Document:

Number: HHHT(2012)ZGZRRBZ0052

 

 

 

 

 

Maximum Amount Guarantee Contract

 

(Natural
Person as Guarantor)

 

 

(Brief Summary Translation)

 

 

 

 

 

 

 

 

 

 

 

 

China
Everbright Bank

 

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Table
of Contents

 

	Article I  Generals	 	 	4	 
	Article II  Definitions	 	 	4	 
	Article III  Master Debt Claim under the Guarantee	 	 	4	 
	Article IV  Method of the Guarantee	 	 	4	 
	Article V  Scope of the Guarantee	 	 	4	 
	Article VI  Term of the Guarantee	 	 	5	 
	Article VII  Documents That Must Be Provided by the Guarantor	 	 	5	 
	Article VIII The Guarantor’s Representations and Warranties	 	 	5	 
	Article IX The Guarantor’s Promises	 	 	6	 
	Article X Nature and Effect of the Guarantee	 	 	6	 
	Article XI Nature and Effect of the Guarantee	 	 	6	 
	Article XII Others	 	 	7	 
	Article XIII Governing Law and Resolution of Dispute	 	 	8	 
	Article XIV  Effectuation, Revision and Dissolution of the Contract	 	 	8	 
	Article XV  Attachments	 	 	8	 
	Article XVI Supplementary Provisions	 	 	8	 

 

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Maximum
Amount Guarantee Contract

 

(Natural
Person as Guarantor)

 

	Guarantor:	YI Ping
	ID Card Number:	 
	Address:	 
	Current Address:	 
	Postal Code:	 
	Telephone:	 
	Fax:	 
	Entrusted Agent:	 
	(Need to provide Power of Attorney signed by the Guarantor)
	Address:	 
	Current Address:	 
	Postal Code:	 
	Telephone:	 
	Fax:	 
	 	 
	Credit Grantor:	China Everbright Bank Holdings. Co., Ltd., Hohhot Branch
	Address:	78 Xinhua Road East, Saihan District, Hohhot
	Postal Code:	010020
	Legal Representative:	ZHANG Ling
	Authorized Agent:	HUANG Zhangren
	Processing Person:	 
	Telephone:	 
	Fax:	 

 

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Article
I Generals

 

To ensure the performance of the Comprehensive
Credit Facility Agreement (Contract Number: HHHT(2012)ZHSX0058) (the "Agreement"), dated April 28, 2012, entered into
between Inner Mongolia Yongye Nongfeng Biotech Co., Ltd. ("Grantee") and the Credit Grantor ("Grantor"), the
Grantor agrees to accept the guarantee provided by the Guarantor and the two parties have entered the guarantee contract as below.

 

 

Article
II Definitions

 

1.The terms used herein shall have the following definition,
unless otherwise indicated.

 

Master Contract: means the “Comprehensive
Credit Facility Agreement” between the Grantor and the Grantee and each of the specific credit service contracts entered
into pursuant to the “Comprehensive Credit Facility Agreement” for specific businesses.

 

Specific Credit Service Contract: means
each of the specific credit service contracts entered into between the Grantor and the Grantee at the time when the Grantor provides
foreign currency loan, trade financing, discount service, acceptance note, letter of credit, letter of guarantee, factoring service
or guarantee (“Specific Credit Services”).

 

Article III Master Debt Claim under
the Guarantee

 

2.The master debt claim under the guarantee by the Guarantor
is the claim to all the debts derived from all specific credit service contracts and, the balance of the master debt claim under
the guarantee is RMB 100,000,000.00.

 

Article IV Method of the Guarantee

 

3.The guarantee provided by the Guarantor hereunder
is several-liability guarantee.

 

Article V Scope of the Guarantee

 

4.The scope of the guarantee hereunder includes: all
outstanding debt principal payable under the Master Contract, interests, compound interests, processing fees, default damages,
fees in connection with realizing debt claims (including but not limited to litigation, legal, certification and enforcement fees)
and other fees payable (collectively, “Guaranteed Debts”).

 

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5.The Grantor’s documents evidencing guaranteed
debts are conclusive and binding to the Guarantor, unless there are obvious errors therein.

 

Article VI Term of the Guarantee

 

6.The term of the guarantee for each of the specific
credit service under the “Comprehensive Credit Facility Agreement” is calculated individually, each for a period of
two years starting from the expiration of the period for the Grantee to perform its debt obligations.

 

Article VII Documents That Must Be
Provided by the Guarantor

 

7.Before the Grantee can use any specific credit service
under the Master Contract, the Grantor must have received the following documents provided by the Guarantor:

 

7.1Duly executed original of this contract;

7.2The Guarantor’s ID documents;

7.3 Certification of the Guarantor’s assets or other documents of credit evidence;

7.4 Other documents reasonably requested by the Grantor.

  

Article VIII The Guarantor’s Representations and
Warranties

 

8.The Guarantor hereby makes
the following representations and warranties to the Grantor:

 

8.1The Guarantor is a natural person with complete ability
for civil activities and has the complete qualification and power to execute and perform this contract and to bear civil responsibilities.

8.2The Guarantor has carefully read, fully understands
and accepts the contents herein and the execution and performance of this contract is voluntary; the Guarantor acknowledges that
the intents expressed herein are his true intents.

8.3All the documents, material and certificates provided
by the Guarantor to the Grantor are authentic, complete, accurate and valid, and all copies of documents provided are consistent
with the originals thereof.

8.4The execution and performance of this contract will
not violate any applicable law or any other contracts to which the Guarantor is a party.

8.5The Guarantor has completed all the certification,
registration and filing necessary to ensure the legality, validity and enforceability of this contract.

8.6This contract is legal and effective, and binding
to the Guarantor.

 

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8.7The Guarantor has no pending litigation, arbitration
or administrative proceedings that will have a substantively adverse effect on his ability to perform his obligations hereunder.

8.8The Guarantor has not committed any act of breach.

 

9.The Guarantor’s representations and warranties
shall continue to be true and accurate, and the Guarantor promises to provide any other documents as requested by the Grantor.

 

Article IX The Guarantor’s Promises

 

10.The Guarantor promises to abide by the following
before the repayment of all the guaranteed debts:

 

10.1Notify the Grantor immediately upon the occurrence
of any breach, involvement in any litigation, arbitration, or administrative proceedings involving the Guarantor or his assets,
material decrease of the Guarantor’s income, loss of economic sources and change of resident address or communication method.

10.2Will not transfer, sell, divide or dispose of any
major assets before the repayment of all the guaranteed debts, unless approved by the Grantor.

10.3 Will not raise any claim or rights demand regarding
any debts repaid by him on behalf of the Grantee before the repayment of all the guaranteed debts.

10.4If the Grantee fails to repay any of the guaranteed
debts due, the Guarantor must unconditionally repay such amount on behalf of the Grantee within 7 business days of receiving the
Grantor’s notice.

10.5If the Guarantor fails to
repay any amount hereunder at the Grantor’s request on time, the Grantor shall have the right to deduct directly
any amount payable hereunder from the account established with the Grantor or any of the Grantor’s branches without the
need to obtain the Guarantor’s consent.

10.6Upon the Grantor’s request, the Guarantor
must immediately pay the Grantor all the fees arising from the exercise by the Grantor of its rights hereunder (including legal,
arbitration and enforcement fees as well as all actual costs) and compensate the Grantor for other resulting losses.

 

Article X Nature and Effect of the
Guarantee

 

11.The guarantee established by this contract is independent
of any other guarantees obtained by the Grantee. The Grantor’s exercise of its rights hereunder is not predicated on the
exercise of any other guarantees, nor does it required any remedial measures against the Grantee or any other parties.

 

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Article XI Nature and Effect of the
Guarantee

 

12.Any of the following
events constitutes an event of breach:

12.1Any breach under the Master Contract;

12.2The representations, warranties or promises made
herein by Guarantor prove to be false or misleading;

12.3Any part of the Master Contract cannot, for any
reason, continue to be fully valid and effective, or is, for any reason, terminated or restricted;

12.4Occurrence of major litigation, arbitration or administrative
proceedings involving the Guarantor or his assets;

12.5The Guarantor violates any of his obligations hereunder
or the occurrence of any event that adverse affects the Grantor’s rights hereunder.

 

13.Upon the occurrence of any of the events of breach
mentioned above, the Grantor has the right to take one or more of the following measures:

 

13.1Remedial measures to which the Grantor is entitled
hereunder and under the Master Contract;

13.2Demand that the Guarantor assume his responsibility
for guarantee;

13.3Exercise of other rights to which the Grantor is
entitled.

 

Article XII Others

 

14.Without prior consent from the Grantor, the Guarantor
shall not transfer all or part of his obligations hereunder.

 

15.Any grace period,
favorable treatment or extension granted by the Grantor to the Guarantor shall not affect, damage or restrict any other rights
to which the Grantor is entitled in accordance with the provisions herein and with the law and statutes, nor shall they be considered
a waiver by the Grantor of its rights and interests hereunder or affect the Grantor 's responsibilities and obligations hereunder.

 

16.If, at any time, any
of the provisions herein becomes illegal, invalid or unenforceable in any aspect, the legality, validity or enforceability of
other provisions herein shall not be affected or diminished.

 

17.Under this contract, the Guarantor must repay the
guaranteed debts in full and must not make any request for any offsets.

 

18.All notices or requests regarding this contract must
be sent in writing to the addresses or fax numbers listed on the first page of this contract. One party must notify the other party
promptly of any changes of addresses or fax numbers.

 

The documents sent by one party to the other
shall be considered to have been delivered if sent by courier, three days after its being sent if by registered mail, and immediately
if by fax. However, any document sent by the Guarantor can be considered to have been delivered only when the Grantor has actually
received it.

 

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Article XIII Governing Law and Resolution
of Dispute

 

19.This contract is governed by the PRC law (excluding
laws in Hong Kong, Macau and Taiwan) and must be interpreted accordingly.

 

20.Any dispute in connection with this
contract must be settled through consultation; if consultation fails, the dispute should be submitted to legal proceedings at the
local court where the Grantor resides.

 

Article XIV Effectuation, Revision
and Dissolution of the Contract

 

21.This contract must be signed by the representatives
of both parties before it can become effective.

 

22.No party can revise or dissolve this contract without
authorization. Any revision or dissolution must be agreed to by both parties in a signed written agreement.

 

Article XV Attachments

 

23.Other matters not covered herein may be provided
in a written agreement to be attached hereto. Such attachment is an inseparable part hereof and has the same legal effect.

 

24.The attachment (none)

 

Article XVI Supplementary Provisions

 

25.This contract has to two copies, with one to each,
and both have the same legal effect.

 

26.This contract is executed on April 28, 2012 in Hohhot.

 

27.The parties hereto agree that this contract must
be certified (optional provision; not applicable to this contract.)

  

 

The Guarantor:/s/ YI Ping

 

The Grantor:/seal/ China Everbright Bank Holdings. Co.,
Ltd., Hohhot Branch

Authorized Agent:/s/ HUANG Zhangren

 

    	8Working Capital Loan Contract

 

(Loan No. 1012062001)

 

(Selective and Summary Translation)

 

	The Borrower:	Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd.
	 	(“Party A”)
	 	 
	The Lender:	China International Trust and Investment Corporation (CITIC), Hohhot Branch
	 	(“Party B”)

 

	Place of Execution:	Hohhot Branch
	Date of Execution:	June 20, 2012

 

Article 1Loan Type

 

1.1Working capital loan

 

Article 2Amount and Term of the Loan

 

2.1Amount:RMB 60,000,000.00 (SIXTY MILLION)

 

2.2Term:Six Months (June 20, 2012
to June 20, 2013)

  

Article 3Purpose of the Loan

 

3.1To be used for purchasing raw material and pay advertising
fees. Without Party B’s written authorization, the loan cannot be used for investment in fixed capital or equity, nor can
it be used in the production and operation or for any other purposes.

 

Article 4Interest and Interest Rate of the Loan

 

4.1Interest rate 30.000000 (% or basis points) in addition
to the base rate for the same type of loan for the same period published by the People’s Bank of China on the date of the
loan withdrawal.

  

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4.2The interest rate for the loan hereunder is fixed
and will not change during the term of the loan.

 

4.3The interest starts to accrue from the date of the
withdrawal of the loan and is calculated according to this formula: Interest = the actual balance of the loan x the actual number
of days x the annual rate/360 days.

 

4.4On the loan that is not to be repaid in one lump
sum, the first interest settlement date is January 20, 2012 and the settlement date thereafter is the 20th day of each
month.

 

4.5Party A must have sufficient balance in the account
set up with Party B (Account No.: 7271310182600077331) before each interest settlement date to allow Party B to deduct interest
from the account.

 

4.6Upon the expiration of the term, the principal and
interest of loan must be repaid.

 

Article 5Release and Withdrawal of the Loan

 

5.1Preconditions for the first withdrawal (none).

 

5.2Preconditions for each withdrawal:

 

Party A has no violation of the obligations and responsibilities
hereunder and under the guarantee agreement;

 

No occurrence of breach event specified herein;

 

The guarantee document remains valid and effective;
in Party B’s reasonable judgment, there is no adverse change in Party A’s financial situation that will harm, delay
or obstruct its performance of the obligations and responsibilities hereunder and under the guarantee agreement;

 

Party A has executed or provided to Party B all necessary
documents or documents reasonable requested by Party B;

 

Party A has set up the bank account with Party B in
accordance with the provisions herein; and other requirements from Party B.

 

5.3Loan withdrawal plan (not specified)

 

5.4Party A agrees that Party B has the right to modify
the withdrawal plan if Party A or its guarantor fails to fulfill all the obligations hereunder.

 

5.5Party A must withdraw the loan in accordance with
the withdrawal plan specified herein.

 

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5.6If Party A unilaterally cancels the loan, thus causing
any change to Party B in the loan amount actually released, the principal of the loan will be calculated based on the loan note
actually issued.

 

5.7Release and payment of the loan

 

Party A must submit an application to Party
B for loan withdrawal, along with other required loan documents, before each withdrawal date; each application is irrevocable;
Party B, after review and approval, must transfer the amount of the loan applied for into Party A’s account (Account No.:
7271310182600077331) set up with Party B according to the date specified or pay the amount to Party A’s trading partner designated
by Party A under entrusted payment method. If the amount of single loan payment exceeds RMB 100,000.00, the entrusted payment method
should be used.

 

After the release of the loan, Party B shall
have the right to review periodically or from time to time if the loan is used in accordance with the provisions herein, and Party
A must provide assistance to Party B.

 

Article 6Repayment of the Loan

 

6.1The principal of the loan hereunder must be repaid
upon the expiration of the term with interest paid each month.

 

6.2Repayment schedule (none).

 

6.3Party A must have an amount of the balance in the
account set up with Party B no less than the sum of the principal and interest of the loan before the loan repayment date, and
Party A hereby authorizes Party B to deduct automatically from such account the amount of principal and interest of the loan as
repayment.

 

6.4If the amount paid by Party A is not sufficient to
pay off all the amount payable hereunder, the payment shall be applied in the following order: penalty interest and compound interest,
interest payable and loan principal.

 

6.5If Party A desires to repay the loan in advance,
Party A must submit an application for early repayment 20 bank business days in advance to Party B for approval.

 

Article 7Restructuring of the Loan

 

7.1If Party A is unable to repay the loan when due,
Party A must submit an application for loan restructuring one month prior to the due date to Party B for approval, and must sign
loan restructuring agreement if approved. If not approved, Party A must repay the loan at the repayment date specified herein.
Otherwise, Party B shall have the right to treat the loan as delinquent loan.

 

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Article 8Guarantee of the Loan

 

8.1The loan hereunder is guaranteed by a pledge guarantee,
and the contract number of the Pledge Guarantee is: 1011122001.

 

Article 9Party A’s Representations and Warranties

 

9.1Party A is a Chinese legal person established in
accordance with the law of the PRC and has the capacity and power to conduct civil activities and other actions necessary for the
execution and perform of this contract and to bear civil responsibility for its actions. Party A has obtained all due approval
and authorization, both internal and external, necessary for the execution of this contract.

 

9.2All the documents, financial statements and representations
provided in accordance with the law and at Party B’s request in connection with this loan are valid, legal, truthful, accurate
and complete.

 

Article 10Party A’s Covenants

 

10.1Party A must provide periodically or from time to
time at Party B’s request financial statements and other documents that truthfully reflect its operations and financial conditions
and warrant that the documents mentioned above are valid, truthful and complete.

 

10.2During the term of the loan, if there is any major
change in its operational decision or strategy, including but not limited to share transfer, reorganization, major financing, sale
of assets, acquisition, M&A, spin-off, equity restructuring, joint capital or joint venture or joint operation, contracting
or lease, external investment, substantial increase of debt financing, change in the scope of operation and registered capital,
bankruptcy or liquidation, that may affect Party B’s rights and interests, Party A must notify Party B in writing 30 days
in advance and obtain Party B’s written approval.

 

10.3Party A must actively provide assistance to Party
B in Party B’s supervision on its operation, the loan payment management and the use of the loan, major operation management
matters, financial situation, payment settlement and the trades with its partners.

 

10.4Party A shall not transfer or change the loan obligations
hereunder in any matter without prior written approval from Party B.

 

10.5If Party A disposes of its major assets or of all
or significant part of its operational income by means of transfer or lease or any other method, Party A must notify Party B in
writing 30 days in advance and obtain Party B’s written approval.

 

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10.6If there is occurrence of any event, including but
not limited to involvement in litigation, arbitration, criminal action, administrative sanction, ceasing of business, suspension
of operation, dissolution, filing for bankruptcy, revocation or suspension of business license or deterioration of financial situation,
that will have adverse impact on the performance of the loan hereunder, Party A must notify Party B in writing within 3 days after
the occurrence or likely occurrence of such event.

 

10.7If there is any occurrence of any adverse event,
including but not limited to ceasing of business, suspension of operation, dissolution, filing for bankruptcy, revocation or suspension
of business license or deterioration of financial situation, on the part of Party A’s guarantor that causes the guarantor
to lose all or part of its ability to provide guarantee, or any decrease in the value of the pledged objects or mortgaged properties,
Party A must provide additional guarantee approved by Party B.

 

10.8During the term of the loan, Party A must notify
Party B in writing of any change in its legal name, legal representative, address or telephone or fax numbers within 7 days of
such change.

 

10.9Party A must provide written report to Party B on
any related party transactions involving 10% or more of its net assets that have taken place or about to take place, including
the relationship with the related party, item, nature and amount of the transaction or the corresponding ratio or pricing policy.

 

10.10Party B shall have the right to recall all or part
of the loan based on the situation of Party A’s cash returns.

 

Article 11Rights and Obligations of Each Party

 

11.1Party A shall have the right to withdraw and use
the loan in accordance with the provisions herein.

 

11.2Party A must repay the principal and interest of
the loan in accordance with the provisions herein.

 

11.3Party B shall have the right to learn, supervise
and review Party A’s operations, use of the loan and the related party transactions.

 

11.4Party B shall have the right to pursue Party A according
to the law for any insufficient part if the proceeds from disposing of Party B’s pledged or mortgaged items or properties
are insufficient toward the repayment of the loan within the scope of the guarantee hereunder.

 

11.5Upon the fulfillment by Party A of the obligations
provided herein and the satisfaction by Party A of the preconditions specified herein for loan withdrawal, Party B must release
the amount of loan in full according to the schedule.

 

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11.6Party B shall have the right to request Party A
to provide additional documents necessary for the approval of the loan release; however Party B must maintain confidential all
information, documents and material provided by Party A, except for any inquiry or disclosure as required by or in accordance with
provisions of the law and statutes.

 

Article 12Account

 

12.1Party A must set up an account with Party B; the
account number is: 7271310182600077331.

 

Article 13Liability for Breach

 

13.1After this contract has become effective, Party
A and Party B must both perform its respective obligations specified herein and bear the corresponding liabilities for breach.

 

13.2If Party A fails to withdraw the loan according
to the withdrawal date specified herein, Party B shall have the right to charge a penalty fee at the interest rate specified herein
based on the actual number of days of delay.

 

13.3Upon the occurrence of any of the following, Party
B shall have the right to suspend or terminate unilaterally the release of any remaining amount of the loan, demand the immediate
repayment of the amount already released and all corresponding interest and fees and take other corresponding measures.

 

Party A fails to repay the principal and interest of
the loan according to the schedule;

 

Party A fails to perform any of its obligations specified
herein;

 

The certificates and documents provided by Party A in
connection with this loan or the representations and warranties made by Party A in Article 9 herein are proven to be false, inaccurate,
incomplete or deliberately misleading;

 

Party A withholds any material fact about its operations
or financial situation;

 

Party A has obtained the loan by using forged contract
with its controlling shareholders and other related parties;

 

Party A ceases to make repayment of the loan amount
due or is unable or unwilling to make repayments;

 

Party A’s ceasing of business, suspension of operation,
dissolution, filing for bankruptcy, revocation or suspension of business license or deterioration of financial situation, on its
involvement in litigation, arbitration, criminal action, administrative sanction that is adverse to its operations or financial
situation;

 

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Party A’s change in its address, scope of operation,
legal representative or AIC registration or external investment that is adverse to or threatens the realization of Party B’s
creditor’s claims;

 

Party A’s experience of major financial loss,
asset loss or other capital loss due to the guarantee it has provided to other parties or of other financial crisis, which in Party
B’s estimation is likely to affect or harm, or has already affected or harmed, Party B’s rights and interests hereunder;

 

Experience of major crisis in the operation and financial
situation by Party A’s controlling shareholder and other related parties, or the occurrence of major related party transactions
between Party A and its controlling shareholder and other related parties, that adversely affects Party A’s normal operation
or the realization of Party B’s creditor’s claims;

 

Party A’s undertaking any major acquisition or
reorganization that, in Party B’s view, may affect the realization of Party B’s creditor’s claims;

 

Occurrence of any adverse change in the industry in
which Party A is engaged (except events of Force Majeure) that seriously affects or threatens the realization of Party B’s
creditor’s claims;

 

Party A’s failure to settle accounts in accordance
with the provisions herein;

 

Party A’s use of the loan for any other purpose
without Party B’s authorization or in any illegal or non-compliant trades;

 

Party A’s failure to make loan payment in accordance
with the provisions herein;

 

Party A’s violation of its promises made in Article
10 herein;

 

Party A’s refusal to accept Party A’s monitoring
of its cash return; any occurrence of breach that has not been cured in time that results in other breaches, thus constituting
cross breaches.

 

Party A’s refusal to accept Party A’s supervision
and review of its use of the loan and relevant financial activities;

 

Involvement of Party A’s senior officers in fraud,
bribery, embezzlement or other illegal operation that, in Party B’s view, is likely to affect or harm, or has already affected
or harmed, Party B’s rights and interests hereunder;

 

Party A’s breach of contracts with other creditors;

 

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The breach of Party A’s guarantor of the provisions
of, or the occurrence of other event of breach specified in, the Guarantee Contract;

 

The pledged or mortgaged items or properties hereunder
are frozen, seized, lost or involved in other enforcement action or in ownership dispute, and Party A fails to provide additional
guarantee that meets Party B’s requirements;

 

Occurrence of other events on Party A’s part that
have endangered or damaged, or are likely to endanger or damage, Party B’s rights and interests;

 

13.4If Party A fails to repay the principal in accordance
with the provisions herein, Party B shall have the right, in addition to the rights provided herein, to assess a penalty interest
at an additional 50% of the interest rate of the loan based on the number of past-due days.

 

13.5If Party A fails to pay interest on time, Party
B shall have the right to assess compound interest at the penalty rate specified in Section 13.4 based on the number of past-due
days.

 

13.6If Party A uses the loan for any purpose other than
that specified herein, Party B shall have the right, in addition to the rights provided herein, to assess a penalty interest at
an additional 100% of the interest rate on that portion of the loan starting from the date of such misappropriation.

 

13.7Party A shall be responsible for all fees and expenses
incurred by Party B in the realization of Party B’s creditor claims.

 

Article 14Continuity of Obligations

 

14.1All of Party A’s obligations hereunder shall
continue and be binding to Party A’s successors, designees, transferees and all surviving entities after merger, reorganization
and change of names, and shall not be subject to any dispute, claims, orders from superiors, provisions of Party A’s contracts
with other parties, nor shall they be affected by the debtor’s bankruptcy, loss of ability to repay the debt or of business
qualifications or any other events.

 

Article 15Certification

 

15.1 Party A shall be responsible for all the associated
fees if this contract needs to be certified at the request of any party hereto.

 

15.2If Party B requires the issuance of certification
of enforceability, Party A agrees that Party B may apply to public certification agencies for such certification and that Party
A shall be responsible for any fees.

 

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Article 16Other Provisions

 

If there is any conflict between the provisions
in this Section and others herein, those in this Section shall prevail.

 

Article 17Applicable Law and Dispute Resolution

 

17.1This contract is governed by the law of PRC.

 

17.2Any dispute that cannot be resolved through consultation
between the parties hereto must be resolved through legal action submitted to the people’s court at Party B’s location
or through application for enforcement actions.

 

Article 18Force Majeure

 

18.1The event of Force Majeure referenced herein means
any unforeseeable, unpreventable and insurmountable object event that renders any party hereto unable to perform normally its obligations,
including war, strike, curfew, serious flood, fire, hurricane, earthquake and other such events acknowledge by both parties.

 

18.2Any party that is rendered unable to perform its
obligations by such event must notify the other party immediately in writing and provide documents of proof at the time of, or
during, such occurrence and take all necessary efforts to reduce the impact of such event on the other party.

 

18.3After the occurrence of such event, both parties
must engage in consultation to seek fair and reasonable solution and to minimize the damage of such event.

 

Article 19Cumulative Nature of Party B’s Rights

 

19.1Party B’s rights hereunder are cumulative
and shall not affect and exclude Party B’s other rights entitled under the law. Unless expressly stated by Party B, Party
B’s failure to exercise any of its rights, or its delay of such exercise or partial exercise, shall not constitute a waiver
of such rights nor shall affect, prevent or obstruct its future exercise of such rights.

 

Article 20Contract Effectuation, Amendment and Dissolution

 

20.1The contract shall become effective upon its execution
by both parties.

 

20.2After the contract has become effective, neither
party can modify, change or dissolve this contract without prior consultation and agreement with the other party.

 

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20.3After the contract has become effective, Party B
may transfer all or part of its claims hereunder to a third party without the need to obtain Party A’s approval, but Party
A must notify Party B in writing.

 

20.4After the contract has become effective, if Party
A transfers all or part of its debt obligations to a third party, Party A must provide to Party B its guarantor’s consent
to such transfer and to its responsibility to continue the guarantee and obtain Party B’s approval.

 

Article 21Others

 

21.1“Bank Business Day” is any day on which
the bank is open for business.

 

21.2“Related Party” is as defined in “Business
Accounting Principal No. 36—Disclosure of Related Parties” issued by the Ministry of Finance.

 

21.3Other matters not covered herein may be provided
in supplemental agreement, which shall have the same legal effect.

 

21.4Any provision or content herein that are determined
to be invalid shall not affect the validity of any other provision or content herein.

 

21.5Any notice sent by Party B to Party A shall be considered
received if it is sent by telex, telegram or faxed or received three days after it is posted in registered mail.

 

 

	Party A:	(Seal or Special Business Seal)
	 	/seal/ Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd.
	Legal Representative: /s/ [signature not legible]
	 	 
	Party B:	(Seal or Special Business Seal)
	 	/seal/ China International Trust and Investment Corporation (CITIC),
	Hohhot Branch
	Legal Representative: /s/ [signature not legible]

 

 

[Attachment 1: Sample of Party A’s Seal Imprint]

 

[Attachment 2: Entrusted Payment Form]

 

    	10

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