Document:

English Translation of Guarantee Contract

 Exhibit 4.63 
 English Translation 
 BANK OF SHANGHAI 
 GUARANTEE CONTRACT FOR LOANS 
 Contract No.: B530208001101 
  

									
	Guarantor: China Electrical Equipment Group Co., Ltd.	 		 	Tel:	 	  

				
	Registered Address: No. 88, Shengtai Road, Jiangning Economy & Technology Development Area, Nanjing	 		 	Zip Code:	 	211100
					
	Principal Business Office:	 	  
	 		 	Zip Code:	 	  

				
	Legal Representative (Principal): Lu Tingxiu	 		 	Fax:	 	  

					
	Authorized Representative:	 	  
	 		 	Fax:	 	  

	
	 Banker of Basic Account: Industrial and Commercial Bank of China, Jiangning Economic Development Area Sub-branch
  
 A/C No.: 4301021119100105444

							
				
	E-mail:	 	  
	 	Website:	 	  

  

							
	Creditor:	  	Bank of Shanghai, Nanjing Branch	  	                    Tel:        86896810	  	 Fax: 86896810

							
			
	Principal Office:	  	Peace Mansion, No. 22, Beijing Road (East), Nanjing	  	Zip Code: 210008

									
					
	Legal Representative (Principal):	 	Xu Jianhua	 		 	Fax:	 	  

					
	Authorized Representative):	 	  
	 		 	Fax:	 	  

													
							
	E-mail:	 	  
	 		 		 		 	Website:	 	  

  

 1 

 This Contract is entered into by and among the Creditor, the Guarantor and Co-guarantors through friendly negotiation and
in accordance with the Guaranty Law of the People’s Republic of China and other applicable laws, regulations and rules, with the following terms and conditions: 
 (Notes: For the purpose of this Contract, “ ̈” represents for the contents of option; “þ” represents for the selected option;
and “x” represents for the rejected option.) 
 ARTICLE 1 PRINCIPAL CREDITOR’S RIGHT 
 The principal creditor’s right to be secured hereunder is a loan of RMB Thirty Million Yuan Only under the Loan Contract (No. 5302080011) signed by the
Bank of Shanghai Nanjing Branch (“Lender”) and CEEG (Nanjing) PV-Tech Co., Ltd. (“Borrower”). 
 ARTICLE 2
TERM FOR PERFORMANCE OF OBLIGATION BY THE BORROWER 
 The term of the debt owed by the Borrower is from February 2, 2008 to August 1, 2008. In
case of any inconsistence between the debt term mentioned herein and the debt term indicated on the loan note, the debt term indicated on the loan note shall prevail. 
 ARTICLE 3 TERM OF GUARANTEE 
 3.1 The term of guarantee provided by the Guarantor hereunder shall be two
(2) years commencing from the due date of the debt owned by the Borrower as mentioned in Article 2 hereof. Where the principal debt under the Loan Contract as mentioned in Article 2 hereof is to be repaid in several parts (such as installments)
and the due date of each part of such debt is different, the term of guarantee provided by the Guarantor hereunder shall be two (2) years commencing from the due date of the last installment of the debt (as indicated on the loan note).

 3.2 Where the Borrower breaches the Loan Contract and the Lender announces an earlier due date of the Loan, the Guarantor shall perform his obligations of
guarantee hereunder in advance accordingly. 
 ARTICLE 4 SCOPE OF GUARANTEE 
 þ The scope of guarantee hereunder shall include all aspects of the creditor’s right under the Loan Contract as mentioned in Article 1 hereof, including the principal of loan,
interest, penalty interest, liquidated damages, indemnity, costs of enforcing the creditor’s right. 
  ̈ The scope of
guarantee hereunder shall be
                                        
                    . 
  

 2 

 ARTICLE 5 FORM OF GUARANTEE 
 The guarantee provided hereunder is a guarantee with joint and several. 
 ARTICLE 6 NOTARIZATION 
 If the Creditor considers it is necessary, the Guarantor shall go through the formalities for notarization of this Contract together with the Creditor, and the cost of
notarization shall be borne by the Guarantor. 
 ARTICLE 7 WARRANTIES AND UNDERTAKINGS 
 7.1 The Guarantor hereby warrants that: 
 7.1.1 The Guarantor is a corporationþ, public
service unit ̈, other unit ̈, lawfully incorporated and registered with the administration for industry and commerceþ, competent authority ̈ and duly existing under the laws of China, and has passed the annual inspection according to the laws, and has the full qualification and competence to execute and perform this Contract; 
 7.1.2 The Guarantor possesses a valid loan certificate issued by the People’s Bank of China, Shanghai Branch, and the said loan certificate has passed the annual
inspection; 
 7.1.3 Execution and performance of this Contract are fully in compliance with its articles of association and will not conflict with any other
existing contract; 
 7.1.4 The Guarantor has fully understood all contents of the Loan Contract as mentioned in Article 1 hereof, and is willing to provide
the guarantee of joint and several liabilities to the Lender for the benefits of the Borrower; 
 7.1.5 All financial and accounting reports provided
hereunder, including the balance sheet, statement of income and loss, statement of cash flow, as well as all notes to such statements and the financial status statement, are in compliance with the accounting laws of China and the uniform accounting
system of China, and true, lawful, complete and valid, and there is no materially adverse change to its financial and credit status since the Borrower applies for the loan; and 
 7.1.6 It has not concealed any pending mediation, arbitration, action, claim, enforcement or any other violating or illegal event possibly impairs the rights and interests of the Lender. 
 7.2 The Guarantor hereby undertakes that: 
 7.2.1 The monthly financial and accounting report shall be submitted on or before the 15th day of the following
month. The annual financial and accounting report shall be audited by a qualified accountant firm and an audit report shall be issued therefor, and the annual financial and accounting report shall be submitted before the end of March in the
following year, in case of a non-public listing company, or before the end of April in the following year, in case of a 

  

 3 

 
public company. In the event of increasing capital and issuance of new shares or distribution of dividends by the public company, an audited semi-annual
financial and accounting report shall be submitted before the end of August according to the applicable provisions. All financial and accounting reports must be executed and sealed by the legal representative, as well as the corporate seal of the
Guarantor affixed; 
 7.2.2 The Guarantor will provide the name of banks and the account number; 
 7.2.3 The Guarantor will accept and cooperate with the Creditor in the review on its qualification of guarantee, scope of authorities, credit status and ability of
repayment; 
 7.2.4 Upon occurrence of any event which may impair the qualification of guarantee, scope of authorities or ability, the Guarantor shall
immediately send a written notice to the Creditor and take effective remedies; 
 7.2.5 Where the Borrower commits any act which may impair the rights and
interests of the Creditor, the Guarantor shall immediately send a written notice to the Creditor; 
 7.2.6 If the Guarantor intends to provide any security
which may affect its performance of obligations under this Contract during the term of this Contract, it shall obtain the written consent from the Creditor in advance; 
 7.2.7 Upon occurrence of any material event, such as merger, acquisition, consolidation, association, cooperation, joint venture, division, contracting, lease, external investment, restructuring, assignment of assets,
close-down, stoppage of business, dissolution, bankrupt, the Guarantor shall send a written notice to the Creditor at least thirty days in advance and provide an alternative repayment plan which is accepted by the Creditor; 
 7.2.8 In the event of any change to the company name, corporate seal, articles of association, location, mailing address, telephone number, zip code, banker and account
number, principal business office, legal representative (or principal), authorized representative, registered capital, corporation category, business scope or operation term, it shall send a written notice to the Creditor no later than the date
following the date of such change, together with the relevant materials; and 
 7.2.9 Where the Borrower fails to use the loan for the purpose as specified
in the Loan Contract, the Guarantor shall still be subject to the liabilities of guarantee hereunder. 
 ARTICLE 8 DEDUCTION 
 When the debt is due or the Creditor announces an earlier due date in case of default by the Borrower, the Creditor may claim the repayment of the debt against the
Guarantor according to the law and directly deduct the amount from the account opened by the Guarantor with Bank of Shanghai (including all branches and sub-branches), and the Guarantor shall unconditionally waive all defenses therefor. 

 

 4 

 ARTICLE 9 NO WAIVER 
 Unless it is waived in written forms, failure or delay in exercise of all or part of rights, or release or extension of any condition or procedure of the guarantee by the Creditor shall not be deemed as waiver of such rights. 
 ARTICLE 10 SUBROGATION 
 Before the debt under the Loan Contract is
fully discharged by the Borrower, the Guarantor may not exercise its recourse against the Borrower, even if the Guarantor has discharged part of the debt for the benefits of the Borrower. 
 ARTICLE 11 EFFECTIVENESS 
 11.1 This Contract shall become effective
upon the date when the Contract is executed or sealed by the legal representative (or principal) or authorized representative of both parties, with the official seal (including contract seal or special contract seal) affixed. 
 11.2 This Contract shall remain effective upon occurrence of any of the following circumstances: 
 11.2.1 The invalidity or partly invalidity of the Loan Contract as mentioned in Article 1 hereof will not affect the validity of this Contract. The Guarantor shall be liable for the civil liabilities of the Borrower
due to invalidity or partly invalidity of the Loan Contract. 
 11.2.2 The debt secured by the guarantee hereunder is fully discharged, but the discharge is
held as invalid according to the applicable laws and regulations. 
 ARTICLE 12 AMENDMENT AND TERMINATION 
 12.1 Any amendment or supplementation to this Contract or any part hereof shall be shall be mutually negotiated by both parties and be set forth in the written
agreements. 
 12.2 During the term of this Contract, the Creditor may assign all or part of creditor’s rights under the Loan Contract to any third
party according to the law, and notify the Guarantor of such event. After the assignment of the creditor’s rights, the Guarantor shall still be liable to the guarantee with joint and several liabilities within the scope of guarantee specified
herein. 
 ARTICLE 13 DISPUTE SETTLEMENT 
 13.1 Any
dispute arising from the performance of this Contract may be settled through friendly negotiations between both parties hereto; or either party hereto may file an action with a competent people’s court where the Creditor is located. During the
course of dispute, the parties concerned shall continue to perform the terms that are not involved in the dispute. 
  

 5 

 13.2 Where this Contract is compulsorily notarized, the Creditor may directly enforce its creditor’s right against
the Guarantor according to the laws when the loan is due or the Creditor announces an earlier due date of the loan due to breach of the Borrower. 
 ARTICLE 14 SUPPLEMENTARY ARTICLES 
  

			
	  
	 	
	  
	 	
	  
	 	.

 ARTICLE 15 REMINDER 
 The Creditor has asked the Guarantor to pay attention to the terms and conditions of this Contract regarding the release of or restriction on the obligations and liabilities of the Creditor. 
 ARTICLE 16 NOTICE 
 16.1 All notices between both parties shall be in
written forms and sent to the address of principal business office or actual residential place of both parties as mention first above. 
 16.2 A notice shall
be deemed as duly delivered on the following date, if it is duly sent to the address mentioned above: the date indicated in the postmark, if it is sent by registered mail; or the date of receipt, if it is sent by personal delivery. 
 ARTICLE 17 ISSUES NOT COVERED HEREUNDER 
 Any issue not covered
hereunder shall be subject to the applicable laws, regulations, rules and relevant stipulations of the People’s Republic of China. 
 ARTICLE 18
COUNTERPARTS 
 This Contract shall be made and executed in three (3) originals, one for the Creditor, one for the Guarantor and
             for the notarization office or any other institution. The number of counterparts is to be determined in light of the demand. 
 Creditor: (Seal) Bank of Shanghai, Nanjing Branch 
 Legal
Representative (or Principal) or Authorized Representative: /s/ Xu Jianhua 
  

 6 

 Date: February 2, 2008 
 Signed at: Nanjing 
 Guarantor: China Electrical Equipment Group Co., Ltd.(Seal) 
 Legal Representative (or Principal) or Authorized Representative: Tingxiu Lu (Seal) 
 Date: February 2, 2008 
 Signed at: Nanjing 
  

 7English Translation of Credit Granting Contract

 Exhibit 4.64 
 English Translation 
 No. 2008 Nian Shou Zi No.210101523 
 China Merchants Bank 
 Credit
Granting Agreement 
 China Merchants Bank Nanjing Branch 
  

 1 

 Credit Granting Agreement 
 No. 2008 Nian Shou Zi No.210101523 
 Credit Grantor: China Merchants Bank Co., Ltd. Nanjing
Branch (hereinafter referred to as “Party A”) 
 Legal representative/main responsible person: Gu Quan 
 Credit Granting Applicant: CEEG (Nanjing) PV-tech Co., Ltd. (hereinafter referred to as “Party B”) 
 Legal representative: Lu Tingxiu 
 Upon Party B’s application, Party A
agrees to provide credit line to Party B for its use. In accordance with relevant laws and regulations, Party A and Party B, through adequate negotiations, hereby enter into this Agreement, on and subject to the terms and conditions as set forth
below. 
 Article 1 Credit Line 
 1.1 Party A will provide a
credit line of RMB 120 million (including the amounts in other currencies, subject to the foreign exchange rates as published by Party A when businesses take place, as below) to Party B. 
 Credit line means the highest limit of the aggregate of the outstanding balances of the loans, trade financings, bill discounts, commercial bill acceptances, bank
guarantees, overdrafts of legal person account, domestic factoring,             ,              and other credit
grants that can be used continuously and cyclically and which are provided by Party A for Party B according to the “Credit Granting Agreement” within the credit granting period. 
 “Trade financing” includes L/C issue, import bill advance, letter of guarantee for the release of goods, import collection bill advance, package loan, export
bill purchase, export collection bill purchase, import/export remittance financing, short-term credit insurance financing, export factoring with recourse,             ,
             and other business types. 
 1.2 Where Party B applies to Party A for the
domestic factoring without recourse, Party A’s claims for the accounts receivable (transferred to Party A) of Party B in this business uses the credit line hereof; where Party B applies to Party A for the domestic factoring with recourse or
export factoring with recourse, the leveraged buyout funds provided by Party A to Party B in this business uses the credit line hereof. 
 1.3 The above
credit line does not include the corresponding credit granting portion of the guaranty fund or guaranty of pledge by certificate of deposit provided by Party B or any third party with respect to the specific business under this Agreement (as below).

  ̈ 1.4 Outstanding balances, if any, of the specific businesses under the original credit granting agreement (No.: 2007
Nian Shou Zi No.210808723) signed by Party A and 

  

 2 

 
Party B as from the effective date of this Agreement are automatically covered by this Agreement and directly use the credit line under this Agreement (if
this provision is not applicable, please mark “×“ in  ̈). 
 Article 2 Credit Granting Period 

Credit granting period is 6 months, i.e. from January 17, 2008 to July 15, 2008. Party B shall make line use applications to Party A within this period and
Party A does not accept the line use applications made by Party B after the expiry date of credit granting period hereof, unless otherwise provided for herein. 
 Article 3 Use of Credit Line 
 3.1 Type and scope of line 
 The above credit line is (please mark “Ö“ in either of the following two options): 
 (    ) 3.1.1 Comprehensive credit line: the business types and amounts about use of credit line as agreed upon by both parties are as follows: 
 3.1.1.1
                                        
                            ; 
 3.1.1.2
                                        
                            ; 
 3.1.1.3
                                        
                            ; 
 3.1.1.4
                                        
                            ; 
 Besides, Party B              (“can” or “cannot”) use the line hereof on a regulation basis. 
 (    ) 3.1.2 Single credit line for working capital loan. 
 3.2 Within credit granting period, Party B can cyclically use credit line, but subject to one by one application by Party B and to one by one examination and approval by Party A. The amount, term, purpose, etc of each
loan or other credit grant can be specified in the specific business contract (including IOU)or agreement to be signed by both parties or the relevant business application submitted by Party B to Party A and accepted by Party A. 
 The foregoing specific business contracts, agreements or relevant business applications are collectively referred to as “Individual Contracts”. Under the
domestic factoring without recourse, the “Notice of Transfer of Accounts Receivable Claim” issued by Party A to Party B is deemed as the “Individual Contract” between both parties after Party B signs for confirmation. 

3.3 The use term of each loan or other credit grant within the credit line shall be determined according to Party B’s business needs and Party A’s business
management regulations. The expiry date of each specific business may be later than the expiry date of credit granting period. 
 Article 4 Interest and
Expenses 
 The loans within credit line, financing interest rate and expenses relating to relevant businesses are subject to the provisions of the Individual
Contracts. 
  

 3 

 Article 5 Guaranty Clauses 
 5.1 As for all the debts owed by Party B to Party A under this Agreement, standby L/C issued by the Offshore Department of the Head Office acts as the joint responsibility guarantor and shall issue to Party A an irrevocable letter of
maximum amount guarantee; and/or 
 5.2 As for all the debts owed by Party B to Party A under this Agreement,
                 uses all its or lawfully disposable          properties as mortgage (pledge). A guarantee contract
is to be signed by both parties. 
 Article 6 Party B’s Rights and Obligations 
 6.1 Party B’s rights 
 6.1.1 Request Party A to provide the loans or other credit grants within the credit line based on
the conditions as set forth herein; 
 6.1.2 Use credit line according to the provisions of this Agreement; 
 6.1.3 Request Party A to keep confidential the information on production, operation, properties, account, etc provided by Party B, unless otherwise stipulated by laws;

 6.1.4 Transfer debts to any third person with Party A’s consent. 
 6.2 Party B’s obligations 
 6.2.1 Provide the documents required by Party A (including, but not limited to, provide its
true financial statements and annual financial report as well as significant decisions and changes relating to production, operation and management according to the period required by Party A) and the information on all account opening banks,
account numbers and deposit/loan balances, and assist in Party A’s investigation, examination and check; 
 6.2.2 Accept the supervision by Party A of
its use of credit funds and its production, operation and financial activities; 
 6.2.3 Use loans and/or other credit grants based on the provisions of this
Agreement and the Individual Contracts and/or committed purpose; 
 6.2.4 Repay and pay the debt principals and interest of the loans, advances and other
credit grants on time and in full according to the provisions of this Agreement and the Individual Contracts; 
 6.2.5 Obtain Party A’s written consent
if all or part of the debts under this Agreement are transferred to any third person; 
 6.2.6 Should any of the following situations occur with Party B,
Party B shall forthwith report to Party A and actively assist Party A in taking the measures for the safe payment of the debt principals and interest of the loans, advances and other credit grants under this Agreement as well as any and all relevant
expenses: 
 6.2.6.1 Party B suffers from significant financial losses, asset losses or other financial crisis; 
  

 4 

 6.2.6.2 Party B provides loan or suretyship guaranty or provides guaranty of mortgage or pledge through its proprietary
properties (rights) for the benefit of any third party or so as to protect any third party from losses; 
 6.2.6.3 Party B is involved in merger
(annexation), division, reorganization, equity (contractual) joint venture, property right (equity) transfer, joint-stock restructuring, etc; 
 6.2.6.4
Party B is wound up or dissolved or files an application for bankruptcy or an application for bankruptcy is filed against it or its business license is cancelled; 
 6.2.6.5 Party’s controlling shareholder and other affiliates suffer from serious operational or financial crisis, thus affecting Party B’s normal operation; 
 6.2.6.6 The key related-party transactions with its controlling shareholder and other affiliates affect Party B’s normal operation; 
 6.2.6.7 Party B is involved in any lawsuit, arbitration or criminal or administrative punishment that has a significantly adverse influence on Party B’s operational or property situation; 
 6.2.6.8 Other significant matters that may affect Party B’s debt-repaying ability. 
 Article 7 Party A’s Rights and Obligations 
 7.1 Party A’s rights 
 7.1.1 Request Party B to pay the debt principals and interest of the loans, advances and other credit grants under this Agreement and the Individual Contracts on time;

 7.1.2 Request Party B to provide the materials relating to the use of credit line; 
 7.1.3 Know Party B’s production, operation and financial activities; 
 7.1.4 Supervise Party B to use the loans and/or
other credit grants according to the purpose as set forth in this Agreement and the Individual Contracts; 
 7.1.5 Directly make deductions from Party
B’s account to cover the outstanding debts of Party B under this Agreement and the Individual Contracts; 
 7.1.6 Other rights as specified in this
Agreement. 
 7.2 Party A’s obligations 
 7.2.1 Extend loans
or provide other credit grants to Party B within the credit line according to the conditions of this Agreement and the Individual Contracts; 
 7.2.2 Keep
confidential the information on Party B’s properties, finance, production and operation, unless otherwise stipulated by laws and regulations or otherwise required by regulatory body. 
 Article 8 Party B hereby warrants that: 
 8.1 Party B is an entity with the
status of legal person, which is incorporated in accordance with and validly exists under Chinese laws and has the full civil capacity to sign and perform this Agreement; 
  

 5 

 8.2 Party B has obtained the full authority from the board of directors or any other authorizing institution to sign and
perform this Agreement; 
 8.3 The documents, materials and vouchers about Party B, guarantor, mortgagor (pledgor) and mortgaged (pledged) property provided
by Party B are true, accurate, complete and valid and do not contain the significant errors or omissions not complying with the facts; 
 8.4 Party B will
fully comply with the Individual Contracts, letter of commitment about L/C issue signed and provided to Party A by Party B, trust receipt and other relevant documents. 
 8.5 When this Agreement is signed, there are no lawsuits, arbitrations or criminal or administrative punishments as may have a significantly adverse influence on Party B or Party B’s substantial properties and it
is predicted that the lawsuits, arbitrations or criminal or administrative punishments of such kind will not occur during the performance of this Agreement. Otherwise, Party B shall forthwith inform Party A; 
 8.6 Party B will be engaged in business activities in full accordance with state laws and regulations as well as its business scope as set out in its business license or
lawfully approved business scope and handle annual inspection procedures of registration on time; 
 8.7 Party B will maintain or increase the existing
operation and management level, ensure the maintenance and appreciation of value of existing assets, not give up any due claims and not dispose of exiting substantial properties without compensation or in other inappropriate means; 
 8.8 Party B will not liquidate other long-term debts in advance without Party A’s permission; 
 8.9 When this Agreement is signed, Party B has no other significant events that may affect Party B’s performance of its obligations under this Agreement. 
 Article 9 Other Expenses 
 The credit investigation, check and notarization
expenses relating to this Agreement as well as the lawyer’s expenses, litigation expenses, traveling expenses, announcement expenses, fee of service and all other expenses paid by Party A to realize claims when Party B fails to pay its
outstanding debts under this Agreement on time shall be borne by Party B. Party B authorizes Party A to directly deduct them from its bank account opened at Party A. In case of any shortfall, Party B shall pay it upon receipt of Party A’s
notice, without needing Party A to provide any certificate. 
 Article 10 Defaults and Handling 
 10.1 Any of the following situations that occur with Party B is deemed to constitute a default: 
 10.1.1 In violation of the
provisions of Article 6.2.1 hereof, Party B provides false information to Party A, conceals important facts or does not assist in Party A’s investigation, examination and check, which may damage Party A’s interests; 
  

 6 

 10.1.2 In violation of the provisions of Article 6.2.2 hereof, Party B does not accept or evades the supervision of its
use of credit funds and its relevant production, operation and financial activities by Party A, which may damage Party A’s interests; 
 10.1.3 In
violation of the provisions of Article 6.2.3 hereof, Party B fails to use the loans and/or other credit grants according to the purpose as specified in this Agreement and the Individual Contracts, which may damage Party A’s interests;

 10.1.4 In violation of the provisions of Article 6.2.4 hereof, Party B fails to pay the debt principals and interest of the loans, advances and other
credit grants on time and in full according to the provisions of this Agreement and/or the Individual Contracts; 
 10.1.5 In violation of the provisions of
Article 6.2.5 hereof, Party B transfers the debts under this Agreement to any third person, which may damage Party A’s interests; 
 10.1.6 Party B
violates the provisions of Article 6.2.6 hereof. When the situation as specified in this provision occurs, Party B fails to timely inform Party A or does not cooperate when Party A knows such situation and requests Party B to take further guarantee
measures for the repayment of the debts under this Agreement or Party A is of the opinion that the situation is detrimental to the safe recovery of granted principals and interest; 
 10.1.7 Party B violates the provisions of Articles 8.1, 8.2 and 8.5 hereof, which may damage Party A’s interests, or violates the provisions of 8.3, 8.4, 8.6, 8.7 and 8.8, but fails to make corrections
immediately according to Party A’s requirement, which may damage Party A’s interests; 
 10.1.8 Other situations which, in Party A’s opinion,
will damage its lawful rights and interests. 
 10.2 Any of the following situations that occur with the guarantor shall be deemed to constitute a default
when Party A is of the opinion that the situation may affect guarantor’s guarantee ability and requests the guarantor to remove the adverse impact thus incurred or requests Party B to increase or change guarantee conditions, but the guarantor
and Party B do not cooperate: 
 10.2.1 The situation similar to any of the situations as set forth in Article 6.2.6 hereof occurs; 
 10.2.2 When the guarantor issues the irrevocable letter of guarantee, it conceals its ability of assuming guaranty responsibility, or fails to obtain the authorization
from authorizing organ; 
 10.2.3 The guarantor fails to handle the annual inspection procedures of registration on time; 
  

 7 

 10.2.4 The guarantor is sluggish in managing and collecting its due claims or disposes of existing substantial properties
without compensation or in other inappropriate means. 
 10.3 Any of the following situations that occur with the mortgagor or pledgor shall be deemed to
constitute a default when Party A is of the opinion that the situation may invalidate mortgage or pledge or devaluate mortgaged or pledged properties and requests the mortgagor or pledgor to remove the adverse impact thus incurred or requests Party
B to increase or change guarantee conditions, but the mortgagor or pledgor and Party B do not cooperate: 
 10.3.1 Mortgagor has no ownership or right of
disposal over the mortgaged or pledged properties or an ownership dispute about mortgaged or pledged properties exists; 
 10.3.2 Mortgaged or pledged
properties have been leased out, sequestrated or put under supervision or statutory priority exists (including, but not limited to, priority of construction project payment), and/or Party B conceals their existence; 
 10.3.3 Without Party A’s written consent, mortgagor transfers, leases out, re-mortgages or otherwise disposes of mortgaged property, or Party A gives its written
consent, but the proceeds from disposal of mortgaged property are not used to pay the debts owed by Party B to Party A according to Party A’s requirement; 
 10.3.4 Mortgagor does not appropriately manage, maintain and repair mortgaged property, thus causing mortgaged property to be considerably devaluated; or mortgagor’s behavior directly jeopardizes mortgaged property, thus causing
mortgaged property to be considerably devaluated; or within the term of mortgage, mortgagor fails to insure mortgaged property according to Party A’s requirements. 
 10.4 Should any of the defaults as specified in Articles 10.1, 10.2 and 10.3 occur, Party A is entitled to take one or several measures below and Party B has no objection thereto: 
 10.4.1 Cut down the credit line under this Agreement or stop granting the loans still not used by Party B within the credit line and also stop providing the other credit
lines still not used by Party B within the credit line; 
 10.4.2 Recall the loan principals already granted within credit line in advance, along with
interest and relevant expenses; 
 10.4.3 As for the bills accepted or the letters of credit, bank guarantees, letters of guarantee for release of goods, etc
issued by Party A within credit granting period, no matter whether Party A has made advances, Party A is entitled to request Party B to increase the amount of guaranty fund or transfer the deposits of the other account opened by Party B at Party A
into Party B’s guaranty fund account as the guaranty fund for paying Party A’s advances under this Agreement in future, or put the corresponding funds in escrow so that Party A makes advances for Party B in future; 
 10.4.4 As for the accounts receivable claim transferred from Party B to Party A under the factoring business with recourse, Party A is entitled to give the “Notice
of Buyback of Accounts Receivable”, requesting Party B to immediately perform the buyback 

  

 8 

 
obligation; as for the accounts receivable claim transferred from Party B to Party A under the domestic factoring business without recourse, Party A is
entitled to forthwith exercise recourse against Party B; 
 10.4.5 Directly make deductions from Party B’s settlement account and/or other account so as
to cover all Party B’s debts under this Agreement and the Individual Contracts; 
 10.4.6 Exercise recourse as per Article 13 below. 
 Article 11 Change and Termination 
 This Agreement can be changed or
terminated if Party A and Party B reach a written agreement through negotiations. This Agreement shall remain valid before this written agreement is reached. Neither party shall change, modify or terminate this Agreement unilaterally. 
 Article 12 Miscellaneous 
 12.1 No toleration or extension by Party A with
respect to any default or delay of Party B or no delay on the part of Party A in exercising the interests or rights under this Agreement within the valid term of this Agreement shall damage, affect or limit any and all interests and rights of Party
A as the creditor as specified by relevant laws, regulations and this Agreement or operate as Party A’s permission of any default of this Agreement or as a waiver of the right concerning any default, whether now or in future. 
 12.2 Should this Agreement or any provision thereof be held illegal or invalid for whatever reason, Party B shall be liable for all its debts due to Party A under this
Agreement. In this case, Party A is entitled to terminate this Agreement and forthwith dun for all debts owed by Party B under this Agreement from Party B. 
 12.3 All notices or requests required to be made under this Agreement between Party A and Party B shall be in writing and delivered to the following addresses. Any notice shall be deemed to be served on the other party: if by telex or
telegram, when sent; if by mail, when delivered to post office: 
 Party A’s correspondence address: 
 Party B’s correspondence address: 
 If either party changes its
correspondence address, it shall notify the other party in time, otherwise it shall bear the losses as may be thus incurred. 
 12.4 It is agreed by both
parties that as for the business applications under trade financing business, Party B can affix reserved seal impression according to the “Power of Attorney of Reserved Seal Impression” provided to Party A and both parties acknowledge the
effect of this seal. 
 12.5 The written supplementary agreements reached by Party A and Party B through negotiations with respect to anything not covered
herein or changes as well as the Individual Contracts under this Agreement are annexed to this Agreement and form an integral part of this Agreement. 
  

 9 

 Article 13 Applicable Law and Settlement of Disputes 
 13.1 The formation and interpretation of this Agreement, along with settlement of disputes, shall be governed by the laws of the People’s Republic of China. The rights and interests of both parties shall be
protected by the laws of the People’s Republic of China. 
 13.2 Any dispute arising from or out of the performance of this Agreement shall be settled
by both parties through negotiations. In case no settlement can be reached, either party may (tick one option): 
 (    ) 13.2.1 Bring a
lawsuit with the people’s court in the place where Party A is domiciled; 
 (    ) 13.2.2 Submit the dispute to
         arbitration commission for arbitration; 
 (    ) 13.2.3 Refer the dispute to (if
this provision is chosen, tick one option below): 
 (    ) China International Economic and Trade Arbitration Commission

 (    ) China International Economic and Trade Arbitration Commission
         Sub-commission 
 for arbitration in accordance with the arbitration rules concerning
financial dispute. 
 13.3 After this Agreement and the Individual Contracts are notarized with the effect of enforcement, Party A can directly apply to the
people’s court of competent jurisdiction for enforcement when it makes recourse to the debts owed by Party B under this Agreement and the Individual Contracts. 
 Article 14 Effectiveness 
 This Agreement shall become effective after it is signed or sealed by the duly authorized
signatories of both parties and affixed with their respective common seals until the expiry date of the credit granting period or the date when all debts and other relevant expenses owed by Party B to Party A under this Agreement are paid up
(whichever is later). 
 Article 15 This Agreement is executed in triplicate, with each of Party A, Party B
         and          holding one (1) copy. All three copies shall have the same legal effect. 
 Party A (seal): China Merchants Bank Co., Ltd. Nanjing Branch (Seal) 
 Authorized signatory (signature or seal): Gu Quan (Seal) 
 Party B (seal): CEEG (Nanjing) PV-tech Co., Ltd. (Seal) 
 Authorized signatory (signature or seal): Lu Tingxiu (Seal) 
 Date:
January 17, 2008 
  

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}]]