Document:

ex10_32.htm

     EXHIBIT
10.32 

    
       

       

       Loan
for Export Rebates Custody Account 

       

       

       

       Contract
No :   Borrow 2008 Credit
Line 267001R 

       

       

      

       Party
A :  SinoHub SCM Shenzhen,
Ltd. 

       

       Address
:  6/F, No. 5
Qiongyu Road, Central Area, Technology Park, Nanshan District, Shenzhen,
China 

       

       The
legal representative :  Christina Cui
   Postcode :  518057 

       

       Phone
:  86-755-26612106    
Fax :  86-755-26612060 

       

      

       

       Party
B :  Shenzhen
Branch, China Construction Bank 

       

       Address
:  East Bldg,
Financial center, Hongling Road, Luohu District,
Shenzhen 

       

       The
legal representative :  Tian Hui
Yu     Postcode :  518010 

       

       Phone:
   82389079             Fax
:   82389543 

      

       Party
A applied for a loan to the Export Rebates Custody Account, Party B agreed to
provide a loan for Party A. To clear the rights and obligations of both parties,
Party A and Party B agreed on the following terms and conditions in accordance
with relevant laws and regulations: 

      

        
          	
                   1 

                	
                   Representations
      and Warranties of Party A 

                

        

                 
Party A is incorporated in Shenzhen and is authorized to operate import and
export business. Party A shall meet the following requirements during the term
of contract: 

        
          	  
      	
                   1.1 

                	
                   Party
      A shall open an Export Rebates Custody Account at China Construction Bank
      under the permission of the Import and Export Tax Administration of
      Shenzhen. And Party A agrees to use recognized tax rebate receivables as
      the guarantee of repayment. 

                
	  
      	
                   1.2 

                	
                   Party
      A shall not be one of the “D” type enterprises at the Import and Export
      Tax Administration of Shenzhen. 

                

        

        

        
          	  
      	
                   1.3 

                	
                   Party
      A shall have good tax records for the past two years, no outstanding tax,
      no tax evasion, no tax fraud, and no tax avoidance. 

                
	  
      	
                   1.4 

                	
                   Party
      A shall have good “Cancel after Verification” records, no violation of
      foreign exchange management policy or customs import and export policies
      and regulations. 

                

        

        

        
          	  
      	
                   1.5 

                	
                   Export
      products shall not be sensitive products or products in sensitive areas
      according to Shenzhen Customs. 

                
	  
      	
                   1.6 

                	
                   Party
      A shall have good business operations, financial situation, standard
      corporate management, good reputation at banks, and reasonable assets and
      net assets. 

                

        

         

        
          	
                   2 

                	
                   Amount
      of Loan 

                

        

         Party
B provides RMB15
million loan to the Export Rebates Custody Account of Party
A. 

         During
the term of the loan stipulated in this contract, Party A can reuse the loan, as
long as the total amount of used loan and the balance is within the total amount
of the loan. 

         

        
          
             

          

          
             1 

            
              

            

          

          
             

          

        

         

        
          
            	
                     3 

                  	
                     Term
      for the loan 

                  
	  
      	
                     The
      loan starts on May 12, 2008, and ends on
      May
      11, 2009. The loan shall not be valid for more than one
      year. The repayment time of the loans submitted during the term shall not
      be affected by the end 

                     of
      the term. 

                  
	  
      	
                     Any
      unused loan amount shall be terminated when the term of loan
      ends. 

                  
	  
      	
                     Repayment
      time refers to the period between the withdraw time and the regulated
      pay-off time. 

                  

          

        

         

         

        
          	
                   4 

                	
                   The
      Use of Loan 

                

        

         Within
the term and the amount of the loan, Party A can apply for loans successively.
Loan amount, interest rates, duration, and the use of loan shall be in
compliance with the Applications and Notice of withdrawal issued by Party B to
Party A. 

           
The term of each approved loan shall not be longer than four
months. 

            

         

        
          	
                   5 

                	
                   Interest Rate, Interest
      Calculation, Interest Payment and Fees 

                
	  
      	
                   5.1 

                	
                   Loan
      interest rate 

                

        

                 
The loan interest rate is 10%
above the benchmark interest rate, and the loan interest rate is fixed during
the loan term. 

        
          

          
            
              
                
                  	  
      	
                           5.2 

                        	
                           Defaut
      interest 

                        
	  
      	
                           5.2.1 

                        	
                           Defaut
      interest shall be charged on a monthly base 

                        
	  
      	
                           5.2.2 

                        	
                           If
      Party A does not use the loan for a stipulated purpose, Party A shall pay
      defaut interest, which is 120%
      above the benchmark interest rate. 

                        
	  
      	
                           5.2.3 

                        	
                           If
      Party A does not pay off a loan at the stipulated time, Party A shall pay
      defaut interest, which is 65%
      above the benchmark interest rate. 

                        
	  
      	
                           5.3 

                        	
                           The
      date at which interest begins to be owed (the Value Date) is the day when
      Party B wires the loan amount to Party A’s bank
    account. 

                        
	  
      	
                           5.3.1 

                        	
                           The
      benchmark interest rate refers to the rate that is published by the
      People's Bank of China on the Value Date. When the loan interest rate is
      adjusted, or when there is defaut interest, the benchmark interest rate
      shall be the rate published by the People's Bank of China on date of the
      adjustment. When the People's Bank of China does not publish a benchmark
      interest rate, both parties agree to use the benchmark interest rate,
      which is recognized by the industry, unless otherwise
      agreed. 

                        
	  
      	
                           5.4 

                        	
                           Loan
      interest shall be charged since the day Party B wires the loan to Party
      A’s bank account. Loan interest under this contract shall be charged on a
      daily base. Daily interest rate=monthly interest rate/30=annual annual
      rate/360. If Party A does not pay-off interest on time, Party B shall
      charge compound interest starting on the second day after the interest was
      due. 

                        
	  
      	
                           5.5 

                        	
                           Interest
      payment 

                        
	  
      	
                           5.5.1 

                        	
                           Interest
      under this contract shall be charged on the 20th day of each
      month. 

                        
	  
      	
                           5.6 

                        	
                           Party
      A shall pay Party B a loan management fee, which is 0.5
      % of the
loan. 

                        

                

              

            

          

           

        

        
          	
                   6 

                	
                   Granting
      of loans 

                
	  
      	
                   6.1 

                	
                   Conditions
      of Application 

                

        

         Party
A shall submit to Party B a complete set of export rebate documents which
includes: VAT, export declaration forms, Foreign Exchange Management and Control
Form, export invoices, application form for export rebate, detailed report on
purchase of goods for export, detailed report on exports tax rebate or the like.
Party B shall review those documents and decide the granting of
loan. 

         

        
          
             

          

          
             2 

            
              

            

          

          
             

          

        

         

        
          	  
      	
                   6.2 

                	
                   Prerequisites
      for granting the loan 

                

        

         Party
B is obligated to grant the loan if all of the following conditions are
met: 

        
          	  
      	
                   6.2.1 

                	
                   Party
      A has well finished procedures under loan approval, registration, delivery
      and other legal formalities in accordance with relevant laws and
      regulations. 

                
	  
      	
                   6.2.2 

                	
                   Guarantee
      required by Party B has come into
force. 

                

        

        
          
            	  
      	
                     6.2.3 

                  	
                     Party
      A does not violate any of the provisions in this
    contract. 

                  
	  
      	
                     6.2.4 

                  	
                     Party
      A paid off management fees 10 days after the signing
      of this contract. 

                  

          

        

        
          
            	  
      	
                     6.2.5 

                  	
                     Party
      A has signed a Pledge Contract on Custody Account with Party B. During the
      term of the loan, Party A agrees to have Party B supervise the custody
      account, and Party A shall not wire money from the custody account without
      the permission of Party B. 

                  
	  
      	
                     6.2.6 

                  	
                     The
      loan amount shall not be greater than 90% of the total export
      rebate amount. 

                  

          

        

        
          	  
      	
                   6.2.7 

                	
                   Party
      B must have approved the loan
application. 

                

        

        

        
          	  
      	
                   6.3 

                	
                   Loans
      under this contract shall be wired to the RMB bank account at China
      Construction Bank of Party A. 

                

        

         

        
          	
                   7 

                	
                   Loan
      Repayment 

                
	  
      	
                   7.1 

                	
                   Repayment
      principles 

                

        

        
          	  
      	
                   7.1.1 

                	
                   If
      the loan principle or interest is overdue for more than 90 days, or if
      Party A has shut down production and operation (even though the loan is
      not due), or if it is required by laws and regulations, Party A shall
      repay the principle first, and then the interest. 

                
	  
      	
                   7.1.2 

                	
                   For
      circumstances other than Chapter 7.1.1, Party A
      shall repay the interest first, or interest paid off with
      principal. 

                

        

        
          	  
      	
                   7.2 

                	
                   Interest
      payment 

                

        

         Party
A shall pay off interest on the due date. When the loan is due, interest shall
be paid off with principal. 

        
          	  
      	
                   7.3 

                	
                   Principal
      payment 

                

        

         Party
A shall pay-off principal in according to the schedule on the Loan
application. 

         

        
          	
                   8 

                	
                   Guarantee
      of the Loan 

                

        

                      
The guarantee method under this contract is pledge. 

         

        
          	
                   9 

                	
                   Rights
      and obligations of Party A 

                
	  
      	
                   9.1 

                	
                   Party
      A has the right to request Party B not to disclose any trade secrets on
      corporate information or business operations, unless the disclosure is
      required by rules and
regulations. 

                

        

        
          	  
      	
                   9.2 

                	
                   Party
      A shall submit financial and business operation information under the
      requirements of Party B. Such information shall include, tax registration,
      tax report, export rebate, and import and export data for the last year.
      Party A has to guarantee the authenticity, integrity and effectiveness of
      the information submitted. 

                
	  
      	
                   9.3 

                	
                   Party
      A shall open a bank account at China Construction Bank, and have all the
      transactions under this contract processed through that
      account. 

                

        

        
          	  
      	
                   9.4 

                	
                   Party
      A shall actively cooperate with Party B to inspect and supervise the
      business operation, financial activities, and the use of loans under this
      contract. 

                

        

         

        
          
             

          

          
             3 

            
              

            

          

          
             

          

        

      

       

      
        
          	  
      	
                   9.5 

                	
                   Party
      A shall use the loans for a purpose agreed by both
      parties. 

                
	  
      	
                   9.6 

                	
                   Party
      A shall pay off principle and interest on the due date agreed by both
      parties. 

                

        

        
          
            
              	  
      	
                       9.7 

                    	
                       Party
      A shall not surreptitiously withdraw funds or transfer capital to evade
      the debt. 

                    
	  
      	
                       9.8 

                    	
                       During
      the term of this contract, Party A shall get the permission of Party B
      before making a guarantee (which may affect the liquidity of Party A) for
      a third party. 

                    
	   	
                       9.9 

                    	
                       Party
      A shall promptly provide a new recognized guarantee to Party B when the
      following situations happen to the guarantor: shutting down of production
      or business, cancellation of business registration, cancellation of
      business license, bankruptcy, loss of business, losing some or all of the
      capabilities as a guarantor. When the value of the collateral or pledge of
      this contract is reduced, lost or destroyed, Party A shall also provide a
      new recognized guarantee to Party B promptly. 

                    
	   	
                       9.10 

                    	
                       Party
      A shall promptly inform Party B by written notice when there are changes
      in corporate name, legal representative (person in charge), address,
      business scope, or registered
capital. 

                    

            

          

        

        
          
            
              	  
      	
                       9.11 

                    	
                       When
      situations (which may be detrimental to the rights of Party B) such as
      contracting, leasing, joint-stock reforming, affiliation, merging,
      acquisition, separation, equity participation, business rectification,
      applying for dissolution happen to Party A , Party A shall inform Party B
      within 30 working
      days by written notice, and Party A shall pay-off the outstanding debt and
      implement guarantee obligations under the requirements of Party
      B. 

                    

            

          

        

        
          
            	  
      	
                     9.12 

                  	
                     When
      situations (which may badly affect the liquidity of Party A) such as
      shutting down of production or business, suspension of business
      registration, revocation of license, involvement in illegal activates or
      major lawsuits, having serious difficulties in production and operation or
      financial deterioration happen to Party A, Party A shall inform Party B
      immediately by written notice, and Party A shall pay off the outstanding
      debt and implement guarantee obligations under the requirements of Party
      B. 

                  

          

        

        
          
            	  
      	
                     9.13 

                  	
                     Legal
      fees, insurance, evaluation fees, registration fees, custody fees,
      identification fees, and notary fees under this contract shall be paid by
      Party A. 

                  

          

        

        
          
            	  
      	
                     9.14 

                  	
                     If
      Party A is a group company, Party A shall submit a timely report on
      transactions whose amount is above 10% of the net assets. The report shall
      include: (1) relationships between the transaction parties; (2)
      transaction items and the nature of the transaction; (3) transaction
      amount and corresponding proportion; (4) pricing policies (including
      transactions which are not money related or are just a token
      payment). 

                  

          

        

        
          
            	  
      	
                     9.15 

                  	
                     If
      necessary, Party B has the right to participate in foreign investment,
      asset restructuring and other major issues of Party A, in order to
      effectively implement the repayment and guarantee its
      rights. 

                  

          

        

         

        
          	
                   10 

                	
                   Rights
      and obligations of Party B 

                
	  
      	
                   10.1 

                	
                   Party
      B has the right to know the business operation, financial activities, tax
      affairs, and import and export activities of Party A, and Party B has the
      right to request for relevant information from Party
  A. 

                

        

        
          	  
      	
                   10.2 

                	
                   When
      there are changes in the export rebate law, or Party A has a decline in
      credit, Party B has the right to adjust or terminate the
      loan. 

                

        

        
          	  
      	
                   10.3 

                	
                   Party
      B has the right to recover any designated collection from the bank account
      of Party A at China Construction
Bank. 

                

        

        
          	  
      	
                   10.4 

                	
                   Party
      B shall provide the loan in accordance with the time and amount under this
      contract, but Party B shall not be liable for the delay caused by Party
      A. 

                

        

        
          	  
      	
                   10.5 

                	
                   Party
      B shall not disclose any of the financial information, or business
      operation information of Party A, unless the disclosure is required by
      laws and regulations. 

                

        

         

        
          
             

          

          
             4 

            
              

            

          

          
             

          

        

         

        
          	
                   11 

                	
                   Liabilities 

                
	  
      	
                   11.1 

                	
                   Breach
      of Contract 

                

        

        
          	  
      	
                   11.1.1 

                	
                   Breach
      of Contract by Party A shall mean: 

                

           

          	  
      	
                   11.1.1.1 

                	
                   Party
      A does not provide authentic, complete, valid financial information,
      business operation information or other
  information. 

                

        

        

        
          	  
      	
                   11.1.1.2 

                	
                   Party
      A does not use the loan for the stipulated purpose. 

                
	  
      	
                   11.1.1.3 

                	
                   Party
      A does not pay off loan principle and interest on
  time. 

                

        

        
          	  
      	
                   11.1.1.4 

                	
                   Party
      A refuses to allow or impedes Party B’s ability to supervise and inspect
      the use of the loan. 

                
	  
      	
                   11.1.1.5 

                	
                   Party
      A transfers capital or withdraws funds to evade the debt to Party
      B. 

                

        

        
          	  
      	
                   11.1.1.6 

                	
                   Party
      A cannot pay-off the loan because of business or financial deterioration,
      or Party A is involved or about to be involved in a significant
      litigation, arbitration, or other legal disputes. 

                
	  
      	
                   11.1.1.7 

                	
                   Party
      A has other debts, which have been or are likely to affect Party A to
      fulfill obligations to Party B. 

                

        

        
          	  
      	
                   11.1.1.8 

                	
                   Party
      A does not honor other debts at maturity to China Construction
      Bank. 

                
	  
      	
                   11.1.1.9 

                	
                   Party
      A is having contracting, leasing, affiliation, merging, separation, equity
      participation, joint-stock reforming or other changes of business
      operation, which have been or are likely to be detrimental to the rights
      of Party B. 

                

        

        
          	  
      	
                   11.1.1.10 

                	
                   Party
      A has bad records like tax arrearages, tax evasion, tax fraud, tax
      avoidance, or Party A violates the Foreign Exchange Control policies or
      customs regulations. 

                
	  
      	
                   11.1.1.11 

                	
                   Party
      A has changes in shareholders or equity, which have been or are likely to
      be detrimental to the rights of Party
B. 

                

        

        
          	  
      	
                   11.1.1.12 

                	
                   Other
      situations that may be detrimental to the rights of Party
      B. 

                
	  
      	
                   11.1.1.13 

                	
                   Party
      A violates other provisions in this
  contract. 

                

        

        
          

          
            
              
                	  
      	
                         11.1.2 

                      	
                         When
      the following situations happen to the guarantor, and Party A does not
      provide a new guarantee under the requirements of Party B, it constitutes
      a breach of contract of Party A: 

                      
	   	 11.1.2.1 	
                         The
      guarantor is having contracting, leasing, affiliation, merging,
      separation, equity participation, joint-stock reforming, bankruptcy,
      revoking, or other situations that affect the ability of the
      guarantor. 

                      
	  
      	
                         11.1.2.2 

                      	
                         The
      guarantor provides a third party with a guarantee, which is beyond the
      ability of the guarantor. 

                      
	  
      	
                         11.1.2.3 

                      	
                         The
      guarantor has lost or is likely to lose his guarantee
      ability. 

                      
	  
      	
                         11.1.2.4 

                      	
                         Other
      violations against the guarantee
contract. 

                      

              

            

          

          

          
            	  
      	
                     11.1.3 

                  	
                     When
      any of the following situations happen to the mortgagor, and Party A does
      not provide a new guarantee under the requirements of Party B, it
      constitutes a breach of contract of Party A: 

                  
	  
      	
                     11.1.3.1 

                  	
                     The
      mortgagor does not insure the collateral, or the mortgagor does not use
      the insurance indemnity in accordance with the mortgage
      contract. 

                  

          

           

        

        
          
             

          

          
             5 

            
              

            

          

          
             

          

        

         

        
          	  
      	
                   11.1.3.2 

                	
                   When
      the collateral value is reduced or destructed by a third party, the
      mortgagor does not use the insurance indemnity in accordance with the
      mortgage contract. 

                
	  
      	
                   11.1.3.3 

                	
                   The
      mortgagor transfers, leases, or re-mortgage assets without the written
      consent of Party B. 

                

        

        
          	  
      	
                   11.1.3.4 

                	
                   The
      mortgagor disposes of the collateral without the written consent of Party
      B, and the mortgagor does not use the earnings in accordance with the
      mortgage contract. 

                
	  
      	
                   11.1.3.5 

                	
                   The
      collateral is reduced, lost or destroyed, but the mortgagor does not
      recover the value of the collateral in time, or provide other recognized
      guarantee. 

                

        

        
          	  
      	
                   11.1.3.6 

                	
                   Other
      violations against the mortgage
contract. 

                

        

         

        
          
            
              
                	  
      	
                         11.1.4 

                      	
                         When
      the following situations happen to the pledgor, and Party A does not
      provide a new guarantee under the requirements of Party B, it constitutes
      a breach of contract of Party A: 

                      
	   	
                          11.1.4.1 

                      	
                         The
      pledgor does not insure the pledge, or the pledgor does not use the
      insurance indemnity in accordance with the pledge
      contract. 

                      
	  
      	
                         11.1.4.2 

                      	
                         When
      the pledge value is reduced or destroyed by a third party and the pledgor
      does not use the insurance indemnity in accordance with the pledge
      contract. 

                      
	  
      	
                         11.1.4.3 

                      	
                         The
      pledgor disposes of the pledge without the written consent of Party B, and
      the pledgor does not use the earnings in accordance with the pledge
      contract. 

                      
	  
      	
                         11.1.4.4 

                      	
                         The
      pledge is reduced, lost or destroyed, and the pledgor does not recover the
      value of the collateral in time, or provide other recognized
      guarantee. 

                      
	  
      	
                         11.1.4.5 

                      	
                         Other
      violations against the pledge
contract. 

                      

              

            

          

        

         

        
          	  
      	
                   11.1.5 

                	
                   When
      the guarantee contract does not enter into force, the guarantor loses some
      or all of its abilities, or the guarantor refuses to fulfill its
      obligations and Party A does not provide a new guarantee under the
      requirements of Party B, this will be deemed as breach of contract by
      Party A. 

                

        

        

        
          	  
      	
                   11.2 

                	
                   Remedial
      Measures 

                

        

             
Party B has the right to exercise one or more of the following measures when the
circumstances of above Chapter
11.1 happen: 

        
          	  
      	
                   11.2.1 

                	
                   Party
      B shall adjust or cancel the loan, or modify the loan
      term. 

                
	  
      	
                   11.2.2 

                	
                   Terminate
      the loan and request repayment
immediately. 

                

        

        
          
            	  
      	
                     11.2.3 

                  	
                     Charge
      a penalty, which shall be 144.54 % of the principle
      balance. 

                  
	  
      	
                     11.2.4 

                  	
                     For
      an undue loan, Party B shall charge compound interest in accordance with
      the contract. For an overdue loan (including loans terminated in advance),
      Party B shall charge defaut interest and compound interest in accordance
      with the contract. 

                  

          

        

        
          	  
      	
                   11.2.5 

                	
                   If
      Party A does not use the loan for the stipulated purpose, Party B shall
      charge defaut interest and compound interest for the used loan in
      accordance with the contract. 

                
	  
      	
                   11.2.6 

                	
                   Party
      B has the right to recover any designated collection of this contract from
      the bank account of Party A at China Construction
  Bank. 

                

        

        
          	  
      	
                   11.2.7 

                	
                   Party
      B has the right to exercise the guarantee. 

                
	  
      	
                   11.2.8 

                	
                   Party
      B has the right to request for a new recognized
    guarantee. 

                

        

        
          	  
      	
                   11.2.9 

                	
                   Party
      B has the right to terminate this
contract. 

                

        

         

        
          
             

          

          
             6 

            
              

            

          

          
             

          

        

         

        
          	
                   12 

                	
                   Bank
      In Charge 

                	  
      
	  
      	
                   Party
      B authorizes Cheng Dong Branch of CCB as the bank in charge. After the
      entry into force of this contract, Cheng Dong Branch has the right to
      perform the contract (in whole or in part), debt collection, litigation or
      arbitration, implementation, and chop on related materials or
      documents. 

                

        

         

        
          	
                   13 

                	
                   Amendment
      to the Contract 

                

        

         Any
amendment to this contract shall be agreed in writting by both parties, unless
otherwise agreed. 

         

        
          
            	
                     14 

                  	
                     Other
      issues agreed
__________________ 

                  

          

        

         

        
          	
                   15 

                	
                   Dispute
      settlement methods 

                

        

         During
the term of the contract, all controversy and dispute shall be dealt with
through negotiation. If the two parties are unable to reach an agreement, either
Party can institute legal proceedings in the People’s Court at the place of
Party B. 

         In the
litigation or arbitration, terms or conditions that are not controversial shall
continue to be fulfilled. 

         

        
          	
                   16 

                	
                   Effective
      conditions of the contract 

                

        

         This
contract shall enter into force after the legal representative (primary person
responsible) or authorized person of both parties sign and chop on the
contract. 

         

        
          	
                   17 

                	
                   Agreement
      documents 

                

        

         This
Agreement will be executed in quadruplicate. 

         All
the legal documents under this contract (including but not limited to:
applications, notices, warranties or the like) are an integral part of this
contract. 

         

        
          	
                   18 

                	
                   Acknowledgements 

                
	  
      	
                   18.1 

                	
                   Party
      A is well aware of the business line and authorization of Party
      B. 

                

        

        
          	  
      	
                   18.2 

                	
                   Party
      A has read through this contract. Party B has made explanations on
      corresponding provisions. Party A is well aware of meanings of the
      contract, and the legal
consequences. 

                

        

        
          	  
      	
                   18.3 

                	
                   Party
      A has the right to sign this
contract. 

                

        

         

                     
Signature Page Follows 

         

        
          
             

          

          
             7 

            
              

            

          

          
             

          

        

         

         Party A (Corporate chop):
SinoHub SCM Shenzhen,
Ltd. 

        

        

         Legal
representative or authorized agent (signature): /s/Cui
Hantao 

        

        

        

         April
20, 2006 

        

        

        

        

        

         Party B (Corporate
Chop): Shenzhen Branch,
China Construction Bank 

        

        

        

         Legal
representative or authorized agent (signature): /s/Zhu
Jiusheng 

        

        

        

         April
28, 2006ex10_33.htm

     EXHIBIT
10.33 

     

    
       Comprehensive
Financing Line Contract 

      

      

       Contract
No.  Borrow
2009-015001R 

      

       Party
A:SinoHub
SCM Shenzhen Ltd.  

       Address:6/F, No. 5 Qiongyu Road,
Central Area, Technology Park, Nanshan District, Shenzhen,
China 

       The
legal representative:Cui Hantao
  Postcode:518057 

       Phone:86-755-26612106
Fax:86-755-26612060 

      

       Party
B:Shenzhen
Branch, China Construction Bank 

       Address:East Bldg, Financial center,
Hongling Road, Luohu District, Shenzhen 

       The
legal representative:Tian Hui
Yu     Postcode:518010 

       Phone:______________     Fax:______________ 

      

       Party
B agrees to provide Party A with comprehensive financing line with the
application of Party A and under the condition Party A fulfills the requirements
of Party B. In order to clarify the rights and obligations of both parties,
Party A and Party B agree on the following terms and conditions in accordance
with relevant laws and regulations. 

      

      
        	
                 1   

              	
                 Comprehensive
      Financing Line 

              

      

       Comprehensive
financing line under this contract refers to the maximum amount of comprehensive
capital that Party B offers to Party A under certain conditions during the
effective term agreed in this contract. At any time within effective term of the
comprehensive financing line in this contract, only if the comprehensive
financing balances being occupied by Party A or outstanding does not exceed the
total comprehensive financing line, Party A is entitled to continue applying for
comprehensive financing as agreed in this contract without restrictions on
application time and amount (unless otherwise agreed), as long as the applied
amount, together with the comprehensive financing balances being occupied by
Party A or outstanding does not exceed the total comprehensive financing
line. 

      

      
        	
                 2   

              	
                 Type
      and Amount of Comprehensive Financing
Line 

              

      

       Party
B agrees to provide Party A with a comprehensive financing line of RMB
10million, including the type and amount of each item as
followed: 

       Guarantee
line: RMB
10million, and no guarantee fee is needed to issue each guarantee letter
under this financing line. 

      

      
        	
                 3   

              	
                 Term
      of the Comprehensive financing
line 

              

      

      
        	
                 3.1    
        

              	
                 This
      comprehensive financing line starts on February
      4, 2009, and ends on February
      3, 2010 (“the effective
term”). 

              

      

      
        	
                 3.2      
      

              	
                 When
      the term of the comprehensive financing line expires, the comprehensive
      financing line terminates automatically, and the unused comprehensive
      financing line amount will
expire. 

              

      

      
        	
                 3.3    
         

              	
                 Party
      A shall repay all outstanding amounts on the comprehensive financing line
      during the term of this contract, whether or not the term of the
      comprehensive financing line ends. Party B shall fulfill the approval
      procedures for applications that are submitted during the term in
      accordance with the contract, attachments and other relevant legal
      documents. The ending of the term does not affect the claims and
      debts. 

              

      

      

      
        	
                 4   

              	
                 Interest
      and Fees 

              

      

      
        	
                 4.1    
        

              	
                 The
      starting date, due date, amount, interest rate, interest-bearing manner,
      interest settlement, types of fees, fee rates, the calculation method of
      fees, and fee payments of the Comprehensive Financing Line under this
      contract shall be in compliance with legal documents. When the two parties
      cannot reach an agreement on above items, Party B has the right to reject
      the application for the Comprehensive Financing Line
      financing. 

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

       LIBOR
refers to the interbank rates published by the British Bankers' Association on
11AM (London time), 2 working days before the financing day or the rates
adjustment day. 

      

       HIBOR
refers to the interbank rates published by the Hong Kong Association of Banks on
11AM (Hong Kong time), 2 working days before the financing day or the rates
adjustment day. 

      

      
        	
                 4.2    
         

              	
                 Fees
      that Party A shall pay Party B
include: 

              

      

      
        	
                 4.2.1   

              	
                 Management
      fee of financing line, N/A % of the
      total amount. 

              

      

      
        	
                 4.2.2   

              	
                 Actual
      cost paid by Party B for processing each financing under this
      Comprehensive Financing Line. 

              

      

      
        	
                 4.2.3   

              	
                 Fees
      paid by Party B to recourse letters of credit, bills, guaranteed money
      under this Comprehensive Financing
Line. 

              

      

      
        	
                 4.2.4   

              	
                 Other
      fees agreed by both parties. 

              

      

      

      
        	
                 5   

              	
                 Use
      of the Comprehensive Financing
Line 

              

      

      
        	
                 5.1   
         

              	
                 Within
      the term and amount of the Comprehensive Financing Line, Party A is
      entitled to apply for financing line by written application one by one,
      and after examination and approval, Party B shall provide Comprehensive
      Financing Line financing to Party A one by
  one. 

              

      

      
        	
                 5.2   
         

              	
                 Party
      B is obligated to provide Comprehensive Financing Line financing to Party
      A only under the situation that all of the following conditions are
      satisfied: 

              

      

      
        	
                 5.2.1   

              	
                 Party
      A finished the approval process, registration, delivery, insurance and
      other legal procedures in accordance with the provisions and regulations
      of relevant laws. 

              

      

      
        	
                 5.2.2   

              	
                 Guarantee
      required by Party B has come into
force. 

              

      

      
        	
                 5.2.3   

              	
                 Party
      A does not violate any of the provisions in this
    contract. 

              

      

      
        	
                 5.2.4   

              	
                 Party
      A paid off management fees of Comprehensive Financing Line in compliance
      with this contract. 

              

      

      
        	
                 5.2.5   

              	
                 Party
      A provided all documents required by Party
  B. 

              

      

      
        	
                 5.2.6   

              	
                 Party
      B checks and approves on the application on the Comprehensive Financing
      Line from Party A. 

              

      

      
        	
                 5.2.7   

              	
                 Other
      prerequisite 

              

      

      
        	
                 5.3   
         

              	
                 During
      the term of the Comprehensive Financing Line, the sum of used
      Comprehensive Financing Line and the balance shall be within the total
      amount of the Comprehensive Financing Line. For each financing project
      under the Comprehensive Financing Line, the sum of used project amount and
      the balance shall be within the total amount of that financing
      project. 

              

      

      
        	
                 5.4   
         

              	
                 All
      the outstanding debts under the Comprehensive Financing Line Contract No.
      Borrow 2008-015001R shall be deducted in the total comprehensive financing
      line of this contract, and the financing line shall be restored after the
      debts are settled. 

              

      

      

      
        	
                 6   

              	
                 Legal
      documents Related to This
Contract 

              

      

      
        	
                 6.1   
         

              	
                 Party
      A shall sign the following contracts with Party B when applying for the
      comprehensive financing line each time; those documents are integral parts
      of the contract and they are binding on both parties. Both parties shall
      chop on those documents, and neither party shall question the legal
      validity for the reason that there is no signature on those
      documents. 

              

      

      
        	
                       
      6.1.1   

              	
                 Special
      agreements on the comprehensive financing
  line 

              

      

       Attachment
#1: Special agreement on the Issue of Letter of Credit 

       Attachment
#2: Special agreement on Trust Receipt 

       Attachment
#3: Special agreement on Delivery Against Bank Guarantee 

       Attachment
#4: Special agreement on Packing Credit 

       Attachment
#5: Special agreement on Outward Documentary 

       Attachment
#6: Special agreement on Export Negotiation 

       Attachment
#7: Special agreement on Export Collection Loan 

       Attachment
#8: Special agreement on Usance Bill Discount 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                 6.1.2   

              	
                 Other
      special agreements: 

              

      

       Attachment
#9: Special agreement on Comprehensive financing line Loan 

       Attachment
#10: Special agreement on Comprehensive financing line
Guarantee 

       Attachment
#11: Special agreement on Bank Acceptance 

       Attachment
#12: Special agreement on Discount of Bill of Exchange 

       Attachment
#13: Special agreement on Transaction Line of Credit 

       Attachment
#14: Special agreement on Facility Extent 

      

      
        	
                 6.1.3   

              	
                 When
      Party A applies for a Dragon Business Card from Party B under this
      contract, Party A shall sign the Dragon
      Business Card Cooperation Agreement of
      China Construction Bank and its attachments (including but not
      limited to: Schedule
      of Charges of Dragon Business Card, Regulations
      of Credit Card of China Construction Bank, statements of account,
      Organization
      details of Dragon Business Card, Cardholder
      details for Dragon Business Card, other contracts, Requisitions,
      Notices,  Credentials, and other legal documents which certify
      the claims and debts) and be in compliance with
  them. 

              

      

      
        	
                 6.1.4   

              	
                 Others
      _______________________________________________ 

              

      

      

      
        	
                 6.2   
         

              	
                 When
      applying for the comprehensive financing line transactions, Party A shall
      submit the application for each project. Applications that are approved by
      Party B are integral parts to this contract and attachments, and they are
      binding on both parties. 

              

      

      
        	
                 6.3   
         

              	
                 When
      Party A applies for a Usance Credit, a Sight Credit under which Party B
      has no control on goods, a Delivery Against Bank Guarantee or a Trust
      Receipt loan, Party A shall also submit a Trust
    Receipt. 

              

      

      

      
        	
                 7   

              	
                 Rights
      and Obligations 

              

      

      
        	
                 7.1   
         

              	
                 Party
      A has the right to request Party B not to disclose any trade secrets on
      corporate information or business operations, unless the disclosure is
      required by rules and regulations,or otherwise
      agreed by the two parties. 

              

      

      
        	
                 7.2   
         

              	
                 Party
      A shall provide statistical
      reports, accounting statements, business operation information under the requirement of
      Party B, and Party A shall guarantee the authenticity, integrity
      and effectiveness for what he provided. If Party A is a group company,
      Party A shall provide a timely report on transactions whose amount is
      above 10% of the net assets. The report shall include: (1) relationships
      between the transaction parties; (2) transaction items and the nature of
      the transaction; (3) transaction amount and corresponding proportion; (4)
      pricing policies (including transactions which are not money related or
      are just a token payment). 

              

      

      
        	
                 7.3   
         

              	
                 Party
      A shall actively cooperate with Party B to inspect and supervise the
      business operation, financial activities, and the use of comprehensive
      financing line under this
contract. 

              

      

      
        	
                 7.4   
         

              	
                 Party
      B has the right to adjust or terminate the comprehensive financing line
      when Party B notices that operational changes have occurred that will
      affect the business operations of Party
A. 

              

      

      
        	
                 7.5   
         

              	
                 Party
      A shall open a RMB or foreign currency account at China Construction Bank,
      and shall authorize Party B to process export settlement, financing
      business for import and export, and other bank
    operations. 

              

      

      
        	
                 7.6   
         

              	
                 Party
      A shall use the comprehensive financing line for the purpose agreed by
      both parties. 

              

      

      
        	
                 7.7    
        

              	
                 Party
      A shall pay off debts within the time agreed by both
      parties. 

              

      

      
        	
                 7.8    
        

              	
                 Party
      A shall take the risk on exchange rate. When the total amount of the
      comprehensive financing line used may be or has been greater than the
      agreed amount due to the risk of exchange rate, Party A shall provide
      recognized guarantee after receiving a notice from Party
      B.  When the total used comprehensive financing line may be or
      has been greater than the agreed amount due to the change of exchange
      rate, Party B has the right to terminate the comprehensive financing
      line. 

              

      

      
        	
                 7.9   
         

              	
                 Party
      A shall not surreptitiously withdraw funds, transfer capital or use
      associated transactions to evade the debt to Party B by Party A. Party A
      shall not use false contracts, false notes receivable, false account
      receivable to discount or pledge to the bank, taking bank funds or
      credit. 

              

      

      
        	
                 7.10     

              	
                 Party
      A shall immediately inform Party B by written notice when there are
      industrial and commercial registration changes on corporate name, legal
      representative (person in charge), address, business scope, registered
      capital or the corporate
constitution. 

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                 7.11   
        

              	
                 Party
      A shall guarantee that Party A shall not sign any contracts, which are
      detrimental to the rights and interests of Party B with a third
      party. 

              

      

      
        	
                 7.12   
        

              	
                 During
      the contract until all outstanding debt has been repaid, without the
      written consent of Party B, Party A shall not provide a guarantee for any
      third party. 

              

      

      
        	
                 7.13   
        

              	
                 Party
      A shall take liability for any loss of Party B caused by the violation of
      this contract by Party A, or by a third
  party,. 

              

      

       

      
        	
                 8   

              	
                 Liabilities
      and Remedial Measures 

              

      

      
        	
                 8.1 
            

              	
                 Breach
      of Contract and Liabilities by Party
B 

              

      

      
        	
                 8.1.1   

              	
                 If
      Party B violates this contract, attachments, or approved applications,
      Party A may require Party B to fulfill its obligations according to the
      contract; 

              

      

      
        	
                 8.1.2   

              	
                 If
      Party B charges Party A any interest or fee, which is prohibited according
      to laws and regulations, Party A has the right to request a refund from
      Party B. 

              

      

      
        	
                 8.2 
            

              	
                 Breach
      of Contract by Party A shall
mean: 

              

      

      
        	
                 8.2.1   

              	
                 Party
      A violates this contract, attachments, or any approved application, or any
      statutory duty; 

              

      

      
        	
                 8.2.2   

              	
                 Party
      A makes it clear that Party A shall not fulfill this contract,
      attachments, or any obligations under approved
      applications. 

              

      

      
        	
                 8.3 
            

              	
                 Situations
      That Are Detrimental to the rights of Party
  B 

              

      

      
        	
                 8.3.1   

              	
                 Situations
      that are detrimental to the rights of Party B include: contracting,
      takeover, leasing, joint-stock reforming, registered capital reduction,
      investing, affiliation, merging, acquisition, restructuring, separation,
      equity participation, business rectification, applying for dissolution,
      applying for bankruptcy, changing of the controlling shareholder,
      significant changes to assets, shutting down of production or business,
      taking heavy fines, suspension of business registration, revocation of
      business license, involvement in major lawsuits, having serious
      difficulties in production and operation, financial deterioration, the
      legal representative or the primary responsible person can not perform
      their duties. 

              

      

      
        	
                 8.3.2   

              	
                 Situations
      that are detrimental to the rights of Party B include: Party A does not
      pay off other mature debts (including debts to other branches of China
      Construction Bank or a third-party), or transfers property at a low price,
      or abates a debt, or delays in exercising other rights, or offers a
      guarantee for a third-party. 

              

      

      
        	
                 8.3.3   

              	
                 Party
      A abuses the independent status of its legal representative, or limited
      liability for shareholders to avoid debts, which are detrimental to the
      rights of Party B. 

              

      

      
        	
                 8.3.4   

              	
                 Party
      A does not meet any of the prerequisites stipulated in this contract,
      attachments, or other agreements under comprehensive financing line
      financing. 

              

      

      
        	
                 8.3.5   

              	
                 Any
      of the following situations related to the guarantor shall be considered
      as detrimental to the rights of Party
B: 

              

      

      
        	
                 8.3.5.1   

              	
                 Violates
      any provisions under the guarantee contract, or makes untrue, false, or
      incomplete representations and
warranties. 

              

      

      
        	
                 8.3.5.2   

              	
                 The
      competency of the guarantor is negatively affected by the following
      situations:  contracting, takeover, leasing, joint-stock
      reforming, registered capital reduction, investing, affiliation, merging,
      acquisition, restructuring, separation, equity participation, business
      rectification, applying for dissolution, applying for bankruptcy, changing
      of the controlling shareholder, significant changes to assets, shutting
      down of production or business, taking heavy fines, suspension of business
      registration, revoking the license, involving in major lawsuits, having
      serious difficulties in production and operation, financial deterioration,
      the legal representative or the primary responsibility can not perform
      their duties. 

              

      

      
        	
                 8.3.5.3   

              	
                 Other
      circumstances that may cause the loss or potential loss of the guarantee
      ability. 

              

      

      
        	
                 8.3.6   

              	
                 Any
      of the following situations relates to the mortgage or pledge shall be
      considered as detrimental to the rights of Party
  B: 

              

      

      
        	
                 8.3.6.1   

              	
                 Value
      of mortgage or pledge decreases because of national government collection,
      confiscation, expropriation, free-charge recover, demolition, changes in
      market conditions or any other
reason; 

              

      

      
        	
                 8.3.6.2   

              	
                 Mortgage
      or pledge is seized, detained, frozen, deducted, confined, sold at
      auction, supervised by an administration, or under ownership
      dispute; 

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                 8.3.6.3   

              	
                 The
      mortgagor of pledgor violates any provisions under the mortgage or pledge
      contract, or makes untrue, false, incomplete representations and
      warranties. 

              

      

      
        	
                 8.3.6.4   

              	
                 Other
      circumstances that may be detrimental to the mortgage or pledge right of
      Party B. 

              

      

      
        	
                 8.3.7   

              	
                 Any
      of the following situations shall be considered as detrimental to the
      rights of Party B: guarantee is not established, or does not come into
      effect, or is revoked, or is relieved, or the guarantor violates the
      contract or makes it clear he will not to fulfill the guarantee
      responsibilities, or the guarantor loses some or all of the guarantee
      capabilities, or the value of the collateral is reduced or other
      circumstances. 

              

      

      

      
        	
                 8.4   
         

              	
                 Remedial
      Measures 

              

      

       Party
B has the right to exercise one or more of the following measures when the
circumstances of above Chapter
8.2 or 8.3
happen: 

      
        	
                 8.4.1   

              	
                 Party
      B shall adjust or terminate the comprehensive financing line or a single
      financing under the comprehensive financing
  line. 

              

      

      
        	
                 8.4.2   

              	
                 Party
      B shall terminate all the contracts and attachments, and request an
      immediate pay off on mature or undue principal, interest, and
      fees. 

              

      

      
        	
                 8.4.3   

              	
                 Party
      B shall charge defaut interest and compound
  interest. 

              

      

      
        	
                 8.4.4   

              	
                 Party
      B shall exercise the guarantee
right. 

              

      

      
        	
                 8.4.5   

              	
                 Other
      remedial measures, include but are not limit
  to: 

              

      

      
        	
                 8.4.5.1   

              	
                 Recover
      money from the bank account of Party A at China Construction Bank, without
      advance notice to Party A; 

              

      

      
        	
                 8.4.5.2   

              	
                 Require
      Party A to provide a new recognized guarantee for the contract and
      attachments. 

              

      

      
        	
                 8.4.5.3   

              	
                 Terminate
      the contract and attachments. 

              

      

      
        	
                 8.4.5.4   

              	
                 Other
      remedial measures stipulated in
attachments. 

              

      

      

      
        	
                 9   

              	
                 Miscellaneous 

              

      

      
        	
                 9.1   
         

              	
                 Fees
      payment 

              

      

       Fees
under the contract such as retaining fee, insurance, evaluation fee,
registration fee, custody fee, identification fee, and notary fee shall be paid
by Party A, except as otherwise agreed. 

      

       Fees
charged to Party B for carrying out the rights as the creditor (including but
not limited to: legal expenses, arbitration fees, property preservation fees,
travel expenses, implementation costs, evaluation fees, auction fees, notary
fees, delivery fees, advertising costs, retaining fees) shall be paid by Party
A. 

      

      
        	
                 9.2   
         

              	
                 The
      Use of Information 

              

      

       Party
A authorizes Party B to check the credit status of Party A from the credit
database, which is created under the permission of the People's Bank of China
and the credit department. And Party A authorizes Party B to submit credit
status of Party A to the database. In addition, Party A authorizes Party B to
reasonably use and disclose information of Party A for business
use. 

      

      
        	
                 9.3   
         

              	
                 Collection
      Notice 

              

      

       If
Party A defaults on the outstanding loan principal and interest, or breaches
this contract, Party B has the right to inform relevant departments or units,
and carry out collection notices through public media. 

      

      
        	
                 9.4   
         

              	
                 Evidential
      Effects of Records of Party B 

              

      

       Unless
there is reliable evidence to the contrary, all records of Party B, which
include records of principal, interest, fees, and receipts of repayment,
withdrawals, interest payments, and other collection notices and warranties,
shall determine the debtor creditor relationship. Party A shall not challenge
the legal validity for the reason that those records are unilaterally produced
or retained by Party B. 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
   

      
        	
                 9.5   
         

              	
                 Reservation
      of Right 

              

      

       Rights
of Party B under this contract shall not exclude any other right in accordance
with laws and regulations and other contracts. Any act of tolerance, grace
period, concessions or delay of the exercise of the provisions of this contract
following Party A’s violation can not be considered that Party B gives up its
rights and interests under this contract, nor that Party B permits or approves
of such violation. Moreover, there shall be no restrictions to prevent or impede
Party B from exercising other rights, and any act of tolerance, grace period,
concessions or delay of the exercise of the provisions of this contract does not
obligate Party B to future acts of this kind toward Party A. 

      

      
        	
                 9.6   
         

              	
                 If
      there is other debt in addition to the debt under this contract, Party B
      has the right to recover money from the bank account of Party A in China
      Construction Bank to pay any of the mature debt. Party A agrees not to
      raise any objections. 

              

      

      

      
        	
                 9.7   
         

              	
                 Party
      A shall inform Party B by written notice of address or contact information
      changes, any loss caused by deferred notice shall be taken by Party
      A. 

              

      

      

      
        	
                 9.8    
        

              	
                 Charge
      of Accounts Receivable 

              

      

      
        	
                 9.8.1   

              	
                 For
      all accounts receivable under this contract, Party B has the right to
      recover money from the bank account of Party A in China Construction Bank,
      without advance notice to Party A. When the foreign exchange settlement
      and foreign exchange trading procedures are required, Party A shall
      cooperate with Party B, and Party A shall take the exchange rate
      risk. 

              

      

      

      
        	
                 9.9   
         

              	
                 Dispute
      settlement methods 

              

      

       During
the term of the contract, all controversy and dispute shall be dealt with
through negotiation. If the two parties are unable to reach an agreement, either
Party can institute legal proceedings in the People’s Court at the place of
Party B. 

       In the
litigation or arbitration, terms or conditions that are not controversial shall
continue to be fulfilled. 

      
        	
                 9.10  
         

              	
                  Effective
      conditions of the contract 

              

      

       This
contract shall enter into force after the legal representative (primary person
responsible) or authorized person of both parties sign and chop on the
contract. 

      
        	
                 9.11      

              	
                 This
      Agreement will be executed in
  quadruplication. 

              

      

      
        	
                 9.12  
         

              	
                 Other
      issues agreed
  ________________________________________ 

              

      

      
        	
                 9.13  
         

              	
                 All
      the legal documents under this contract (including but not limited to:
      attachments, applications, agreements, documents, warranties or the like)
      are an integral part of this contract to specify rights and liabilities of
      both parties. 

              

      

      

      
        	
                 10   

              	
                 Bank
      In Charge 

              

      

       Party
B authorizes Cheng Dong Branch of CCB as the bank in charge. After the entry
into force of this contract, Cheng Dong Branch has the right to perform the
contract (in whole or in part), debt collection, litigation or arbitration,
implementation, and chop on related materials or documents. 

      

      
        	
                 11   

              	
                 Acknowledgements 

              

      

      
        	
                 11.1 
         

              	
                 Party
      A is well aware of the business line and authorization of Party
      B. 

              

      

      
        	
                 11.2  
        

              	
                 Party
      A has read through this contract. Party B has made explanations on
      corresponding provisions. Party A is well aware of meanings of the
      contract, and the legal
consequences. 

              

      

      
        	
                 11.3  
        

              	
                 Party
      A signs and performs it obligations under this contract in line with laws,
      regulations, and corporate constitutions, and Party A gets the
      authorization or approval from the corporate authority or state
      authority. 

              

      

      

       Party
A (Corporate chop): SinoHub SCM
Shenzhen, Ltd. 

      

      

       Legal
representative or authorized agent (signature): /s/Cui Hantao 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

       January
21, 2009 

      

      

      

      

      

       Party
B (Corporate Chop): Shenzhen
Branch, China Construction Bank 

      

      

      

       Legal
representative or authorized agent (signature): /s/Zhu
Jiusheng 

      

      

      

       February
4, 2009

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]