between the creditor and the Debtor are as follows; wherein the interests, penalty interests, compound interests and expenses shall be calculated until the actual repayment date
and according to the method stipulated in the relevant Principal Contract: 

  

							
	 Contract name
	  	 Contract No.
	  	 Unpaid principal
	  	 Currency

	 —  
	  	—  	  	—  	  	—  
	 —  
	  	—  	  	—  	  	—  
	 —  
	  	—  	  	—  	  	—  

 (Add sheet in case of inadequate space in the table; these sheets shall be deemed
integrate parts of this Contract.) 
  

	2.	The kind, amount, time period, interest rate etc. of each banking business guaranteed by this Contract are subject to the relevant legal documents or evidence.

  

	3.	The Pledgee do not need to deal with all guarantee procedures while granting loans stipulated in the Contract or other bank credit on the condition that such loans and
credit are within the term and maximum amount stipulated in this Contract. 

  

	4.	If the banking business is within the term and maximum amount herein, whichever currency it is, the Pledgee shall bear the guarantee liabilities in original currency.

 Article Two Scope of the Pledge 
 The scope of the pledge guarantee covers the principal, interests, penalty interests, compound interests, liquidated damages, damage awards, and litigation(arbitration) cost, attorney fees, disposal
charges, custodial fees, transfer fees and other expenses associated with the pledge. 
 The Pledgor agrees to bear the responsibility for the
part of the guarantee that exceeds the maximum amount resulting from the change of exchange rate. 

 Article Three The Collateral 
  

	 	1.	The Pledgor agrees to pledge the inventory. Please refer to the collateral list for details(list name and number) the collateral list, NO.
36903200900000002-1. This collateral list is a part of, and has the same legal effect as, this Contract. 

  

	 	2.	The collateral is temporarily evaluated as RMB ( two hundred and forty one million, six hundred and seventy thousand, nine hundred and fifty yuan); the final
value shall subject to the actual value when disposing the collateral. 

 Article Four Undertakings of Pledgor 

 

	1.	The Pledgor has acquired the necessary authorization to obtain the guarantee required by this Contract in accordance with relevant regulations and procedures.

  

	2.	The Pledgor has full and non-disputable legal title and disposal right of the collateral. 

  

	3.	The collateral may be circulated or transferred legally. 

  

	4.	The collateral is not subject to any seizure, sequestration, monitoring or concealed defect. 

  

	5.	The Pledgor shall disclose facts concerning defaulted tax or mortgage interest on the collateral. 

  

	6.	The Pledgor has acquired consent from the joint-owner of the collateral with respect to the pledge herein. 

  

	7.	During the pledge period, the Pledgor shall immediately notify the Pledgee in writing under the following circumstances: 

  

	 	(1)	The Pledgor’s business license is withdrawn or revoked, the Pledgor is closed down by order, or other dissolution issues arise. 

  

	 	(2)	The Pledgor files for bankruptcy, restructuring, reconciliation, dissolution, or is applied for involuntary bankruptcy and restructuring. 

  

	8.	There are no other fact on the collateral that may affect Pledgee’s right. 

 Article Five Effectiveness of Pledge 
 The effectiveness of the pledge extends to the subordinate object, subordinate right, subrogation object, attached object, mixtures, processed object, fruits of the collateral and other property or right
stipulated by laws and regulations. 
 Article Six Delivery and Maintenance of the collateral 
  

	1.	The Pledgor shall, within 10 days from signing this Contract, deliver the collateral (including the subordinate object), together with relevant certificate of
title and the documents for maintenance to the Pledgee. The Pledgor shall, within 1 day from signing the Contract, register in the relevant authorities if the registration is require. The originals of the registration certification shall be
held by the Pledgee. 

  

	2.	During the pledge period, the collateral shall be maintained properly by the Pledgee, or by the third party authorized by the Pledgee. The Pledgor shall bear the costs
of the maintenance. 

  

	3.	During the pledge period, the Pledgor may not, without Pledgee’s written consent, confer, transfer, pledge or dispose the collateral. The consideration acquired by
the Pledgor through transfer or other disposal of the collateral with the Pledgee’s written consent, shall be used for the early repayment of guaranteed debt or placed in escrow. 

  

	4.	During the pledge period, if the collateral is damaged, lost, expropriated etc. the Pledgor is entitled to seek preferential repayment from insurance, compensation or
indemnification, etc. If the guaranteed debt is not outstanding, the Pledgee may seek the early repayment of guaranteed debt or the have the money placed in escrow. 

  

	5.	During the pledge period, where the collateral is destructed or the value of the collateral depreciates, the Pledgee may require the Pledgor to restore the value of
collateral or provide a guarantee equal to the reduced value acknowledged by the Pledgee, if the destruction or depreciation is not attributable to the Pledgee. 

 Article Seven Collateral Insurance 
  

	1.	The Pledgor shall insure the collateral as required by the Pledgee and designate the latter as the first beneficiary of that insurance. The originals of insurance
policy shall be held by the Pledgee. 

	2.	The insurance fees shall be borne by the Pledgor. The Pledgor shall pay any outstanding premium promptly and perform other obligations under the insurance contract,
including the insurance certificate or other documents (the “Insurance Contract”). In the event that the Pledgor fails to pay insurance premium or renew the insurance policy during the pledge period, the Pledgee may pay on behalf of the
Pledgor or deal with insurance (or renew) procedures, the relevant expenses of which shall be borne by the Pledgor. The Pledgor agrees that the Pledgee shall be entitled to deduct the aforesaid expenses from Pledgor’s account opened at the
Pledgee. 

  

	3.	During the pledge period, the Pledgor shall not, without Pledgee’s written consent, unilaterally or consult with the insurer to, modify, cancel or terminate the
Insurance Contract; or waive the right to claim insurance benefit or the right to claim for compensation from the third party. 

  

	4.	During the pledge period, the Pledgor shall promptly inform the insurer and Pledgee, and deal with claim issues in the event that any insured event occurs to the
collateral. Any losses of Pledgee resulting from the delayed notification or claim by the Pledgor shall be compensated by the Pledgor. 

 Article Eight Transfer of the Pledge 
  

	1.	Before the vesting of the creditor’s right under the maximum amount pledge guarantee herein, the Pledgee may transfer the corresponding pledge right when
transferring part of the creditor’s right. 

  

	2.	After the vesting of the creditor’s right under the maximum amount pledge guarantee herein, the Pledgee may choose not to transfer the corresponding pledge right
when transferring part of the creditor’s right. 

 Article Nine Vesting of the Guaranteed Creditor’s Right

 The creditor’s right under the maximum amount pledge herein shall vest upon the occurrence of the following circumstances:

  

	1.	Expiration of vesting period: this “expiration” includes the expiration of vesting of creditor’s rights stipulated in Article One of this Contract, and
other accelerated vesting conditions declared by the Pledgee according to relevant laws, regulations or this Contract. If the Debtor breaches the obligation stipulated in the Principal Contract or this Contract, the Pledgee shall be entitled to
declare the accelerated vesting of the creditor’s right. 

	2.	New creditor’s right is impossible to occur. 

  

	3.	The collateral is seized or sequestrated. 

  

	4.	The Debtor or the Pledgor declare bankruptcy or is revoked. 

  

	5.	Other situations in which the creditor’s right may vest as specified by relevant laws and regulations. 

 Article Ten Realization of the Pledge Right 
  

	1.	Under any of the following circumstances, the Pledgee may exercise the pledge right, discount the collateral to offset the debt, or seek preferentially repayment from
the auction sale or sale proceeds of the collateral. If the proceeds do not fully discharge the debt, the Pledgee may apply the proceeds to repay principal, interests, penalty interests, compound interests or expenses, and etc. at his discretion:

  

	 	(1)	The Pledgor does not repay the debt upon expiration of any of the Principal Contract. “Expiration” includes the expiration of term under the Principal
Contract, and other accelerated term declared by the Pledgee according to relevant laws, regulations or the Principal Contract. 

  

	 	(2)	The Debtor or the Pledgor’s business licenses are revoked or canceled, the Debtor or the Pledgor is closed down or other dissolution issues arise;

  

	 	(3)	The Debtor or the Pledgor applies for bankruptcy or settlement which approved by the people’s court; 

  

	 	(4)	The Debtor or the Pledgor dies or is declared missing/dead; 

  

	 	(5)	The collateral is seized, sequestrated, controlled or under other enforcement measures; 

  

	 	(6)	The collateral is damaged, lost or expropriated, which is not attributable to the Pledgee; 

  

	 	(7)	The Pledgor fails to restore the value of the collateral or provide correspondingly guarantee according to the requirements of the Pledgee; 

  

	 	(8)	The Pledgor violated obligations under this Contract; 

	 	(9)	Other matters may substantially affect the realization of pledge right. 

  

	2.	If there are two or more guarantors (including the guarantee provided by the Debtors) for the creditor’ rights guaranteed by this Contract, the Pledgee may realize
his right on any or all of these guarantee interest. 

  

	3.	If the Pledgor is a third party other than the Debtor, and the Debtor provides collateral for the creditor’s right under the Principal Contract, then if the
Pledgee waives the collateral right, change the sequence of collateral right or the change of the collateral right provided by the Debtor, the Pledgor agrees to continue to provide the collateral for the creditor’s right under the Principal
Contract in accordance with this Contract. The “collateral right” is a collateral provided by the Debtor to guarantee the creditor’s right under the Principal Contract. 

 Article Eleven Return of the Collateral 
  

	1.	The Pledgee shall return the collateral promptly if the Debtor repays or the Pledgor discharges all the debt under the Principal Contract. 

  

	2.	The Pledgor shall promptly receive and accept the collateral returned by the Pledgee. If the Pledgor refuses to accept the collateral, the Pledgee may place the
collateral in escrow, the expense of which shall be borne by the Pledgor; if the Pledgor delays in accepting the collateral, any losses due to the delay shall be borne by the Pledgor. 

 Article Twelve Liabilities for Breach of Contract 
  

	1.	The Pledgor shall pay to the Pledgee a penalty amount to 10  % of the highest balance of the creditor’s rights guaranteed by this Contract, and
the Pledgee shall be compensated in full for any resulting losses under the following circumstances: 

  

	 	(1)	The Pledgor fails to obtain legal and valid authorization required for the guarantee of this Contract; 

  

	 	(2)	The Pledgor fails to truthfully disclose any taxes in default, or that the collateral is subject to joint-ownership, dispute, other mortgage, seizure, sequestration,
monitoring, etc.; 

  

	 	(3)	The Pledgor fails to deliver the collateral or accomplish the registration according to the stipulations of this Contract; 

	 	(4)	The Pledgor disposes the collateral without the Pledgee’s written consent; 

  

	 	(5)	The Pledgor fails to restore the value of the collateral or provide corresponding guarantee according to the Pledgee’s requirement; 

  

	 	(6)	Other factors violating the terms of this Contract or affecting the Pledgee’s realization of pledge rights. 

  

	2.	Any Pledgee’s losses resulting from the concealed defect of the collateral shall be compensated by the Pledgor. 

  

	3.	Any Pledgor’s losses resulting from the destruction, lost of the collateral due to the insufficient maintenance of the Pledgee shall be compensated by the Pledgee.

 Article Thirteen Expenses 
 The collateral expenses associated with insurance, verification, delivery, management, registration, notarization, placement in escrow etc. under this Contract shall be borne by the Pledgor. 

Article Fourteen Dispute Settlement 
 The
disputes that arise during the performance of this Contract shall be settled through negotiation or by Item (1) of the following: 
  

	1.	Litigation, shall be brought to the people’s court where Pledgee domiciles. 

  

	2.	Arbitration. The Parties shall submit to    -    (full name of the arbitration committee) for arbitration in accordance with
that committee’s arbitration rules. 

 During the litigation or arbitration period, terms of this Contract that are not in
dispute shall still be fulfilled. 

 Article Fifteen Miscellaneous 
  

	1.	The Pledgor shall take the initiative to know the operation status of the Debtor and the occurrence together with fulfillment status of each business under this
Contract. The Principal Contract and relevant legal documents under this Contract do not need to be delivered to the Pledgor. 

  

	2.	The management of the collateral shall be in conformity with the provisions of “the Agreement on Management of the Collateral between the Agricultural Bank of
China Shangrao Branch and Jinko Solar Co., Ltd”. 

 Article Sixteen Effectiveness of Contract 
 This Contract comes into effect upon the signing or sealing of the Parties. 
 Article Seventeen This Contract is in quadruplicate. Each of the Pledgor, Pledgee, Debtor and the Legal Affair Bureau of Shangrao County holds one copy. Each copy has the same legal
force. 
 Article Eighteen Note 
 The Pledgee has brought to the Pledgor’s attention to all the terms of this Contract in relation to the comprehensive and accurate of its content, and has interpreted relevant terms as required by the Pledgor. The Parties have the same
understanding on this Contract. 
  

			
	Pledgee (stamp)	 	Pledgor (stamp)
	/s/ Agricultural Bank of China	 	
	Principal or authorized agent	 	Legal representative or authorized agent
		
	Pledgor (stamp)	 	Pledgor (stamp)
	/s/ Jinko Solar Co., Ltd.	 	
	Legal representative or authorized agent	 	Legal representative or authorized agent

 Date of signature: January 13, 2009 
 Place of signature:     Agricultural Bank of China, Shangrao Branch 
 The Debtor hereby acknowledges that the Debtor has received the Maximum Amount Pledge Contract and has no objections to all the terms. 

	
	Debtor (stamp)
	/s/ Jinko Solar Co., Ltd.
	Legal representative or authorized agent

 Date of receipt: January 13, 2009

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