Document:

smsapal8kex1028082310.htm

Exhibit 10.28

 

Deposit Pledge Contract

 

China Construction Bank

Fujian Branch

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

  

  

 

Deposit Pledge Contract

Contract No.: Jian Ping Song Dui Bao Zhi Zi No. 3-3 [2010]

Pledgor (Party A): Fujian Yada Group Co., Ltd.

Domicile: No. 6-1, Gongye Road, Songxi County

Zip code: 353500

Legal representative (principal): Zhan Youdai

Fax: 2332598

Tel: 2325688

Pledgee (Party B): China Construction Bank Corporation, Songxi Sub-branch

Domicile: No. 121, Jiefang Street, Songyuan Town, Songxi County

Zip code: 353500

Principal: Ou Wenbin

Fax: 2322644

Tel: 2322670

To ensure the performance of Bank Acceptance Agreement (Jian Ping Song Dui Zi No. 03 [2010]) (hereinafter referred to as “the Master Contract”) signed by and between Fujian Yada Group Co., Ltd. (hereinafter referred to as “the Debtor”) and Party B, and to guarantee the realization of Party B’s claims, Party A is willing to provide deposit pledge against the Debtor’s debt owed to Party B under the Master Contract. According to relevant laws, regulations and rules, Party A and Party B enter into this Contract after consultations for common compliance.

	
Article 1

	
Party A shall provide deposit pledge with the margin in the deposit account hereunder.

	
Article 2

	
Deposit account

Party A shall deposit RMB (currency) One Million Seven Hundred and Forty Thousand (in words) into the deposit account within one working day from the date of signing of this Contract. Without the consent of Party B, Party A shall not draw down, transfer or otherwise dispose of the fund in the deposit account. Name of the deposit account: Fujian Yada Group Co., Ltd.; number of the deposit account: 3500167760749558888; opening bank: China Construction Bank, Songxi branch.

 

 

  

  

  

 

Party A and Party B agree that the deposit shall carry interest at the rate of: 6-month fixed deposit interest rate. The interest shall be directly credited to Party A’s deposit account by Party B and be used as deposit pledge against Party B’s claims.

If the deposit account is frozen or deducted by any judicial decisions or decisions by other competent authority, Party A shall provide other security acceptable to Party B.

	
Article 3

	
Scope of deposit pledge

The scope of deposit pledge hereunder is as 2 below:

	
I.  

	
All debts under the Master Contract, including but not limited to all principal, interest (including compound interest and penalty interest), penalty, damages, other amounts due from the Debtor to Party B (including but not limited to the related commission charges, telecommunications charges, contingencies, the related bank charges that foreign beneficiaries refuse to bear, etc.), the costs incurred by Party B on realization of claims and security right (including but not limited to court fees, arbitration fees, property preservation fees, travel expenses, enforcement charges, assessment fees, auction fees, notary fees, service fees, announcement fees, attorney fees, etc.).

	
II.  

	
Principal (currency) RMB Five Million Eight Hundred Thousand (in words), interest (including compound interest and penalty interest) under the Master Contract, and penalty, damages, and other amounts due from the Debtor to Party B (including but not limited to the related commission charges, telecommunications charges, contingencies, the related bank charges that foreign beneficiaries refuse to bear, etc.), the costs incurred by Party B on realization of claims and security right (including but not limited to court fees, arbitration fees, property preservation fees, travel expenses, enforcement charges, assessment fees, auction fees, notary fees, service fees, announcement fees, attorney fees, etc.).

 

 

  

  

  

 

	
Article 4

	
Amendment and modification of the Master Contract

	
I.  

	
If Party B and the Debtor agree to amend the terms of the Master Contract (including but not limited to amendment of repayment currency, repayment method, loan account number, repayment account number, fund use plan, repayment plan, value date, interest settlement date, value date or settlement date of interest in case of no extension of the debt performance period), Party A shall agree to assume guaranty liability against the debt under the amended Master Contract.

Where Party B and the Debtor agree to extend the repayment term or increase the amount of the principle of the debt without the prior consent of Party A, Party A shall only assume guaranty liability against the debt under the original Master Contract in accordance with the provisions hereof.

	
II.  

	
Party A’s guaranty liability shall not be relieved in the case of:

	
(I)  

	
Restructuring, merger, consolidation, division, increase or decrease in capital, joint venture, association, rename or other changes of Party B or the Debtor; or

	
(II)  

	
Party A entrusting any third party to perform its obligations under the Master Contract.

	
III.  

	
Where the claims under the Master Contract are transferred to a third party, Party A shall assist Party B and the third party in handling the relevant procedures.

	
IV.  

	
If the transfer of the claims or debts under the Master Contract is null, void, revoked or canceled, Party A shall assume the guarantee liability to Party B in accordance with this Contract.

	
Article 5

	
Realization of pledge right

	
I.  

	
If the Debtor fails to perform the due debt under the Master Contract or the debt declared due early, or violates any other provisions in the Master Contract, Party B shall have the right to transfer and receive the equivalent amount from the said deposit account.

 

 

  

  

  

 

	
II.  

	
Party A shall not in any way (including act or omission) impede Party B from realizing the pledge right.

	
III.  

	
No matter whether Party B is provided with any other security against the claims under the Master Contract (including but not limited to warranty, mortgage, pledge, guarantee letter, standby letter of credit and other ways of security), regardless of the time when the said other security is established, whether such security is effective, whether Party B make claims against other guarantors, whether there is any third party who agrees to undertake the debts under the Master Contract in whole or in part, and whether other security is provided by the Debtor itself, the guaranteeliability of Party A hereunder shall not be relieved thereby, and Party B shall have the right to transfer and receive the equivalent amount directly from the said deposit account while Party A shall not raise any objection.

	
IV.  

	
If Party A provides security only against part of the debt under the Master Contract, then Party A agrees that even if the debt under the Master Contract is eliminated in part due to discharge by the Debtor, realization of other security rights by Party B or any other reason, Party A shall, within the scope of security hereunder, still assume guaranty liability against the debt that have not yet been eliminated.

	
V.  

	
If Party A provides security only against part of the debt under the Master Contract and in case the debt under the Master Contract has not been discharged in full after Party A assumes the guarantee liability, then Party A will claim (including pre-exercise) the right of subrogation or recovery and shall not prejudice Party B’s interests, and agrees that discharge of the debt under the Master Contract shall take priority over the realization of Party A’s right of subrogation or recovery.

 

 

  

  

  

 

Specifically, until Party B’s claims are settled in full,

	
(I)  

	
Party A agrees not to claim its right of subrogation or recovery against the Debtor or any other guarantor; if Party A realizes such right for whatsoever reason, then the received amount shall be first used to settle the outstanding claims of Party B;

	
(II)  

	
If the debt under the Master Contract is provided with real security, Party A agrees that it will not raise claim against the proceeds from the deposit pledge or its disposal on the ground of exercise of the right of subrogation or for any other reason and that the said deposit pledge and the proceeds shall be first used to settle the outstanding claims of Party B;

	
(III)  

	
If the Debtor or any other guarantor provides a counter-guarantee for Party A, then the amount received by Party A on the basis of the said counter-guarantee shall be first used to settle the outstanding claims of Party B.

	
VI.  

	
Party A has been fully aware of the interest rate risk. In case the interest, penalty interest and compound interest due from the Debtor are increased as Party B adjusts the interest rates, interest calculation or settlement methods in accordance with the provisions of the Master Contract or the changes in state interest rate policy, Party A shall also assume guaranty liability against the increased part.

	
VII.  

	
If the Master Contract is untenable, not effective, invalid, invalid in part or revoked or dissolved and if Party A and the Debtor are not the same person, then Party A shall, within the scope of security hereunder, assume joint liability with the Debtor against the debt incurred by the Debtor due to return of property or compensation for losses, and Party B shall have the right to transfer and receive the equivalent amount from the said deposit account.

	
VIII.  

	
If the Debtor bears other due debts to Party B in addition to those under the Master Contract, Party B shall have the right to transfer and receive the amount in RMB or other currencies from any account opened by the Debtor in China Construction Bank system to first use to discharge any due debt, and Party B’s guaranty liabilityshall not be relieved thereby.

 

 

  

  

  

 

	
Article 6

	
Liabilitird for breach of contract

	
I.  

	
In the case of breach of any provision hereof by Party A or in the case of any misstatement, error or omission in Party A’s representations and warranties, Party B shall have the right to take one or more of the following measures:

	
(I)  

	
Require Party A to remedy the breach within the specified period;

	
(II)  

	
Require Party A to provide a new guarantee;

	
(III)  

	
Require Party A to indemnify for damages;

	
(IV)  

	
Transfer and receive the equivalent amount from the said deposit account;

	
(V)  

	
Other relief measures permitted by law.

	
II.  

	
If the pledge right is not effectively established, or the deposit account is frozen or deducted, or Party B fails to realize the pledge right in a timely and full manner due to any reasons attributable to Party A, and if Party A and the Debtor are not the same person, Party B shall have the right to require Party A to, within the scope of security hereunder, assume joint liability with the Debtor against the debt secured, and Party B shall have the right to transfer and receive the equivalent amount from the said deposit account.

	
Article 7

	
Miscellaneous

	
I.  

	
Transfer and receipt of amount due

For all amount due from Party A hereunder, Party B shall have the right to transfer and receive the equivalent amount in RMB or other currencies from any account opened with Party A in China Construction Bank, without prior notice to Party A. In case it is required to handle the procedures for exchange settlement and sale or foreign exchange trading, Party A shall be obliged to assist Party B in handling the relevant procedures and bear the exchange rate risk.

 

 

 

  

  

  

	
II.  

	
Use of Party A’s information

Party A agrees that Party B may inquire of the credit database established with the approval of the People's Bank of China and credit reporting authorities or of the relevant units or departments about Party A’s credit status, and that Party B may provide Party A’s information to the credit database established with the approval of the People's Bank of China and credit reporting authorities. Party A agrees that Party B may also make rational use of and disclose Party A’s information as required by its business.

	
III.  

	
Announced recall

Party A shall have the right to inform the relevant departments or units of Party A’s breaches and to make announce recall through news media.

	
IV.  

	
Evidence effect of Party B’s records

Unless there is any reliable and conclusive evidence to the contrary, Party B’s internal accounts records on principal, interest, fees and repayment records, the bills and vouchers made or retained by Party B in the process of principal repayment and interest payment by the Debtor, as well as the records and vouchers on Party B’s recall shall constitute the conclusive evidence for the claim-debt relationship under the Master Contract. Party B shall not raise any objection because such records, bills and vouchers are unilaterally made or retained by Party B.

	
V.  

	
Non-waiver

Party B’s rights hereunder shall not prejudice or exclude any of its rights under laws, regulations and other contracts. Any tolerance, allowance or relief of any breach or delay, or any postponed exercise of any rights hereunder shall never be deemed as a waiver of the rights and interest hereunder or as a permit or acquiescence of any breach of this Contract, never affect, prevent or impede the future exercise of such rights or the exercise of other rights, and never make Party A assume any obligations and responsibilities to Party A.

 

 

  

  

  

 

Even if Party does not exercise or postpones exercising any rights under the Master Contract or does not fully use any relieves under the Master Contract, Party A’s guaranty liability hereunder shall not be relieved thereby, but if Party B relieve the debt under the Master Contract, Party A’s guaranty liability hereunder shall be correspondingly relieved.

	
VI.  

	
In the event of Party A’s division or dissolution, entry into bankruptcy proceedings, revocation, deregistration of industrial and commercial, or revocation of business license, or in the event of any dispute over the ownership of the fund in the deposit account, Party A shall immediately notify Party B.

	
VII.  

	
Dissolution or bankruptcy of the Debtor

If Party A knows that the Debtor has entered dissolution or bankruptcy proceedings, it shall immediately notify Party B to file claims, and it shall participate in the dissolution or bankruptcy proceedings and pre-exercise the right of recovery in a timely manner. In case Party A knows or should know that the Debtor has entered dissolution or bankruptcy proceedings, but fails to pre-exercise the right of recovery in a timely manner, the losses incurred shall be borne solely by Party A.

Notwithstanding Article 5(2), in the Debtor's bankruptcy proceedings, if Party B reaches a settlement agreement with the Debtor or agrees to readjust the plan, Party B’s rights hereunder shall not be prejudiced due to the settlement agreement or readjusted plan and Party A’s guaranty liability shall not be relieved. Party A shall not confront Party B’s claims with the conditions specified in the settlement agreement or readjusted plan. For part of the claims that could not be settled due to Party B’s concession to the Debtor in the settlement agreement or readjusted plan, Party B shall also have the right to require Party A to assume the guaranty liability.

 

 

  

  

  

 

	
VIII.  

	
Dissolution or bankruptcy of Party A

In the case of any dissolution or bankruptcy of Party A, even if the claims of Party B under the Master Contract has not yet been due, Party B shall also have the right to participate in Party A’s liquidation or bankruptcy proceedings and file claims.

	
IX.  

	
In the case of any change in Party A’s correspondence address and contact details, Party A shall immediately notify Party B in writing and any losses incurred due to failure in timely notification shall be borne solely by Party A.

	
X.  

	
If Party A or the Debtor fails to comply with the laws, regulations or rules on environmental protection, energy conservation and pollution reduction or possibly cause energy consumption and pollution risks, Party B shall have the right to early exercise the security right hereunder and take other relief measures stipulated herein or permitted by law.

	
XI.  

	
Miscellaneous

None

	
XII.  

	
Settlement of disputes

Any disputes arising from the performance of this Contract may be settled through consultation and if the consultation fails, shall be settled as per (1) below. In litigation or arbitration, the provisions hereof not relating to the dispute shall be performed as ever.

	
(I)  

	
Submitted to the people's court where Party B’s domicile is located.

	
(II)  

	
Submitted to blank Arbitration Commission (arbitration place) at blank for arbitration in accordance with the arbitration rules of the Commission effective at the time of application. Arbitral award is final and binding on both parties.

 

 

  

  

  

 

	
XIII.  

	
Effectiveness of contract

This Contract comes into effect upon signed or sealed by the legal representatives (principals) or authorized agents of both Party A and Party B.

	
XIV.  

	
This Contract is executed in three counterparts.

	
Article 8

	
Representations and warranties of Party A

	
I.  

	
Party A is clearly aware of Party B’s business scope and delegated authority.

	
II.  

	
Party A has read all provisions of this Contract and the Master Contract. As requested by Party A, Party B has made relevant explanations of the provisions of this Contract and the Master Contract. Party A has fully learned and understood the meaning and the corresponding legal consequences of the provisions of this Contract and the Master Contract.

	
III.  

	
Party A has the legal qualification as a guarantor, and Party A’s security action hereunder meets the requirements of laws, administrative regulations, rules, and Party A’s Articles of Association or internal organization documents and has been approved by its internal competent organizations and/or the state competent authorities. All liabilities incurred due to Party A having no right to sign this Contract shall be borne by Party A, including but not limited to full compensation for the losses incurred by Party B thereby.

	
IV.  

	
Party A confirms that it has fully learned the Debtor’s assets, liabilities, operation, credit, reputation, legal qualification and authority for signing the Master Contract, as well as all the contents of the Master Contract.

	
V.  

	
Party A shall provide the deposit pledge without prejudice to any third party’s legitimate interests or Party A’s legal and contractual obligations.

 

 

  

  

  

 

	
VI.  

	
The fund in the deposit account is legally owned by Party A, without any dispute over the ownership.

	
VII.  

	
The fund in the deposit account has no other co-owners, or although has other co-owners, such deposit pledge has been permitted by other co-owners in writing.

	
VIII.  

	
All the data and information provided by Party A to Party B concerning the deposit pledge security are authentic, legitimate, accurate and complete.

 

Party A (official seal): Fujian Yada Group Co., Ltd.

Legal representative (principal) or authorized representative (signature): Zhan Youdai

August 11, 2010

Party B (official seal): China Construction Bank Corporation, Songxi branch

Principal or authorized representative (signature): Ou Wenbin

August 11, 2010smsapal8kex1029082310.htm

Exhibit 10.29

 

The People's Government of Zudun Town, Songxi County

Official Reply on the Conclusion of Land Contracting Agreement

between Fujian Yada Food Co., Ltd. and Shangdian Village

Fujian Yada Food Co., Ltd.,

Your Request for Instructions on Rural Land Contracting has been received. As stated by you, you had entered into a land contracting agreement with the Villagers Committee of Shangdian Village, Zudun Town, Songxi County as follows: The Land Contracting Agreement singed on January 13, 2006 in respect of the vegetables base with an area of 3700 mu, located at Shangdian Village, Songxi County. The contract term is twenty years, commencing on January 13, 2006 and ending on January 12, 2026.

After deliberation, we hereby give our official reply as follows:

We approve the Contracting Agreement between you and the Villagers Committee of Shangdian Village, Zudun Town, Songxi County.

It is hereby replied.

The People's Government of Zudun Town, Songxi County (Seal)

January 20, 2006

  

  

  

Rural Land Contracting Agreement

 

 

This Land Contracting Agreement (the "Agreement") is made and entered into as of January 13, 2006 at Songxi County, Fujian Province by and between:

Party A: Villagers Committee of Shangdian Village, Zudun Town, Songxi County

Address: Shangdian Village, Songxi County

Person-in-Charge: Yi Zhongguan

Party B: Fujian Yada Food Co., Ltd.

Address: Shuinan Industrial Zone, Songxi County, Nanping City, Fujian Province

Legal Representative: Zhan Youdai

 

 

Whereas, Party A intends to increase the collective economic income of the village, improve production conditions of farmers, enhance production efficiency of farmers, promote local economic development, and cooperate with Party B in the development and production of green food and vegetables, so as to achieve mutual benefits among the villagers, the collective and the enterprise. Party A and Party B, intending to be legally bound, hereby agree as follows after amicable negotiation:

1. Land Awarding and Contracting

1.1 Party A agrees to award a contract to Party B for development, operation and management of the Land as set forth in Article 1.2 hereof, and Party B agrees to accept the contract on the land.

1.2 The Land is located at the vegetables base of Shangdian Village, Songxi County, with an area of 3700 mu.

1.3 The Land is used for planting and producing green food and vegetables.

1.4 The term of the Land contracted by Party B under this Agreement shall be twenty (20) years, commencing on January 13, 2006 and ending on January 12, 2026.

2. Land Contracting Charges

2.1 Both parities agree that during the contract term, Party B shall annually pay to Party A the land contracting charges at the rate of RMB 80 yuan per mu, which is RMB two hundred and ninety-six thousand yuan in total (RMB 296,000 yuan). Party B shall pay the land contracting charges to the person in charge of the Villager Committee when settling the prices of agricultural products planted each year.

 

 

  

  

  

2.2 Party B shall pay to Party A the land contracting charges pursuant to Article 2.1 hereof only when the following conditions are satisfied:

	 (1)   	
The Agreement has been approved by more than two thirds (2/3) of the villager representatives of Shangdian Village, Songxi County;

	 (2)   	
The Agreement has been approved by the government of Zudun Town, Songxi County.

 

3. Rights and Obligations of Party A

3.1 Party A's rights

	
(1)  

	
It shall own the title of the Land;

	
(2)  

	
If Party B fails to operate the Land in accordance with the purpose of the Land as set forth herein during the contact term, Party A shall have the right to require for corrections.

	
(3)  

	
Party A shall have the right to obtain all the ground crops and infrastructure constructions (which refer to transportation facilities and water conservancy facilities) within the range of the Land contracted by Party B ("Attachments to Land") in accordance with the provisions of Article 6.1 hereof.

3.2 Party A's obligations

	
(1)  

	
It shall deliver the documents and materials relating to the Land and the Land to Party B immediately after the signing of the Agreement.

	
(2)  

	
It shall provide all necessary assistances after the signing of the Agreement, so as to enable Party B to obtain the contractual rights to use and manage the Land and handle all the relevant approval and registration procedures.

	
(3)  

	
It shall provide Party B with production and operation conditions required as to the Land, and with necessary services, and coordinate the settlement of disputes.

	
(4)  

	
It shall protect Party B's contractual rights to use and manage the Land, independent production right, economic benefit right, and prevent unreasonable fees and obligations required by the relevant departments to Party B, for example: in the event of expropriation or use of the Land according to law, Party A shall, in accordance with the relevant provisions, allocate to Party B the state compensation for expropriation of arable land to which Party B is entitled.

 

  

  

  

 

4. Rights and Obligations of Party B

4.1 Party B's rights

	
(1)  

	
It shall have the contractual rights to use and manage the contracted land;

	
(2)  

	
During the contract term, Party B shall have the right to control over all the plants within the range of the contracted land, and to sell all the agricultural and sideline products harvested from the Land during the contract term;

	
(3)  

	
Party B shall have the right to dispose of the plants within the range of the Land subject to compliance with the laws of the People’s Republic of China and according to the requirements of operation during the contract term.

	
(4)  

	
Party B shall during the contract period have the right to refuse to bear the various charges and labor service other than those specified by the policies and laws;

	
(5)  

	
Upon expiration of the Agreement, Party B shall have the priority to the contracting of the Land under the same conditions.

4.2 Party B's obligations

	
(1)  

	
Party B's development, operation and management activities in respect of the Land within the contracting range shall be in conformity with the laws of the state and the regulations of the local government.

	
(2)  

	
If Party B requires extending or shortening the contract term in special cases during development, operation and management of the contracted Land, Party B shall notify Party A one year in advance, and the contract term may be adjusted upon mutual agreement of both parties after negotiation.

5. Effectiveness, Amendment, and Termination

5.1 This Agreement shall be established on the date of signing or sealing by the authorized representatives of both parties, and become effective when the two conditions as set forth in Article 2.2 hereof are satisfied.

5.2 The amendment and termination of the Agreement shall be made by both parties in writing. Other circumstances of the amendment and termination of the Agreement include:

	
(1)  

	
If a party is unable to perform the Agreement in whole or in part due to force majeure, either party shall have the right to require to amend or terminate the Agreement.

	
(2)  

	
If the Land contracted by Party B is expropriated or collected in whole or in part according to law, resulting in failure of continual operation by Party B, either party may send to the other party a notice of termination or amendment of the Agreement, and neither party shall claim any compensations against the other party on the grounds of such termination of the Agreement.

	
(3)  

	
If Party B losses legal personality due to the cancellation of its registration or suffers from serious difficulty in business operation, Party B shall have the right to terminate the Agreement with a notice to Party A, and neither party shall claim any compensations against the other party on the grounds of such termination of the Agreement.

 

  

  

  

 

5.3 If the contract term of the Land hereunder is terminated earlier in accordance with Article 5.2 hereof, the contracting charges of the year shall be converted into the contracting charges payable for each month, and deducted accordingly on the basis of the actual contract months in the year. Any period over fifteen days but less than one month shall be counted as a month, and any period less than fifteen days shall be counted as half a month.

6. Ownership of Attachments to Land

6.1 Upon expiration of the contract term of the Land hereunder or early termination in accordance with Article 5.2 hereof, all the attachments on the ground of the Land contracted by Party B shall become the property of Party A free of charge.

6.2 Upon expiration of the contract term of the Land hereunder, if both parties after discussion agree upon Party B's continuous contracting and operation, Party B or its  successor in title shall have the right to retain the Attachments to Land and continue to occupy and use them.

7. Liabilities for Breach

Any breach of the respective obligations of Party A and Party B hereunder shall constitute a breach of contract. If Party A breaches the Agreement, Party A must indemnify Party B for all the damages incurred therefrom; if Party B commits a serious breach of contract and is unable to indemnify Party A through other measures, Party A shall have the right to terminate the Agreement, and require Party B to assume the appropriate responsibilities according to the laws of the People’s Republic of China. If Party A commits a serious breach of contract and Party B is unable to obtain remedies through other measures, Party B shall have the right to terminate the Agreement, and require Party A to assume the appropriate responsibilities in accordance with the laws of the People’s Republic of China.

8. Force Majeure

In the event of the earthquake, typhoon, flood, fire, war and other unforeseeable, unavoidable and insurmountable events of force majeure, resulting in direct influence on the performance of this Agreement or failure to perform the Agreement in accordance with the agreed terms and conditions, the affected party shall immediately notify the other party  in writing and within fifteen (15) days provide the valid evidencing documents, stating the details of force majeure, and the reasons for failure to perform the Agreement in whole or in part or demands for delay in the performance, which shall be issued by the notary public office at the location where the force majeure occurred. Both parties shall, through negotiation on the basis of the influence on the performance of the Agreement, decide whether to terminate the Agreement, or partially release from the responsibilities for the performance of the Agreement, or delay the performance of the Agreement.

 

 

  

  

  

9. Confidentiality

9.1 Confidential information refers to any and all information, materials or data that are provided by a party hereto (hereinafter the “Disclosing Party”) or its agent to the other party (hereinafter the “Receiving Party”) or its agent, identified as “Confidential”, “Private” or “Secret” by a seal, mark or written notice at the time of disclosure, with respect to the business, process, plan, intent, product information, technical information, design right, trade secret, software, market opportunity, customers and commercial affairs of the Disclosing Party, and such information or data information and data orally provided which are confirmed as confidential at the time of disclosure and identified as “Confidential” by the Disclosing Party in writing within thirty (30) days.

9.2 Warranties by the Receiving Party

9.2.1 It shall use the confidential information solely for purpose of performance of the obligations hereunder, not use for any other purposes, in particular for any commercial use, except for purpose of this Agreement, unless signed by both parties in writing;

9.2.2 The aforesaid confidential information may not be disclosed to any third party without the prior written consent of the Disclosing Party;

9.2.3 It shall keep confidential information with at least the same degree of care it uses with respect to its own confidential information, and in no event shall it lower such standard or the standard that a reasonable and prudent organization can achieve.

9.2.4 Confidential information may be disclosed only to the employees of the Receiving Party and the consultants or advisers who need to know such confidential information and shall also perform the obligation of confidentiality.

9.3 Provisions of Article 9 hereof shall become effective immediately after this Agreement comes into existence, and survive amendment, cancellation or termination of this Agreement.

9.4 The Receiving Party may as the case may be disclose the following confidential information:

(1) Which is required to disclose by laws or any management regulations or the requirements of any stock exchange acceptable, provided that, only that portion of confidential information that is required to disclose may be disclosed;

(2) Which is necessary to be disclosed to the employees of the Receiving Party and the consultants or advisers who have a need to know such confidential information for the purpose of performance of this Agreement, provided that, such persons shall comply with the obligation of confidentiality;

(3) Which becomes public knowledge at the time of disclosure without breach of the provisions of Article 9 hereof;

 

 

  

  

  

 

(4) Which is received by the Receiving Party from the third party without breach of the provisions of Article 9 hereof;

(5) Which is obtained by the Receiving Party in the course of its business prior to receipt of the confidential information by the Receiving Party from the Disclosing Party;

(6) which is otherwise independently developed by the Receiving Party;

(7) Which is known to the public for other reasons other than breach by the Receiving Party of the provisions of this Agreement or with the prior written approval of the Disclosing Party.

10. Notices

All notices and communications required and authorized to be made hereunder, by mutual agreement of both parties, shall be delivered designated personnel of the Parites, and deemed to have been served at the time of signing for receipt by the other party’s personnel.

11. Applicable Law and Settlement of Disputes

11.1 Execution, effectiveness, interpretation and performance of this Agreement shall be governed by the laws of the People’s Republic of China.

11.2 Any and all disputes in connection with this Agreement shall be settled by both parties through amicable negotiation, and may also be settled by mediation by villagers committee. In case such disputes fail to be settled by both parties through negotiation or mediation by villagers committee within thirty (30) days from the date when a party gives a written notice to the other party, either party shall be entitled to submit such disputes to rural land contracting arbitration organization for arbitration, and may also lodge a lawsuit before the people’s court.

12. Miscellaneous

12.1 This Agreement together with all appendices and any other documents entered into and delivered pursuant to this Agreement shall constitute the entire agreement between the parties in respect of the subject matter of this Agreement, and supersede all prior agreements and memos, whether in oral or writing.

12.2 In case any provision of this Agreement is void or unenforceable due to noncompliance with relevant laws, such provision shall be invalid to the extent of applicability of relevant laws, and legal force of the remaining provisions of this Agreement may not be affected.

12.3 The matters not covered herein shall be settled by both parties through negotiation by a supplementary agreement.

12.4 This Agreement is executed in four counterparts, with each party holding two respectively, each of which shall have equal effect in law, and the remaining two copies shall be used for handling the relevant approval registration procedures or maintained by Party B.

(The remaining of this page is intentionally left blank)

 

 

  

  

  

 

Signature Page of Land Contracting Agreement

 

	
For and on behalf of Party A

	
For and on behalf of Party B

	
Villager Committee of Shangdian Village,

	
Fujian Yada Food Co., Ltd.

	
Zudun Town, Songxi County (Common Seal)

	
(Common Seal)

	  	  
	
Legal Representative

	
Legal Representative

	
or Authorized Representative:

	
or Authorized Representative:

	
Yi Zhongguan

	
Zhan Youdai

	
Date: January 13, 2006

	
Date: January 13, 2006

 

  

  

  

Votes by Villager Representatives of Shangdian Village, Zudun Town, Songxi County

Whereas,

The Villagers Committee of Shangdian Village, Zudun Town, Songxi County enters into an agreement (hereinafter referred to as the "Contracting Contract") with Fujian Yada Food Co., Ltd. on January 13, 2006;

Shangdian Village, Zudun Town, Songxi County has 20 villager representatives. 16 of them held a meeting of villager representatives of the Villagers Committee of Shangdian Village, Zudun Town, Songxi County on January 13, 2006, and agreed to the conclusion of the Land Contracting Contract between the Villagers Committee of Shangdian Village, Zudun Town, Songxi County and Fujian Yada Food Co., Ltd.

Signatures of villager representatives of        Village,    Town, Songxi County

	
Yi Guanjin

	
Yi Yangxing

	
Yu Xiaoming

	
Yi Yangjian

	 	 	 	 
	
Zhang Shengli

	
Yu Shuiming

	
Liu Yisheng

	
Yi Shisheng

	 	 	 	 
	
Yi Hongqing

	
Li Shuifu

	
Yi Zejian

	
Ye Wenhui

	 	 	 	 
	
Yi Wenqin

	
Yi Qixu

	
Zhang Xindi

	
Yi Qiyu

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]