Document:

Translation of Guarantee Agreement between Zhongshan Mingyang Electrical

 Exhibit 10.50 

Maximum Guarantee Contract – Mingyang Wind Power (in quadruplicate) 

 
 Maximum Guarantee Contract 

 No.: GBZ476440120090493 

Guarantor: Zhongshan Mingyang Electrical Appliance Co., Ltd.  

Business License No.: 442000400000499 

Legal Representative/Principal: ZHANG Zhuanwei 

Address: Daling District, Torch High Technology Industry Development Zone, Zhongshan City 

P. C.: 528437 
 Financial Institution of
Deposit and Account No.: Bank of China Zhongshan Branch, 801857520608093001 
 Tel.:
0760-85332537                    Fax: 0760-853325387 

Creditor: Bank of China Limited Zhongshan Branch  

Legal Representative/Principal: XU Peijing 

Address: Zhongyin Building, No. 18,
3rd Zhongshan
Road                    P. C.: 528437 

Tel.: 0760-88336688                    Fax:
0760-88306960 
 In order to ensure performance of the debt under the Master Contract prescribed in Article 1 of this Contract, the
Guarantor is willing to provide guarantee for the Creditor. Both parties have concluded and entered into this Contract through consultation on the basis of equality. Definitions of the terms and expressions under this Contract shall be determined in
accordance with the Master Contract, except otherwise stipulated in this Contract. 
 Article 1 Master Contract 

Master Contract of this Contract: 
 The Credit
Line Agreement concluded and to be concluded by and between the Creditor and the Debtor Guangdong Mingyang Longyuan Power & Electronic Co., Ltd. and Guangdong Mingyang Wind Power Technology Company Ltd. during the period from
January 1, 2007 to December 31, 2012, and the single agreement concluded and to be concluded pursuant to the Credit Line Agreement, and their revisions and supplementary provisions, as prescribed, shall be deemed as the Master
Contract of this Contract. 
 The loan contract, trade finance contract, letter of guarantee, treasury business and other giving credit contract
(hereinafter collectively referred to as the “Single Contract”) concluded and to be concluded by and between the Creditor and the Debtor Guangdong Mingyang Longyuan Power & Electronic Co., Ltd. and Guangdong Mingyang Wind Power
Technology Company Ltd. during the period from January 1, 2007 to December 31, 2012, and its revisions and supplementary provisions, as prescribed, shall be deemed as the Master Contract of this Contract. 

Article 2 Principal Creditor’s Right and Occurrence Period 

The creditor’s rights occurring under the Master Contract shall be deemed as the principal creditor’s right during the following periods, except
that otherwise determined or specified by law: 
 January 1, 2007 to December 31, 2012 specified in Article 1 of this
Contract 
 Article 3 Highest Amount of Credit Guaranteed 

1. The highest principal balance of the credit guaranteed in this Contract is: 

Currency: RMB. 
  

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 (In words): Seven hundred and three million Yuan only  

(In figures) RMB 730,000,000.00 Yuan 
 2.
If it is determined as the principal creditor’s right guaranteed in this Contract on the date when the occurrence period of the principal creditor’s right determined in Article 2 of this Contract, the interests (including legal interest,
contract interest, compound interest and default interest) of the principle of the principal creditor’s right, penalty, damages, the expenses for realization of creditor’s right (including but not limited to legal cost, attorney fee,
notarial fee and execution fee), the loss caused to the Creditor due to the Debtor’s breach and other expenses payable, shall be deemed as the creditor’s right guaranteed, with the specific amount to be determined when it is cleared off.

 The sum of the amount of the creditor’s right determined in the preceding two paragraphs shall be the highest amount of credit
guaranteed under this Contract. 
 Article 4 Guarantee Approach 

The guarantee approach under this Contract adopts the following
1st item:
 
 1. Guarantee of joint and several liabilities 

2. General guarantee 
 Article 5 Occurrence of
Guarantee Liability 
 Where the Debtor fails to repay the Creditor on any normal repayment date or on any advance repayment date under the
Master Contract, the Creditor shall have the right to require the Guarantor to undertake the guarantee liability. 
 The normal repayment date
mentioned in the preceding paragraph refers to, as specified in the Master Contract, the repayment date of the principal, the interest payment date or the date that the Debtor shall pay the Creditor any funds as specified in the contract. The
advance repayment date mentioned in the preceding paragraph refers to the advance repayment date presented by the Debtor and agreed by the Creditor and the date that the Creditor requires the Debtor to recover the debt principal and interest and /
or any other funds in advance pursuant to the Contract. 
 In the event that the principal debt has security or guarantee for other things out
of this Contract, which has no effect on the Creditor to exercise any rights under this Contract, the Guarantor shall not defense the Creditor hereby. 

Article 6 Guaranty Period 
 The guaranty period
under this Contract shall be two (2) years from the date of expiration of the occurrence period of the principal creditor’s right determined in Article 2 of this Contract. 

During the guaranty period, the Creditor shall have the right to require the Guarantor to undertake guarantee liability for part or all, multiple of
single of the principal creditor’s right collectively or respectively. 
 Article 7 Limitation of Action for Guarantee Debt 

In the event the Creditor requires the Guarantor to undertake the guarantee liability prior to the date of the expiration of the guaranty period specified
in Article 6 of this Contract when the principal creditor’s right is not cleared off, under the guarantee of joint and several liabilities, the guarantee debt shall be calculated and the limitation of action shall be applicable as of the date
when the Creditor requires the Guarantor to undertake the guarantee liability. 
 In the event that the Creditor institutes a proceeding or
appeals to arbitration against the Debtor prior to the date of the expiration of the guaranty period specified in Article 6 of this Contract under general guarantee situations, the guarantee debt shall be calculated and the limitation of action
shall be applicable as of the effective date of the judgement or the arbitration award. 
 Article 8 Relationship between this Contract and the
Master Contract 
 Should the service life / business cooperation period of the credit line under the Credit Line Agreement / General Giving
Credit Agreement contained in the Master Contract be extended, the Guarantor’s written consent shall be obtained in advance. 
  

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 Without the Guarantor’s consent or refused by the Guarantor, the Guarantor shall undertake the
guarantee liability for the principal creditor’s right occurring during the service life / business cooperation period of the original credit line within the highest amount of credit guaranteed as specified in Article 3 of this Contract, and
the guaranty period shall remain the original period specified. 
 In case of change of other contents or items of the Credit Line Agreement
/ General Giving Credit Agreement, change of single agreement under the Agreement or change of single master contract, it is unnecessary to obtain the Guarantor’s consent, and the Guarantor shall undertake the guarantee liability for the
Master Contract changed within the highest amount of credit guaranteed as specified in Article 3 of this Contract. 
 Upon unanimity through
consultation between the Creditor and the Guarantor, the highest amount of credit guaranteed as specified in Article 3 of this Contract may be changed in written form. 

Where the Creditor entrusts Bank of China Limited or other institutions to perform all or part of the rights and obligations under the Master Contract or
transfers the principal creditor’s right to a third party, it is unnecessary to obtain consent from the Guarantor and the Guarantor’s guarantee liability shall not be reduced or exempted therefrom. 

Article 9 Declaration and Commitment 
 The
Guarantor hereby declares and commits: 
 1. The Guarantor has been duly registered and validly existing and has the full capacity for civil
conduct and behavioral competence to sign and perform this Contract; 
 2. The Guarantor has fully understood the contents of the Master
Contract. Conclusion and performance of this Contract is based on the Guarantor’s real intention. The Guarantor has obtained legitimate and effective authorization in accordance with this Articles of Association or the requirements of other
internal management files. 
 The Guarantor, if a company, shall ensure provision of the guarantee has been approved by the board of directors
or the shareholders’ committee, or the resolution of shareholders’ meeting in accordance with the Articles of Association. It there is limit under the Articles of Association for the total amount guaranteed and the amount of single item
guaranteed, the guarantee under this Contract does not exceed the stipulated limit. 
 Conclusion and performance of this Contract shall not
violate any contract, agreement or other legal documents which are binding upon the Guarantor; 
 3. All documents and materials that the
Guarantor provides the Creditor are accurate, true, complete and valid; 
 4. The Guarantor shall accept, assist and coordinate the
Creditor’s supervision and examination on the Guarantor’s production and operation conditions and financial status; 
 5. The
Guarantor has not concealed the Creditor of any significant liability undertaken prior to the date of signature of this Contract; 
 6. In case
of any situations possibly affecting the Guarantor’s financial status and contract performance capacity, including but not limited to dismantlement, merger or joint cooperation by any means, or joint investment or cooperation with foreigners,
contractual operation, reorganization, reformation, promotion planning and change of other business mode, reduce of registered capital, transfer of significant assets or shares, significant liabilities undertaken, dissolution, revoke, (being filed)
filing for bankruptcy, or in case of major litigation or arbitration case, the Guarantor shall timely notify the Creditor. 
 Article 10
Disclosure of Affiliated Parties and Related Transactions in the Group of the Guarantor 
 Both Parties have agreed to adopt
the following
2nd item:
 
 1. The Guarantor is not a group customer determined by the Creditor in accordance with the Guide for Risk Management of Customer
Giving Credit of Commercial Bank Group (hereinafter referred to as the Guide). 
 2. The Guarantor is a group customer determined by
the Creditor in accordance with the Guide. The Guarantor shall, in accordance with Article 17 of the Guide, timely report the situations of the related transactions with over 10% net assts, including the transaction parties’
incidence relation, transaction item, transaction nature, transaction amount or corresponding proportion and pricing policy (including the transactions without amount but only with symbolic amount). 

 

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 Article 11 Events of Default and Treatment 

The Guarantor shall constitute or be deemed as breach under this Contract under any one of the following circumstances: 

1. The Guarantor fails to perform its guarantee liability timely according to the stipulations of this Contract; 

2. The Guarantor gives untrue declaration in this Contract or violates the commitment given in this Contract; 

3. There is the event stated in Sub-clause 6 of Article 9, seriously affecting the Guarantor’s financial status and contract performance capacity;

 4. The Guarantor suffers from cessation of business, dissolution, revocation or bankruptcy; 

5. The Guarantor violates other agreements of rights and obligations under this Contract; 

6. The Guarantor has any event of default under other contracts concluded with the Creditor or other institutions of Bank of China Limited. 

In case of any event of default prescribed in the preceding paragraph, the Creditor shall have the right to take any or all of the following measures
according to the actual situations: 
 1. To demand the Guarantor for correction of its breach within a prescribed time limit; 

2. To totally or partly reduce, suspend or terminate the credit line of the Guarantor; 

3. To totally or partly suspend or terminate to accept the Guarantor’s application for business under other contracts; to totally or partly suspend
or terminate to offer the loan not offered and handle the trade finance not handled; 
 4. To announce immediately due all or any of the
principal and interest of the loan not repaid / trade finance funds and other accounts payable under other contracts; 
 5. To terminate or
cancel this Contract; to totally or partly terminate or cancel other contracts concluded by and between the Guarantor and the Creditor; 
 6. To
require the Guarantor to compensate the Creditor for the losses caused to the Creditor due to the Guarantor’s breach; 
 7. To, with notice
in advance or thereafter, deduct the funds in the account opened by the Guarantor with the Creditor to pay all or part of the debts that the Guarantor owes the Creditor. The un-matured funds in the account shall be deemed as acceleration of
maturity. If the account currency is different from the pricing currency of the Creditor’s business, conversion shall be made according to the applicable exchange rate of exchange, settlement and sales listing price of the Creditor; 

8. Other measures that the Creditor deems necessary. 

Article 12 Reservation of Rights 
 No failure on
either party to exercise part or all rights under this Contract and no failure to require the other party to perform or undertake part or all obligations and responsibilities under this Contract shall constitute a waiver of the rights or the
exemption of the obligations and responsibilities. 
 Either party’s tolerance of the other party, extension or delay in exercising any
rights under this Contract shall not affect the party to enjoy any right according to this Contract, and laws and regulations and shall not be deemed as a waiver of the right. 

Article 13 Change, Amendment and Termination 

This Contract may be changed or amended in written form upon unanimity through consultation between both parties. Any change or amendment shall be deemed
as the integral part of this Contract. 
 This Contract shall not be terminated unless all rights and obligations under this Contract are
performed, except otherwise stipulated by laws and regulations or agreed by the parties hereto. 
 The invalidity of any provision of this
Contract shall not affect the validity of any other provision of this Contract, except otherwise stipulated by laws and regulations or agreed by the parties hereto. 

 

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 Article 14 Applicable Laws and Dispute Settlement 

This Contract shall be governed by the laws of the People’s Republic of China. 

Any and all disputes arising from the execution of this Contract may be settled through consultation between both parties. In case that consultation
fails, both parties agree to adopt the same dispute settlement mode as specified in the Master Contract. 
 In case that a dispute does not
affect the other clauses of this Contract during the settlement period of the dispute, the other clauses shall be performed continuously. 

Article 15 Cost 
 All expenses (including the
attorney fee) for conclusion, performance and dispute settlement of this Contract shall be borne by the Guarantor, except otherwise determined by law or agreed by the parties hereto. 

Article 16 Attachment 
 The attachment as
confirmed by both parties shall constitute the integral part of this Contract and shall be equally authentic with this Contract. 
 Article 17
Other Provisions 
 1. Without the Creditor’s written consent, the Guarantor shall not transfer any right and obligation under this Contract
to a third party. 
 2. Should the Creditor entrust other institutions of Bank of China Limited to perform its rights and obligations under this
Contract for business needs, the Guarantor shall approve. Other institutions of Bank of China Limited that the Creditor authorizes shall have the right to exercise all rights under this Contract, to institute a proceeding or submit to the
arbitration organization for arbitral award for any dispute occurring under this Contract. 
 3. Under the conditions not affecting other
provisions of this Contract, this Contract shall be binding upon the parties hereto and their successors and assignees generated by law. 
 4.
Both parties have designated that the address stated in the Contract is the address for communication and contact, except otherwise stipulated, and both parties have committed to notify the other party in written form timely in case of any change of
the address for communication and contact. 
 5. The headings and business names in this Contract are for convenience of reference only and
shall not be used to explain the contents of clauses and the rights and obligations of the parties hereto. 
 Article 18 Execution of Contract

 This Contract shall come into force as of the date of the signature of both parties’ legal representatives, principals or authorized
persons for signature and the official seal of both parties. 
 This Contract has been made out in four (4) originals for both
parties each holding one (1) and the Debtor holding one (1), which shall be equally authentic. 
  

			
	 Guarantor: Zhongsan Mingyang Electrical Appliance Co., Ltd.
	  	Creditor: Bank of China Limited Zhongshan Branch
	 Zhongsan Mingyang Electrical Appliance Co., Ltd. (Official Seal)
	  	Bank of China Limited Zhongshan Branch (Special Seal of Business Contract only)
		
	 Authorized Signatory:
	  	Authorized Signatory:
	 Oct. 15, 2009
	  	Oct. 15, 2009

  

 Page 5/5Translation of Guarantee Agreement between Zhongshan Mingyang dated in June 2009

 Exhibit 10.51 

Guarantee Contract 

Contract No.: [2009] Corporation Guarantee No.141 
  

 
 No.: 141 

Guarantor(Party A): Zhongshan Mingyang Electrical Appliance Co., Ltd. 

Legal Address: Huoju District, Zhongshan City 

Legal Representative (Responsible Person): Zhang Chuanwei 

Fax: 88587751 
 Tel: 88587751

 Creditor(Party B): Bank of Communications, Zhongshan Branch 

Legal Address: No.47, Third Zhongshan Road 

Post Code: 
 Responsible Person: Zhang
Zhenli 
 Fax: 88387231 

Tel: 88387166 

WHEREAS, Party B consecutively grants No.105 credit to Guangdong Mingyang Wind Power Technology Company Ltd. (hereinafter
referred to as “the Debtor”) , Party B and the Debtor have entered into and/or will enter into the RMB Fund Loan Contract, Foreign Currency Fund Loan Contract, Bank Acceptance Agreement, Establishment of L/C Agreement, Guarantee Issuing
Agreement and/or other legal instruments (the above contracts, agreements and/or other legal instruments signed during the creditor’s rights determination period hereinafter referred to as “the Main Contract”) from
June 1st, 2009 to
July 1st, 2010 to: 

 

	(A)	issue RMB/foreign currency loans; 

  

	(B)	accept commercial drafts; 

  

	(C)	establish letters of credit; 

  

	(D)	issue letters of guarantee; and 

  

	(E)	grant other credit business: settlement of insurance claim 

The Guarantor agrees to provide its maximum amount guarantee over a series of debts under the Main Contract to the Debtor. This Contract is entered into
between Party A and Party B after negotiation to abide by. 

 Article 1 Scope of guarantee and the maximum creditor’s rights limit 

Section 1 the scope of maximum guarantee shall be all debts under the Main Contract, including but not limited to total principal, interests
(including compound interest and penalty interest), default penalty, damages and other amounts the debtor shall pay Party B (including but not limited to the relevant handling charges, communication fee, incidental expenses, bank charges under L/C
that the beneficiary refuses to pay, etc), expenses occurred when Party B realizes the creditor’s rights and guaranteed rights (including but not limited to litigation fees, arbitration fees, property preservation fees, travel expenses,
execution fees, appraisal fees, auction charges, notary fees, service fees, notice fees, attorney’s fees, etc.). 
 Section 2
the maximum amount limit under the maximum guarantee hereof shall be RMB 130 million yuan. If Party A has fulfilled some guarantee obligations under this contract, the fulfilled amount shall be reduced from the maximum amount
accordingly. 
 Section 3 the loans, advances, interests, expenses under the Main Contract or Party B’s other creditor’s rights,
even though their actual formation time surpasses the determination time of Party A’s creditor’s rights, all belong to the scope of maximum amount guarantee. The expiration date of the deadline for performance of debts under the Main
Contract is not subject to the expiration date of the determination period of Party B’s creditor’s rights. 
 Article 2 Ways of
Guarantee 
 Party A shall undertake a joint and several liability for the guarantee under this contract hereof. 

Article 3 Guarantee Period 

Section 1 the guarantee period under this contract shall be calculated according to the date on which Party B grants single credit to the
debtor, i.e. it shall start from the date of the Main Contract on single credit granting and terminate two years after the expiration date on which the debtor fulfills all repayment obligations under the Main Contract. 

Section 2 if Party B and the Debtor enter into extension agreement on the debt repayment deadline under the Main Contract, the guarantee
period shall terminate two years after the expiration date of the debt repayment stipulated in the extension agreement. The extension shall not need the guarantor’s permission, and the guarantor shall still undertake a joint and several
liability. 
 Section 3 if matters stipulated in laws, regulations, rules or the Main Contract occur, Part B announces the debts due
in advance, the guarantee period shall terminate two years after the expiration date of the debts due in advance. 
 Article 4 Independence
of the Guarantee Contract 
 The validity of the contract is independent of the Main Contract. The false, ineffectiveness, invalidity,
partial invalidity or revocation and termination of the Main Contract shall not influence the validity of this contract. If the Main Contract is confirmed as false, ineffectiveness, invalidity, partial invalidity or termination, Party A shall
undertake a joint and several liability for the debts brought about by the debtor’s restitution of property or payment for losses. 

 Article 5 Alteration of the Main Contract 

Section 1 Party A agrees, there shall be no need for Party B to notice Party A that Part B and the Debtor enter into the Main Contract or
alter the Main Contract (including but not limited to the extension of the deadline of debt performance or the addition of the principal). Party A shall still undertake guarantee liability within the scope of the maximum amount guarantee.

 Section 2 Party A’s guarantee liability shall not be released when any following conditions occurs. 

 

	(a)	Party B or the Debtor is restructured, merged, acquired, spun-off, added or reduced capital, or joins in with foreign enterprises, associates with other companies and
changes its name; 

  

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

Section 3 when the creditor’s rights under the Main Contract is transferred, the guarantee under this contract shall be transferred
thereupon. 
 Section 4 if the transfer of the creditor’s rights or the debts under the Main Contract is ineffective, invalid,
cancelled or terminated, Party A shall still undertake a joint and several liability for Party B under this contract. 
 Article 6
Obligations of Guarantee 
 Section 1 if the debts under the Main Contract are due or Party B announces the debts due in advance
according to the stipulations of the Main Contract or laws and regulations, the Debtor fails to fulfill the repayment obligation in full and on time or breaches other provisions under the Main Contract, Party A shall undertake a joint and several
liability within the guarantee scope. 
 If Party A fails to pay the payables in full before the deadline required by Party B, Party A shall pay
Party B penalty at a rate of five out of ten thousand each day on the basis of the delayed payables from the overdue date to the date on which Party A pays the payables in full. In this case, the guarantee liability undertaken by Party A plus the
aforesaid penalty is not subject to the maximum guarantee limit stipulated in this contract. 
 Section 2 no matter if Party B owns
other warrants (including but not limited to guarantee, collateral, pledge, letter of guarantee, standby letter of credit and other warrant modes) or not, when the aforesaid other warrants are effected, if they are valid, if Party B puts forward
claims to other guarantors, and no matter if there is a third party who is willing to undertake the whole or partial liability under the Main Contract or if other warrants are provided by the Debtor itself, Party A’s guarantee liability under
this contract shall not be remitted. Party B can directly request Party A to undertake guarantee liability within the guarantee scope as stipulated in this contract. Party A shall not put forward any dissent. 

Section 3 if the maximum guarantee limit stipulated in this contract is lower than the balance of the actual creditor’s rights under the
Main Contract, and the creditor’s rights under the Main Contract are still not liquidated in full after Party A undertakes the guarantee liability, then, Party A promises, Party B’s interests shall not be damaged when Party A claims
(pre-exercises) for the right of subrogation or the right of recovery to the Debtor or other guarantors, and Party A agrees that the liquidation of the debts under the Main Contract is in preference to the realization of Party A’s right of
subrogation or recovery. 

 In this regard, before the creditor’s rights of Party B are repaid in full, 

 

	(a)	Party A agrees not to claim for the right of subrogation or recovery to the Debtor or other guarantors; if Party A realizes the aforesaid rights for any reasons, Party
A shall use the gained fund to preferentially repay Party B the unliquidated creditor’s rights. 

  

	(b)	If there are real securities for the debts under the Main Contract, Party A agrees not to claim for the securities or the fund from the sale of the securities for
reasons of the right of subrogation or any others. The aforesaid securities or the fund from the sale of the securities shall be used to repay Party B the unliquidated creditor’s rights. 

 

	(c)	If the Debtor or other guarantors provide Party A with counter-guarantee, Party A shall use the fund gained based on the aforesaid counter-guarantee to preferentially
repay Party B the unliquidated creditor’s rights. 

 Section 4 Party A has fully understood the risk of foreign
exchange rate. If Party B adjusts interest rate, interest calculation mode or interest settlement mode according to the stipulations in the Main Contract or government’s interest policy change so that the interest, penalty interest and compound
interest to be repaid by the Debtor increase, Party A shall also undertake a joint and several guarantee liability for the increment. 

Section 5 if the Debtor owes other due debts to Party B besides the debts under the Main Contract, Party B has rights to transfer fund in RMB
or other foreign currencies in the bank accounts registered in Bank of Communication system for liquidation of any due debt, while Party A’s guarantee liability shall not be remitted accordingly. 

Article 7 Other Obligations of Party A 

Section 1 Party A shall supervise the Debtor’s usage (use) of the loans and accept Party B’s supervision on Party A’s fund,
assets and operation status. Party A shall provide information, files and materials such as financial reports according to Party B’s requirements and guarantee their accuracy, authenticity, completeness and validity. Without Party B’s
written consent, Party A shall not provide a third party with a security which exceeds its affordability. 
 Section 2 Part A shall
immediately notice Party B in written form and put into practice of the undertaking, transfer or succession of the guarantee liability under this contract according to Party B’s requirements or provide new guarantee accepted by Party B for the
fulfillment of the Main Contract if Party A is contracted, trusted (taken over), leased, reformed on shareholding, reduced registered capital, invested, associated, merged, acquired, purchased and restructured, spun-off, or joins in with foreign
enterprises, is required to suspend business and bring up to business, applies for dissolution, cancelled, applies for bankruptcy, change of the controlling shareholder or actual controller or significant asset transfer, stops production, suspends
business, fined a great amount by compete organs, nullified the registration, cancelled the business license, involved in significant legal disputes, faced with serious operation difficulties or deterioration of financial position, or the legal
representative or the responsible person is unable to perform duties, or it loses or possibly loses guarantee ability for any reasons. 

 Section 3 if Party A alter its industrial and commercial registration information such as name,
legal representative (responsible person), residence, business scope, registered capital or articles of association, it shall notice Party B in written form within thirty business days after the alteration and enclose the relevant altered
materials. 
 Article 8 Miscellaneous 

Section 1 Collection of Payables 
 As
to all Party A’s payables under this contract, Party B has the right to transfer and collect the corresponding amount in RMB or other currencies from Party A’s accounts registered in Bank of Communication system without prior notice. If it
is required to transact foreign exchange settlement and sale or foreign exchange sale and purchase procedures, Party A is obliged to assist Party B to do it. Party A assumes the exchange rate risk. 

Section 2 Use of the Information of Party A 

Party A agrees Party B to inquire Party A’s credit status from the People’s Bank of China and the credit database or relevant units or organs
established under the authorization of competent department of credit investigation. Party A also agrees Party B to provide Party A’s information to the People’s Bank of China and the credit database established under the authorization of
competent department of credit investigation. Party A agrees that Party B may reasonably use and disclose Party A’s information for business requirements. 

Section 3 Public Notice to Push Repayment 

Party B has the right to circulate a notice of Party A’s defaults to relevant departments or units and has the right to conduct public notice to push
repayment through news media. 
 Section 4 Evidence Effect of Party A’s Records 

Unless there are reliable determinate evidences to the contrary, Party B’s internal account records related to the principal, interest, expenses,
repayment records, and the documentations and vouchers made and kept by Party B for the Debtor’s drawing, repayment, interest payment and so on and Party B’s records and vouchers of pushing repayment are all determinate evidences
effectively proving the credit relationship under the Main Contract. Party A shall not raise an objection only because the aforesaid records, documentations and vouchers are made and kept by Party B. 

Section 5 Rights Reserved 
 Party
B’s rights under this contract shall not influence and dispel any rights endowed by laws, regulations and other contracts. Any tolerance, grace,act of Any tolerance, grace, favor or moratorium to the exercise of any rights under the contract
imposed on any act of default or delay shall not be considered as the waiver of the rights and interests under this contract or the permission or approval of any act in violation of the contract, and shall not affect, prevent or impede the
continuous exercise of the rights or any other rights, and shall not lead to Party B’s undertaking obligations and responsibilities for Party A. 

 If Party B does not exercise or suspend the exercise of any rights under the Main Contract or exhaust any
remedies under the Main Contract, Party A’s guarantee liability under this contract shall not be remitted accordingly. However, if Party B remits liabilities under the Main Contract, Party A’s liability under this contract shall be
remitted accordingly. 
 Section 6 Dissolution or Bankruptcy of the Debtor 

After Party A knows the Debtor entering into the dissolution or bankruptcy procedure, it shall immediately notice Party B to declare creditor’s
rights. Meanwhile, Party A itself shall promptly participate in the dissolution or bankruptcy procedure and exercise the right of recovery in advance. If Party A knows or should know the Debtor have entered into the dissolution or bankruptcy
procedure, and it fails to exercise the right of recovery in advance, Party A shall bear the loss by itself. 
 In spite of the stipulation of
section 2 of article 5, during the Debtor’s bankruptcy procedure, if Party B and the Debtor enter into a reconciliation agreement or agree upon a restructuring plan, Party B’s rights under this contract shall not be damaged for the sake of
the reconciliation agreement or the restructuring plan and Party A’s guarantee liability shall not be remitted. Party A shall not confront Party B’s claim for rights in return for the reconciliation agreement or the restructuring plan.
Party B shall still have the right to require Party A to repay the creditor’s rights unliquidated after Party B makes comprise in the reconciliation agreement or the restructuring plan. 

Section 7 Dissolution or Bankruptcy of Party A 

If Party A suffers dissolution or bankruptcy, even though Party B’s creditor’s rights under the Main Contract are still undue, Party B shall
still have the right to participate in the dissolution or bankruptcy procedure to declare rights. 
 Section 8 if Party A’s legal
address or contact information is altered, Party A shall immediately notice Party B. Party A shall undertake all the losses as a result of delayed notice. 

Section 9 Dispute Resolution 
 Any
dispute arising from this contract shall be resolved by negotiation. If the negotiation fails, it shall be resolved by the following first method: 
  

	(a)	to file a lawsuit at the people’s court a local jurisdiction where Party B is located. 

 

	(b)	Application for arbitration with                     
Arbitration Commission in accordance with their arbitration rules effective at the time of application. The arbitral award shall be final with a binding effect upon both parties concerned. 

Section 10 Entry into Force of the Contract 

This contract shall come into effect after signed by Party A’s legal representative (responsible person) and Party B’s legal representative
(responsible person) or affixed with Party A’s official seal and Party B’s official seal. 
 Section 11 the contract is in
triplicate. 
 Section 12 Other Matters Agreed 

The financial claim secured in this Contract includes the claims arisen from the Xinjiang project between Party B and the debtor, as
well as all debts arisen between Party B and the debtor from
November 1st, 2008 to
June 31st, 2009. 

 Article 9 Representation and Warranties of Party A 

 

	(a)	Party A is clearly aware of Party B’s scope of business and delegated authority. 

 

	(b)	Party A has read this contract and all terms and conditions of the Main Contract. Under the request of Party A, Party B has explained the terms and conditions of this
contract and the Main Contract. Party A has fully known and thoroughly understood the intension and corresponding legal consequences of this contract and the Main Contract. 

 

	(c)	Party A is qualified for the guarantor. Its guarantee act conforms to the provisions of laws, administrative regulations, rules and Party A’s articles of
association and internal documents and has been approved by its internal competent authority and/or national competent departments. All responsibilities arising from Party A’s lack of right to sign this contract, including but not limited to
compensating for all losses sustained by Party B, shall be undertaken by Party A. 

  

	(d)	Party A confirms its fully understanding of the Debtor’s assets, debts, operation, credit, reputation, competence and authority for signing the Main Contract and
all the contents of the Main Contract. 

 Party A: Zhongshan Mingyang Electrical Appliances Co., Ltd. 

Legal representative (responsible person) or authorized agent 

Party B: Bank of Communications, Zhongshan Branch 

Legal representative (responsible person) or authorized agent

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]