Document:

Asia Green Agriculture Corporation: Exhibit 10.49 - Filed by newsfilecorp.com

	Exhibit 10.49
  

RMB Liquid Fund Loan Contract 

Contract No.: (2010) Jian Ping Song Dai CZ Zi No.4) 

 

	Borrower (Party A): Fujian Yada Group Co., Ltd 	  
	Domicile (Address): Shuinan Industrial Road, Songxi County
    	Zip Code: 353500 
	Legal Representative: Zhan Youdai 	  
	Fax: 2332598 	Tel: 2332688 

 

 

	Lender (Party B): China Construction Bank Corporation 	  
	Ltd. of Songxi Branch 	  
	Domicile (Address): No. 121, Jiefang Street, Songyuan Town,
    	Zip Code: 353500 
	Songxi Province 	  
	Legal Representative: Liu Liquan 	  
	Fax: 2322644 	Tel: 2322670 

 

	Exhibit 10.49 

For the purpose as set forth in Article 2 of this Contract,
Party A hereby applies to Party B for a loan, and Party B agrees to release the
loan to Party A (the “Loan”). This Contract is made in line with Contract
Law of the People's Republic of China and the General Provisions of Loans to
specify the rights and obligations of parties involved. 

ARTICLE 1     
AMOUNT OF LOAN 

Party A borrows RMB (In words) Eight Million from Party
B. 

ARTICLE 2     
USAGE OF LOAN AND SOURCE OF REPAYMENT 

Purpose of the Loan, source of the repayment under the Contract
will be referred to Annex 1 named “Basic Information of the Loan”. 

ARTICLE 3     
TERM OF LOAN 

The term of loan under this Contract is 12 months, commencing
from November 26, 2010, and ending on November 26, 2011. 

In the event that the commencement date of the Loan under this
Contract conflicts with the archived document (loan receipt), the actual issuing
date of the Loan demonstrated on the Loan archived document at the first time of
issuance of such a loan shall govern and the aforementioned maturity date of the
Loan shall change accordingly. 

The archived document is part of the Contract with equal legal
effect. 

ARTICLE 4     
INTEREST RATE OF THE LOAN, PENALTY INTEREST RATE, CALCULATION AND
SETTLEMENT 

1.      Interest Rate of the Loan 

The interest of the loan under this Contract is calculated on a
per annum basis in accordance with the section (2) as follows: 
(1) Fixed
rate at ___%, within the term of the Loan, this rate will not be adjusted;

(2) The interest rate shall be the benchmark rate at the commencing date of
the interest (the “Commencement Rate”) at the corresponding level
plus (plus/ minus) 10%, such interest rate will not change within
the term of the Loan; 
(3) Floating rate shall be the benchmark rate at the
Commencement Date at the corresponding level ___ (plus/ minus)
__%, and such floating rate shall be adjusted once ___ months in
accordance with the benchmark rate of the rate adjusting date as well as the
above plus/ minus level from the interest commencing date to the liquidation
date of fulfilling all the principal and interests under the Contract; or 

(4) __________. 

 

	Exhibit 10.49 

2.      Penalty Interest Rate 

(1) In the event that Party A does not use the Loan in
accordance with this Contract, the penalty interest rate will be the interest
rate of the Loan plus 100%. If the interest rate of the Loan has been
adjusted in line with the above section (3), the penalty interest rate will be
adjusted based upon the above interest rate and the corresponding level
accordingly. 
(2) The penalty interest rate of the overdue Loan will be the
interest rate of the Loan plus 50%. If the interest rate of the Loan has
been adjusted in line with the above section (3), the penalty interest rate will
be adjusted based upon the above interest rate and the corresponding level
accordingly. 
(3) In the condition that both the loan becomes overdue and
there is misuse of the Loan, the penalty rate or a double rate should be imposed
subject to the severity. 

3.      The Commencement Date hereof
means the date when the initially issued Loan is archived to the loan issuing
account (the “Loan Issuing Account”) as agreed in Article 6 of the
Contract. 

The benchmark interest rate at the first time of issuance of
the Loan means the loan interest rate at the corresponding time and level
announced by the People’s Bank of China. Thereafter, when the aforementioned
interest rate is adjusted, the benchmark interest rate means the loan interest
at the corresponding time and level announced by the People’s Bank of China on
the adjustment date. If the People’s Bank of China does not announce the loan
interest at the corresponding time and level, the benchmark interest rate will
be the loan interest rate recognized by inter-banks or at the usual and
corresponding time and level on the adjusting date, unless both Parties agree
otherwise. 

4.      The interest of the Loan will
commence from the date when the Loan is archived to the Loan Issuing Account.
The interest of the Loan will be calculated on a daily basis (daily interest
rate=annual interest rate/360). If Party A fails to pay for the interest on the
settlement date as agreed under this Contract, the compound interest rate will
be collected from the following day. 

5.      Settlement of Interest 

(1) A loan with a fixed interest rate shall be settled in
accordance with the agreed interest rate. For a loan with a floating interest
rate, the interest rate shall be decided based upon the interest rate in each
floating term. 
(2) This Contract shall settle the interest based upon
section (i) as follows: 
     (i) monthly settlement
of the interest; the settlement date will be 20th day of each month;

 

	Exhibit 10.49 

     (ii) quarterly settlement of the
interest; the settlement date will be 20th day of the last month of
each quarter; or 
     (iii) __________. 

ARTICLE
5      ISSUANCE AND PAYMENT OF THE
LOAN 

1.      Precondition of Issuing Loan

Unless the following preconditions are consecutively satisfied
or Party B gives up the whole or part of such preconditions, Party B is
obligated to issue the Loan as long as: 

(1) Party A has fulfilled related approvals, registrations,
deliveries, insurance and other legal procedures as required under this
Contract; 
(2) If the Contract requires any guarantee, such guarantee meeting
Party B’s requirements has been effective and continues to be effective; 
(3)
Party A has opened an account for withdrawing and depositing money as required
by Party B; 
(4) Party B does not breach the Contract; 
(5) No situation
that will harm the credit of Party A as agreed under the Contract has occurred;

(6) Issuance of the Loan under the Contract by Party B is not prohibited or
limited by laws, regulations or competent authorities; 
(7) The financial
index of Party A consecutively meets the requirements as addressed in Annex 2
titled “Financial Index Binding Provision”; 
(8) Party A has submitted
relevant materials as agreed in the Contract prior to issuing the Loan; 
(9)
The materials provided by Party A to Party B are legal, authentic, integrated,
accurate, effective and meet the other requirements of Party B; and 
(10)
Other pre-conditions: _____________________. 

2.      Loan-paying Plan 

Loan paying means Party B issues the Loan to the Loan Issuing
Account in accordance with the requirements of Party B and as agreed in the
Contract. 

Loan-paying plan shall be decided in accordance with the first
method as follows: (1) Loan-paying Plan: 

	(i) November 26, 2010 	Amount: RMB 8,000,000 
	(ii) Date 	Amount 
	(iii) Date 	Amount 
	(iv) Date 	Amount 
	(v) Date 	Amount 
	(vi) Date 	Amount 

 

	Exhibit 10.49 

(2) Loan-paying Plan: 

	(i) From______to 	Amount 
	(ii) From______to 	Amount 
	(iii) From______to 	Amount 
	(iv) From______to 	Amount 
	(v) From______to 	Amount 
	(vi) From______to 	Amount 

(3) Paying at any time as required by Party A; or 

(4) _______________.3. Party A shall use the Loan in accordance
with the above loan-paying plan. Unless Party B agrees in writing, Party A shall
not accelerate, postpone, split or cancel the Loan. 

4.      If Party A divides and uses
the Loan more than once, the expiration date of the Loan shall be decided in
accordance with Article 3 of the Contract. 

5.      Materials Provided by Party A.

Party A and Party B choose to use the No.1 item as
follows (item No.1 or No.2) regarding the agreement on Party A’s providing
materials: 

No.1 

(1) Only satisfying the No.2 requirement: 

     (i) Single use of the Loan exceeds
RMB30,000,000 and any payment under such Loan exceeds
RMB30,000,000; 
     (ii) __________________. 

Party A shall provide Party B the following materials no later
than _____ working days prior to using such Loan: 

     (i) Loan archived documents and
payment settlement certificates signed and chopped by Party
A; 
     (ii) Transactional documents including, but
not limited to, goods, services, capital contracts and/or invoices in writing or
in electronic format that can be evidence for the capital and use of such Loan;

and other documents by Party A as required by Party B
(including, but no limited to, business licenses, power of attorney, bylaws,
shareholders resolutions, board resolutions and other materials of the parties
having transactions with Party A). 

(2)      Except for the above
agreements or that Party B decides that Party A is authorized to decide the payment as agreed in section 7
hereinafter based upon Party B’s reviewing the materials provided by Party A,
Party A shall provide the following materials to Party B no later than five
(5) working days prior to using such Loan: 

 

	Exhibit 10.49 

     (i) Plan of using the Loan in line
with the proposed Loan; 
     (ii) Loan archived
documents signed and chopped by Party A. 

No.2 

Regardless of the amount of each Loan, Party A shall provide
Party B with the following materials no later than _____working days prior to
using such Loan: 

     (i) Loan archived documents and
payment settlement certificates signed and chopped by Party
A; 
     (ii) Transactional documents (including,
but not limited to, goods, services, capital contracts and/or invoices in
writing or in electronic format that can evidence the capital and use of the
Loan; 

and other documents by Party A as required by Party B
(including, but no limited to, business licenses, power of attorney, bylaws,
shareholders resolutions, board resolutions and other materials of the parties
having transactions with Party A). 

6.      Entrusted Payment of Party B

(1)    Application of Entrusted Payment of Party
B 

In the event that a single payment meets the requirement of
_______, such payment should be entrusted to Party B, i.e. Party A irrevocably
entrusts Party B to pay the capital to a third party who has a transaction with
Party A. Party A is prohibited to extend such a payment to its cooperator or any
third party. 

     (i) A single payment that exceeds
RMB30,000,000, any payment within the scope of such capital to a third party
exceeds RMB30,000,000, and Party B approves the payment to the payee based upon
materials provided by Party A; 
     (ii) Regardless
the amount of each Loan, Party B is entrusted to fulfill the
payment; 
     (iii) ____________________. 

(2)    In the event that Party B is entrusted to
fulfill the payment, Party B shall archive such capital to the Loan Issuing
Account and pay the Loan to the account of the cooperator of Party A directly.
Party A shall not dispose the Loan in any manner (including, but not limited to,
transferring and withdrawing deposit). 

(3)    Party B will conduct a formal examination
on the amount of payment, time of the payment, the payee, the method of payment and the underlying
accounting based upon materials provided by Party A. After Party B finishes such
an examination of the above elements and decides that such elements meet Party
B’s requirements, Party B shall pay for the partner of Party A. Once the Loan is
archived into the account of the partner, it will deem that Party B fulfills the
obligation of the entrusted payment. Party A shall confirm whether such a
payment is successful within one (1) working day after the payment in a timely
manner. If the payment fails, Party A shall inform Party B at once. Party A
shall guarantee that the partner and use of the Loan are in line with the
transactional documents. 

 

	Exhibit 10.49 

(4)    The formal examination of the above
elements of payment means that neither confirms Party B the authenticity and
legal compliance of any transaction nor intervenes with any dispute between
Party A and its cooperator or any other third party or any responsibility and
duty burdened by Party A. For any damages suffered by Party B due to the
entrustment, Party A shall compensate Party B. 

(5)    In the event that any payment was not
successfully or timely archived into the account of Party A’s cooperator due to
the materials provided by Party A not being integrated, authentic, in compliance
with the specific use of the capital, or the conflicts exist in the materials
provided by Party A, which are not the fault of Party B, both Parties shall
follow the agreements below: 

     (i)    all the damages,
including, but not limited to, failure of paying the Loan or failure of paying
the Loan in a timely manner, shall be burdened by Party A. Party B shall not be
liable for such damages and any loss suffered by Party B shall be compensated by
Party A; 
     (ii)   Party A shall not
dispose such a Loan in any manner (including, but not limited to, transferring
and withdrawing deposit); 
     (iii)  Party A
shall provide new materials and correct information within _____working days as
required by Party B. 

If Party A breaches any of the above agreement, Party B is
authorized to recover such loan capital ahead of the schedule. 

(6)    Any failure, mistake, delay of paying the
Loan, other risks, liabilities and damages shall be burdened by Party A and
Party B shall not be liable for the aforementioned. Party A shall compensate
Party B all the damages arise hereof. 

7.      Payment by Party A 

In the event that does not satisfy the requirements addressed
in the above section 6(1) regarding the entrusted payment, Party A is authorized
to pay by itself, i.e. Party A will pay for its cooperator after Party B’s
archiving the loan capital into the Loan Issuing Account based upon Party A’s
application for withdrawing deposit. Party A shall guarantee that the cooperator and use of the Loan are in
line with the transactional documents. 

 

	Exhibit 10.49 

8.      Regardless of whether the
payment is made by Party A or entrusted to Party B, once the loan capital is
archived into the Loan Issuing Account, it is deemed that Party B has fulfilled
its obligation of issuing the capital. Party A shall guarantee that the status
of the Loan Issuing Account is normal (including, but not limited to, freezing
by competent authorities, deducting and so on). Any freezing or deducting
conducted by the relevant authorities after the loan capital is archived into
the Loan Issuing Account, other risks, liabilities and loss shall be shouldered
by Party A. All the damages suffered by Party B shall be compensated by Party A.

9.      When any of the following
events occur, Party B is authorized to change the method of paying the loan
capital, including, but not limited to, adjusting the entrusted payment (such
as, adjusting the standard amount of the entrusted payment), altering the
payment method of a single loan capital and so on: 

     (i) Party A breaches any agreement
under this Contract; 
     (ii) Any event that could
harm the credit of Party B as agreed under this
Contract; 
     (iii) Other situations where Party B
deems that it is necessary to change the payment method of the loan capital.

When Party B changes the payment method, Party A shall provide
new materials as agreed under this Contract and required by Party B. 

ARTICLE
6      USE AND SUPERVISION OF THE
ACCOUNT 

1.      Loan Issuing Account 

The Loan Issuing Account under this Contract shall be decided
in accordance with the No.2 method as follows: 

        (i) Within ____
working days after the Contracts becomes effective and prior to the first loan
issuance, Party A shall open a special capital issuing account under the
services of Party B. This account shall specialize in issuing and paying all the
loans under the
Contract. 
         (ii) Other
accounts of Party A opened under the services of Party B (Account No.:
35001677607059558888). 

2.      Capital Collecting Account

(1)    Within ___ working days after the
Contract becomes effective, Party A shall open a capital colleting account or
use an existing account (Account No.: 35001677607059558888) as the
capital collecting account under the services provided by Party B. 

 

	Exhibit 10.49 

(2) Party A shall report the fund
flows of the capital colleting account to Party B quarterly (“monthly” or
“quarterly”) as a circle. Party A shall collect and report the fund flows of the
last circle to Party B no later than fifteen (15) working days at the
beginning of each circle. 

(3) Party B is bestowed to manage the fund flows
of the capital collecting account, concretely; the capital collecting account
shall meet the ______ requirements as follows: 

     (i) Average capital stock in the
account: ______________________________
     (ii) Time of
the collecting fund: _____________________________
    
(iii) Ratio of total sale amount of Party A collected into the account:
__________
     (iv) Limitation on a single amount in the
account payable to the outside: _______
     (v)
Limitation on amount in the account per day payable to the outside:
_______
     (vi) Limitation on signing with online
banks: ____________________________

     (vii) Any
payment of the capital of the account to the outside shall be agreed by 

      Party B:
  _______________________________________________________

       (viii) Such an account shall only be used for collecting or paying loans under
  the Contract and is not allowed to be used for any other purpose:
  ___________________

       (ix)
  _____________________________________________________________

       (x) Other requirements provided by Party B; 

       (xi) Shall execute any related arrangement in line with the account management
  agreement entered into by Party A and Party B. 

ARTICLE 7     
REPAYMENTS 

1.      Sequence of Repayment 

The repayment by Party A under the Contract shall be in
accordance with the following rules: 

Party B has the right to require Party A to repay any fee that
should have been burdened by Party A but advanced by Party B as agreed under the
Contract, and fees incurred to realize the credit of Party B. The remainder of
the repayment shall be used to repay the interest first and then repay the
principal in line with the rule of clearing the interest with the principal.
However, as to the overdue principal and interest for ninety (90) days without
being collected or other loans as regulated by laws, regulations and ordinances,
Party A shall repay the principal first and then repay the interest after
fulfilling the above fees. 

2.      Repayment of Interest 

Party A shall repay Party B the interest at the date of
settling such interest. The first day of repaying the interest is the first day
of settling the interest after issuing the Loan. At the last time of repaying the Loan, the interest shall
be repaid together with the principal. 

 

	Exhibit 10.49 

3.      Plan of Repaying Principal

The plan of repaying principal shall be decided in accordance
with the 1st method: 

	(1) 	
      November 26, 2011, amount
    RMB8,000,000;

	(2) 	
      Date____________, amount _____________;

	(3) 	
  Date____________, amount _____________;

	(4) 	
      Date____________, amount _____________;

	(5) 	
  Date____________, amount _____________;

	(6) 	
      Date____________, amount
_____________;

4.      Method of Repayment 

Party A shall prepare enough capital in the capital colleting
account or other accounts opened under the services of Party B prior to the
repayment date and make such accounts automatically transferred (Party B is
authorized to draw the repayment in the account), or Party A shall repay the
Loan via other accounts on the repayment date as agreed under this Contract.

5.      Pre-repayment (early payment
or prepayment) Prepayment of the loan 

In the event that Party A decides to repay the Loan ahead of
schedule, it shall inform Party B the prepayment in writing thirty (30)
working days in advance. After Party B’s consent, Party A is authorized to repay
the partial or whole of the interest and principal ahead of schedule. 

The amount of the prepayment by Party A shall be computed based
upon the actual days of using the Loan and the interest of the Loan shall be in
accordance with the Contract. 

In the event that Party B agrees to the prepayment of the loan
by Party A, Party A is authorized to charge Party B compensation that shall be
decided in according with the 1st standard as follows:

(1) Amount of compensation = amount of the repayment
principal*number of repayment months*0.05%, less than a month will be deemed as
a month. 

(2) ____________. 

If Party A repays the Loan in installments and repays part of
the principal, it shall repay the Loan in an opposite sequence. After
prepayment, the interest on the remainder of the Loan shall be decided in accordance with the
Contract. 

 

	Exhibit 10.49 

ARTICLE 8     
RIGHTS AND OBLIGATIONS OF PARTY A 

1.      Rights of Party A 

(1) Party A is authorized to require Party B to issue the Loan
in accordance with the Contract; 
(2) Party A is authorized to use the Loan
in line with the Contract; 
(3) Party A is authorized to propose extending
the term of the Contract by meeting the requirements of Party B; 
(4) Party A
is authorized to require Party B to keep trade secrets regarding materials of
accounting information and operation provided by Party A confidential; 
(5)
Party A is authorized to prohibit any attempt at bribery by Party B and its
employees and to report any behavior by Party B that breaches the laws and
regulations relating to credit and loan interest, services charge and other
behaviors to relevant authorities. 

2.      Obligations of Party A 

(1) Withdraw deposits in line with the agreements under the
Contract, fulfill repayment of the interest and principal of the Loan as well as
the burden of any fees incurred under the Contracts; 
(2) Provide relevant
accounting information, materials of business operation and other documents as
required by Party B, including, but not limited to, the quarterly balance sheet
and income statement (income and expenditure statement for a public institution)
of last quarter within the initial fifteen (15) days of first month of
each quarter, provide the cash flow of each fiscal year as of or as at the end
of the current fiscal year, and guarantee that all the materials provided are
legal, authentic, integrated, accurate and effective. 
(3) In the event that
disadvantaged matters that will harm the debt paying ability of Party A or the
credit of Party B occur, or the name, legal representative (supervisor),
residence, business scope, registered capital, bylaws of company and other
changes relating to administration on industry and commerce, Party A shall
inform Party B within three (3) working days in written and provide materials
after such changes; 

(4) Party A shall use the Loan in line with the Contract
without the diversion or embezzling of funds, illegally engaging in business and
transactions, investing in fixed assets or equity interests via the Loan, using
the Loan in the areas of production and operation prohibited by the State, using
the Loan for exchange of the debts incurred in the course of investing in the
fixed assets and equity interests of Party A; Party A shall coordinate and
accept the examination and supervision by Party B regarding the business
operation and accounting activities, use and payment of the Loan under the
Contract, and relevant management requirements by Party B after issuing the
Loan; Party A shall not rescind funds, transfer assets or take advantage of affiliated transactions to avoid any debt; Party A shall not
use any false contracts entered into with its affiliates and credits of any
negotiation or debt receivable to obtain any discount or pledge from a bank and
extract any bank capital or credit; Party A shall repay the Loan in accordance
with the Contract and shall not avoid the entrusted payment of Party B via
breaking down into elements. 

 

	Exhibit 10.49 

(5) If Party A uses the Loan under the Contract
to engage in production, Party A shall obey relevant national regulations of
environment protections; 

(6) Party A shall not provide a guarantee to a
third party by using the assets under the Contract without obtaining the consent
from Party B prior to repaying the interest and the principal of the Loan;

(7) If Party A is a group client, Party A shall report any affiliated
transactions accounting for 10% or more of Party A’s net assets, including (i)
the relationship of each transaction party; (ii) essential transactional items;
(iii) amount of the transactions or relevant ratio; (iv) pricing policies
(including those transactions without amount or with only nominal amount);

(8) Prior to Party A’s merger, spin-off, transfer of equity interests,
investment, material increase of debt financing and other significant events,
Party A shall obtain a written consent from Party B. However, such consent of
Party B will not affect any right to remedies asserted by Party B when Party B
deems that the above events may harm the credit of Party B; 
(9) Party A
shall report the use and repayment of the Loan to Party A. Party A shall report
the use and repayment of the Loan of last month to Party B within the initial
fifteen (15) working days of each month and provide actual use of the
Loan until such Loan has been fulfilled. 

ARTICLE 9     
RIGHTS AND OBLIGATIONS OF PARTY B 

1.      Party B is authorized to
require Party A to repay the principal, interest and fees in a timely manner,
manage and control the capital flow of the Loan, actively monitor the whole fund
flow of Party A, collect the repayment ahead of schedule based upon the capital
collecting of Party A, exercise other rights under the Contract and require
Party A to perform other obligations under the Contract; 

2.      Party B is authorized to
participate in the big financing of Party A (i.e. the total amount exceeds
RMB50,000,000 or the equivalent currency), assets sale, merger, spin-off,
restructure of equity interests, bankruptcy, liquidation and other activities to
safeguard the credit of Party B. The details of the plan of participation shall
be according to 1st item: 

(1)    When Party A engages in the above
activities, it shall obtain the consent of Party B; 
(2)   
Party B shall arrange for the big financing of Party A;

(3)    The sale price of Party A’s assets and buyer shall be
in line with the following requirements: 

________________________________; 

(4)  
 Other methods that Party B deems appropriate to adopt. 

 

	Exhibit 10.49 

3.      Party B shall issue the Loan
in line with the Contracts, except for any delay or failure which can be imputed
to neither Party A or Party B; 

4.      Party B shall keep trade
secrets regarding accounting information and business operation provided by
Party A confidential except for otherwise required by laws, regulations,
competent authorities or agreed by both Parties; 

5.      Neither shall Party B attempt
to bribe Party A and its employees nor seek, accept any bribery attempted by
Party A; 

6.      Neither shall Party B perform
dishonestly or harm Party A’s legal rights. 

ARTICLE
10      BREACH OF CONTRACT

1.      Breach of Contract by Party B
and Liabilities 

(1)    In the event that Party B does not issue
the Loan in line with the Contract without legitimate reasons, Party A is
authorized to require Party B to fulfill the specific performance of issuing the
Loan according to the Contract; 
(2)    If Party B charges
unnecessary interest and fees by disobeying national laws or prohibitive
regulations, Party A is authorized to require Party B to return such expenses.

2.      Breach of Contract by Party A

(1)    Party A breaches any agreement under the
Contract or any legal obligation; 
(2)    Party A expresses or
demonstrates by its conduct that Party A will not perform any of the obligation
under the Contract; 

3.      Situations that May Harm
Credit of Party B 

(1) Party B will deem the following events potentially harmful
to the credit of Party B under the Contract: occurrence of contract, trust (take
over), lease, shareholding reform, decrease of registered capital, investment,
association, merger, acquisition, purchase and restructure, spin-off, joint
venture, substantial increase of debt financing, suspension of business,
application for dissolution, revocation, application for bankruptcy, change of
control of the actual shareholder or controller, transfer of material assets,
winding up, closing of business, stiff fines by competent authorities,
de-registration, revocation of business license, involving in significant legal
disputes, difficulties of business operation or deterioration accounting,
descending of credibility, inability to perform the normal obligations by the
legal representative or the supervisor; 

 

	Exhibit 10.49 

(2)    Party B will deem the following events
potentially harmful to the credit of Party B under the Contract: Party A fails
to fulfill other maturity debts (including the debts to the entities of the
China Construction Bank at each level and other debts to any third party),
transfer the properties at a low price or without consideration, lessen or
exempt credits of a third party, reluctantly perform other credits or rights,
provide guarantee to a third party; Party A’s financial index does not
consecutively meet the requirement addressed in the Annex 2 named “Financial
Index Binding Provision”; the fund flow of any account of Party A becomes
abnormal (including, but not limited to, the capital collecting account and
other accounts supervised by Party B); Party A materially breaches the Contract;
The profitability of Party A falls; Use of the Loan becomes abnormal;

(3)    Party A abuses the independent status of the legal
entity or the limited liability of shareholders; 
(4)    Any
pre-condition of consecutively issuing loan by Party B under the Contract does
not satisfy; 
(5)    Party B will regard the following
situations of the guarantor of the Contract as the events that may harm the
credit of Party B under the Contract: 

     (i)    
 Breach of any agreement under the guarantee agreement or the warranties
and representations have any false statement, mistake, or
omission; 
     (ii)    Occurrence of
contract, trust (take over), lease, shareholder reform, decrease of registered
capital, investment, association, merger, acquisition, purchase and restructure,
spin-off, joint venture, substantial increase of debt financing, suspension of
business, application for dissolution, revocation, application for bankruptcy,
change of control of the actual shareholder or controller, transfer of material
assets, winding up, closing of business, stiff fines by competent authorities,
de-registration, revocation of business license, involvement in significant
legal disputes, difficulties of business operation or deterioration accounting,
fall in credibility, inability to perform the normal obligations by the legal
representative or the supervisor; 
     (iii) 
Other events of losing or potentially losing of the ability to guarantee. 

(6)    Party B will regard the following
situations of the mortgage and pledge as the events that may harm the credit of
Party B under the Contract: 

     (i)     Damages,
loss and decrease of value of the property under mortgage or pledge due to the
behavior of any third party, expropriation by the State, confiscation,
condemnation, re-collection without compensation, removal, market changes or
other reasons; 
     (ii)   Properties
under mortgage or pledge are attached, detained, frozen, deducted, under liens,
auctioned, supervised by administrative authorities, or their ownerships are
under disputes; 
     (iii)   Mortgagee or
pledgor breaches any agreement under the mortgage or pledge agreement or the
warranties and representations have any false statement, mistake, or omission; 

 

	Exhibit 10.49 

    
(iv)       Other events that may harm the
realization of Party A’s credit in the mortgage or pledge. 

(7)    Failure of formation, ineffectiveness,
invalid, revocation, and cancellation of the Contract, guarantor’s breaches or
expression that he will not perform his duties, or the guarantor deems that any
event that may harm the credit under the Contract; or 

(8)    Any other events that Party B deems could
harm the credit of Party B under the Contract. 

4.      Measures of Remedies for Party
B 

In the event that the following section (2) and section (3)
occur, Party B is authorized to a right or some of the rights as stated above:

(1) Terminating the Loan; 
(2) Supplementing the conditions
regarding issuing the Loan and payment; 
(3) Altering the payment method of
the Loan; 
(4) Declaring an immediate maturity of the Loan and requiring
Party A to repay any principal, interest and fee regardless whether such Loan
has been due under the Contract; 
(5) When Party A fails to use the Loan in
accordance with the Contract, Party B is authorized to require Party A to pay a
penalty fee equivalent to 1% of the amount that is used not in line with the
Contract and to refuse any capital that has not been withdrawn by Party A under
the Contract; 
(6) In the event that Party A does not use the Loan in line
with the Contract, Party B is allowed to charge interest and compound interest
according to the penalty rate and agreements of the interest settlement under
the Contract commencing from the date when the Loan is not used as agreed in the
Contract to the date when both the principal and the interest have been repaid;

(7) When any overdue repayment occurs and Party A fails to fulfill the
repayment of the loan principal and interest (including the loan capital and
interest that have been declared as partial or whole maturity), Party B is
authorized to charge Party A the interest and the compound interest according to
the penalty rate and agreements of the interest settlement under the Contract
commencing from the date when the Loan is not used as agreed in the Contract to
the date when both the principal and the interest have been repaid. An overdue
loan means that Party A fails to repay the loan or fulfill the loan installments
in line with the Contract. Prior to the maturity of the Loan, any overdue
interest of Party A shall be collected at a compound interest in according
with the interest rate and the method of settlement under the Contract: 
(8)
Other measures of remedies, including, but not limited to: 

 

	Exhibit 10.49 

    
(i)        Party B is authorized to withdraw
RMB or other equivalent currency from the account of Party A opened in the
banking system of the China Construction Bank without informing Party A in
advance; 
     (ii)      
Exercising rights of the guarantee;
    
(iii)      Party A is required to provide new
guarantees for all the debts under the Contract; 

   
(iv)      Refusal of Party A’s disposing of relevant
deposit in the bank account of  opened in the banking system of the China
Construction Bank; 
    
(v)       Dissolution of the Contract. 

ARTICLE 11      MISCELLANEOUS

1.      Burden of Fees 

Any fee of legal services, insurance, evaluation, registration,
safeguarding, appraisal, notary, tax, technology, environment, commission of
settlement of payment relating to the Contract or its guarantee agreements shall
be burdened by Party A except for otherwise agreed. 

All the fees actually incurred in the course of realizing Party
A’s credit (including, but not limited to, litigation fees, arbitration fees,
property preservation fees, business trip expenses, execution fees, evaluation
fees, auction fees, notary fees, delivery fees, announcement fees, legal service
fees and other fees) shall be the responsibility of Party A. 

2.      Use of Party A’s Information

Party A vests rights of inquiry of the credibility of Party A
in the relevant credibility database established and approved by the Bank of
China and administrations of credit investigation or with other relevant
entities and departments in Party B, and also authorizes Party B to submit any
information of Party A to credibility databases set up and approved by the Bank
of China and administrations of credit investigation. Party A also authorizes
Party B to use and disclose Party A’s information for purpose of business in a
reasonable manner. 

3.      Announcement and Collection

Party B is authorized to report any overdue loan or other
breach of contract of Party A to the relevant department or entity, and to
collect the overdue repayments by means of announcement and through the news
media. 

4.      Evidentiary Effect of Party
B’s Record 

Unless any reliable and definite evidence exists, internal
accounting records of Party 

 

	Exhibit 10.49 

B regarding the principal, interest, fees and records of
repayment, receipts and certificates produced or reserved by Party B in the
course of providing services of any withdraw, repayment, payment of interest for
Party A, and records and certificates in the course of collecting the loan will
constitute valid evidence of the credit relationship between Party A and Party
B. Party A can not challenge such evidence by reason of Party B’s unilaterally
conducting or reserving the above records, receipts or certificates. 

5.      Reservation of Rights 

Any tolerance, extension, preference of any breach or delay of
the Contract or postponing of the performance of any right under the Contract
can neither be regarded as giving up any right or benefit under the Contract or
permission or acknowledgement of any breach of the Contract, nor limiting,
prohibiting or halting the consecutive performance of such right and other
rights or incurring that Party B’s burdening the responsibilities and
liabilities of Party A. 

6.      Except for the debts under the
Contract, in the event that Party A is also the creditor of Party B of other
debts which have expired, Party B is authorized to collect RMB or equivalent
currency in the account of Party A opened in the banking system of the China
Construction Bank. Party B shall not challenge that right of Party A. 

7.      In the event that Party A
changes its business address or notice, it shall inform Party B in writing in a
timely manner. Any damage incurred due to delayed notice shall be burdened by
Party A. 

8.      Collection of Accounts Payable

For all the accounts payable of Party A under the Contract,
Party B is authorized to withdraw RMB or other equivalent currency from the
account of Party A opened in the banking system of the China Construction Bank
without informing Party A in advance. When the foreign currency needs to go
through foreign exchange settlement or procedures of sale of foreign currency,
Party A shall coordinate such settlements and procedures. The exchange risk rate
shall be the responsibility of Party A. 

9.      Dispute Resolutions 

Any dispute occurs in the course of performing the Contract.
Such dispute could be resolved by negotiation otherwise, it will be resolved via
the 1st method as follows: 

(1) File a suit in the People’s Court where Party B resides.

(2) Submit the dispute to ______________Arbitration Commission
(the location is ____________________) in accordance with current and valid
rules implemented by the Commission. The arbitral verdict is final and binding for
both Parties. 

 

	Exhibit 10.49 

In the course of a litigation or arbitration, other sections
not involved in the dispute shall still be performed. 

10.    Pre-condition of Effectiveness 

The Contract will be effective after signed and chopped by both
the legal representative (supervisor) of Party A or its authorized power of
attorney and the legal representative (supervisor) of Party B or its authorized
power of attorney. 

11.    The Contract is in three
duplicates. 

12.    Other agreed items. 

The credit under this Contract is within the scope of the
Maximum Mortgage Agreement titled 2009 Jian Ping Song Gao Di Zi No.1

ARTICLE 12      CLARIFICATION
PROVISIONS 

1.      Party A clearly understands
the business and limited authorization of Party B. 

2.      Party A has reviewed all the
provisions under the Contract. As required by Party A, Party B has provided
relevant explanation of provisions of the Contract. Party A has fully understood
and acknowledged the meaning of the provisions under the Contract and the legal
consequence hereof. 

3.      The signing and performing of
the obligations under the Contract by Party A satisfy laws, regulations,
ordinances and articles of association or internal documents of Party A. Party A
has obtained the approval by both its internal department and/or competent State
authorities. 

4.      The production and operation
of Party A are in compliance with laws and regulations. 

5.      Party A is capable of a
consecutive operation and legal sources of repayment the Loan. 

6.      Party A covenants that the
Loan under the Contract demonstrates the real need of using the Loan and does
not exceed the actual need. 

7.      Good credibility of both Party
A and its controlling shareholder without any bad records. 

8.      Party B is authorized to
entrust other branches of the China Construction Bank to issue the Loan under the Contract, perform and fulfill the
obligations and duties under the Contract. Party A shall not object such
entrustment. 

 

	Exhibit 10.49 

9.      Party A covenants that, at the
time of making this Contract, no behavior or event of breaking any laws,
regulations and ordinances regarding environment protection, energy saving and
emission reduction and reduction of pollution, and Party A will strictly obey
relevant laws, regulations and ordinances regarding environment protection,
energy saving and emission reduction and reduction of pollution. If Party A
falsely makes the above statements, fails to perform the above covenants, or any
possibility that any occurrence of energy consumption or risk of pollution,
Party B is authorized to stop issuing the Loan, declare the maturity of the
credit ahead of schedule, or resort to other remedies as agreed under this
Contract or permitted by laws. 

 

Party A (office seal):

Legal Representative (Person-in-charge) or Authorized Proxy
(Signature): 

Date: November 26, 2010 

 

Party B (office seal): China Construction Bank Corporation
Limited Songxi Sub-branch 

Legal Representative (Person-in-charge) or Authorized Proxy
(Signature): 

Date: November 26, 2010 

 

	Exhibit 10.49 

Annex 1 

Basic Situation of the Loan 

1.      Detailed Use of the Loan under
the Contract 

Purchasing bamboo shoot and canned bamboo shoot 

Unless obtaining a written consent by Party B, Party A can not
change the detailed use of the Loan. 

2.      Source of the Repayment under
the Contract 

Business Income 

Party A shall guarantee the authenticity, legality of the
source of the repayment and flow of the repayment shall be stable and
sufficient. 

3.      Others: 

None. 

 

	Exhibit 10.49 

Annex 2 

Financial Index Binding Provisions 

Financial index of Party A shall consecutively satisfy the
following restrictions: 

The liquidity ratio is no less than 1, the quick ration is no
less than 0.5 and the asset-liability ratio is no more than 60%. 

Party B is authorized to change the above restrictions upon
informing Party A fifteen (15) days in advance.Asia Green Agriculture Corporation: Exhibit 10.50 - Filed by newsfilecorp.com

Exhibit 10.50

 

 

 

 

 

Natural Person Guarantee Contract

 

 

 

 

 

Fujian Branch of China Construction Bank

     Exhibit 10.50 

The contract is entered into by the following parties: 

Guarantor (Party A): Please see Article 10 of the contract for
details. 

Creditor (Party B): Please see Article 10 of the contract for
details. 

	Article 1 	
      SCOPE OF GUARANTEE 

	 	
       

	  	
      Please see Article 11 of the contract for details.
  

	 	
       

	Article 2 	
      METHOD OF GUARANTEE 

	 	
       

	  	
      Party A shall provide joint responsibility guaranty under
      the contract. 

	 	
       

	Article 3 	
      GUARANTEE PERIOD 

	 	
       

		
      The guarantee period is from the effective date of this
      Contract and ends two years from the expiration of the debt performance
      term under the Main Contract. In case Party A agrees to extent the debt
      performance term, the guarantee period ends two years from the expiration
      of the extended debt performance term under the Main Contract. If Party B
      announces advanced maturity of debts according to the Main Contract, the
      guarantee periods ends two years from the advanced maturity date of debts
      announced by Party B. In case the debts under the Main Contract are paid
      in by installments, the guarantee period of each installment is two years
      from the expiration date of the debt performance term of the last
      installment. 

	 	
       

	Article 4 	
      INDEPENDENCE OF THE GUARANTEE CONTRACT 

	 	
       

		
      The validity of the guarantee contract is independent
      from that of the Main Contract. The failure, invalidation, partial
      invalidation, or cancellation of the Main Contract does not affect the
      validity of the guarantee contract. If the Main Contract fails, is
      invalidated, partially invalidated, canceled or void, Party A shall be
      jointly responsible for the debtor’s debts due to return of properties or
      compensation of losses. 

	 	
       

	Article 5 	
      CHANGE OF MAIN CONTRACT

	 	I. 	
      Party A agrees to be jointly and severally responsible
      for the debts under the amended Main Contract, in the event that Party B
      and the debtor agree to amend the Main Contract provisions in writing
      (including but not limited to the repayment currency, repayment method,
      loan account No., repayment account No., expense utilization plan,
      repayment plan, value date and settlement date, startup date or expiration
      date of debts performance term if the term is not extended). However, if
      Party B and the debtor have extended the debt performance date or
      increased credit principal through agreement without Party A’s consent in
      advance, Party A shall be jointly and severally liable only for the debts
      according to the provisions of the Main Contract before the
    amendment.

	 	 	 	 
	 	II. 	
      Party A’s liability as a guarantor is not reduced or
      exempted due to any of the following conditions:

	 	 	 	 
	 		(a) 	
      Party B or the debtor has undergone change of formality,
      merging, integration, separation, capital increase/reduction, joint
      venture, joint business operation and name change;

	 	 	 	 
	 		(b) 	
      Party B has entrusted a third party to fulfill its due
      obligations under the Main Contract.

	 	 	 	 
	 	III. 	
      In case of invalidation, cancellation or voidance of any
      transfer of debts or credits under the Main Contract, Party A shall
continue to be jointly and severally responsible as a guarantor for Party B
according to this Contract. 

Exhibit 10.50 

	Article 6 	GUARANTORS’ LIABILITIES
  

	 	I. 	
      Party A shall be jointly and severally liable within the
      scope of guarantee, if the debts under the Main Contract are due or Party
      B announces advanced maturity of debts according to the Main Contract or
      laws, the debtor fails to fulfill in full amount and in a timely manner,
      or the debtor breaches other provisions of the Main Contract.

	 	 	
       

	 	II. 	
      Whether Party B has other guarantee of credits under the
      Main Contract (including but not limited to various guaranty methods such
      as guaranty, mortgage, pledge, guaranty letter and standby L/C), whether
      the guarantees are valid and established, whether Party B claims its right
      to other guarantors, whether any third party agrees to be liable for total
      or partial debts under the Main Contract, and whether other guarantees are
      provided by the debtor, Party A’s liabilities as a guarantor under this
      Contract will not be reduced or exempted. Party B can directly require
      Party A to be liable within the scope of its guarantee according to this
      Contract; and Party A can not raise any objections.

	 	 	
       

	 	III. 	
      If Party A only provides guarantee for a part of the
      debts under the Main Contract, Party A agrees that even if the debtor
      repays part of the debt, or Party B partially exercises its right under
      other guarantees, or the debt was partially paid by other means, Party A
      will be responsible within the scope of the guarantee for the unpaid
      debt.

	 	 	
       

	 	IV. 	
      If Party A only provides guarantee for part of the debts
      under the Main Contract, and if the debts under the Main Contract are not
      fully paid after Party A performs its obligation as a guarantor, Party A
      agrees not to cause any damage to Party B when it claims its subrogation
      right (including in-advance) against the debtor or other guarantors. Party
      A agrees that the right to receive repayment of debts under the Main
      Contract has priority over Party A’s subrogation right.

	 	 	
       

	 		
      Before total repayment of Party B’s
  credits:

	 	(a) 	
      Party A agrees not to claim its subrogation right against
      the debtor or other guarantors; once Party A has exercised the above right
      due to any reason, it shall use the payment from the claim to first repay
      the unpaid debt owned to Party B’s ;

	 	 	 
	 	(b) 	
      If the debts under the Main Contract have collateral,
      Party A agrees not to declare rights to the secured articles or the
      proceeds of sale of such articles for any reason including but not limited
      to subrogation rights. The secured articles or the proceeds of sale of
      such articles shall be fist used to repay the unpaid debts owed to Party
      B.

	 	 	 
	 	(c) 	
      If the debtor or other guarantor has provided a
      counter-guarantee to Party A, Party A shall use the proceeds from the
      above counter-guarantees to first repay unpaid debt owed to Party
  B.

	 	V. 	
      Party A fully understands the interest rate risks. Party
      A agrees to be jointly and severally responsible for the increased part
      due to the increase of the interest rate, the default interest or the
      compound interest, if Party B adjusts the interest rate according to the
      Main Contract, or the government adjusts the interest rate, calculation
      method or the settlement method.

	 	 	 
	 	VI. 	
      If the debtor has other loans from Party B other than the
      loans under the Main Contract, Party B has the right to receive the
  debtor’s RMB or other currency expenses in the account established in the
  system of China Construction Bank to satisfy any expired debt. Party A’s
  guaranty responsibilities are not reduced or exempted. 

Exhibit 10.50 

	Article 7 	PARTY A’S OTHER
      OBLIGATIONS 

	 	I. 	
      Party A shall supervise how the debtor uses the loans
      (including its purpose).

	 	 	 
	 	II. 	
      Party A shall provide Party B with its financial
      conditions and individual credit information, and guarantee that all
      materials provided are correct, true, complete and valid. Without written
      consent of Party B, Party A cannot provide to any Third Party with
      guarantee that is out of its capacity. .

	 	 	 
	 	III. 	
      In case of any changes to Party A’ s nationality, address
      or marital status, or if Party A has a serious health issue, receives
      administrative or criminal punishment, or is involved in a major civil
      dispute, deterioration of financial status, or loses or is likely to lose
      the capability to guarantee for any reason, Party A shall inform Party B
      immediately in writing, and perform undertaking, transferring or
      inheritance of guarantee liabilities herein as Party B requires, or
      provide a new guarantee for fulfillment of the Main Contract.

	 	 	 
	 	IV. 	
      If the company, of which Party A is in the position of
      controlling shareholder or actual controller, merges, dissolves, changes
      in entities, fluctuates the amount of capital, or is jointly-funded or
      jointly-operated, Party A shall inform Party B of such condition
      immediately.

	Article 8 	MISCELLANEOUS
  

	 	I. 	
      Allocation and charging of payable expense

	 	 	 
	 		
      As for Party A’s amount payable under the contract, Party
      B has the right to charge RMB or other currency expense from Party A’s
      account established in the China Construction Bank—it is not necessary to
      notify Party A in advance. Once it needs to handle the sales and
      purchasing of foreign exchange or exchange settlement, Party A is obliged
      to assist Party B; Party A shall bear the exchange rate risks.

	 	 	 
	 	II. 	
      Use of Party A’s information

	 	 	 
	 		
      Party A allows Party B to inquire Party A’s credit status
      from individual credit information database of People's bank of China or
      any other individual credit information database approved by credit rating
      authority or other relevant work unit, department and person. All credit
      report obtained are limited to be used on purposes stipulated in
      Provisional Rules on Management of Individual Credit Information Database
      issued by People’s bank of China. Party A allows Party B to provide its
      credit information for individual credit information database of People's
      bank of China or any other individual credit information database approved
      by credit rating authority. Party A also agrees that Party B may use and
      disclose its information reasonably for the necessary of
  business.

	 	 	 
	 	III. 	
      Collection by Public Notice

	 	 	 
	 		
      As for Party A’s breach of contract, Party B has the
      right to report to the relevant government agency and make an announcement
      through news media to collect the debt.

Exhibit 10.50 

	 	IV.	Effect as Evidence of Party B’s
record
	 		 
	 		
      Except for reliable and confirmed contrary evidence,
      Party B’s following documents constitute evidence to prove the credit
      relationship under the Main Contract: internal account record of Party B’s
      principal, interest, expense and repayment record; receipt and voucher
      during debtor’s handling withdrawal, repayment and interest payment made
      or reserved by Party B; loan collection record and voucher by Party B.
      Party A cannot object to Party B’s personal fabrication or reservation of
      the above records, receipts and vouchers.

	 	 	 
	 	V. 	
      Reservation of Right

	 	 	 
	 		
      Party B’s rights under the contract do not affect or
      eliminate any rights enjoyed according to relevant laws, stipulations and
      other contracts. Any grace, forgiving, preference or postponed exercising
      of any contract rights aimed at the breach or delay cannot be taken as the
      abandonment of rights and interests under the contract or permission or
      approval of any breach of contract; besides, they do not affect, block or
      hinder the continuous exercising of the rights or exercising of any other
      rights and do not ask Party B to bear any responsibilities and obligations
      for Party A.

	 	 	 
	 		
      Even if Party B fails to exercise or delays exercising of
      any rights under the main contract or fails to completely utilize any
      rescue operation under the main contract, Party A’s guaranty
      responsibilities under the contract can not be reduced or exempted;
      however, once Party B reduces or exempts the debts under the main
      contract, Party A’s guaranty responsibilities under the contract are
      reduced and exempted accordingly.

	 	 	 
	 	VI. 	
      Debtor’s dissolution or bankruptcy

	 	 	 
	 		
      In the event that Party A knows that the debtor has
      entered into dissolution or bankruptcy procedure, it shall immediately
      notify Party B to report the debts; at the same time, it shall participate
      in the dissolution or bankruptcy procedure in a timely manner and exercise
      the claim right in advance. If Party A knows or should have known that the
      debtor has entered into dissolution or bankruptcy procedure but fails to
      exercise the claim right in advance, Party A shall be responsible the
      incurred losses.

	 	 	 
	 		
      In spite of Article 5 (2), if Party B and debtor reach a
      reconciliation agreement in the debtor’s bankruptcy procedure or a
      restructuring plan, Party B’s rights under the contract are not affect by
      reconciliation agreement or restructuring plan; Party A’s guarantee
      responsibilities are not reduced or exempted. Party A cannot defend
      against Party B’s claim of right through the conditions stipulated in the
      reconciliation agreement and restructuring plan. As for the credits
      compromised by Party B in the reconciliation agreement and restructuring
      plan to the debtor without repayment, it still has the right to require
      Party A for continuous repayment.

	 	 	 
	 	VII. 	
      In case of any changes in Party A’s communication address
      or contact method, it shall immediately notify Party B in written form; in
      case of any losses arising from timely notification failure, Party A shall
      bear relevant losses by itself.

	 	 	 
	 	VIII. 	
      If Party A or debtor fails to strictly comply with
      relevant laws, stipulations or regulations concerning environmental
      protection, energy saving, discharge reduction and pollution reduction or
      in case of any possible energy consumption and pollution risks, Party B
      has the right to exercise the guaranty rights under this Contract in
      advance and adopt other remedial measures permitted by the contract or
      law.

Exhibit 10.50 

	 	IX. 	
      Conditions for the effectiveness of the
Contract

	 	 	 
	 		
      This Contract becomes effective upon signature or
      official seal by Party A’s legal representative (responsible person) or
      authorized agent and signature or official seal by Party B’s responsible
      person or authorized agent.

	Article 9 	PARTY A’S REPRESENTATIONS AND
      WARRANTIES 

	 	I. 	
      Party A fully understands Party B’s business scope and
      authorized power.

	 	 	 
	 	II. 	
      Party A has read all the provisions of the contract and
      main contract. In response to Party A’s requirements, Party B has
      specified relevant provisions of this contract and main contract. Party A
      has known and adequately understood the meaning of provisions in this
      contract and main contract and its legal consequence.

	 	 	 
	 	III. 	
      Party A has the legal qualification of a
  guarantor.

	 	 	 
	 	IV. 	
      Party A has confirmed it adequately knows the debtor’s
      assets, debts, business, credits and reputation, whether it has the main
      qualification and power of signing the main contract as well as all the
      contents of main contract.

Exhibit 10.50 

Particular Signing Provisions 

No. of this personal guarantee contract is 2010 Jian Ping Song
Dai Zi Bao Zi No.4-4 

	Article 10 	INFORMATION OF CONTRACTORS
    

Guarantor (Party A): Zhan Youdai, Zhou Liufeng 
Certificate
Name and No: ID number: 352128196909072016, 352128197111071529 
Address: No
6-1, Shui Nan Gong Ye Road, Songxi County 
Post Code: 353500 
Tel: 2325600

Creditor: China Construction Bank Co., Ltd Songxi Branch

Address: No 121 Jiefang Street, Songyuan Town, Songxi County 
Post Code:
353500 
Principal: Ou Wenbin 
Fax: 0599-2322644 
Tel: 0599-2322670 

To ensure the performance of the Bank’s Acceptance
Agreement (hereinafter referred to as the Main Contract, No.:
(2010) Jian Ping Song Dai CZ Zi No. 04) entered into by and between
Fujian Yada Group Co., Ltd (hereinafter referred to as Debtor) and Party
B, Party A agrees to assume the jointly guarantee liability for the debt under
this contract. The Parties hereby agree to enter into this contract based on the
mutual consent of consultation and comply with the terms hereof. 

	Article 11 	AGREEMENTS TO ARTICLE
  
	 	 
	  	The contract guaranty scope
      includes the following Type II: 

	 	I. 	
      All the debts under the main contract include (but not
      limited to) total principal, interest (including compound interest and
      penalty interest), breach penalty, compensation, other expense paid by
      debtor to Party B (including but not limited to relevant handling fee,
      telecom expense, sundry expense and relevant bank expense rejected by
      foreign beneficiary), Party B’s expense in realizing credits and guaranty
      rights (including but not limited to lawsuit expense, arbitration expense,
      property safeguard expense, travel expense, implementation expense,
      evaluation expense, auction expense, notarization expense, transportation
      expense, announcement expense and lawyer’s expense).

	 	 	 
	 	II. 	
      The principal under the main contract (currency: RMB) (In
      Words: RMB Six million five hundred thousand yuan) and interest
      (including compound interest and penalty interest), breach penalty,
      compensation, other expense paid by debtor to Party B (including but not
      limited to relevant handling fee, telecom expense, sundry expense and
      relevant bank expense rejected by foreign beneficiary), Party B’s expense
      in realizing credits and guaranty rights (including but not limited to
      lawsuit expense, arbitration expense, property safeguard expense, travel
      expense, implementation expense, evaluation expense, auction expense,
      notarization expense, transportation expense, announcement expense and
      lawyer’s expense).

Exhibit 10.50 

	Article 12 	DISPUTE SETTLEMENT 
	 	 
		
      Any and all disputes arising in the performance of the
      Contract shall be settled through negotiation. In case that no settlement
      can be reached through negotiation, the disputes shall be settled by the
      first method as follows. 

	 	(1) 	
      Instituting legal proceedings in the People’s Court of
      competent jurisdiction at Party B’s domicile.

	 	 	 
	 	(2) 	
      Submitting to (left blank) Arbitration Commission (place
      of arbitration: (left blank) for arbitration in accordance with the
      arbitration rules of the Arbitration Commission in force at the time of
      application. The arbitration award shall be final, and binding upon both
      parties.

	 	 	 
	 		
      During the process of litigation or arbitration, the
      Parties shall continue to implement this contract, except for the matters
      in dispute.

	Article 13 	THIS CONTRACT SHALL BE
      PREPARED IN DUPLICATE 
	 	 
	Article 14 	OTHER AGREED ITEMS 
	 	 
	  	This filed is left blank.
  

Exhibit 10.50 

 

Party A (Official seal): 

  Legal representative (responsible person) or authorized agent (Signature): Zhan
  Youdai, Zhou Liufeng (Signature) 

  Date: November 26, 2010 

 

Party B (Official seal): China Construction Bank Co., Ltd.
Songxi Branch (Seal affixed) 
Responsible person or authorized agent
(Signature): Ou Wenbin (Signature) 
Date: November 26, 2010

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