Contract No.
2009SC000000841
Comprehensive
Financing Line Contract
Party A
：
SinoHub SCM
Shenzhen Ltd.
Address
：
6/F, No. 5
Qiongyu Road, Central Area, Technology Park, Nanshan District,
Shenzhen, China
The legal
representative ：
Hantao
Cui
Phone
：
86-755-26612223
Postcode
：
518057
Party B
：
Shenzhen
Branch, Bank of Hangzhou
Address
：
1-3 Floor, Ai
Hua Mansion, No. 2038 Shen Nan Zhong Avenue, Futian District,
Shenzhen, China
The legal
representative ：
Haobo
Wan
Phone
：
86-755-83885055
Postcode
：
518010
Whereas Party
A applies for comprehensive financing line at Party B, Party A and
Party B agree on the following terms and conditions in accordance
with The Contract Law of the People's Republic of China, The
Guaranty Law of the People's Republic of China, Real Right Law of
the Peoples Republic of China and other relevant laws and
regulations.
Article 1
Comprehensive financing line of credit: please see Article 12
(1).
Article 2 Term
of comprehensive financing line: please see Article 12
(2).
Article 3
Category of comprehensive financing line:
The
comprehensive financing line in this contract includes but is not
limited to the following categories of business:
Bank loan, Bank
Discount Acceptance, confirming agent, guarantee, loan commitment,
opening L/C, Import/export Bill Advance, financial packaging,
forfeiting, etc.
The specific
category, amount, interest rate, rate and term, please refer to the
subcontract for each business category and loan, or other credit
documents.
Article 4 Use
of financing line of credit:
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The
comprehensive financing line shall be used only when Party A
submits the application, after Party B examines and approves, and
both parties sign the subcontract against each business
category.
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The
prerequisite to use the comprehensive financing
line:
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This contract
has taken effect;
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Party A has
provided guarantees according to the requirement of Party B, and
the guarantee contracts has become effect with all the legal or
agreed approval, registration, delivery, etc. procedures
completed.
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No such events
as listed in Article 7 to breach the terms of this contract
occurred before using the financing line of credit;
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The other
conditions required by law, agreed by both parties or required by
Party B.
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Party B is
entitled to refuse the using of this comprehensive financing line
by Party A if one of the above conditions is not fulfilled, but not
including the situation agreed by Party B.
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Party A shall
open an account at Party B, and deposit amount that is equal to the
repayment to this account before the agreed repayment
date.
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Party B shall
fulfill its obligations before the expiration date of each credit,
otherwise, it will be regarded and coped with as overdue credit
(including advances).
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Party A hereby
irrevocably authorizes Party B to deduct the due principal and
interest (amount payable) and other relative expenses of each
subcontract from any account of Party A.
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Article 6
Guarantee method and guarantee contract: please see Article 12
(3).
Article 7
Default Events:
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On the
condition that one of the following situations occurs, it shall be
regarded as an event of default under this contract and the
subcontracts:
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Party A
conceals its financial conditions, the worsening of operations,
decreased registered capital or the failure to pay off, illegal
withdrawal of capital, illegal transfer of property, evading
repayment of debt, losing business creditworthiness or losing the
capability of performing debt obligations;
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The documents
provided by Party A conceals or deviate from the facts, or during
the application and execution of the credit specified in this
contract and subcontract, there existed suspected deceptive
business practices.
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Party A uses
the credit other than the purpose specified in this
contract;
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Any form of
change of business operation or reconstructing the enterprise of
Party A, such as splitting up, merge, acquisition,
integration, setting up joint equity ventures or cooperating with
foreign businesses, contracting, renting, reorganizing, sending out
the shares, reforming the form of ownership, planning going public,
or decreasing registered capital, transferring the ownership of
property or stock equities, etc.;
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No notice to
Party B in written form 7 days after Party A changes its name,
legal representative, legal address, scope of business, registered
capital, ownership structure, etc.;
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Party A
conducts the behavior of evading or escaping from obligations that
is against the state administration of taxation, or is imposed an
administrative punishment, such as order to suspend production
or business operation, or revocation of a permit or license,
etc.;
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Party A
terminates operation or dissolves, dismisses or becomes
bankrupt;
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Party A signs
contracts or agreements with any third party that are harmful to
the interests of Party B;
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Party A or its
legal representative (authorized representative), person in charge
is or is going to be involved in a major lawsuit, arbitration,
criminal case or other legal dispute;
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Party A fails
to deliver the interest according to the terms of a certain single
business subcontract under this contract or repay the due principal
and payables;
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Party A fails
to discharge the debt against any financial
organizations;
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Party A fails
to obey the terms in this contract, or conducts any behavior in
violation of any contracts signed with other organizations of Party
B or Hangzhou Bank Co. Ltd.;
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The guarantors
of this contract fail to obey the terms in this contract, or
violate any contracts signed with other organizations of Party B or
Hangzhou Bank Co. Ltd.;
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There is poor
credit record of Party A in the credit database established or
approved to be established by The People’s Bank of China,
China Banking Regulatory Commission or China Association of
Banks;
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There appears
risks on the credit guarantee provided by Party A (including but
not limited to the worsened financial conditions, decreased
capability of fulfilling obligations, resetting major liabilities
on the collateral guarantee without the consent of Party B,
collateral guarantee being sealed up, and situations agreed in
guarantee contract), and Party A fails to provide new guarantee
meeting the needs of Party B;
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Other
situations occur to Party A, which affects its capability and
sincerity of fulfillin
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