Document:

Agreement for credit facility

 EXHIBIT 10.52 
 NO.A103A06013 
 LOAN CONTRACT 
 Bank of Communications 

 Agreement on Transfer of Receivables 
 Jiao Yin YYYY Zi No.                     
 Party A:Pemstar (TianJin) Enterprise Co,Ltd. 
 Address: 
 Legal Representative: 
 Party B: TianJin Branch, Bank of Communications 
 Address: 
 Legal Representative: 
 Whereas Party intends to transfer the receivables of RMB
             under the Sales Contract for              that Party A executed with
                     Company (hereinafter called “the Third Party”) to Party B in order to timely take back receivables to
improve the utilization efficiency of funds, Party A and Party B have hereby entered into this Agreement through consultation. 
 Article I

 The subject matter of this Agreement is the receivables that the Third Party shall pay to Party A as stipulated in the Sales Contract executed
between Party A and the Third Party. All other rights that Party A enjoys and obligations that Party A bears shall remain with Party A, being irrelevant to Party B. However, the guaranty placed for guaranteeing the realization of the creditor’s
right on Party A’s receivables under the Sales Contract shall be transferred to Party B together with the creditor’s right on the receivables. 
 Article II 
 The details of the receivables under the Sales Contract that Party A transfers to Party
B are listed in the table below: 

															
	 Invoice #
	  	Invoice Value	  	Transfer Price of
Receivables	  	Discount for Transfer	  	Payment Maturity
Date Set in the Sales
Contract	  	Period of Grace	  	Dater of Buy-back	  	Name of Commodity
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
		  	 	  	 	  	 	  		  	 	  		  	
	 Total
	  	64928375.48	  	55494337.95	  	291345.27	  		  	0	  	Apr-9-2006	  	
		  	 	  	 	  	 	  		  	 	  		  	

 Article III 
 The Transfer Price accepted by both parties for the receivables is RMB55,494,337.95yuan with transfer discount being RMB291,345.27yuan. The Transfer Price shall be paid by Party B to Party B’s settlement
account at Party B within three (3) banking days after this Agreement has been signed by both parties and Party A has performed the obligations set in Article IV and Article VI hereof. The Transfer Discount shall be deducted from Party A’s
settlement account by Party B while paying the Transfer Price. 
 Article IV 
 Party A shall submit all the Sales Contract, invoices, delivery receipts and all other commercial vouchers and documents necessary for the verification of Party A’s legitimate creditor’s right to Party B
within three (3) days of the signing hereof. The submission of the abovementioned vouchers and documents shall be a precondition for Party B’s performance of the obligation to pay the Transfer Price. 
 Article V 
 Party A shall notify the Third Party of the
transfer of the receivables and the change to payment terms set in the Sales Contract in writing in the format of “Notice of Transfer of Receivables” attached hereto. 

 Article VI 
 To
perform this Agreement, Party A shall open and maintain a Settlement Account numbered 120066021018010004657 . The receivables hereunder that Party A receive from the Third Party on behalf of Party B shall be deposited in the Settlement Account. The
opening and maintenance of the Settlement Account shall be a precondition for Party B’s performance of the obligation to pay the Transfer Price. Party B shall be entitled to deduct the receivables directly from the Settlement Account after they
have been paid to the Settlement Account 
 Article VII 
 After the transfer of the receivables, Party B shall entrust Party A to collect the receivables for the Third Party. Party A shall, in accordance with the requirement of the “Notice of Transfer of Receivables” attached hereto,
notify and urge the Third Party to timely and fully pay the payment of the Sales Contract to the Settlement Account specified in Article VI hereof. In case the Third Party pays the receivables to any other account by mistake, Party A shall transfer
the payment to the Settlement Account specified in Article VI the same day as such payment is received. For any delay of the transfer of the payment, Party B shall be entitled to receive a penalty from Party A at the rate of
         ten thousandths per diem and Party A shall irrevocably authorize Party B to deduct such penalty and receivables directly from any of Party A’s account opened at the Bank of Communications.

 Article VIII 
 Party A warrants that: 
  

	1.	the Sales Contract corresponding to the receivables transferred by Party A to Party B according to this Agreement is legitimate and valid and Party A has performed the delivery and
all other obligations of Party A under the Sales Contract; 

  

	2.	no article forbidding Party A’s transfer of creditor’s right is contained in the Sales Contract corresponding to the receivables transferred by Party A to Party B in
accordance herewith; 

  

	3.	Party A and the Third Party shall not make any amendment to the Sales Contract after the transfer of the receivables; 

  

	4.	Party A shall strictly perform the Sales Contract to prevent any adverse influence on his right to receive the payment due to improper performance; 

	5.	no dispute that may lead to the Third Party’s refusal to pay such receivables exists with the creditor’s right that Party A shall transfer, including without limitation
any lien, mortgage and repeated transfer and no does any claim or performance of right of setoff of the Third Party exist. 

  

	6.	should any situation whereby the Third Party claims for turn of payment, price deduction, payment of penalty or compensation occur due to dispute arising out of the Sales Contract
after the Third Party has effected the payment, the payment for such claims shall be born by Party A and Party B shall not intervene into any dispute between Party A and Party B out of the Sales Contract nor shall Party B bear any responsibility of
Party A under the Sales Contract. 

 Article IX Buyback 
  

	1.	In case the Third Party fails to pay the receivables in full to the Settlement Account specified in Article VI hereof by the Date of Buyback stipulated herein or advanced Date of
Buyback proclaimed by Party B, Party A shall perform his liability to buyback to Party B for the receivables. 

  

	2.	In case the situation stated in the previous paragraph happens, Party B shall immediately notify Party A in writing to require Party A to pay the receivables in full to the
Settlement Account within stipulated time limit. 

  

	3.	After receiving payment made by Party A, Party B shall retransfer the original title to the receivables transferred to him by Party A to Party A and notify the Third Party in
writing. 

 Article X 
 Should the
Third Party indicate that he will not pay the whole of part of the contractual payment expressly in writing or act due to dispute arising out of the Sales Contract, Party B shall have the right to proclaim advancement of the Date of Buyback and
require Party A to bear the liability of buyback. Party A shall pay the amount of buyback to the Settlement Account specified in Article VI hereof. After buyback, Party B shall retransfer the original title to the receivables transferred to him by
Party A to Party A and notify the Third Party in writing. No adjustment shall be made on the Transfer Discount irrespective for what reason the transferor is required to buyback in advance. 

 Article XI 
 Where the receivables corresponding to more than one invoice under a same sales contract is transfer together and of which the receivables corresponding to one or more of such invoices are in arrears, Party B shall have the right to
proclaim the advancement of the Date of Buyback of other undue receivables and Party A’s obligation to buyback shall be automatically generated. Party A shall pay the amount of buyback to the Settlement Account specified in Article VI hereof on
the day next to the Date of Buyback proclaimed by Party B. After Party A has paid the amount of buyback in full, the receivables corresponding to the amount of buyback shall be retransferred to Party A and Party B shall notify the Third Party.

 Article XII 
 Within three (3) banking days
after Party B has received all the receivables or after Party A has paid up all the amount of buyback, Party B shall notify Party A to withdraw the originals of all the vouchers and documents described in Article IV hereof. 
 Article XIII Liability for Breach 
  

	1.	In case Party A fails to perform his obligations under Article V hereof, that is, Party A fails to notify the Third Party of the transfer of the receivables or the Third Party fails
to receive such notice, the transfer of the receivables shall not take effect. In such cases, Party A shall repay the Transfer Price he has received under Article III hereof to Party B and shall pay Party B a penalty at the rate of
         ten thousandths per diem calculated from the day next to the Date of Buyback or the advanced Date of Buyback proclaimed by Party B to the date on which Party A has actually repaid the Transfer
Price. Party B shall not return the Transfer Discount received from Party A under Article III hereof. 

  

	2.	In case Party A fails to perform his obligations for guaranty under 1, 2 of Article VIII hereof causing this Agreement to be invalid, Party A shall repay the Transfer Price to Party
B in accordance with Article III hereof and shall pay a penalty to Party B as compensation for damage at the rate of              then thousandths per diem calculated from from the
day next to the Date of Buyback or the advanced Date of Buyback proclaimed by Party B to the date on which Party A has actually repaid the Transfer Price. Party B shall not return the Transfer Discount received from Party A under Article III hereof.

  

	3.	In case Party A fails to perform his obligations for guaranty under 3, 4 of Article VIII hereof and amends the Sales Contract with the Third Party or Party A fails to perform his

 obligations under the Sales Contract causing the Third Party’s failure to perform, or refusal to
perform or incomplete performance of his obligations to pay the receivables to Party A, Party A shall bear the liability to buy back the part in connection with the Third Party failure to perform, or refusal to perform or incomplete performance of
his obligations and shall pay Party B the amount of buyback in full on the day next to the Date of Buyback or the advanced Date of Buyback proclaimed by Party B. For any delay of the payment, Party B shall be entitled to receive a penalty from Party
A at the rate of          ten thousandths per diem until Party A has actually bought back. 
  

	4.	In case Party A fails to perform his obligations for guaranty under 5 of Article VIII hereof causing Party A unable to receive the payment in full on the Date of Buyback, Party A
shall bear the liability to buyback the part on which the Third Party fails to pay and shall pay Party B the amount of buyback in full on the day next to the Date of Buyback or the advanced Date of Buyback proclaimed by Party B. For any delay of the
payment, Party B shall be entitled to receive a penalty from Party A at the rate of              ten thousandths per diem until Party A has actually bought back.

  

	5.	In case Party A fails to perform his obligations to buy back within the time limit specified in 2 of Article IX, Party A shall continue to bear his obligations to buy back and shall
pay Party B a penalty calculated at              ten thousandths per diem from the day next to the date of expiration of performance time limit stipulated in 2 of Article IX until
Party A has actually bought back. 

  

	6.	Party A hereby irrevocably authorizes Party B to deduct the payment described in this paragraph and all foregoing paragraphs directly from any of Party A’s account opened at
the Bank of Communications. 

 Article XIV Definitions 
  

	1.	The “Date of Buyback” herein refers to the time limit for the Third Party to pay the receivables as stipulated in the Sales Contract corresponding to the receivables that
Party A transfers to Party B plus          days. 

 (Refer to Article II for
Date of Buyback). 

	2.	The “Transfer Discount” herein refers to the benefit that Party B is to obtain from the acceptance of the transfer of the receivables calculated with the Transfer Price as
base amount. Its formula of calculation is: 

 Transfer Discount = Transfer Price × Financing Period × Discount
Rate. 
 Where Discount Rate =
                            . 
  

	3.	The Period of Financing herein shall be from the date of the signing hereof to the Date of Buyback. 

  

	4.	The amount of buyback by Party A herein = Transfer Price – amount already recovered on the Date of Buyback or the advanced Date of Buyback proclaimed by Party B.

 Article XV 
 This Agreement shall
come into effect after it is signed (affixed seals) by the legal representatives or authorized proxies of both parties. 
 Article XVI

 Any and all disputes arising from the performance hereof shall be settled through consultation between the parties; if no settlement can be reached
through consultation, the disputes shall be submitted to the court having jurisdiction over the place where Party B is seated. 
 Article XVII

 This Agreement is executed in              original copies of which each party
hereto shall hold one and              duplicate copies for reference. 
  

			
	Party A:	  	Party B:
		
	Legal Representative:	  	Legal Representative:
		
	Date:	  	Date:Agreement for credit facility

 EXHIBIT 10.53 
 Loan Contract 
 2006 Nian Min Jin Fen Jie Zi 009 
 CHINA MINSHENG BANKING CORP., LTD. 

 Loan Contract 
 Borrower: Pemstar (Tianjin) Enterprise Co., Ltd..(hereinafter called “Party A”) 
 Domicile: Yat-Sen Scientific & Industrial Park, Wuqing Development Area, Tianjin 
 Postcode: 301726 
 Legal Representative: Roy A. Bauer 
 Tel: 82172083 
 Fax: 82110486 
 Bank of Deposit: Tianjin Branch, China Minsheng Banking Corp., Ltd. 
 Account No.: 2101014180000479 
 Lender: Tianjin Branch, China Minsheng Banking Corp., Ltd.(hereinafter called “Party B”) 
 Domicile: 
 Postcode: 
 Legal Representative/Chief Officer: 
 Tel: 
 Fax: 
 This Contract is made by and between Party A and Party B through friendly negotiations in accordance with relevant current laws and
regulations of the People’s Republic of China. 
 Chapter I Type of Loan 
 Article 1 
 Party B shall, in accordance with the provisions of this
Contract, extend to Party A a     þ  Short term loan     ̈  Medium term loan     ̈  Long term loan. 
 Chapter II Purpose of Loan 
 Article 2

 The Loan under this Contract shall be used as circulating fund. Party B shall not change the purpose of the loan specified in this Contract without
Party A’s written consent. 
 Article 3 
 The amount of the Loan under this Contract shall be (in words): RMB Thirty million  
 Article 4 
 The term of loan hereunder shall be 6 months from Mar-02-2006 (stipulated date of issue) to Sep-02-2006 (stipulated date of maturity). In case the
actual date of issue shall be different from the above stipulated date of issue, the latter shall prevail. The above stipulated term of loan shall remain unchanged and the date of maturity shall automatically change accordingly. 

 In case Party A shall require extension of the term of loan, he shall submit “Application for Extension of Term of
Loan” to Party B 30 days before this Contract expires and the parties shall sign an “Agreement on Extension of Term of Loan” examined and approved by Party B; in case Party B shall not agree to the extension, the term of loan shall
not be extended and Party A shall repay Party B the loan in full in accordance herewith. 
 Chapter IV Calculation of Interest

 Article 5 
 5.1 The interest rate
of the loan hereunder shall be 5.22 % (that is, floating     % [upward] [downward] from the loan interest rate for the same period published by the People’s Bank of China on the date of issue of the loan.); the
date of issue of the loan refers to the date of issue of the loan stated in the receipt of loan or the date on which Party B issues the loan to Party A’s account or an account designated by Party A. In case the two aforesaid dates shall differ,
the date on which Party B pays the loan shall prevail.) 
 5.2 The principal of the loan hereunder shall be deemed as taken out and used by
Party A upon issuance and shall accrue interest from the date of issue of the loan. Party A shall, on each interest settlement date, pay Party B the interest accrued from the following day of the last interest settlement date (or date of issue of
the loan) (inclusive) to the current interest settlement date (inclusive) and the principal mature on the current interest settlement date (if any). Irrespective of whether a date of interest settlement is a banking day Party A shall deposit an
amount of money on his repayment account sufficient for covering the amount due before such date so that Party B can deduct the amount due on the interest settlement date; in case the amount deposited on the repayment account shall not be sufficient
for deducting the amount due, Party B shall be construed as in arrears of repayment and shall pay Party B overdue interest and compound interest at overdue interest rate starting from the interest settlement date. 
 5.3 The interest on the loan hereunder shall be accrued and settled in manner (2) of the following: 
 (2) The interest shall be accrued and calculated on a monthly basis and settled on a quarterly basis on the 20th day of the last month of the quarter with the last interest settlement date being the maturity date of the loan. 
 In case that the loan hereunder shall be misappropriated or overdued, the penalty interest, overdue interest and compound interest shall be accrued and
calculated on a monthly basis. 
 5.4 In case Party A shall fail to pay any interest / principal of the loan as scheduled, Party B shall
calculate and charge an overdue interest on the overdue interest / principal at the rate 30% up-floated above the Contractual loan interest rate (referred to as “overdue interest rate”) starting from the date on which such interest /
principal shall become due. [Note: The proportion of interest rate up-floating in this paragraph is between 30%~50%] 
 5.5 In case Party A
shall fail to use any part of the loan hereunder according to its stipulated purpose, Party B shall calculated and charge a penalty interest at the rate 50% up-floated above the Contractual loan interest 

 rate (referred to as “penalty interest rate”) starting from the date on which such part of the loan shall
become overdue and may attach other responsibilities for breach of contract and shall have the right to declare the entire or part of the undue loan to be due immediately at any time. [Note: The proportion of interest rate up-floating in this
paragraph is between 50%~100%] 
 5.6 In case the People’s Bank of China makes any adjustment to the abovementioned ruling rate of
interest after the loan has been issued, the interest rate of the loan hereunder shall automatically float [upward][downward] by     % and shall be effective as of the day following the first interest settlement date for
the month in which the adjustment is made (in case such adjustment shall happen on a interest settlement date, the automatically adjusted interest rate for the loan hereunder shall be effective as of the day following that interest settlement date).
The interest shall be accrued and calculated starting from the same day when the adjust interest rate becomes effective. 
 When the interest
rate for the loan hereunder shall be adjusted, the penalty interest rate and the overdue interest rate shall be automatically adjusted accordingly and shall be effective simultaneously with the interest rate for the loan hereunder. 
 The parties shall not require to sign any agreement on the interest rates adjusted under this paragraph and neither party shall be required to have the
consent of or notify the other party, neither shall it be necessary to notify or have the consent of the guarantor. 
 Chapter V Drawing of
the Loan 
 Article 6 
 Party A shall draw the loan
hereunder  þ  in lump sum on Mar-02-2006 in several installments in accordance with the dates and amounts specified in Exhibit 1. In case of drawing the loan in installments, the date on
which the first installment of loan is drawn shall be the initial date for the period of the loan under Article 4 hereof. The maturity date of each installment drawn shall not be later than the maturity date of loan under Article 4 hereof.

 Chapter VI Repayment of the Loan 
 Article 7 
  

	7.1	Party A shall repay the principal of the loan  þ  in lump sum on the date of maturity.  ̈ in several installments in accordance with the dates and amounts specified in the Exhibit 2. 

  

	7.2	Party B shall directly deduct and receive the principal of the loan repayable and the interest, overdue interest, compound interest, penalty and other expenses payable by Party A
hereunder from the Party A’s account maintained with any operation establishments of China Minsheng Banking Corp. Limited. 

  

	7.3	If Party A intends to repay ahead of schedule, he shall do so only when there is not any matter of overdue payment and he has obtained Party B’s written consent. In such cases,
he shall file an application with Party B for that purpose 10 banking days in advance. Where Party B approve Party A to repay ahead of schedule, the interest on the loan shall be calculated and charged on the basis of the actual days of usage of the
loan and at the contractual loan interest rate provided herein. 

 Article 8 
 Party B shall have the right to declare that the loan be mature immediately any of the following events shall happen and recover the part of the loan already issued ahead of schedule, stop the issuing of the rest of the loan and take
actions according to law: 
  

	8.1	where Party A shall fail to use the loan or pay the principal, interest and/or any other amounts payable in accordance with the provisions hereof; 

  

	8.2	where, during the validity of this Contract, any event that may endanger the security of loan shall happen due to bad operation and management, including losses or false profit or
being involved in a dispute over obligation, or the dissolution, cancellation or withdrawal of business license or stop of operation shall happen to the Guarantor, or damage or loss of collaterals or any other event shall happen.

  

	8.3	where Party A shall provide Party B with false balance sheet and profit and loss statement or those in which important facts are concealed, or refuse to receive Party B’s
supervision on Party A’s usage of the loan and production, operation and financial activities. 

  

	8.4	where Party A shall expressly represent or indicate with his actions that he will not fulfill any of his obligations hereunder or the Guarantor shall fail to fulfill any of the
obligations under the Guarantee Contract. 

 Chapter VII Security 
 Article 9 
 To ensure that the loan hereunder be paid off, Party A and
Party B have agreed to adopt one or more of the following forms of security: 
  

	 ̈	Guaranty, refer to the “Guaranty Contract” numbered
                    ; 

  

	 ̈	Hypothecation, refer to the “Hypothecation Contract” numbered
                    ; 

  

	 ̈	Mortgage, refer to the “Mortgage Contract” numbered
                    ; 

 If the parties have signed a “Contract on Comprehensive Line of Credit”, then they shall adopt one or more of the following forms of security: 
  

	 ̈	Guaranty, refer to the “Maximum Amount Guaranty Contract” numbered
                    ; 

  

	 ̈	Hypothecation, refer to the “Maximum Amount Hypothecation Contract” numbered
                    ; 

  

	 ̈	Mortgage, refer to the “Mortgage Contract” numbered
                    ; 

 Chapter VIII Rights and Obligations of the Parties 
 Article 10 
 Party A’s Rights and Obligations: 
  

	10.1	Party A shall guarantee that the use of the loan hereunder shall be in compliance with relevant laws, regulations, administrative rules, rules of the sector and trade and Party
A’s article of association or equivalent documents and all necessary licenses or authorizations have been obtained for such use. 

	10.2	Party A shall guarantee to provide true and valid information for and in the process of loan approval. 

  

	10.3	Party A shall accept Party B’s investigation, questioning and supervision on Party A’s use of the loan hereunder. 

  

	10.4	Party A shall actively cooperate with Party B in Party B’s investigation, questioning and supervision on Party A’s production, operation and financial situation and shall
furnish Party A with copies of financial statements including balance sheets, profit and loss statement and cash flow statements on time. 

  

	10.5	Party A shall immediately notify Party B in writing in case any event that constitutes a danger to Party B’s normal operation or to Party B’s performance of his obligation
to repay hereunder shall happen. 

  

	10.6	In case Party A shall take any action such as merge, scission, annexation, remolding with the stock system, contracting, lease, transfer of assets, pooling, making investment,
application for suspension of operation for internal rectification, application for dissolution, application for bankruptcy or any other action that is sufficient to cause a change to the relationship between the creditor’s rights and debts or
Party B’s rights and interests hereunder. Party A shall given Party B prior written notice of such matters and obtain Party B’s written consent; otherwise, Party A shall take any of abovementioned actions. 

  

	10.7	In case Party A shall change its domicile, name or legal representative, he shall give Party B 30 day’s notice about such change(s). 

  

	10.8	Party A shall not provide guarantee exceeding his net value of assets to a third party before he has paid off the loan and interest hereunder. 

  

	10.9	Party A shall obtain Party B’s written consent should he intend to transfer his liabilities hereunder to a third party. 

 Article 11 
 Party B’s Rights
and Obligations: 
  

	11.1	Party B shall guarantee to issue the loan to Party A in accordance with relevant laws and regulations and that the signing of this Contract has been duly authorized.

  

	11.2	Party B shall guarantee to issue the loan to Party A in full amount and as scheduled under the prerequisite that Party A has fully performed his obligations hereunder and satisfied
the conditions for issuing the loan. 

  

	11.3	Party B shall keep Party A’s information confidential, including information about Party A’s liabilities, financial, production and operation data and information, except
as otherwise provided for in law and regulations. 

	11.4	If Party A shall change his domicile during the term of this contract, he shall timely publicize an announcement for the change of address. 

  

	11.5	It shall not be necessary for Party B to obtain Party A’ consent if Party B intends to transfer his creditor’s right hereunder, but Party B shall notify Party B of such
transfer after the contract for the transfer of creditor’s right is signed. 

  

	11.6	The money that Party A shall pay (including the money that Party B shall obtain hereunder) shall be used for clearing off the creditor’s right in the following sequence:
(1) expenses for recovering creditor’s right and security interest; (2) compensation for damage; (3) penalty for breach; (4) compound interest; (5) overdue interest and penalty interest; (6) interest; (7) the
principal. Party B shall have the right to change the sequence. 

 Chapter IX Liabilities for Breach of Contract

 Article 12 
  

	12.1.	Both parties shall perform their respective obligations hereunder; failure of a party to perform or to fully perform any his obligations hereunder shall constitute a breach
to this Contract and the breaching party shall bear liabilities for such breach. 

  

	12.2.	In case Party A shall fail to handle procedures for taking out the loan at Party B’s office as scheduled herein, Party B shall have the right to charge Party A an
overdue interest as penalty calculated on the basis of the amount in breach and the number of days later than scheduled; if Party A shall fail to take the loan out for more than 30 days (including holidays and weekends), Party B shall be entitled to
dissolve this Contract. 

  

	12.3.	In case Part A shall fail to repay any sum due and payable as scheduled, Party B shall have the right to charge Party A the interest and compound interest as provided in this
Contract. 

  

	12.4.	In case Party B shall have to realize his creditor’s right through litigation due to Party A’s reasons, Party A shall bear the expenses of Party B

  

	12.5.	Where Party A has fully satisfied the provisions of this Contract but Party shall fail to provide Party A with the loan in accordance with the provisions hereof, Party A
shall have the right to charge Party B a penalty on calculated at the overdue interest rate based on the amount in default and the number of days overdue. 

 Chapter X Effectiveness of This Contract 
 Article 13 
 This Contract shall come into effect immediately it is signed by the legal representatives / chief officer or their authorized proxies of both parties and affixed
official seals of both parties; however, Party B shall not have the obligation to issue the loan before Party A and his Guarantor (if any) have signed the Guarantee Contract and gone through formalities stipulated therein. 

 Chapter XI Alteration and Termination of This Contract 
 Article 14 
 Neither party shall alter or terminate this Contract
before it expires without the consent of the other party; any alteration to or early termination of this Contract shall be subject to written consent of both parties. 
 Chapter XII Settlement of Disputes 
 Article 15 
 Any and all disputes arising from or in connection with this Contract shall be first settled between the parties through friendly negotiations. If no settlement can be reached through negotiations, the disputes shall
be settled through lawsuit at the court at Party B’s location. 
 Article 16 
 This is a contract for a specific transaction under Contract of Comprehensive Line of Credit numbered (2005) (Tianjin Branch)No. (038). 
 Article 17 
 All notices given hereunder shall be deemed given immediately if delivered by telegraph or facsimile or
on the fourth day if delivered by mail. 
 Article 18 
 Other matters agreed between the parties: 
 _____________________________________________________ 
 _____________________________________________________ 
 Article 19

 This Contract is executed in triplicate having equal legal effectiveness, of which Party A, Party B and      shall
respectively hold one. 
 Article 20 
 At the time of
signing hereof, Party B has made detailed clarification and explanation to Party A on all the terms and conditions hereof and both parties have no objection to any of the terms and conditions hereof and have correct and accurate understanding on

 Article 21 
 This Contract is signed on Mar-02-2006
in TianJin 
  

			
	Party A:	 	Seal:
		
	Legal Representative:	 	(Signature or Seal)
		
	(or Authorized Proxy)	 	
		
	Party B:	 	Seal:
		
	 Legal Representative/Chief Officer:
  
 (or Authorized Proxy)
	 	(Signature or Seal)

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