The Borrowers obligations hereunder and under the Notes rank and will rank at least pari passu in priority of payment and in all other respects with all indebtedness of the Borrower, and the Borrower will not secure or allow to be secured any other indebtedness now or hereafter existing by any mortgage, lien, pledge or other charge upon its present or any future assets or revenues（except trust receipts made in the normal course of business）unless the benefit of such security is at the same time extended equally and ratably to the Borrowers obligations hereunder and under the Note. The Borrower will insure that all applicable laws in the appropriate jurisdictions are complied with so that the Borrowers obligations hereunder and under the Note shall rank at least equally with such other Indebtedness.
Section 7.4 Maintenance of Consents and Registrations
The Borrower will do and cause to be done all things necessary to, and it will comply with all laws applicable to it and it will obtain all consents, licenses, approvals or authorizations of or registrations with any governmental authority, bureau agency which may at any time be required or desirable in the opinion of the Bank with respect to this Agreement, any amendment of supplement hereto, and the Note and shall take all necessary and appropriate action to ensure the continuance in force of all consents, licenses, approvals, authorizations or registrations so obtained, the Borrower shall deliver to the Bank a certified copy of the (Central Bank) loan registration letter（and a Board of Investment Section 37 approval letter）within ninety days from the date hereof.
Section 7.5 Insurance
The Borrower will at all times at its own expense insure and keep insured, with such insurance as the Bank may from time to time reasonably approve, all buildings and constructions of an insurable nature being or forming part of its property, and shall maintain insurance with responsible and reputable insurance companies or associations in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower operates.
Section 7.6 Maintenance of Existence, Conduct of Business
The Borrower will preserve and maintain its corporate existence, its business as presently conducted, and all of its rights, privileges and franchises necessary or desirable in the normal conduct of said business, keep its properties useful or necessary in its business in good working order and condition, and will comply with all applicable laws and regulations of any person and the terms of any indenture, contract or other instrument to which it may be a party or under which it or its properties may be bound, if noncompliance will have a material adverse effect upon its financial condition.
Article 8 Events of Default
Section 8.1 If any one or more of the following“Events of Default”shall have occurred and be continuing（whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule, regulation or decree of any administrative or governmental body）;
（a）Failure by the Borrower to pay, in accordance with the terms of this Agreement or the Note, the principal of or interest accrued on the Loan or the Note, or any other amounts payable hereunder, when the same becomes due and payable in accordance with the terms hereof（whether at maturity, by notice of internation to prepay or otherwise）;
（b）Failure by the Borrower to perform or observe any other term, covenant or agreement contained herein or in the note;
（c）Any representation or warranty made by the Borrower herein or any statement or representation made in any certificate, report or opinion delivered pursuant hereto shall approved to have been incorrect or misleading in any material respect when made;
（d）Any registration or governmental consent or approval granted or required in connection with this Agreement, the Note or the Guaranty expires or is terminated or revoked or is modified in any manner or fails to remain in full force and effect;
（e）It becomes unlawful for the Borrower or the Guarantor to perform any of its obligations hereunder or under the Note or the Guaranty, as the case may be, or any other document contemplated hereby or referred to herein;
（f）The Guarantor shall renounce or modify its obligations under the Guaranty;
（g）The Borrower or the Guarantor shall fail to pay at maturity, or within any applicable period of grace, any Indebtedness; or fail to observe or perform any term, covenant or agreement contained in any agreement by which it is bound evidencing or securing Indebtedness; if the effect of such failure is to accelerate, or to permit (assuming the giving of notice or lapse of time or both, if required) the holder or holders thereof or of any obligations issued thereunder to accelerate, the maturity thereof or of any such obligations, whether or not such acceleration occur or such default shall be waived;