Document:

Exhibit 4.56

Exhibit 4.56

28 June 2011

Agria Group Limited

(as Chargor)

and

New Hope International (Hong Kong) Limited

(as Chargee)

Charge Over Shares in Agria Asia Investments Limited

 

 

 

This Charge is made on 28 June, 2011

Between:

	(1)	 	Agria Group Limited, a company incorporated under the laws of the British Virgin Islands (the
“Chargor”); and

	(2)	 	New Hope International (Hong Kong) Limited, a company incorporated under the laws of Hong
Kong (“Chargee”);

Whereas:

	(A)	 	The Chargor, the Chargee and Agria Asia Investments Limited entered into a subscription
agreement (“Subscription Agreement”) dated 14 April 2011 and a related shareholder agreement
(“Shareholder Agreement”) dated 28 June 2011 in respect of the subscription of the shares in
Agria Asia Investment Limited on 29 April 2011. It is a condition under the Shareholder
Agreement that the Chargor shall enter into this share charge in relation to the issued share
capital of the Charged Company (as defined below).

	(B)	 	The Chargee shall hold the benefit of this Charge for itself and on trust for the holders of
the Notes.

It is agreed as follows:

	1	 	Definitions and Interpretation

	1.1	 	In this Charge (except where the context otherwise requires) words and expressions shall have
the same meanings assigned to them as defined in the Subscription Agreement and the
Shareholder Agreement and the following words and expressions shall have the following
meanings:

	 	 	 
	“BCA”

	 	means the BVI Business Companies Act, 2004 (as
amended);
	 
	 	 
	“Business Day”

	 	means, in the case of delivery of a notice, any
day which is not a Saturday or Sunday or public
holiday in the place at which the notice is left
or sent, and in any other case, any day which is
not a Saturday or Sunday or a public holiday in
the British Virgin Islands;
	 
	 	 
	“Charge”

	 	means this share charge to be entered into
between the Chargor and the Chargee;

 

 

 

	 	 	 
	 
	 	 
	“Charged Shares”

	 	means the Initial Shares and all and any other
shares, warrants and other securities of any kind
(including loan capital) of the Charged Company
now or at any time in the future legally and/or
beneficially owned by the Chargor or in which the
Chargor has any interest and all rights, benefits
and advantages now or at any time in the future
deriving from or incidental to any of the Charged
Shares, including, without limitation:

(a) all dividends, interest and other income paid
or payable in relation to any Charged Shares; and

(b) all shares, securities, rights, monies or
other property accruing, offered or issued at any
time by way of redemption, conversion, exchange,
substitution, preference, option or otherwise in
respect of any Charged Shares (including but not
limited to proceeds of sale);

Charged Shares shall exclude any shares of the
Charged Company that may be sold to Ngai Tahu
Holdings Corporation Limited (“Ngai Tahu”) by the
Chargor pursuant to a conditional share purchase
agreement between Ngai Tahu and the Chargor dated
15 April 2011.
	 
	 	 
	“Charged Company”

	 	means the company set forth in Column C of
Schedule 1 in this Charge;
	 
	 	 
	“Company”

	 	means Agria Asia Investment Limited, a company
incorporated in the British Virgin Islands of PO
Box 957, Road Town, Tortola, British Virgin
Islands;
	 
	 	 
	“Enforcement Notice”

	 	means an enforcement notice served by the Chargee
on the Chargor;
	 
	 	 
	“Initial Shares”

	 	means the shares listed in Schedule 1, which are
registered at the date of this Charge in the name
of the Chargor;
	 
	 	 
	“Insolvency Act”

	 	means the BVI Insolvency Act, 2003 (as amended);
	 
	 	 
	“Receiver”

	 	means as defined in Clause 8;
	 
	 	 
	“Register of Members”

	 	means the register of members held at the Charged
Company’s registered office, containing the names
and addressed of the persons who hold shares in
the Charged Company, the number of each class and
series of shares held by each member, the date on
which the name of each member was entered in the
register of members, and the date on which any
eligible person ceased to be a member of the
Charged Company;
	 
	 	 
	“Registry”

	 	means the Registry of Corporate Affairs in the
British Virgin Islands;

 

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	“Secured Obligations”

	 	means all and any amounts of any kind, now or in
the future, actual or contingent, due or payable
(or expressed to be due or payable) by the
Chargor to the Chargee in any currency, actually
or contingently, solely and/or jointly and/or
severally with another or others as principal or
surety on any account whatsoever under or in
connection with the Put Option defined and
contemplated in the Shareholder Agreement;
	 
	 	 
	“Security Interest”

	 	means any mortgage, charge, pledge, lien,
encumbrance, right of set off or any security
interest, howsoever created or arising; and
	 
	 	 
	“Shareholder Agreement”

	 	means a shareholder agreement entered into by and
between Chargor, Chargee and the Agria
Corporation dated 28 June 2011, containing, among
other matters, the Put Option as defined in the
Shareholder Agreement.
	 
	 	 
	“Subscription Agreement”

	 	means a subscription agreement entered into bv
and between Chargor, Chargee, the Company in
connection with the subscription of shares in the
Company on 29 April 2011 (as may be amended from
time to time);
	 
	 	 
	“Termination Event”

	 	means any breach of, or a termination event, or
default or event of default under the Shareholder
Agreement by the Company or this Charge by the
Chargor that is either incapable of remedy or if
capable of remedy has been continuing for 7
Business Days following notification by the
Chargee.

	1.2	 	In this Charge:

	 	(a)	 	any reference to a Recital, Clause or Schedule is to the relevant Recital,
Clause or Schedule of or to this Charge and any reference to a Sub-Clause or paragraph
is to the relevant Sub-Clause or paragraph of the Clause or Schedule in which it
appears;

	 	(b)	 	the clause headings are included for convenience only and shall not affect the
interpretation of this Charge;

	 
	 	(c)	 	use of the singular includes the plural and vice versa;

	 	(d)	 	use of any gender includes the other genders;

	 	(e)	 	any phrase introduced by the terms “including”, “include”, “in particular” or
any similar expression shall be construed as illustrative and shall not limit the sense
of the words preceding those terms; and

	 	(f)	 	references to any document or agreement are to be construed as references to
such document or agreement as is in force for the time being and as amended, varied
supplemented, substituted or novated from time to time.

 

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	1.3	 	The Recitals and Schedules form part of this Charge and shall have effect as if set out in
full in the body of this Charge and any reference to this Charge includes the Recitals and
Schedules.

	1.4	 	The obligations of each person (if more than one person) constituting the Chargor under this
Charge are joint and several.

	1.5	 	In the event of any conflict between the provisions of this Charge and the Shareholder
Agreement, the provisions of the Shareholder Agreement shall prevail.

	2	 	Covenant to Pay

The Chargor covenants with the Chargee that it will on demand pay and discharge each of the
Secured Obligations when due to the Chargee.

	3	 	Charge

	3.1	 	The Chargor, with full title guarantee, hereby charges by way of first fixed charge as a
continuing security for the payment and discharge of the Secured Obligations, all its right,
title, interest and benefit present and future in, to and under the Charged Shares subject to
the provisions for release of this Charge set out below.

	 
	3.2	 	Unless and until a Termination Event has occurred:

	 	(a)	 	the Chargor shall be entitled to exercise all voting rights attaching to the
Charged Shares or any thereof for all purposes not inconsistent with the purposes of
this Charge, any of the Secured Obligations or of the Shareholder Agreement; and

	 	(b)	 	the Chargor shall be entitled to receive and retain any and all dividends and
other distributions paid in respect of the Charged Shares or any thereof.

	3.3	 	Subject to Clauses 3.4 and 3.5, on the irrevocable and unconditional payment or discharge by
or on behalf of the Chargor of the Secured Obligations in full, the Chargee shall, at the
request and cost of the Chargor, release this Charge.

	3.4	 	Any receipt, release or discharge of any security created by this Charge or of any liability
arising under this Charge may only be given by the Chargee in accordance with the provisions
on this Charge and shall not release or discharge the Chargor from any liability to the
Chargee for the same or any other monies which may exist independently of this Charge. Where
such receipt, release or discharge relates to only part of the Secured Obligations such
receipt, release or discharge shall not prejudice or affect any other part thereof nor any of
the rights and remedies of the Chargee hereunder or under any other agreement nor any of the
obligations of the Chargor under this Charge or any other agreement.

 

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	3.5	 	Any release, discharge or settlement between the Chargor and the Chargee shall be conditional
upon no security, disposition or payment to the Chargee or any other person being void, set
aside or ordered to be refunded pursuant to any enactment or law relating to liquidation,
administration or insolvency or for any other reason whatsoever and if such condition is not
fulfilled the Chargee shall be entitled to enforce this Charge as if such release, discharge
or settlement had not occurred and any such payment had not been made.

	3.6	 	The restriction on the consolidation of mortgages and on power of sale imposed by sections 35
and 40 respectively of the Conveyancing and Law of Property Act 1961 (as amended) (the “CPA
Act”) shall not apply to the security constituted by this Charge.

	4	 	Covenants by the Chargor

The Chargor covenants that:

	4.1	 	it shall deliver to the Chargee the following (on the date hereof) in form and substance
acceptable to the Chargee as security in accordance with the terms of this Charge:

(a) the original share certificates in respect of the Initial Shares;

	 	(b)	 	blank, signed and undated transfers in respect of the Initial Shares in the
form set out in Schedule 2;

The Chargor and the Chargee agree that within two months from the date hereof the Chargee
shall deposit the above documents (“Deposited Documents”) to a mutually agreed escrow agent.
In the escrow agreement by and among the Chargor, the Chargee and the said escrow agent,
among other things, the condition for release of the Deposited Documents shall be the notice
of default issued by Chargee solely, upon which notice, the escrow agent shall release the
Deposited Documents to the Chargee and give notice of such release to the Chargor.

	4.2	 	it shall deliver to the Chargee the following (within 10 Business Days from the date hereof),
a certified true copy of the Chargor’s register of charges, duly stamped and filed at the
Registry, showing details of this Charge;

	4.3	 	it shall promptly pay (and shall indemnify the Chargee on demand against) all calls,
instalments and other payments which may be made or become due in respect of the Charged
Shares and so that, in the event of default by the Chargor, the Chargee may do so on behalf of
the Chargor;

4.4 it shall not, except with the prior written consent of the Chargee:

	 	(a)	 	create or permit to exist over all or part of the Charged Shares (or any
interest therein) any Security Interest (other than created or expressly permitted to
be created under this Charge) whether ranking prior to, pari passu with or behind the
security contained in this Charge; or

	 	(b)	 	sell, transfer or otherwise dispose of the Charged Shares or any interest
therein or attempt or agree to so dispose (other than in accordance with this Charge);
or

	 	(c)	 	permit any person other than the Chargor or the Chargee or the Chargee’s
nominee or nominees to be registered as, or become the holder of, the Charged Shares;
or

	 	(d)	 	vote in favour of a resolution to amend, modify or change the memorandum and
articles of association of the Charged Company or to continue the Charged Company in a
jurisdiction outside the British Virgin Islands; or

	 	(e)	 	to the extent that the same is within the control of the Chargor, allow or
consent to any further shares in the Charged Company being issued to any person other
than the Chargor (and for the avoidance of doubt any such shares issued to the Chargor
will form part of the Charged Shares in accordance with this Charge);

 

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	4.5	 	it shall promptly forward to the Chargee all material notices, reports, accounts and other
documents relating to the Charged Shares which it may receive from time to time (including all
notices of meetings of the shareholders of the Charged Company);

	4.6	 	at any time after the occurrence of a Termination Event it shall exercise all voting and
other rights and powers which may at any time be exercisable by the holder of the Charged
Shares as the Chargee may in its absolute discretion direct;

	4.7	 	it shall not take or accept any Security Interest from the Charged Company or, in relation to
the Secured Obligations, from any third party, without the Chargee’s prior written consent;

	4.8	 	unless directed in writing to do so by the Chargee it shall not prove in a liquidation or
winding up of the Charged Company until all the Secured Obligations are paid in full and if
directed to prove by the Chargee (or if the Chargor otherwise receives any payment or other
benefit in breach of this Clause or Clause 4.9) the Chargor shall hold all monies received by
it on trust for the Chargee to satisfy the Secured Obligations; and

	4.9	 	until all of the Secured Obligations have been paid in full, it shall not claim payment
whether directly or by set-off, lien, counterclaim or otherwise of any amount which may be or
has become due to the Chargor by the Charged Company other than as contemplated and/or
expressly permitted by the Shareholder Agreement.

	5	 	Representations and Warranties by the Chargor

The Chargor represents and warrants to the Chargee and undertakes that, subject to any
approval or disclosure required under any law of New Zealand or the NZX Listing Rules:

	5.1	 	the Chargor is the absolute sole legal and beneficial owner of all of the Initial Shares free
of all Security Interests, trusts, equities and third party claims whatsoever (save those
under this Charge) and that all of the Initial Shares are fully paid up;

	5.2	 	the Initial Shares represent 80.81% of the shares issued by the Charged Company;

	5.3	 	the Initial Shares are freely transferable on the books of the Charged Company and no
consents or approvals are required in order to register a transfer of the Initial Shares;

	5.4	 	no litigation against the Chargor or the Charged Company is current or, to their knowledge
pending or threatened;

	5.5	 	it is duly incorporated and in good standing under the laws of the jurisdiction in which it
is incorporated and has and will at all times have the necessary power to enter into and
perform its obligations under this Charge and has duly authorised the execution and delivery of this
Charge and the performance of its obligations hereunder;

 

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	5.6	 	this Charge constitutes its legal, valid, binding and enforceable obligation and is a first
priority security interest over the Charged Shares effective in accordance with its terms;

	5.7	 	the execution, delivery, observance and performance by the Chargor of this Charge will not
require the Chargor to obtain any licences, consents or approvals and will not result in any
violation of any law, statute, ordinance, rule or regulation applicable to it;

	5.8	 	it is not necessary to file details of this Charge anywhere in the world, save as set out in
sections 162 and 163 of the BCA;

	5.9	 	it has obtained all the necessary authorisations and consents to enable it to enter into this
Charge and the necessary authorisations and consents will remain in full force and effect at
all times during the subsistence of the security constituted by this Charge;

	5.10	 	the execution, delivery, observance and performance by the Chargor of the Charge will not
constitute an event of default or trigger any enforcement under any Security Interest in the
Chargor’s assets nor will it result in the creation of any Security Interest over or in
respect of the present or future assets of the Charged Company;

	5.11	 	the execution, enforcement or payments made under this Charge will not be subject to any
taxes, fees or charges (including stamp duty) in the British Virgin Islands; and

	5.12	 	it will procure that details of the Charged Shares shall be entered into the register of
members of the relevant Charged Company.

	6	 	Power of Attorney

The Chargor hereby irrevocably and by way of security for the payment of the Secured
Obligations and the performance of its obligations under this Charge appoints the Chargee as
its true and lawful attorney (with full power to appoint substitutes and to sub-delegate) on
behalf of the Chargor and in the Chargor’s own name or otherwise, at any time and from time
to time, to sign, seal, deliver and complete all transfers, renunciations, proxies,
mandates, assignments, deeds and documents and do all acts and things which the Chargee may
consider to be necessary or advisable to perfect or improve its security over the Charged
Shares, to give proper effect to the intent and purposes of this Charge, or to enable or
assist in any way in the exercise of any right or the enforcement thereof including any
power of sale of the Charged Shares (whether arising under this Charge or implied by statute
or otherwise), provided that unless and until the occurrence of a Termination Event the
Chargee may not do anything pursuant to this appointment.

	7	 	Enforcement

	7.1	 	The percentage of the Company’s shares that may be enforceable under this charge shall be
equal to the Repurchase Price (as defined in the Shareholders Agreement) as a percentage of
the fair value of the Company’s equity.

 

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	7.2	 	After this Charge has become enforceable, in accordance with Clause 7.3, the Chargee may in
its absolute discretion enforce all or any part of this Charge in any manner it sees fit. For
the avoidance of doubt, the Chargee’s rights of enforcement shall include (without limitation)
the right:

	 	(a)	 	to perfect or improve its title to and security over the Charged Shares in such
manner as the Chargee may in its absolute discretion determine;

	 	(b)	 	with notice to, or upon consent or concurrence by, the Chargor to sell the
Charged Shares or any part thereof by such method, at such place and upon such terms as
the Chargee may in its absolute discretion determine, with power to postpone any such
sale and in any such case the Chargee may exercise any and all rights attaching to the
Charged Shares as the Chargee in its absolute discretion may determine and without
being answerable for any loss occasioned by such sale or resulting from postponement
thereof or the exercise of such rights;

	 	(c)	 	to receive and retain all dividends and other distributions made on or in
respect of the Charged Shares or any thereof and any such dividends and other
distributions received by the Chargor after such time shall be held in trust by the
Chargor for the Chargee and be paid or transferred to the Chargee on demand to be
applied towards the discharge of the Secured Obligations;

	 	(d)	 	to exercise (or enable its nominees to exercise) any and all powers,
discretion, voting or other rights or entitlements conferred on a holder of the Charged
Shares in such manner as the Chargee may in its absolute discretion determine;

	 	(e)	 	to exercise any and all other rights, powers and discretions of the Chargor in
respect of the Charged Shares in such manner as the Chargee may in its absolute
discretion determine;

	 	(f)	 	to procure that the Chargee or its nominee or nominees is registered in the
Register of Members of the Charged Company as holder of the legal title in and to the
Charged Shares;

	 	(g)	 	otherwise to enforce any of the rights of the Chargee under or in connection
with this Charge in such manner as the Chargee may in its absolute discretion
determine; and

	 	(h)	 	to date and deliver the documents delivered to it pursuant to this Charge as it
considers appropriate and to take all steps to register the Charged Shares in the name
of the Chargee or its nominee or nominees and to assume control as the registered owner
of the Charged Shares.

	7.3	 	Subject to Clause 7.4 below, the Chargee’s rights of enforcement in relation to this Charge
(other than those listed in section 66(5) of the BCA) shall become immediately enforceable
upon the occurrence of a Termination Event.

	7.4	 	For the purposes of section 66(7) of the BCA, notwithstanding any other provision of this
Charge, the Chargee may enforce all rights of enforcement set out in section 66(5) of the BCA
immediately upon the occurrence of a Termination Event that has been continuing for one day
and which remains unrectified for a period of not less than one Business Day following notice
given by the Chargee to the Chargor instructing the Chargor to immediately rectify such
Termination Event (an “Unrectified Termination Event”).

 

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	7.5	 	Neither the Chargee nor any Receiver (as defined in Clause 8 below) will be liable, by reason
of entering into possession of a Charged Share, to account as mortgagee in possession or for
any loss on realisation or for any default or omission for which a mortgagee in possession
might be liable.

	8	 	Receiver

	8.1	 	Without prejudice to the provisions of Clause 7 above, upon the service of an Enforcement
Notice the Chargee shall immediately become entitled to appoint one or more person or persons
eligible to be appointed as a receiver under the Insolvency Act as the Chargee thinks fit to
be a receiver (the “Receiver”) in relation to the Charged Shares. Where the Chargee appoints
two or more persons as Receiver, the Receivers may act jointly or independently.

	8.2	 	The Receiver may take such action in relation to the enforcement of this Charge including,
without limitation, to sell, charge or otherwise dispose of the Charged Shares, to exercise
any powers, discretion, voting or other rights or entitlements in relation to the Charged
Shares and generally to carry out any other action which he may in his sole discretion deem
necessary in relation to the enforcement of this Charge.

	8.3	 	To the fullest extent permissible under law, the Chargee may exercise any right or power that
the Receiver may exercise in relation to the enforcement of this Charge.

	8.4	 	The Receiver shall have, in addition to the other powers set out in this Clause, the
following powers:

	 	(a)	 	power to take possession of, collect and get in the Charged Shares and, for
that purpose, to take such proceedings as may seem to him to be expedient;

	 
	 	(b)	 	power to raise or borrow money and grant security over the Charged Shares;

	 	(c)	 	power to appoint an attorney or accountant or other professionally qualified
person to assist him in the performance of his functions;

	 	(d)	 	power to bring or defend any action or other legal proceedings in the name of
and on behalf of the Chargor in respect of the Charged Shares;

	 	(e)	 	power to do all acts and execute in the name and on behalf of the Chargor any
document or deed in respect of the Charged Shares;

	 	(f)	 	power to make any payment which is necessary or incidental to the performance
of his functions;

	 	(g)	 	power to make any arrangement or compromise on behalf of the Chargor in respect
of the Charged Shares;

	 	(h)	 	power to rank and claim in the insolvency or liquidation of the Charged Company
and to receive dividends and to accede to agreements for the creditors of the Charged
Company;

	 	(i)	 	power to present or defend a petition for the winding up of the Charged
Company; and

	 	(j)	 	power to do all other things incidental to the exercise of the foregoing
powers.

 

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	8.5	 	The Receiver shall be the agent of the Chargor and the Chargor alone shall be responsible for
his acts and defaults and liable on any contracts made, entered into or adopted by the
Receiver. The Chargee shall not be liable for the Receiver’s acts, omissions, negligence or
default, nor be liable on contracts entered into or adopted by the Receiver.

	9	 	Application of Monies

	9.1	 	The Chargee (and any Receiver) shall apply the monies received by it as a result of the
enforcement of the security:

	 	(a)	 	first, in payment or satisfaction of the expenses related to enforcement of
this security (including without limitation the fees and expenses of the Receiver);

	 	(b)	 	secondly, in meeting claims of the Chargee in respect of the Secured
Obligations; and

	 
	 	(c)	 	thirdly, in payment of the balance (if any) to the Chargor.

	9.2	 	The Chargee shall not be liable for any loss or damage:

	 	(a)	 	occasioned by any sale or disposal of the Charged Shares or an interest in the
Charged Shares; or

	 	(b)	 	arising out of the exercise, or failure to exercise, any of its powers under
this Charge; or

	 	(c)	 	occasioned by any neglect or default to pay any instalment or accept any offer
or notify the Chargor of any such neglect or default; or

	 	(d)	 	occasioned by any other loss of whatever nature in connection with the Charged
Shares.

	10	 	Protection of Purchasers

No bona fide purchaser or other bona fide person dealing with the Chargee or its delegate
shall be bound to see or inquire whether the right of the Chargee to exercise any of its
powers has arisen or become exercisable or be concerned with notice to the contrary, or be
concerned to see whether the delegation by the Chargee pursuant to the terms of this Charge
shall have lapsed for any reason or been revoked.

	11	 	Continuing Security and Non-Merger

Subject to Section 5 of the Shareholder Agreement, the security constituted by this Charge
shall be continuing and shall not be considered as satisfied or discharged by any
intermediate payment or settlement of the whole or any part of the Secured Obligations or
any other matter or thing whatsoever and shall be binding until all the Secured Obligations
have been unconditionally and irrevocably paid and discharged in full.

 

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	12	 	Currency

	12.1	 	For the purpose of, or pending the discharge of, any of the Secured Obligations the Chargee
may, in its sole discretion, convert any moneys received or recovered in any currency under
this Charge (including the proceeds of any previous conversion under this Clause) from their
existing currency of denomination into any other currency at such rate or rates of exchange
and at such time as the Chargee thinks fit.

	12.2	 	No payment to the Chargee (whether under any judgment or court order or otherwise) shall
discharge the Secured Obligations in respect of which it was made unless and until the Chargee
shall have received payment in full in the currency in which such Secured Obligations were
incurred and, to the extent that the amount of any such payment shall on actual conversion
into such currency fall short of such Secured Obligations expressed in that currency, the
Chargee shall have a further separate cause of action against the Chargor and shall be
entitled to enforce this Charge to recover the amount of the shortfall.

	13	 	Costs

The Chargor shall on demand and on a full indemnity basis pay to the Chargee the amount of
all costs and expenses and other liabilities (including stamp duty, and legal and
out-of-pocket expenses) which the Chargee incurs in connection with enforcing or any part of
this Charge.

	14	 	Variation and Amendment

This Charge shall remain in full force and effect notwithstanding any amendments or
variations from time to time of the Shareholder Agreement and no variation of this Charge
shall be valid unless it is in writing and signed by or on behalf of each of the parties.

	15	 	Assignment

	15.1	 	The Chargor may not assign or transfer all or any part of its rights, benefits or obligations
under this Charge to any other person without the prior written consent of the Chargee.

	15.2	 	The Chargee may not assign or otherwise transfer the whole or any part of the rights,
benefits and obligations under the Charge to any other person without the prior written
consent of the Chargor.

	16	 	Entire Agreement

This Charge constitutes the entire agreement and understanding of the parties and supersedes
any previous agreement between the parties relating to the subject matter of this Charge.

	17	 	Further Assurance

	17.1	 	The Chargor shall promptly execute all documents and do all things that the Chargee may
specify for the purpose of:

	 	(a)	 	securing and perfecting its security over or title to all or any of the Charged
Shares; or

	 	(b)	 	enabling the Chargee to vest all or part of the Charged Shares in its name or
in the names of its nominee(s), agent or any purchaser.

 

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	18	 	Notices

	18.1	 	Without prejudice to any other method of service of notices and communications provided by
law, a demand or notice under this Charge shall be in writing signed by an officer or agent of
the Chargee or the Chargor, as the case may be, and may be served on the Chargor or the Chargee,
as the case may be, by hand, by post, or by facsimile transmission. Any such notice or
communication shall be sent to the address or number of the relevant party as set out below:

Chargor:

Agria Group Limited

Address:

21/F Tower B, PingAn International Finance Center, 1-3 Xinyuan South Road, 

Chaoyang
District, Beijing, China

Facsimile Number: 010-84381003

For the attention of: John Layburn

Chargee:

New Hope International (Hong Kong) Limited
Address:

Suite 2508, West Tower, LG Twin Towers, Jianguomenwai Avenue,

Chaoyang District, Beijing, China

Facsimile Number: 010-65676087

For the attention of: Tianli Zhang

	18.2	 	Any such notice or communication given by the Chargee shall be deemed to have been received:

	 	(a)	 	if sent by facsimile transmission, at the time of transmission, or the
following Business Day if transmitted after normal business hours;

	 	(b)	 	if delivered personally (including being sent by courier), at the time of
delivery, or the following Business Day if delivered after normal business hours; and

	 	(c)	 	if posted, on the fifth Business Day following the day on which it was properly
despatched by courier.

	18.3	 	Any notice given by the Chargor shall be deemed to have been given only on actual receipt by
the Chargee.

	18.4	 	In proving such service it shall be sufficient to prove that the envelope containing such
notice was addressed to the address of the relevant party set out in Clause 18.1 (or as
otherwise notified by that party hereunder) and delivered either to that address or into the
custody of the postal authorities as a pre-paid recorded delivery, registered post or airmail
letter, or that the notice was transmitted by fax to the fax number of the relevant party set
out in Clause 18.1 (or as otherwise notified by that party hereunder).

	18.5	 	For the avoidance of doubt, notice given under this Charge shall not be validly served if
sent by e-mail.

 

12

 

	19	 	Miscellaneous

	19.1	 	All sums payable by the Chargor under this Charge shall be paid without any set-off,
counterclaim, withholding or deduction whatsoever unless required by law in which event the
Chargor will simultaneously with making the relevant payment under this Charge pay to the
Chargee such additional amount as will result in the receipt by the Chargee of the full amount
which would otherwise have been receivable and will supply the Chargee promptly with evidence
satisfactory to the Chargee that the Chargor has accounted to the relevant authority for the
sum withheld or deducted.

	19.2	 	No delay or omission on the part of the Chargee in exercising any right or remedy under this
Charge shall impair that right or remedy or operate as or be taken to be a waiver of it nor
shall any single, partial or defective exercise of any such right or remedy preclude any other
or further exercise under this Charge of that or any other right or remedy.

	19.3	 	The Chargee’s rights powers and remedies under this Charge are cumulative and are not, nor
are they to be construed as, exclusive of any rights, powers or remedies provided by law or
otherwise and may be exercised from time to time and as often as the Chargee deems expedient.

	19.4	 	Any waiver by the Chargee of any terms of this Charge or any consent or approval given by the
Chargee under it shall be effective only if given in writing and then only for the purpose and
upon the terms and conditions (if any) on which it is given.

	19.5	 	If at any time any one or more of the provisions of this Charge is or becomes illegal,
invalid or unenforceable in any respect under any law of any jurisdiction neither the
legality, validity or enforceability of the remaining provisions of this Charge nor the
legality, validity or enforceability of such provision under the law of any other jurisdiction
shall be in any way affected or impaired as a result.

	19.6	 	Any statement, certificate or determination of the Chargee as to the Secured Obligations or
(without limitation) any other matter provided for in this Charge shall, in the absence of
manifest error, be conclusive and binding on the Chargor.

	19.7	 	The Chargor shall at all times maintain an agent for service of process in the British Virgin
Islands. Such agent shall be ______ of ______ and any writ, judgment or other notice of
legal process shall be sufficiently served on the Chargor if delivered to such agent at its
address set out above. The Chargor undertakes not to revoke the authority of the above agent
and if, for any reason, such agent no longer serves as agent of the Chargor to receive service
of process the Chargor shall promptly appoint another such agent and advise the Chargee of the
new agent’s name and address for service.

	20	 	Law and Jurisdiction

	20.1	 	This Charge is governed by, and shall be construed in accordance with, the laws of the
British Virgin Islands.

	20.2	 	The Chargor irrevocably agree for the exclusive benefit of the Chargee that the courts of the
British Virgin Islands shall have jurisdiction to hear and determine any suit, action or
proceeding and to settle any dispute which may arise out of or in connection with this Charge
and for such purposes irrevocably submits to the jurisdiction of such courts.

21 Counterparts

This Charge may be executed in any number of counterparts and all such counterparts taken
together shall be deemed to constitute one and the same instrument.

 

13

 

In witness whereof this Charge has been executed and delivered as a deed the day and year first
above written.

EXECUTED AS A DEED for and on behalf of Agria Group Limited as Chargor

	 	 	 	 	 
	/s/ Lai Guanglin	 	 
	 	 	 
	Name:

	 	Lai Guanglin	 	 
	Title:

	 	Director	 	 
	 
	 	 	 	 
	In the presence of:	 	 
	 
	 	 	 	 
	/s/ Mia Li	 	 
	 	 	 
	Name:

	 	Mia Li	 	 
	Title:

	 	In-house Counsel	 	 

EXECUTED AS A DEED for and on behalf of New Hope International (Hong Kong) Limited as Chargee

	 	 	 	 	 
	/s/ [Illegible]	 	 
	 	 	 
	Name:
	 	 	 	 
	Title:

	 	Director	 	 
	 
	 	 	 	 
	In the presence of:	 	 
	 
	 	 	 	 
	 	 	 
	Name:
	 	 	 	 
	Title:
	 	 	 	 

 

14

 

Schedule 1

The Initial Shares

	 	 	 	 	 	 	 	 	 	 	 
	Column A	 	Column B	 	Column C	 	Column D	 	Column E	 
	Chargor

	 	Place of 

incorporation of 

Charged 

Company
	 	Charged 

Company
	 	Place of 

incorporation of 

Chargor
	 	No. of 

shares
	 
	 
	 	 	 	 	 	 	 	 	 	 
	Agria Group Limited

	 	British Virgin

Islands
	 	Agria Asia

Investment Limited
	 	British Virgin

Islands
	 	 	84,078,522	 

 

 

 

Schedule 2

Form of Instrument of Transfer of Shares

S H A R E   T R A N S F E R

Agria Group Limited (the “Transferor”) for value received does hereby transfer to New Hope

Group International (Hong Kong) Limited (the “Transferee”), all the shares standing in the

Transferor’s name in the undertaking called Agria Asia Investments Limited (a company

incorporated in the British Virgin Islands) (the “Company”), to hold the same unto the

Transferee.

Signed for and on behalf of the Transferor

Name:

Title: Director

Dated this                      day of                     

The Transferee does hereby agree to accept the above shares subject to the provisions of the

Memorandum and Articles of Association of the Company.

Signed by or on behalf of the Transferee

Name:

Title:

Dated this ______ day of ___________

 

16Exhibit 4.57

Exhibit 4.57

28 June 2011

Guanglin Lai

as Guarantor

and

New Hope International (Hong Kong) Limited

as Beneficiary

DEED OF GUARANTEE

 

 

 

CONTENTS

	 	 	 	 	 
	Clause	 	Page	 
	 
	 	 	 	 
	1. Interpretation
	 	 	1	 
	2. Guarantee
	 	 	2	 
	3. Discharge And Release
	 	 	2	 
	4. Demands
	 	 	3	 
	5. Permitted Transfer
	 	 	3	 
	6. Choice Of Law
	 	 	3	 
	7. Jurisdiction And Process Agent
	 	 	3	 

 

 

 

	 
	THIS GUARANTEE is made on 28 June 2011

	 

	BETWEEN

	(1)	 	Guanglin Lai, holding passport (No. ________) (the “Guarantor”) and

	(2)	 	Agria Group Limited, a company incorporated under the laws of the British Virgin Island (the
“Company”);

	(3)	 	New Hope International (Hong Kong) Limited, a company incorporated in Hong Kong ( the
“Beneficiary”)

WHEREAS

	(A)	 	the Company and the Beneficiary entered into a shareholders agreement on_____, 2011 (the
“Shareholders Agreement”) in connection with their shareholding in Agria Asia Investments
Limited, a company incorporated under the laws of the British Virgin Island (“Agria Asia”).

	(B)	 	under the Shareholders Agreement, the Company agreed that it will cause the Guarantor to
enter into this Guarantee; and
	 
	(C)	 	it is intended by the parties hereto that this Guarantee shall take effect as a deed.

IT IS AGREED:

	1.	 	Interpretation
	 
	1.1	 	Definitions: In this Guarantee (including the recitals), except where the context otherwise requires:

“Guaranteed Obligations” means any and all amounts and financial obligations whatsoever
which are by the terms of Section 4 of the Shareholders Agreement outstanding, from time to
time, and to be paid or discharged by the Company or Guarantor to or for the benefit of the
Beneficiary and references to the Guaranteed Obligations include references to any part of
them;

	1.2	 	Interpretation: except where the context otherwise requires, any references in this Guarantee to:

	 	(a)	 	a clause shall be to a clause of this Guarantee;

	 	(b)	 	any agreement or document (including, without limitation, references to this
Guarantee) shall be deemed to include references to a concession, contract, deed,
franchise, license, treaty or undertaking and to such agreement or other document as
varied, supplemented, novated or replaced from time to time;

	 	(c)	 	persons shall be deemed to be references to or to include, as appropriate, any
corporation, association, partnership or other entity and includes their respective
successors, transferees, assigns and any persons with whom they may at any time
amalgamate; and

	 	(d)	 	winding up includes bankruptcy and any procedure under any applicable law which
is analogous to winding up or bankruptcy.

Headings and the table of contents are for ease of reference only.

 

1

 

	2.	 	Guarantee

	2.1	 	At the request of Agria Corporation and in the interest of Agria Corporation, the Guarantor
hereby unconditionally and irrevocably:

	 	(a)	 	guarantees to the Beneficiary prompt payment by the Company on the due date and
due discharge of all of the Guaranteed Obligations in accordance with the Shareholders
Agreement; and

	 	(b)	 	subject to the terms of the Shareholders Agreement, undertakes to the
Beneficiary that, if and each time that the Company does not make payment of any amount
of the Guaranteed Obligations, in each case in accordance with the Shareholders
Agreement, the Guarantor shall pay to the Beneficiary to which the amount is due in
whatever currency denominated or, as the case may be, perform or procure performance of
any of the Company’s other obligations not performed upon first written demand by the
Beneficiary.

Provided that, the liability under this Section 2.1 of the Guarantor shall be limited to
US$25,000,000.

	2.2	 	The Guarantor acknowledges having received a copy of the Shareholders Agreement and confirms
its acceptance of the provisions thereof.

	3.	 	Discharge And Release
	 
	3.1	 	Upon the first to occur of the following events:

	 	(a)	 	the Guaranteed Obligations have been irrevocably discharged in full;

	 	(b)	 	the Second Pledge Agreement (as defined in the Shareholders Agreement) has been
duly executed and delivered by Agria (Singapore) Pte. Ltd. to the Beneficiary;

	 	(c)	 	the Put Options (as defined in the Shareholders Agreement) have been exercised
by the Beneficiary to the fullest extent and the Company has paid to the Beneficiary
all of the considerations in connection with the Put Options as determined by Section
4.2 of the Shareholders Agreement;
	 
	 	(d)	 	(i) New Hope does not exercise the Put Option within 30 days after three years
following the Completion Date (as defined in the Shareholders Agreement) or (ii) New
Hope does not exercise the Put Option within 45 days after the
occurrence of all of the events set forth in Section 4.1.2 (a) — (b) of the
Shareholders Agreement, which occurrence shall be communicated to New Hope by Agria
Group within 5 days after such occurrence; and

	 	(e)	 	the Beneficiary has waived the Company’s performance of the Guaranteed
Obligations.

the Beneficiary shall discharge or release the Guarantor from its obligations hereunder.

 

2

 

	4.	 	Demands

Demands under this Guarantee may be made by the Beneficiary only after all other reasonable
demands, steps or proceedings by the Beneficiary have been made or taken against the Company
and its affiliates.

	5.	 	Permitted Transfer

Nothing in this Guarantee shall restrict the Guarantor’s ability to transfer any or all of
his assets (including but not limited to his shares in Agria Corporation) to his immediate
family member or a trust formed for the benefit of the Beneficiary or any immediate family
member of the Beneficiary, provided that the Guarantor shall notify the Guarantee of such
transfer no later than 15 days after such transfer.

	6.	 	Choice Of Law

This Guarantee is governed by, and shall be construed in accordance with, Hong Kong law.

	7.	 	Jurisdiction And Process Agent

	7.1	 	All the parties agree that any dispute or claim arising out of or in connection with or
relating to this Guarantee, or the breach, termination or invalidity hereof (including the
validity, scope and enforceability of this arbitration provision), shall be finally resolved
by arbitration in Hong Kong under the auspices of the Arbitration Centre and in accordance
with the Hong Kong International Arbitration Centre Procedures for the Administration of
International Arbitration (“Arbitration Rules”) as are in force at the date of this Guarantee
and as may be amended by the rest of this Clause 7.1. For the purpose of such arbitration,
there shall be three arbitrators (“Arbitration Board”). The Beneficiary(ies) involving the
dispute shall select one arbitrator and the Guarantor shall select one arbitrator. All
selections shall be made within 30 days after the selecting party gives or receives the demand
for arbitration. Such arbitrators shall be freely selected, and the parties shall not be
limited in their selection to any prescribed list. The Chairman of the Arbitration Centre
shall select the third arbitrator. If any arbitrator to be appointed by a party has not been
appointed and consented to participate within 30 days after the selection of the first
arbitrator, the relevant appointment shall be made by the Chairman of the Arbitration Centre.

	7.2	 	All arbitration proceedings shall be conducted in English in strict confidence. The
Arbitration Board shall decide any such dispute or claim strictly in accordance with the
governing law specified in Clause 6. The order for enforcement of any arbitral
award rendered hereunder may be entered in any court having jurisdiction, or application may
be made to such court for a judicial acceptance of the award and an order of enforcement, as
the case may be.

 

3

 

	7.3	 	Any award made by the Arbitration Board shall be final and binding on each of the Parties
that were parties to the dispute. The Parties expressly agree to waive the applicability of
any laws and regulations that would otherwise give the right to appeal the decisions of the
Arbitration Board so that there shall be no appeal to any court of law for the award of the
Arbitration Board, and a Party shall not challenge or resist the enforcement action taken by
any other Party in whose favour an award of the Arbitration Board was given.

	7.4	 	The Guarantor irrevocably waives any objections to the jurisdiction of any courts referred to
in this Clause 7.

	7.5	 	The Guarantor irrevocably consents to service of process or any other document in connection
with the arbitration proceedings by facsimile transmission, personal service, delivery at any
address specified in this Guarantee or in the Shareholders Agreement or any other usual
address, mail or in any other manner permitted by Hong Kong law, the law of the place of
service or the law of the jurisdiction where proceedings are instituted.

 

4

 

This Guarantee has been duly executed and delivered as a deed on the date first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	SIGNED, SEALED AND DELIVERED	 	 	)	 	 	 	 	 
	as a DEED by	 	 	)	 	 	/s/ Lai Guanglin	 	 
	 

	 	 	 	 	 	 	 	 	 	 

	 	 
	the Guarantor	 	 	)	 	 	 	 	 
	in the presence of: Mia Li	 	 	)	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	SIGNED for and on behalf of	 	 	)	 	 	 	 	 
	Agria Group Limited	 	 	)	 	 	/s/ Lai Guanglin	 	 
	 

	 	 	 	 	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	by:	 	/s/ Lai Guanglin	 	 	)	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Title:
	 	Director
	 	 	)	 	 	 	 	 
	 

	 	 	 	 	 	 	)	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	SIGNED for and on behalf of	 	 	)	 	 	 	 	 
	New Hope International (Hong Kong) Limited	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	by:	 	/s/ [Illegible]	 	 	)	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Title:
	 	Director
	 	 	)	 	 	 	 	 
	 

	 	 	 	 	 	 	)	 	 	 	 	 

 

5

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