Common use of Guarantee Liability Clause in Contracts

Guarantee Liability. 2.1 Guarantee under this Contract is joint-liability guarantee. 2.2 The scope of guarantee includes principal and interest thereof, compound interest, penalty interest, liquidated damage, compensation for damage and expenses for enforcement of credit right under the Principal Contract. The expenses caused in enforcement of credit right includes but not limited expense to press for payment, litigation fee (or arbitration fee), conservation fee, publication fee, enforcement fee, lawyer fee, travel expense and other expenses. 2.3 The guarantee period is two years from the date when the debt is mature. If the Principal Contract provides that the Debtor may pay its debt by installments, the guarantee period shall commence from the date when each installment's debt paying deadline expires until two years after the date when the last installment's debt paying deadline expires. The date of maturity of the debt under issuance of bank acceptance, letter of credit or security bond shall be the date when the creditor makes advance disbursement. If the Creditor declares earlier expiry of all debt under the Principal Contract, such earlier expiry date declared shall be the date when the debt paying deadline expiries. 2.4 In accordance with provisions of Article five of Security Law of People's Republic of China, both parties of this Contract specifically agree that: the effect of this Contract shall be independent from that of the Principal Contract; the nullification of the Principal Contract or relevant provisions thereof may not affect the effect of this Contract. The Guarantor shall bear joint liability for returning liability or compensation liability to be born by the Debtor after the Principal Contract is invalid.

Guarantee Liability. 2.1 Guarantee The guarantee under this Contract is joint-liability guarantee. 2.2 The scope of guarantee includes principal and interest thereofinterest, compound interest, penalty interest, liquidated damage, compensation for damage and expenses for enforcement of credit right claims under the Principal Contract. The expenses caused in enforcement of credit right claims includes but not limited expense to press for payment, litigation fee (or arbitration fee), conservation fee, publication fee, enforcement fee, lawyer fee, travel expense and other expenses. 2.3 The guarantee period is two years shall be counted separately based on debt paying deadline agreed in each Credit Use Application under the Principal Contract. The guarantee period under each Credit Use Application shall commence from the date when the debt is maturepaying deadline agreed in such Credit Use Application expires until two years after the debt paying deadline agreed in the last Credit Use Application under the Principal Contract expires. . If any Credit Use Application under the Principal Contract provides that the Debtor may pay its debt by installments, the guarantee period of such debt shall commence from the date when each installment's debt paying deadline expires until two years after the date when the last installment's debt paying deadline expires. The date of maturity of the debt under issuance of bank acceptance, letter of credit or security bond shall be the date when the creditor makes advance disbursement. If the Creditor declares earlier expiry of all debt under the Principal Contract, such earlier expiry date declared shall be the date when the debt paying deadline expiries. 2.4 In accordance with provisions of Article five of Security Law of People's Republic of China, both parties of this Contract specifically agree that: the effect of this Contract shall be independent from that of the Principal Contract; the nullification of the Principal Contract or relevant provisions thereof may not affect the effect of this Contract. The Guarantor shall bear joint liability for returning liability or compensation liability to be born by the Debtor after the Principal Contract is invalid.