Document:

exv10w15

10.15 Loan Agreement, dated April 15, 2011, between Shandong Xiangrui and

China Merchant Bank, Jinan Branch, for RMB 10 million

	•	 	Main contents:

	 	•	 	Contract No.: 2011 Nian Zhao Ji 60 Zi No. 21110402

	 	•	 	Execution Date: April 15, 2011

	 	•	 	Loan Amount (RMB): RMB 10,000,000 Yuan

	 	•	 	Purpose of the Loan: turnover of current capital

	 	•	 	Contract Term: 6 months, from April 15, 2011 to October 14, 2011

	 	•	 	Interest Rate:

	 	•	 	
The annual interest rate is 7.02%;

	 	•	 	Penalty interest rate for delayed repayment: annual interest rate plus
50%;

	 	•	 	Penalty interest rate for embezzlement of loan proceeds: annual interest
rate × 2;

	 	•	 	Rights and Obligations of the Lender:

	 	•	 	Lender is entitled to get the information such as Borrower’s operation,
financial activities, inventory and loan usage. Lender could require
disclosure of Borrower’s financial status.

	 	•	 	Lender can cease to lend the loan or withdraw the loan before the due
date in the situation caused by Borrower which would be detrimental to the
safety of the loan.

	 	•	 	When withdrawing the principal and relevant fees on due or before the due
date, Lender could obtain the money from Borrower’s account directly.

	 	•	 	In the event of breaches of the agreement by Borrower, Lender can
disclose Borrower’s breaches of the agreement publicly when the Borrower do
not performance his (her) obligations.

	 	•	 	Lender shall disburse the loan in a timely manner pursuant to the
agreement.

	 	•	 	Rights and obligations of the Borrower

	 	•	 	Borrower is entitled to obtain and use the loan pursuant to the
agreement.

	 	•	 	Borrower shall make the balance of the loan through the contracted
account pursuant the agreement.

	 	•	 	Borrower shall complete the relevant procedure when the loan is a foreign
currency loan.

	 	•	 	Borrower shall return the principal and interests timely. Borrower can
extend the term of the loan when getting the consent of Lender pursuant to
the agreement.

	 	•	 	Borrower must make the usage of the money in conformity with the purpose
of the loan contracted in the agreement.

	 	•	 	Borrower should inform the relevant financial information to Lender
monthly and cooperate with Lender for the investigation of the loan.

 

 

 

	 	•	 	When Borrower’s conduct may be probably detrimental to the debt
relationship within the loan agreement, the conduct could only be valid when
a written notification has been informed to Lender in advance to get the
consent of Lender and the Borrower has made a promise on clearing liability
under the agreement.

	 	•	 	Consent of Lender should be obtained when any of the Borrower’s
guaranties or mortgages on his (her) major assets for a third party is
possible to be detrimental to Borrower’s capability of repayment under the
agreement.

	 	•	 	Borrower and his (her) investors shall not spirit the money, transfer the
assets or alien the shares to evade the obligations to Lender pursuant to
the agreement.

	 	•	 	A written notification should be informed to Lender when there is any
alternation of Borrower’s name, legal representative, address and business
scope.

	 	•	 	When the guaranty capability of Guarantor under the agreement or the
value of any mortgaged items under the agreement get detriment, Borrower
should offer other guaranty or mortgage accepted by Lender timely.

	 	•	 	Borrower bears the relevant fees under the agreement.

	 	•	 	Prepayment of the Loan:

	 	•	 	Lender’s consent should be obtained if Borrower is willing to prepay the
loan. The interest rate of prepayment shall accord with the agreement.

	 	•	 	Liabilities of Breach of Contract:

	 	•	 	Damages, penalty interest for delayed repayment; penalty interest for
embezzlement of loan proceeds; imposition of compound interest; withdrawal
of loan, prepayment of principal and interest before maturity, attachment of
assets; lawyer’s fee and travel cost in case of litigation or arbitration
due to the Company ’s breach of contract etc.

	•	 	Headlines of the articles omitted

	 	•	 	Types of the loan

	 	•	 	Clearing of the loan interest

	 	•	 	Condition precedent to the drawing of the loan

	 	•	 	Dispute settlement

	 	•	 	Miscellaneous

	 	•	 	Effectiveness

	 	•	 	Validity

	 	•	 	Attentionexv10w16

10.16 Irrevocable Maximum Guarantee Letter, dated April 15, 2011, issued to

China Merchant Bank, Jinan Branch, by Shandong Runyin Bio-chemical, for a RMB 10

million loan

	•	 	Main Contents

	 	•	 	Contract No.: 2011 Nian Zhao Ji 60 Bao Zi No. 21110403

	 	•	 	Execution Date: April 15, 2011

	 	•	 	Guarantor: Shandong Runyin Bio-chemical;

	 	•	 	Loaner: China Merchants Bank, Jinan Branch;

	 	•	 	Borrower: Shandong Xiangrui Pharmacy Co., Ltd

	 	•	 	To ensure the performance of the borrower’s obligations and the
effectuation of the loaner’s rights under the Credit Extension Agreement (Ref. 2011
Nian Zhao Ji 60 Zi No. 21110403) (Hereafter as “main contract”) entered between and
by the borrower and the loaner dated April 15, 2011, the guarantor willing to bear
the joint responsibility of guaranty as the maximum of RMB 10,000,000 Yuan from April
15, 2011 to April 14, 2012 under the main contract.

	 	•	 	Type of the guaranty: The guaranty is a joint responsibility guaranty.

	 	•	 	Term of guaranty: The term of the guaranty responsibility is two years
after the expired date of each specific credit extension term.

	 	•	 	Guaranty scope: The guaranty scope is the principal, interest, expense,
default interest, damage, penalty, and other cost under the main contract as the
maximum of RMB 10,000,000 Yuan, includes but not limits to fees of suit, fees of
arbitration, fees of attachment, fees of assessment, fees of auction, fees of
enforcement, fees of legal service.

	•	 	Headlines of the articles omitted

	 	•	 	Independence

	 	•	 	The commitment of the guarantor

	 	•	 	Abstention

	 	•	 	Dispute Settlement

	 	•	 	Nomenclature

	 	•	 	Notice

	 	•	 	Effectiveness

	 	•	 	Transaction of the loan

	 	•	 	Miscellaneousexv10w17

10.17 Irrevocable Maximum Guarantee Letter , dated April 15, 2011, issued to China

Merchant Bank, Jinan Branch, by Mr. Xuchun Wang , for a RMB 10 million loan.

Ref. 2011 Nian Zhao Ji 60 Bao Zi No. 21110403

Guarantor: Wang Xuchun

Loaner: China Merchants Bank, Jinan Branch

Borrower: Shandong Xiangrui Pharmacy Co., Ltd

To ensure the performance of the borrower’s obligations and the effectuation of the loaner’s rights
under the Credit Extension Agreement (Ref. 2011 Nian Zhao Ji 60 Zi No. 21110403) (Hereafter as
“main contract”) entered between and by the borrower and the loaner dated April 15, 2011, the
guarantor willing to bear the joint responsibility of guaranty as the maximum of RMB 10,000,000
Yuan from April 15, 2011 to April 14, 2012 under the main contract.

1. The Guaranty Contract is a Maximum Irrevocable Guaranty Contract.

1.1 The loaner could provide the loan to the borrower step by step and could grant other credit
extension to the borrower during the term of the main contract. Each loan under the main contract
shall be use for the specified purpose stipulated in each loan agreement.

1.2 The guarantor shall bear the joint responsibility in the guaranty scope when the Credit
Extension Agreement expired. The guarantor shall bear the joint responsibility in the guaranty
scope when the borrower is required to repay the loan by the loaner according to the main contract.

1.3 Any alteration of the main contract entered by the borrower and the loaner would be effective
without any permission of the guarantor or any notice to the guarantor. The guarantor’s joint
responsibility would not be influenced by the alteration.

1.4 Any alteration of the draft and letter of guarantee would be effective without any permission
of the guarantor or any notice to the guarantor. The guarantor’s joint responsibility would not be
influenced by the alteration.

2. Guaranty scope

The guaranty scope is the principal, interest, expense, default interest, damage, penalty, and
other cost under the main contract as the maximum of RMB 10,000,000 Yuan, includes but not limits
to fees of suit, fees of arbitration, fees of attachment, fees of assessment, fees of auction, fees
of enforcement, fees of legal service.

3. Type of the guaranty

The guaranty is a joint responsibility guaranty.

4. Term of guaranty

The term of the guaranty responsibility is two years after the expired date of each specific
credit extension term.

 

 

 

5. Independence

The guaranty contract is independent, valid, irrevocable and unconditional. The guaranty contract
will still be effective even if any of other guarantees for the main contract was relieved.

6. The commitment of the guarantor

6.1 The guarantor has complete capacity under the PRC legislation and is available to offer
guaranty for others as guarantor.

6.2 The guarantor has valid rights on his properties and the incomes and is competent to bear the
responsibility of guaranty, without any bad credit record or any criminal record. The
responsibility of guaranty shall not be lighten or avoid in the condition that the guarantor’s
financial situation deteriorates or the guarantor enters into any contract with any other parties.

6.3 The guarantor knows and agrees all articles in the main contract. The guaranty is offered by
the guarantor voluntarily and the guarantor’s declaration of will is real.

6.4 The guarantor commits that the aggregate amount of external guarantee would limited to the sum
of the property owned by the guarantor until the guaranty contract expires.

6.5 The guarantor commits to inform the financial statement and the important decisions and
alterations on the guarantor’s financial situation timely.

6.6 The guarantor commits that the financial statement and other files are all real and valid

6.7 The guarantor commits to issue the conformation letter as the loaner required.

6.8 Any alteration of the guarantor’s registration, organization structure, equity structure,
management method and financial situation and any debt restructuring, major related transactions
and others, would not affect the effectiveness of the guaranty contract. The guarantor shall notice
the loaner timely if the guaranty ability of the guarantor is deteriorated by any alteration
aforesaid.

6.9 All successors of the guarantor are bound by the guaranty contract as well. The obligations of
the guarantor under the guaranty contract could only be transferred under the loaner’s approval.

6.10 The loaner is entitled to take the money from the account of the guarantor directly when the
guarantor do not performance the obligations under the guaranty contract until the loan is fully
paid off.

7. Abstention

In the valid term of the guaranty contract, any tolerant or moratorium of loaner shall not be
deemed as abstention of the loaner to take action towards breach of the contact, under the guaranty
contract.

8. Dispute Settlement

The parties all agreed that any dispute on the guaranty contract would be settled in the method
which stipulated in the main contract.

 

 

 

9. Nomenclature

Each nomenclature used in the guaranty contract has the same understanding with which used in the
main contract except specific explanation.

10. Notice

Any notice between the loaner and the guarantor shall be made in written. The notice send by the
specific person shall be deemed as received when the addressee signed. The notice send by post
letters shall be deemed as received 7days after mailed. The notice send by fax shall be deemed as
received when the receiver’s fax system receives the fax.

The guarantor shall notice the loaner timely when the address of the guaranty is changed. If not,
the guarantor shall bear the possible cost occurred on.

11. Effectiveness

The guaranty contract comes to effect since the date that it is signed by the guaranty, and the
loaner.

12. Transaction of the loan

12.1 When the loaner’s rights under the main contract are transferred to a third party, the rights
of the loaner under the guaranty contract are transferred to the third party as well.

12.2 When part of the loaner’s rights under the main contract are transferred to a third party, the
relevant benefits of the loaner under the guaranty contract are transferred to the third party as
well.

13. Miscellaneous

All the explanation of the articles in the guaranty contract has been noticed by the loaner to the
guarantor to understand the meaning of the articles fully and exactly. There is no
misrepresentation on the articles of the guaranty contract.

Execution Date: April 15, 2011

Loaner: China Merchants Bank, Jinan Branch

Guarantor: Wang Xuchun

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