Document:

exv10w9

Exhibit 10.9

APPENDIX C

LEASE AGREEMENT

Lessor
(“Party A”): Ningbo Longxing Group Co,. Ltd.

Lessee: (“Party B”): Ningbo Fulida Gas Equipment Co. Ltd.

Party A
will lease the buildings it owns to Party B. and Party B needs to rent the same and is
willing to pay relevant expenses thereof. In order to specify the rights and obligations for each
of Lessor and Lessee, the Parties have reached the following agreement (the “Agreement”) upon
consultation and in accordance with the “Contract Law of the People’s Republic of China”:

	I.	 	Party A agrees to lease to Party B, for Party B’s use, a factory building with a construction
space of
8,969m2
and a guard house of 59.5 m2, both located at Renmin Road, Hengxi Town,
Yinzhou District, Ningbo City. Party B will independently operate and manage its business and
bear all civil, economic and legal liabilities arising from its operation.
	 
	II.	 	Lease Term
	 
	 	 	The initial term of the lease will be five years. Lessor will deliver the leased buildings
on February 1, 2005 to Lessee for use. Party B has the option to renew for another five
years on the same terms as provided in this Lease. To exercise this option, Party B will
notify Part A of its intention to renew for another five years not less than thirty days
prior to the expiration of the original lease term.
	 
	III.	 	Rent Computation and Payments

	 	1.	 	Rent Computation: The rent will be RMB 14 per square meters per month, starting from
the effective date of this Agreement. This price may be readjusted three years thereafter in
accordance with the rise or fall of the then market leasing price. Any rise or fall of the new
rental shall not exceed 10% of the previous rental.
	 
	 	2.	 	Rent shall be paid on the effective date of this Agreement, pro rated for the balance of the
month in which this Agreement becomes effective. Thereafter, payments will be made on the first
day of every month.

	IV.	 	Rights and Obligations for the Parties during the Term

	 	1.	 	Party A shall deliver the said buildings to Party B as agreed herein, and, prior to
the delivery, shall provide conditions for electricity and water supply, green space,
paving and repair of roads and floors, and laying of network cables in respect of Party
B’s use. Party A shall also ensure that electricity supply to Party B shall be sufficient
to meet the daily production activities unless such shortages
are due to power rationing imposed by the local government or any power failure beyond
Party B’s control.
	 
	 	2.	 	Any renovations made to the buildings by Party B shall not change the designated use of the
building or its structure and also shall be subject to Party A’s consent, which will not

 

 

	 	4.	 	Any operational costs and expenses, such as taxes, water and electricity charges, telephone
charges, social security fees, hygiene fees, waste disposal charges and other operational
expenses, incurred by Party B through using the buildings during the lease term shall be borne
by Party B. Party A shall not be responsible for any creditor’s rights and liabilities.

	V.	 	Liabilities for Breach of Contract

	 	1.	 	If either Party fails to perform in accordance with the terms and conditions under the
Agreement, the other Party shall have the right to terminate the Agreement.
	 
	 	2.	 	If either Party terminates the Agreement during the lease without obtaining the
consent of the other Party, such Party shall be regarded as having breached the contract,
and shall bear liabilities for such breach. All actual losses incurred as a result by
either Party shall be borne by the defaulting Party.
	 
	 	3.	 	If Party A desires to continue to lease the buildings upon the expiration of the lease and
extension, Party B shall, under equal conditions, have the right of first refusal in respect of
the lease, and new terms and conditions shall be entered into between the Parties upon mutual
agreement through consultation.
	 
	 	4.	 	In the event that the Agreement is unilaterally terminated during the lease term due to
Party A’s taking back of the buildings or due do Party B’s change of its intent regarding the
lease, the other Party shall be given six (6) month’s prior notice, and shall be compensated by
the defaulting Party in an amount equal to three months’ rent.

	VI.	 	Any matters unspecified herein shall be supplemented upon mutual agreement through
consultation. Such supplementary provisions, if written and signed by the Parties shall have
equal force and effect with this Agreement.
	 
	VII.	 	Any disputes arising from the performance of this Agreement shall be settled through
consultation between the Parties. Where such consultation fails, the disputes shall be
submitted for arbitration at the place where Party A is located or for a lawsuit at a People’s
Court in accordance with the principle of territorial jurisdiction.
	 
	VIII.	 	The Agreement shall become effective upon execution by the Parties and only upon the
approval of the Parties’ application submitted to Foreign Trade & Economic Cooperation Bureau
of Yinzhou District, Ningbo, PRC for the formation a Sino-foreign equity joint venture, (“EJV
Application”). The Parties acknowledge that the approval of the EJV Application is a condition
precedent to this Agreement. If Party B’s EJV Application is not approved, then this Agreement
is void.

 

 

	IX.	 	The Agreement shall be made in triplicates, with each Party holding a copy respectively and
the Surveyor holding the remaining copy.

	 	 	 	 	 	 	 	 	 

	Party A (Seal):

	 	 	 	 	 	Party B (Seal):	 	 
	 
	 	 	 	 	 	 	 	 
	Legal Representative:

	 	 	 	 	 	Legal Representative:
	 	/s/ [ILLEGIBLE]
	 

	 	 
	 	 	 	 	 	 
	 

	 	(Signature and seal):
	 	 	 	 	 	(Signature and seal):
	 
	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Date: 1/19/2005	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 

Surveyor (Seal):

Date:exv10w10

Exhibit 10.10

LEASE AGREEMENT

Lessor (“Party A”): Ningbo
Longxing Group Co,. Ltd.

Lessee: (“Party B”): Thermadyne (Ningbo) Cutting and Welding Equipment
Manufacturing Company Ltd.

Party A
will lease the buildings it owns to Party B, and Party B needs to rent the same and is
willing to pay relevant expenses thereof. In order to specify the rights and obligations for each
of Lessor and Lessee, the Parties have reached the following agreement (the “Agreement”) upon
consultation and in accordance with the “Contract Law of the People’s Republic of China”:

	I.	 	Party A agrees to lease to Party B, for Party B’s use, an office building with a
construction space of
1,629m2, located at No. Renmin Road, Hengxi Town, Yinzhou District,
Ningbo City. Party B will independently operate and manage its business and bear all civil,
economic and legal liabilities arising from its operation.
	 
	II.	 	Lease Term

The initial term of the lease will be five years. Lessor will deliver the leased buildings
on February 1, 2005 to Lessee for use. Party B has the option to renew for another five
years on the same terms as provided in this Lease. To exercise this option, Party B will
notify Party A of its intention to renew for another five years not less than thirty days
prior to the expiration of the original lease term.
	 
	III.	 	Rent and Payments

	 	1.	 	Rent: The rent will be RMB 16 per square meters per month, starting from the effective date
of this Agreement. This price may be readjusted three years
thereafter in accordance with the rise of the then market leasing price.
	 
	 	2.	 	Rent shall be paid on the effective date of this Agreement, pro rated for the balance of the
month in which this Agreement becomes effective. Thereafter, payments will be made on the first day of each month.

	IV.	 	Rights and Obligations for the Parties during the Term

	 	1.	 	Party A shall deliver the said buildings to Party B as agreed herein, and, prior to the
delivery, shall provide conditions for electricity and water supply, green space, paving and
repair of roads and floors, and laying of network cables in respect of Party B’s use.
	 
	 	2.	 	Any renovations made to the buildings by Party B shall not change the designated use of the
building or its structure and also shall be subject to

 

 

	 	 	 	Party A’s consent, which will not be unreasonably withheld. Expenses for any
renovations shall be borne by Party B.
	 
	 	3.	 	Upon expiration of this Agreement, Party B shall not seek from Party A any expenses for such
renovations, and shall ensure the intactness of the functionality of the original equipment
and facilities to the same extent as when the building was delivered to Party B, ordinary wear
and tear excepted.
	 
	 	4.	 	Any operational costs and expenses, such as taxes, water and electricity charges, telephone
charges, social security fees, hygiene fees, waste disposal charges and other operational
expenses, incurred by Party B through use of the buildings during the lease term shall be
borne by Party B. Party A shall not be responsible for any creditor’s rights and liabilities.

	V.	 	Liabilities for Breach of Contract

	 	1.	 	If either Party fails to perform in accordance with the terms and conditions under the
Agreement, the other Party shall have the right to terminate the
Agreement
	 
	 	2.	 	If either Party terminates the Agreement during the lease without obtaining the consent of
other Party, such Party shall be regarded as having breached the contract, and shall bear
liabilities for such breach. All actual losses incurred as a result by either Party shall be
borne by the defaulting Party.
	 
	 	3.	 	If Party A desires to continue to lease the buildings upon the expiration of the lease and
extension, Party B shall, under equal conditions, have the right of
first refusal in respect of the lease, and new terms and conditions shall be
entered into between the Parties upon mutual agreement through consultation.
	 
	 	4.	 	In the event that the Agreement is unilaterally terminated during the lease term due to Party
A’s taking back of the buildings or due do Party B’s change of its intent regarding the lease,
the other Party shall be given six (6) month’s prior notice, and shall be compensated by the
defaulting Party in an amount equal to three months’ rent.

	VI.	 	Any matters unspecified herein shall be supplemented upon mutual
agreement through consultation. Such supplementary provisions, if
written and signed by
the Parties, shall have equal force and effect with this Agreement.
	 
	VII.	 	Any disputes arising from the performance of this Agreement shall be
settled through consultation between the Parties. Where such
consultation fails, the disputes shall be submitted for arbitration
at the place where Party A is located or for a lawsuit at a People’s
Court in accordance with the principles of territorial jurisdiction.
	 
	VIII.	 	The Agreement shall become effective upon execution by the Parties
and only upon the approval of Party B’s WOFE application submitted
to Yinzhou District Department of Foreign Trade (“WOFE Application”). The Parties

 

 

	 	 	acknowledge that the approval of Party B’s WOFE Application is a condition precedent to
this Agreement. If Party B’s WOFE Application is not approved, then this Agreement is void.
	 
	IX.	 	The Agreement shall be made in triplicate, with each Party holding a copy respectively and the
Surveyor holding the remaining copy.

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