ABSTRACT
On December 5, 2011, Guangzhou Liwan of China Construction Bank (CCB Liwan) and Guangdong Lanyue Energy Development Co., Ltd. (Lanyue Energy) signed the Trade Financing Amount Contract 2011 Li Mao E No. 011 and related annexes, agreeing that from December 22, 2011, to November 25, 2012, CCB Liwan would provide Lanyue Energy with a maximum trade financing quota of not more than RMB 550 million, including the opening of a usance letter of credit with a commitment period of less than 90 days (inclusive) and an equivalent amount of RMB 550 million only. On December 5, 2011, CCB Liwan signed Maximum Guarantee Contracts numbered 2011 Li Zui Gao E No. 035 and 2011 Li Zui Gao E No. 036 and Maximum Natural Person Guarantee Contract numbered 2011 Li Zi Bao No. 070 with Huilai Yuedong Electric Power Fuel Co., Ltd. (Yuedong Electric Power), Guangdong Lanhai Shipping Co., Ltd. (Lanhai Shipping) and Lan, respectively, agreeing that Lan would provide joint liability guaranty with a maximum limit of RMB 2.67 billion for the debt obligations under the above-mentioned Trade Financing Amount Contract of Lanyue Energy. The scope of guaranty was all debt obligations under the principal contract. The contract also stipulates that if the debt obligations under the principal contract expired, CCB Liwan declared that the debt obligations expired ahead of schedule according to the agreement of the principal contract or legal provisions, the obligor failed to perform in full and on time, or the obligor violated other agreements of the principal contract, Lan would bear liability of guaranty within the scope of guaranty.
