Document:

Unassociated Document

GUARANTY OF MIT AMBULATORY CARE CENTER, INC.

 

THIS GUARANTY (this “Guaranty”) dated December 31, 2010, is made by MIT Ambulatory Care Center, Inc. (the “Guarantor”), a Georgia corporation, in favor of Globank Corp. (the “ Lender”), a Nevada corporation.

 

WHEREAS, Lender has agreed to make a loan in the principal amount of $1,037,727.08 to MIT Holding, Inc. (the “Borrower”) as provided in the amended and restated promissory note between Lender and Borrower dated the date hereof (the “Promissory Note”); and

 

WHEREAS, Lender has requested that Guarantor guarantee Borrower’s obligations under the Promissory Note.

 

Accordingly, the Guarantor agrees as follows:

 

SECTION 1. GUARANTY.

 

1.1 The Guaranty. The Guarantor hereby guaranties the full and punctual payment and performance when due (whether at stated maturity, upon acceleration or otherwise) of all amounts payable by, and all other obligations to be performed by, the Borrower under the Promissory Note, whether now due or hereafter arising. Upon failure by the Borrower to pay punctually any such payment, or to perform punctually any such other obligations, the Guarantor shall forthwith on demand pay the amount not so paid in immediately available funds at the place specified in the Promissory Note or perform such obligations, as the case may be.

 

1.2 Guaranty Unconditional. The obligations of the Guarantor hereunder shall be irrevocable, unconditional and absolute without regard to:

 

(a) any extension, renewal, settlement, compromise, indulgence, waiver or release in respect of any obligation of the Borrower or any other party thereto under the Promissory Note;

 

(b) any modification or amendment of or supplement to the Promissory Note;

 

(c) any release, non-perfection or invalidity of any direct or indirect security for any obligation of the Borrower or any other party thereto under the Promissory Note;

 

(d) any change in the corporate existence, structure or ownership of, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting, the Borrower or its assets;

 

(e) any invalidity or unenforceability (for any reason) relating to or against the Borrower or any provision of applicable law or regulation purporting to prohibit the payment by the Borrower of (or to reduce or otherwise limit the obligation of the Borrower to pay) any amount payable by the Borrower under the Promissory Note; or

 

  

  

  

 

(f) any exercise or failure to exercise by the Lender of any other rights or remedies it may have under the Promissory Note or the exercise by the Lender of its rights and remedies in any manner or order.

 

1.3 Discharge Upon Payment in Full: Reinstatement in Certain Circumstances. The Guarantor’s obligations hereunder shall remain in full force and effect until the amounts payable by the Borrower under the Promissory Note shall have been paid in full. If at any time any amount payable by the Borrower under the Promissory Note is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated at such time as though such payment had not been made.

 

1.4 Waiver. The Guarantor irrevocably waives acceptance of this Guaranty, presentment, demand, protest and notice, as well as any requirement that at any time any action be taken by any person against the Borrower or any other person.

 

1.5 Subrogation. Upon making any payment hereunder, the Guarantor shall be subrogated to the rights of the Lender against the Borrower with respect to such payment or amount; provided, however, that the Guarantor shall not enforce any right or receive any payment by way of subrogation until all amounts payable by the Borrower under the Promissory Note have been paid in full or the obligations of the Borrower thereunder have terminated, whichever is earlier.

 

1.6 Stay of Acceleration. In the event that acceleration of the time for payment of any amount payable by the Borrower under the Promissory Note is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, all such amounts otherwise subject to acceleration under the terms thereof shall nonetheless be payable by the Guarantor under this Guaranty forthwith on demand.

 

1.7 Payment Guaranty: No Set-Off or Deductions. Guarantor hereby agrees that (a) this Guaranty is a guaranty of payment and not of collection and (b) amounts payable hereunder shall be paid when due, without set-off or reduction for any reason whatsoever.

 

SECTION 2. GUARANTOR DEFAULT.

 

If Guarantor shall default in the timely performance of its obligations under this Guaranty and such default shall be continuing, the Lender may proceed to protect and enforce its rights by action at law, suit in equity or other appropriate proceeding, whether for specific performance of any covenant contained in this Guaranty or in aid of the exercise of any power granted herein, or otherwise.

 

  

  

  

 

SECTION 3. MISCELLANEOUS.

 

3.1 Delay or Omission Not Waiver. No failure on the part of the Lender to exercise, no delay in exercising, and no course of dealing with respect to any right or remedy hereunder will operate as a waiver thereof; nor will any single or partial exercise of any right or remedy hereunder preclude any other further exercise of any other right or remedy. This Guaranty may not be amended or modified except by written agreement of the Guarantor and the Lender.

 

3.2 Notices and Demands. Every notice or demand under this Guaranty shall be in writing and may be given by telecopy.

 

Every notice or demand shall be sent (which may be by courier service) as follows:

 

If to the Guarantor:

MIT Ambulatory Care Center, Inc.

37 W. Fairmont Avenue, Suite 202

Savannah, Georgia 31406

 

With a copy to:

Thomas S. Cullen, Esq.

Hunter, Maclean, Exley & Dunn, P.C.

200 East Saint Julian Street

Savannah, Georgia 31401

 

If to the Lender:

Globank Corp.

P.O. Box 4534

Lancaster, California 93539

 

or to such other office as any party hereto shall from time to time specify in writing to the other parties hereto. Any notice or demand sent by telecopy shall be confirmed by letter dispatched as soon as practicable thereafter.

 

Every notice or demand, except as far as otherwise expressly provided by this Guaranty, shall be deemed to have been received as follows:

 

	
   

	If  by letter:	
at the time of receipt thereof; and

 

	 	
If by telecopy:

	
at the time of dispatch, provided the notice is received prior to 2 p.m. Eastern Standard time on a Business Day; otherwise, it shall be deemed to have been received on the following Business Day.

 

3.3 Terms. The terms of this Guaranty shall be binding upon, and inure to the benefit of, the Guarantor and the Lender and their respective successors and assigns.

 

3.4 Governing Law. This Guaranty shall be governed by and construed in accordance with the laws of the State of Georgia.

 

  

  

  

 

3.5 Consent to Jurisdiction. This Guaranty may be enforced in the federal or state courts in the State of Georgia or in any other courts having jurisdiction. The Guarantor hereby submits itself to the non-exclusive jurisdiction of the United States District Court for the Southern District of Georgia and the courts of the State of Georgia located in the City and County of Chatham for such purpose.

 

3.6 Survivorship. If any term of this Guaranty and any other application thereof shall be invalid or unenforceable, the remainder of this Guaranty and any other application of such terms shall not be affected thereby.

 

3.7 Good Faith Obligation. Nothing in this Guaranty shall be construed as a waiver or release of the obligation of the Lender to act in good faith in accordance with the Uniform Commercial Code.

 

[SIGNATURE PAGE FOLLOWS]

 

  

  

  

 

IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly executed on the date first set forth herein.

 

	 	
MIT AMBULATORY CARE CENTER, INC.,

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	Name:  	 	 
	 	Title:Unassociated Document

EXHIBIT 4.1

 

CHINA GROWTH EQUITY INVESTMENT LTD.

 

UNITS CONSISTING OF ONE ORDINARY SHARE AND ONE WARRANT TO PURCHASE ONE 

ORDINARY SHARE

 

THIS CERTIFIES THAT                                                                                                                                                   is the owner of                                                                                                       Units.

 

Each Unit (“Unit”) consists of one (1) ordinary share, par value $0.001 per share (“Ordinary Share ”), of China Growth Equity Investment Ltd., a Cayman Islands limited life exempted company (the “ Company ”), and one warrant (the “ Warrants ”). Each Warrant entitles the holder to purchase one (1) Ordinary Share (subject to adjustment) for $12.00 per share (subject to adjustment). Each Warrant will become exercisable on the later of (i) thirty (30) days after the Company’s completion of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses (each a “ Business Combination ”), or (ii) twelve (12) months from the closing of Company’s initial public offering, and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which the Company completes its initial Business Combination, or earlier upon redemption or liquidation (the “ Expiration Date ”). The Ordinary Shares and Warrants comprising the Units represented by this certificate are not transferable separately prior to                      , 20___, unless Deutsche Bank Securities Inc. elects to allow separate trading earlier, subject to the Company’s filing of a current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the Company’s initial public offering and issuing a press release announcing when separate trading will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of                      , 2011, between the Company and American Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at _____________, and are available to any Warrant holder on written request and without cost.

 

This certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile signature of its duly authorized officers.

 

	  	  	  
	
Secretary

	  	
President

 

  

  

  

 

China Growth Equity Investment Ltd.

 

The Corporation will furnish without charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation and the qualifications, limitations, or restrictions of such preferences and/or rights.

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
TEN COM

	  	
—

	  	
as tenants in common

	  	
UNIF GIFT MIN ACT

	  	
—

	  	
__________Custodian                     

	 	 	 	 	 	 	 	 	 	 	__________ 
	
TEN ENT

	  	
—

	  	
as tenants by the entireties

	  	  	  	  	  	
      (Cust)

(Minor)

 under Uniform Gifts to Minors

	
JT TEN

	  	
—

	  	
as joint tenants with right of survivorship and not as tenants in common

	  	  	  	
Act

	  	  
	  	  	  	  	  	  	  	  	  	  	
(State)

 

Additional abbreviations may also be used though not in the above list.

 

For value received,                                         hereby sell, assign and transfer unto                                  

 

PLEASE INSERT SOCIAL SECURITY OR

                      OTHER

 IDENTIFYING NUMBER OF ASSIGNEE

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

    

                                                                                                                                                                                                                                                  Units represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

                                                                                                                            Attorney to transfer the said Units on the books of the within named Corporation with full power of substitution in the premises.

 

Dated                                                     

	 	 	 	 	 
	  	  	
Notice:

	  	
The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

	  	  	  	  	  
	
Signature(s) Guaranteed:

	  	  	  	  
	  	  	  	  	  
	
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

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