合资合同范本

精品文档精心整理精品文档可编辑的精品文档精品文档精心整理精品文档可编辑的精品文档DraftJOINTVENTURECONTRACTfor[INVESTMENTINANDOPERATIONOFPARTYC]between[]and[]

TABLEOFCONTENTSPagecHAPTER1 DEFINITIONS 1CHAPTER2 Establishmentandlegalformofthejointenture 3CHAPTER3 Partiestothecontract 5CHAPTER4 purpose,scopEandscale 6cHAPTER5 totalinvestment,registeredcapitalandits transfer 6CHAPTER6 Financingofthejointventure 11cHAPTER7 RESPONSIBILITIESOFTHEPARTIES 11CHAPTER8: Trademarks 13CHAPTER9: BOARDOFDIRECTORS 13CHAPTER10 operationandmanagementofthejointventure 21CHAPTER11 annualbusinessplan 25CHAPTER12 LABORMANAGEMENT 26CHAPTER13 profitdistribution,ACCOUNTINGandaudit 28CHAPTER14 taxationandinsurance 31CHAPTER15 confidentiality 32CHAPTER16 non-competition 32CHAPTER17 termofjointventure,earlyTERMINATIONAND LIQUIDATION 33CHAPTER18 breachofcontract 36CHAPTER19 forcemajeure 36CHAPTER20 settlementofdisputes 37CHAPTER21 APPLICABLELAW 38CHAPTER22 representationsandwarranties 38CHAPTER23 MISCELLANEOUS 39APPENDIX1 ARTICLESOFASSOCIATIONOFTHEJOINTVENTUREAPPENDIX2 REGISTEREDTRADEMARKS THISJOINTVENTURECONTRACT(“Contract”)isenteredon[],2004,in[]between:[],anenterpriselegalpersonestablishedandexistingunderthelawsofthePeople’sRepublicofChinawithitslegaladdressat[](“PartyA”);and[],alegalpersonestablishedandexistingunderthelawsof[]withitslegaladdressat[](“PartyB”);PartyAandPartyBmaybecollectivelyreferredtoasthe“Parties”orthe“Shareholders”andindividuallyasa“Party”ora“Shareholder”.RECITALInaccordancewiththelawsandregulationsofthePeople’sRepublicofChina,theEquitySaleandSubscriptionAgreement(asdefinedbelow)dated[],2004amongPartyA,PartyBand[]PAGE\#"'Page:'#'

'"TentativeEnglishname.("PartyC”),alimitedliabilitycompanyestablishedandexistingunderthelawsofthePeople’sRepublicofChina)andthisContract,andfollowingfriendlyconsultations,thePartieshaveagreedtoreorganizePartyCintoaSino-foreignequityjointventurejointlyownedbytheShareholders(the“JointVenture”)inwhichPartyAshallhave[]oftheequityinterestsandPartyBshallhave[PAGE\#"'Page:'#'

'"TentativeEnglishname.ThePartieshaveherebyagreedasfollows:cHAPTER1 DEFINITIONSUnlessotherwiseprovidedherein,thefollowingtermswhenusedhereinshallhavethefollowingmeanings:“Affiliate”,inrelationtoaParty,meansanentitythatdirectlyorindirectlycontrols,oriscontrolledby,orisundercommoncontrolwith,thatParty.Forthepurposeofthisdefinition,“control”meanstheownership,directlyorindirectly,of50%ormoreofthevotingshares,registeredcapitalorotherinterestsinsuchentity,orthepossession,directlyorindirectly,ofthepowertoappointamajorityofthemembersofthemanagement,managementcommitteeorboardofdirectorsorsimilardecision-makingbodyofsuchentity,whetherthroughtheownershipofvotingshares,bycontractorotherwise.“Appendix”meansanyappendixofthisContractPAGE\#"'Page:'#'

'"“Agreement”intheChineseoriginal,asisthecaseinmanyotherplaces.PAGE\#"'Page:'#'

'"“Agreement”intheChineseoriginal,asisthecaseinmanyotherplaces.“ArticlesofAssociation”meansthearticlesofassociationoftheJointVenture,attachedheretoasAppendix1.“PartyC”means[],beforeitsreorganizationintotheJointVenture,alimitedliabilitycompanyestablishedandexistingunderthelawsofthePeople’sRepublicofChina.“Board”meanstheboardofdirectorsoftheJointVenture.“BusinessLicence”meanstheamendedenterpriselegalpersonbusinesslicenceissuedtotheJointVenturebytheIndustryandCommerceAdministration.“Approval”meanstheapprovalreplyissuedtotheJointVenturebythecompetentAuthorityofthegovernmentapprovingthechangeofPartyCintoaSino-foreignequityjointventureenterprise.“China”meansthePeople’sRepublicofChina.ForthepurposesofthisContractonly,“China”referstothepartsofChinaotherthanHongKong,MacaoandTaiwan.“EstablishmentoftheJointVenture”meansthechangeofPartyCasawhollystate-ownedlimitedliabilitycompanyintoaSino-foreignequityjointventureenterpriseinaccordancewiththerelevantlawsandregulations,theapprovaloftheAuthority,theEquitySaleandSubscriptionAgreementandthisContract.“ChangeDate”meansthedateonwhichPartyCreceivesfromtheindustryandcommerceregistrationauthorityitsenterpriselegalpersonbusinesslicencethatchangesitintotheJointVenture.“ConfidentialInformation”includes(a)allinformationofaconfidentialnaturedisclosed,directlyorindirectly,byaParty(the“DisclosingParty”)toanotherParty(the“ReceivingParty”)inwritten,oraloranyotherform,orbytheCompanytoanyParty(includingitsAffiliates)insuchforms,beforeorafterthedateofthisContract,includinganyinformationconcerningtheorganization,operation,technicalprocesses,plansorideas,products,know-how,intellectualproperties,designrights,tradesecrets,marketopportunitiesorbusinessaffairsoftheDisclosingPartyortheCompany;and(b)thenegotiationsandconsultationsbetweenthePartiesinconnectionwiththetransactioncontemplatedintheEquitySaleandSubscriptionAgreementandthisContractandtheexistenceanddetailsofsuchagreements.“ForceMajeure”meansalleventswhichcannotbecontrolledorforeseen,orevenifforeseeable,cannotbeavoidedbythePartiesandwhichpreventthetotalorpartialperformancebyanyParty,includingwithoutlimitationanyactofGod,sabotage,accident,industrialstrike,war,unavailabilityofmeansoftransport,governmentactandothersimilarunexpectedevents.“JointVenture”meanstheSino-foreignequityjointventureenterpriseresultingfromthechangeofPartyCinaccordancewiththelawsandregulationsofChinaandthisContract,whichhasbeenestablishedwiththeapprovalofthecompetentAuthorityofthegovernmentandtowhichtheIndustryandCommerceAdministrationhasissuedabusinesslicence.“JointVentureEquity”meansthe[]equityinterestsownedbyPartyAandthe[]equityinterestsownedbyPartyBintheJointVenture,asadjustedfromtimetotimeaccordingtothechangeoftheregisteredcapitaloftheJointVenture.“SeniorOfficers”meanstheGeneralManager,DeputyGeneralManagers,ChiefFinancialOfficer,ChiefAccountantandotheremployeesoftheCompanysodesignatedbytheBoard,exceptotherwiseprovidedherein.“Officers”meanstheSeniorOfficersandotheremployeesoftheCompanysodesignatedbytheBoard.“Authority”meansallgovernmentdepartmentsofChinahavingtheauthoritytoapprovethetransactionsrelatingtotheEstablishmentoftheJointVenture,includingwithoutlimitationtheforeigninvestmentadministrationauthority.“RMB”means,Renminbi,thelegalcurrencyofChina.“IndustryandCommerceAdministration”meanstheStateAdministrationforIndustryandCommerceoritsauthorizedbranches.“EquitySaleandSubscriptionAgreement”meanstheagreementdated[]amongPartyA,PartyBandPartyCforthesaleandpurchaseofandthesubscriptionfortheequityinterestsinPartyC.“WorkingDay”meansanyweekdayfromMondaytoFriday,excludinganylegalholidayspecifiedbythegovernmentsofChinaand[].InthisContract:areferenceto“subsidiary”shallbeinterpretedasareferencetoanentitythatiscontrolledbyanotherentitythroughtheownershipofsharesorequityinterestsorthroughotherarrangements.Theterm“control”meansthepossessionofthepowertodirecttheaffairsofsuchentitythroughtheownershipof50%ormoreofthevotingsharesorotherequityinterestsinsuchentityor,althoughwithoutsuchvotingshares,throughthevotingrightsandothermeans,orbycontractorotherwise;areferenceto“controllingcompany”shallbesointerpretedthatwhenanentityisasubsidiaryofanotherentity,suchanotherentityshallbedeemeditscontrollingcompany;areferenceto“entity”shallincludeanyindividual,firm,companyoranyjointventure,consortiumorpartnershipconsistingintwoormoreoftheprecedingentities(whetherwithorwithoutindependentlegalpersonstatus);areferencetoanyclause,paragraphandAppendixshallbeareferencetotherelevantclause,paragraphandAppendixofthisContract,unlessotherwiseprovided;areferencetoanytimeofthedayshallmeanBeijingtime;andtheheadingshereinshallnotaffecttheconstructionofthisContract.CHAPTER2 EstablishmentandlegalformofthejointventureEstablishmentTheJointVentureshallbeestablishedonthedateonwhichtheindustryandcommerceregistrationauthorityissuesanenterpriselegalpersonbusinesslicenceinwhichitischangedintoaSino-foreignequityjointventureenterprise.ThePartiesshallbejointlyresponsiblefortakingallactionsnecessaryfortheJointVenture.AftersigningthisContract,thePartiesshallpromptlysubmitthisContract,theArticlesofAssociation,theEquitySaleandSubscriptionAgreementandanyotherrequireddocumenttotheAuthorityforexaminationandapproval.ThePartiesshallinformeachotherofthestatusoftheexaminationandapprovalwithinareasonabletimeand,unlessotherwiserestrictedbytheapplicablelawsandregulationsofChina,promptlyfaxtotheotherPartyanycommunicationreceivedfromtheAuthority(includingtheapprovalreplyandapprovalcertificate).WithinonemonthofobtainingtheapprovalofsuchAuthority,thePartiesshallassoonaspossibletakeactiontocausetheJointVenturetocompletetheregistrationoftheJointVentureinaccordancewiththeapplicablejointventurelawsandregulationsandotherrelevantlawsandregulationsofChina.ThePartiesshallkeepeachotherreasonablyinformedoftheprogressandtherelevantevidence(ifany).UnlessotherwiseagreedbytheParties,ifapaymentisrequiredtobemadetoathirdpartyintheperformanceofanyobligationunderClauses7.1and7.2,thePartyrequiredtomakethepaymentshallfirstmakesuchpaymentonbehalfoftheCompanyandthenreceivereimbursementfromthefundsoftheJointVentureaftertheChangeDate,providedhoweverthatthePartyrequiredtomakeanypaymentisabletoprovideareceiptforsuchpaymentandthatsuchpaymentisofareasonableamountandhasbeenapprovedbytheCompanyPAGE\#"'Page:'#'

'"ThisisanotherreferencetotheJointVenture,butisnotdefined.PAGE\#"'Page:'#'

'"ThisisanotherreferencetotheJointVenture,butisnotdefined.Name,AddressandBranchoftheJointVentureTheChinesenameoftheJointVentureshallbe:[]inChinese,and[________________]inEnglish.TheaddressoftheJointVentureshallbe:[],China.SubjecttotheconsentoftheBoardandtheapprovaloftheAuthority,theJointVenturemayestablishbranchesinChinainaccordancewiththeneedsofitsbusiness.LegalFormTheformoftheJointVentureshallbealimitedliabilitycompany.UnlessotherwiseprovidedhereinorrequiredbyaresolutionoftheBoard,aPartyshallnotberequiredtoprovidefurtherfundstotheJointVentureortoathirdpartyonbehalfoftheJointVentureintheformofcapitalcontribution,loan,advanceorguaranteeorinotherformsonceithaspaiditscapitalcontributiontotheregisteredcapitaloftheJointVenture.ThePartiesshallbeliableforthelossesanddebtsoftheJointVentureonlytotheextentoftheirrespectivecapitalcontributions.ThecreditorsoftheJointVentureshallhaverecourseonlytotheassetsoftheJointVentureand,unlessanyPartyhasprovidedaguaranteetothecreditorsinrespectofthedebtsoftheJointVenture,shallnotrequireanyPartytoassumeadditionalliabilityforthedebtsoftheJointVenture.ThePartiesshallsharetheprofitsandlossesoftheJointVentureinaccordancewiththeirrespectivepaidcapitalcontributionstotheJointVenture.TheJointVentureshallbeanindependentlegalpersonasprovidedunderthelawsandregulationsofChina.TheactivitiesoftheJointVentureshallbegovernedandprotectedbytherelevantlawsandregulationsofChina.ThebusinessoftheJointVentureshallbecontrolledbytheBoardatalltimes.UnlessexpresslydelegatedorauthorizedbytheBoard,neitherPartyshallengageinanytransactionorcarryonanyotheractivitiesonbehalfoftheJointVenture.TheJointVentureshallcomplywithallapplicablelawsatalltimes.DuringtheperiodbetweenthedateofthisContractandtheChangeDate,PartyAshallcausePartyCanditsAffiliatestoconducttheirbusinessasitwasgenerally,dulyandcustomarilyconductedbeforetheconclusionofthisContract.CHAPTER3 PartiestothecontractThePartiestothisContractshallbe[],establishedinaccordancewiththelawsandregulationsofChina,withitsregisteredaddressat[].ThelegalrepresentativeofPartyA:Name: Position: Nationality:[]ThelegalrepresentativeofPartyB:Name: []Position:[] Nationality:[]ChangeofRepresentativeEachPartyshallhavetherighttochangeitslegalrepresentativeorauthorizedrepresentative(asthecasemaybe).Intheeventofsuchchange,theotherPartyshallbepromptlynotifiedofthename,positionandnationalityofthenewrepresentative.CHAPTER4 purpose,scopEandscalePurposeoftheJointVentureTodiversifytheinvestmentsoftheCompany,andultimatelyprivatizethecapitalandinternationalizethebusinessoftheCompany;tostrengthentheabilityoftheCompanytocompeteintheinternationalmarket;toenlargeitsshareandboostitsstrengthintheconstructionmachineryindustry;toestablish“”asaninternationally-knownbrandname;toestablishapermanentconstructionmachinerybasein[];andtoprovideanabove-averagereturntotheShareholders.BusinessScopeoftheJointVenture[]BusinessScaleofoftheJointVenture[]cHAPTER5 totalinvestmentandregisteredcapitalanditstransferTotalInvestmentThetotalinvestmentoftheJointVentureshallbeRMB[]million(“TotalInvestment”).RegisteredCapitalandFinancingTheregisteredcapitaloftheJointVentureshallbeRMB[]million(“RegisteredCapital”).ContributiontotheRegisteredCapitalupontheEstablishmentoftheJointVentureThePartiesshallcontributetotheRegisteredCapitalinthefollowingmanner:ThecontributiontotheRegisteredCapitaloftheJointVenturebyPartyAshallbeRMB[],representing[]oftheRegisteredCapital.PartyAhascompleted(willcomplete?)theabovecontributiontotheRegisteredCapitalpriortothechangeofPartyCintoanequityjointventure.ThecontributiontotheRegisteredCapitaloftheJointVenturebyPartyBshallbetheUSDollar/HongKongDollarequivalentofRMB[],representing[]oftheRegisteredCapital.PartyBshallcompleteitscontributiontotheRegisteredCapitaloftheJointVentureinsuchmannerandtimeasprovidedintheEquitySaleandSubscriptionAgreement.CapitalVerificationandCertificateofCapitalContributionAfterPartyBhascompleteditscontributiontotheRegisteredCapitalinaccordancewithClause5.3.2hereof,thecapitalcontributionsofPartyAandPartyBshallbeverifiedandacapitalverificationreportshallbeissuedbyalegalcapitalverificationinstitution.ThelegalcapitalverificationinstitutionshallverifytherelevantcapitalcontributionsandissueacapitalverificationreportattheexpensesoftheJointVenture.Thereafter,assoonasitreceivessuchcapitalverificationreport,theJointVentureshallissuetoPartyAandPartyBcertificatesofcapitalcontributionwhichshallbesignedbytheChairmanoftheBoardandaffixedwiththesealoftheJointVenture.TheJointVentureshallkeepafileofthecopiesofallcapitalverificationreportsandallcertificatesofcapitalcontributionissuedtotheParties.ExpensesandCapitalContributionFortheavoidanceofdoubt,thePartiesexpresslyagreethattheobligationofaPartytocontributetotheRegisteredCapitaloftheJointVentureshallbereducedinanywaybyvirtueofitsincurranceofexpensesforthebenefitsoftheJointVenture.IncreaseoftheRegisteredCapitalAnychangeintheRegisteredCapitaloftheJointVenturemustbeapprovedunanimouslybythedirectorspresentinpersonorbyproxyinavalidlyconvenedmeetingoftheBoardandshallbesubmittedtotheAuthorityforapproval(ifrequiredbylaw).UponreceiptoftheapprovaloftheAuthority,theJointVentureshallregisterthechangeinregisteredcapitalwiththeIndustryandCommerceAdministration.Subjecttotheprecedingclause,iftheBoardresolvestoapproveanincreaseintheRegisteredCapital,eachPartyshallhavetherighttosubscribefortheadditionalRegisteredCapitalinproportiontoitsequityinterestsintheJointVentureor,withtheconsentoftheotherParty,inaproportionagreedtobytheParties.EachPartymaywaiveitsrighttosubscribeforsuchadditionalRegisteredCapital.IfanyPartywaivesinwholeorinpartitsrighttosubscribeforsuchadditionalRegisteredCapital,theotherPartyshallhavetherighttosubscribewiththesameconditionsfortheadditionalRegisteredCapitalundersuchwaiver.IftheRegisteredCapitalisincreasedasaresultofacapitalcontributiontotheJointVenturebyathirdpartyotherthananexistingShareholder,suchthirdpartyshallsubscribeforsuchadditionalRegisteredCapitalatsuchpriceasagreedtobytheexistingShareholders.RestrictionontheJointVentureEquityWithoutpriorwrittenconsentoftheotherParty,aPartyshallnot:pledge,mortgageorotherwisecreateanysecurityinterestover(against?in?)theJointVentureEquity;granttoanythirdpartyanypurchaseoptionwithrespecttotheJointVentureEquity;enterintoanyagreementwithanythirdpartyinrespectofthevotingrightsoftheJointVentureEquity;orcreateotherthird-partyinterestsovertheJointVentureEquity.TransferoftheRegisteredCapitalExceptasotherwiseprovidedherein,noPartymaytransfer,sellorotherwisedisposeof(“Transfer”)alloranyportionofitsequityinterestsintheRegisteredCapitaloftheJointVenturewithinfive(5)yearsoftheChangeDate(Thisfive-yeartimeperiodwillbereferredtoasthe“HoldingPeriod”)withouttheexpresspriorwrittenconsentoftheotherParty,exceptthateitherPartymaytransfertheequityinterestsheldbyitintheJointVenturetothepublicinamutuallyagreedinitialpublicofferingoftheJointVenture.TransfertoAffiliateSubjecttothetermsofthisContract,theprovisionsofChapter5on(T?)transfershallnotapplytoanyTransferbyaPartytoitsAffiliates.Insuchcircumstances,theotherPartyshallagreeandcausethedirectorsappointedbyittotheBoardtoapprovesuchTransfer;butifrequiredbytheotherPartyinwriting,thetransferringPartyshall,asaconditiontotheTransfer,issueabindingwrittenguaranteereasonablysatisfactorytotheotherPartytoguaranteetheperformancebythetransfereeofitsobligationsunderthisContract.AnyTransferunderthisContractshallbereportedtotheAuthorityforapprovaltotheextentitisrequiredunderthelawsandregulationsofChina.Uponreceivingsuchapproval,theJointVentureshallregisterthechangeinownershipwiththeIndustryandCommerceAdministration.IfPartyAtransferstheJointVentureEquityheldbyittotheemployeesoftheformerPartyCoritssubsidiariesortoitsdesignatedentities,theprovisionsofthisclauseontheTransferofequityinterestsbyPartyAtoitsAffiliatesshallbeapplicable.TransfertoThirdPartyUpontheendoftheHoldingPeriod,ifaParty(“DisposingParty”)isdesirousofsellingortransferringalloraportionofitsequityinterestsintheRegisteredCapitaloftheJointVenture,itmaysolicitoffersfromthirdparties.Uponreceivinganacceptableoffer,theDisposingPartyshallgivetheotherParty(“OtherParty”)writtennotice(“DisposalNotice”)stating:thename,businessandfinancialconditionsofthethirdparty,thepercentageoftheJointVentureEquitytobetransferredbytheDisposingPartyandthepriceoftheTransfer;thetermsandconditionsoftheproposedTransfer;andthenatureofthebusinessofthethirdparty.TheOtherPartyshallhavetherightoffirstoffertopurchasesuchequityinterestsintheRegisteredCapitaloftheJointVentureuponsuchtermsandconditions,includingthepurchaseprice,assetoutbytheDisposingPartyintheDisposalNotice.IftheOtherPartyfailstoexercisesuchrightoffirstofferwithinninety(90)calendardaysafterreceiptoftheDisposalNotice,theDisposingPartymay,withinonehundredtwenty(120)calendardaysoftheendofsuchninety-dayperiod,sellsuchequityinterestsintheRegisteredCapitaloftheJointVenturetoathirdpartyupontermsandconditionsnotmorefavorablethanthoseofferedtotheOtherParty.IfanytermsandconditionsintheDisposalNoticeischanged,theDisposingPartyshallperformtheproceduressetforthinthisclause.IftheDisposingPartytransferstheJointVentureEquityheldbyittoathirdpartyinaccordancewithClause5.11,theOtherPartyshallhavetheright(butnottheobligation)torequirethethirdpartytopurchasefromtheOtherPartyapercentageoftheJointVentureEquityheldbytheOtherPartyequaltothepercentagetobepurchasedfromtheDisposingParty.TransferPriceIfrequiredbythelawsapplicableattherelevanttime,theDisposingPartyshall,priortogivingtheDisposalNotice,individuallyengageaqualifiedvaluationinstitutiontoconductanevaluationofthevalueoftheJointVentureandissueanassetevaluationreport,andhavesuchassetevaluationreportverifiedorfiledbytherelevantstateassetadministrativeauthority.ThetransferpricesetforthintheDisposalNoticeunderClause5.11.1aboveshallnotbelowertheevaluationpricestatedinsuchassetevaluationreportandconfirmedbytherelevantstateassetadministrativeauthority.WhenaPartytransfersanyofitsequityinterestsintheRegisteredCapitaloftheJointVenturetoathirdparty,ifsuchthirdpartyisincompetitionwithanymainbusinessoftheJointVenture,orifsuchthirdpartydoesnotagreetobeboundbythetermsofthisContractincludingtherestrictiononanysubsequenttransferbythethirdparty,orifsuchthirdpartycannotprovidesatisfactoryevidenceofitsabilitytoperformallofitsobligationsunderthisContractortheArticlesofAssociationoftheJointVenture,theotherPartyhasreasonablegroundstodisagreewithsuchtransfer.Insuchcircumstances,thetransferingPartyshallnottransferanyofitsequityinterestsintheRegisteredCapitaloftheJointVenturetosuchthirdparty.ProceduresApplicabletoAllTransfersandSalesUponthefulfilmentofthetermsandconditionssetoutinthisChapter5,thePartiesshallcausethedirectorsappointedbyeachofthemtotheBoardtoapproveanyTransferorsaleoftheequityinterestsintheRegisteredCapitalunderthisContract,andshalltake,orcausethetakingof,suchactions,mattersandthingsasrequiredtoensuretheequityinterestsintheRegisteredCapitaltobevestedintherelevantparty.TotheextentrequiredbythelawsandregulationsofChina,anysuchTransfershallbereportedtotheAuthorityforexaminationandapproval.UponreceiptoftheapprovaloftheAuthority,theJointVentureshallregisterthechangeinownershipwiththeIndustryandCommerceAdministration.UpontheTransferorassignmentbyaPartyofalloraportionofitsequityinterestsintheRegisteredCapitalwiththeapprovaloftheAuthority,thetransferingPartyshallimmediatelyreturnthecertificateofcapitalcontributionissuedtoittotheJointVentureforcancellation,andtheJointVentureshallissueoneormore(asthecasemaybe)newcertificatesofcapitalcontributiontoreplaceit.InrelationtoChapter5,upontheTransferorassignmentbyaPartyofalloraportionofitsequityinterestsintheRegisteredCapitalwiththeapprovaloftheAuthority,thePartiesshallagreeonanequitableadjustmenttothenumberofdirectorsappointedbythePartiestotheBoardinordertoreflectthenewandapprovedownershippercentagesofthePartiesunderthisContract.NotwithstandingtheaboveprovisionsinChapter5,anyTransferorsaleofequityintereststoanyindependentthirdpartyshallbesubjecttoaconditionprecedentthatthereisnobreachbytheDisposingPartyofanyprovisionsofthisContractatthetimeoftheTransferorsaleoftheJointVentureEquityheldbyitor,ifthereisabreach,theShareholdershaveagreedonthehandlingofsuchbreach.CHAPTER6 FinancingofthejointventureSourcesofFinancingTheJointVenturemayborrowfromsourcesoffinancinginsideoroutsideChinainaccordancewiththeprovisionsofthisContract.ContingentFundingAtanytimeduringthetermoftheJointVenture,iftheJointVenturecannottimelymeetitsfinancialobligationsmaturingatanytimewithinsixmonths,theBoardshallpromptly,andasamatterofemergency,convenetodeterminethemeasurestobetakentoenabletheJointVenturetotimelysolveitsfinancialdifficulty.UponaunanimousvotebytheBoard,theJointVentureshallhavetherighttorequirePartyBtoprovideadditionalfunding(“ContingentFunding”)totheextentpermittedunderthelawsofChina.cHAPTER7 RESPONSIBILITIESOFTHEPARTIESResponsibilitiesofPartyAInadditiontoitsotherobligationsunderthisContract,PartyAshallhavethefollowingresponsibilities:TogetherwithPartyB,tomakeitsbesteffortsinprocuringtheapprovalbytheAuthorityofthisContract,theArticlesofAssociationoftheJointVentureandanyothertransactiondocumentsrequiringgovernmentapproval;TomakeitsbesteffortsinobtainingtheBusinessLicencefortheJointVenture;ToappointthepersonsrecommendedbyPartyAtotheBoardoftheJointVenture;TocauseitsdirectorstoperformtheirobligationstotheJointVenture,includingabidingbytheprovisionsofthisContract;ToassisttheJointVentureinregisteringwiththerelevantPRCtaxauthorityandobtainingrecognitionandapprovalwithrespecttoallapplicabletaxanddutyreductionsandexemptions,incentivesandpreferencesavailableunderthelawsandregulationsofChina;Toassis