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DHHK 2nd Draft 2024.07.03
DHHK 2 nd 草案 2024.07.03

Dated 5 July 2024
日期为 2024 年 7 月 5 日

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.
湖州南讯旅游投资发展集团有限公司 (HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

as Issuer
作为发行人

and

HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD.
湖州南讯文化旅游发展集团有限公司 (HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

as Guarantor
作为担保人

and

CMB WING LUNG (TRUSTEE) LIMITED
招商永隆(受托人)有限公司

as Trustee
作为受托人

TRUST DEED
信托契约

relating to
相关

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027
75,000,000美元 6.5%。2027年到期的担保债券

Table of Contents
目录

ContentsPage
目录页面

1INTERPRETATION1
1 解释 1

2AMOUNT OF THE BONDS AND COVENANT TO PAY6
2 保证金金额和支付承诺 6

3FORM OF THE BONDS7
3 债券的形式 7

4STAMP DUTIES AND TAXES8
4 印花税和税收 8

5GUARANTEE9
5 保证 9

6APPLICATION OF MONEYS RECEIVED BY THE TRUSTEE9
6 受托人收取款项的用途 9

7COVENANTS10
7 盟约 10

8REMUNERATION AND INDEMNIFICATION OF THE TRUSTEE15
8 受托人的报酬和赔偿 15

9PROVISIONS SUPPLEMENTAL TO THE TRUSTEE ACT 1925 AND THE TRUSTEE ACT 200017
9 1925年《受托人法》和2000年《受托人法》的补充规定 17

10WAIVER AND PROOF OF DEFAULT32
10 弃权和违约证明 32

11TRUSTEE NOT PRECLUDED FROM ENTERING INTO CONTRACTS32
11 受托人不排除订立合同 32

12TRUSTEE’S DUTY OF CARE AND LIABILITY33
12 受托人的注意义务和责任 33

13REPRESENTATION AND UNDERTAKING33
13 代表和承诺 33

14MODIFICATION33
14 修改 33

15APPOINTMENT, RETIREMENT AND REMOVAL OF THE TRUSTEE34
15 受托人的任命、退任和罢免 34

16CURRENCY INDEMNITY35
16 货币赔偿 35

17COMMUNICATIONS36
17 通信 36

18CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 199937
18 1999年《合同(第三方权利)法》 37

19FURTHER ISSUES38
19 其他问题 38

20COUNTERPARTS38
20 对应方 38

21GOVERNING LAW AND JURISDICTION38
21 准据法和管辖权 38

Schedule 1 FORMS OF GLOBAL CERTIFICATE AND CERTIFICATE40
附表 1 全球证书和证书 40 的形式

Schedule 2 TERMS AND CONDITIONS OF THE BONDS44
附表2 债券条款及细则 44

Schedule 3 PROVISIONS FOR MEETINGS OF BONDHOLDERS45
附表3 债券持有人会议的规定 45

Schedule 4 FORM OF CERTIFICATE (TRANSLATION OF FINANCIAL STATEMENTS)53
附表4 证明形式(财务报表译本) 53

Schedule 5 FORM OF COMPLIANCE CERTIFICATE54
附表5 合格证书形式 54

Schedule 6 FORM OF CERTIFICATE CONFIRMING THE COMPLETION OF THE NDRC POST-ISSUE FILING AND THE SAFE REGISTRATION38
附表6 国家发改委发后备案完成及安全登记的证明书形式 38

Schedule 7 FORM OF PRINCIPAL SUBSIDIARIES CERTIFICATE58
附表7 主要附属公司证书表格 58

ii

THIS TRUST DEED is made on 5 July 2024
本信托契约于 2024 年 7 月 5 日签订

BETWEEN:
之间:

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南潯旅遊投資發展集團有限公司) (the “Issuer”);
HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南浔旅游投资发展集团有限公司) (the “Issuer”);

HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南潯文旅發展集團有限公司) (the “Guarantor”); and
湖州南潯文旅發展集团有限公司(「担保人」);和

CMB WING LUNG (TRUSTEE) LIMITED, a corporation incorporated and existing under the laws of Hong Kong with its principal place of business at CMB Wing Lung Bank Building, 45 Des Voeux Road Central, Hong Kong (the “Trustee”, which expression, where the context so admits, includes any other trustee for the time being of this Trust Deed).
招商永隆(受托人)有限公司,一家根据香港法律注册成立并存续的法团,其主要营业地点位于香港德辅道中45号招商永隆银行大厦(「受托人」,在上下文允许的情况下,该表述包括本信托契约的任何其他受托人)。

WHEREAS:
而:

The Issuer, incorporated in the People’s Republic of China with limited liability, has authorised the issue of U.S.$75,000,000 in aggregate principal amount of 6.5 per cent. guaranteed bonds due 2027 to be constituted by this Trust Deed and which will be guaranteed as to payment of principal, premium (if any) and interest by the Guarantor.
发行人于中华人民共和国注册成立,为有限责任,已授权发行本金总额为6.5%的75,000,000美元。2027年到期的担保债券由本信托契约构成,担保人将保证支付本金、溢价(如有)和利息。

The Guarantor has authorised the giving of the Guarantee (as defined below) in respect of the Bonds.
担保人已授权就债券提供担保(定义见下文)。

The Trustee has agreed to act as trustee of this Trust Deed on the following terms and conditions.
受托人已同意根据以下条款和条件担任本信托契约的受托人。

The parties hereto intend this document to take effect as a deed notwithstanding that the Trustee may execute it under hand only.
双方希望本文件作为契约生效,尽管受托人只能亲自签署。

THIS DEED WITNESSES AND IT IS DECLARED as follows:
该契约见证并声明如下:

INTERPRETATION
解释

Definitions
定义

The following expressions have the following meanings:
以下表达式具有以下含义:

Affiliates” means, in relation to any person, any entity controlled, directly or indirectly, by that person, any entity that controls, directly or indirectly, that person or any entity directly or indirectly under common control with that person. For this purpose, “control” of any entity or person means ownership of a majority of the voting power of the entity or person;
“关联公司”是指,就任何人而言,由该人直接或间接控制的任何实体、直接或间接控制该人的任何实体或与该人直接或间接处于共同控制之下的任何实体。就此而言,对任何实体或个人的“控制”是指拥有该实体或个人的多数表决权;

Agency Agreement” means the agency agreement referred to as such in the Conditions, and includes any other agreements approved in writing by the Trustee appointing Successor Agents or amending, varying, novating or supplementing any such agreements;
「代理协议」指本条款中提及的代理协议,包括经受托人书面批准的任何其他协议,以指定继任代理人或修订、更改、更新或补充任何此类协议;

Agents” means the Principal Paying Agent, the Registrar and the Transfer Agents, their respective Successors or any of them and shall include such other agent or agents as may be appointed from time to time under the Agency Agreement and references to Agents are to them acting solely through their specified offices;
“代理人”指主付款代理人、注册服务商和转让代理人、其各自的继承人或其中任何一方,并应包括根据代理协议不时任命的其他代理人或代理人,所提及的代理人仅指他们通过其指定的办事处行事;

Applicable Law means any law or regulation including, but not limited to: (i) any domestic or foreign statute, constitution, rule, judicial interpretation, directive (whether or not having the force of law) or regulation; (ii) any rule, custom or practice and/or the requirements of any Authority, stock exchange, clearing house or central book-entry settlement system, trading registration, central depositary system or self-regulatory organisation by which any party is bound or with which any party is accustomed to comply; (iii) any agreement between any Authorities; and (iv) any customary agreement between any Authority and any party;
“适用法律”是指任何法律或法规,包括但不限于:(i) 任何国内或国外法规、宪法、规则、司法解释、指令(无论是否具有法律效力)或法规;(ii) 任何一方受其约束或任何一方习惯于遵守的任何当局、证券交易所、结算所或中央簿记结算系统、交易登记、中央存管系统或自律组织的任何规则、习惯或惯例和/或要求;(iii) 任何主管部门之间的任何协议;以及 (iv) 任何单位与任何一方之间的任何习惯协议;

Appointee” has the meaning given to it in Clause 9.19;
“被委任人”具有第9.19条所赋予的含义;

Auditors” means the auditors for the time being of the Issuer or the Guarantor, as the case may be, or, if they are unable or unwilling to carry out any action requested of them under this Trust Deed, such other nationally recognised firm of independent accountants as may be nominated by the Issuer and notified in writing to the Trustee for the purpose;
“核数师”指发行人或担保人(视情况而定)的核数师,或者,如果他们不能或不愿执行本信托契约要求他们采取的任何行动,则指发行人可能提名并为此目的以书面形式通知受托人的其他国家认可的独立会计师事务所;

Authorised Signatory” means, in relation to the Issuer or the Guarantor, any Director or other authorised person of the Issuer or the Guarantor (as the case may be), as specified in the incumbency certificates provided by the Issuer or the Guarantor to the Trustee pursuant to Clause 16.15 of the Agency Agreement as being authorised to take action on behalf of the Issuer or the Guarantor (as the case may be) in connection with this Trust Deed, the Deed of Guarantee, the Agency Agreement and the Bonds, as such certificates may be amended or replaced from time to time;
「获授权签字人」指就发行人或担保人而言,发行人或担保人(视情况而定)的任何董事或其他获授权人(视情况而定),如发行人或担保人根据《代理协议》第16.15条向受托人提供的在职证明书中所指明的,获授权代表发行人或担保人(视情况而定)就此采取行动信托契约、担保契约、代理协议和债券,因为此类证书可能会不时修改或替换;

Authority” means any government, quasi-government, administrative, regulatory, supervisory, prosecuting, tax authority or body, court or tribunal in any jurisdiction;
“当局”是指任何司法管辖区的任何政府、准政府、行政、监管、监督、检察、税务机关或机构、法院或审裁处;

Bondholder”, “holder of the Bonds” or, in respect of a Bond, “holder” means a person in whose name a Bond is registered in the register of holders of the Bonds (or, in the case of joint holders, the first named thereof);
“债券持有人”、“债券持有人”或就债券而言,“持有人”是指债券在债券持有人名册上登记的人(或,如是联名持有人,则为债券持有人的首名);

Bonds” means the U.S.$75,000,000 in aggregate principal amount of 6.5 per cent. guaranteed bonds due 2027 of the Issuer, which expression shall include, unless the context requires otherwise, any additional Bonds issued in accordance with Condition 15 and consolidated and forming a single series therewith;
“债券”是指本金总额为75,000,000美元,利率为6.5%。发行人于2027年到期的担保债券,除非上下文另有要求,否则该表述应包括根据条件15发行并合并并形成单一系列的任何额外债券;

Business Day” means a day other than a Saturday, Sunday or a public holiday on which commercial banks and foreign exchange markets are generally open for business in Hong Kong;
「营业日」指除星期六、星期日或公众假期外,商业银行及外汇市场一般在香港营业的日子;

CMB Company means CMB Wing Lung Bank Limited, CMB Wing Lung (Trustee) Limited, or any branch or direct or indirect subsidiary thereof;
「招商银行公司」指招商永隆银行有限公司、招商永隆(受托人)有限公司或其任何分行或直接或间接附属公司;

Certificate” means a certificate representing one or more Bonds and, save as provided in the Conditions, comprising the entire holding by a Bondholder of his Bonds and, save in the case of the Global Certificate, being substantially in the form set out in Part B of Schedule 1;
「证书」指代表一种或多只债券的证书,除本条件另有规定外,该证书包括债券持有人持有的全部债券,且(全球证书除外)实质上采用附表1B部分所列的形式;

Clearstream” means Clearstream Banking S.A.;
“Clearstream”是指 Clearstream Banking S.A.;

Code” means the U.S. Internal Revenue Code of 1986, as amended;
“法典”是指经修订的 1986 年美国国内税收法典;

Common Depositarymeans, in relation to the Bonds, a depositary common to Euroclear and Clearstream;
“普通存托人”是指,就债券而言,Euroclear和Clearstream的共同存托人;

Conditions” means the terms and conditions applicable to the Bonds which shall be substantially in the form set out in Schedule 2, as modified, with respect to any Bonds represented by a Global Certificate, by the provisions of such Global Certificate and shall be endorsed on the relevant Certificate and any reference to a particularly numbered Condition shall be construed accordingly;
“条件”指适用于债券的条款和条件,这些条款和条件应实质上采用附表2中规定的格式,并经修改后,就全球证书所代表的任何债券,由该全球证书的规定修改,并应在相关证书上背书,任何对特定编号条件的引用均应据此解释;

Deed of Guarantee means the deed of guarantee dated 5 July 2024 between the Guarantor and the Trustee relating to the Bonds;
「保证契据」指担保人与受托人于2024年7月5日就债券签订的保证契据;

Directors” means, in relation to the Issuer or the Guarantor, members of the board of directors of the Issuer or, as the case may be, the Guarantor, from time to time;
「董事」指(就发行人或担保人而言)发行人的董事会成员或(视情况而定)不时的担保人;

Electronic Consent” has the meaning given to it in Schedule 3;
“电子同意”具有附表3所赋予的含义;

Electronic Means” means the following communications methods: (i) non-secure methods of transmission or communication such as e-mail and facsimile transmission and (ii) secure electronic transmission containing applicable authorisation codes, passwords and/or authentication keys issued by the Trustee or the Agents, or (iii) any other method or system specified by the Trustee as available for use in connection with its services hereunder;
“电子方式”指以下通信方法:(i) 非安全的传输或通信方法,例如电子邮件和传真传输,以及 (ii) 包含由受托人或代理人发出的适用授权代码、密码和/或身份验证密钥的安全电子传输,或 (iii) 受托人指定可用于其本协议项下服务的任何其他方法或系统;

Euroclearmeans Euroclear Bank SA/NV;
“Euroclear”是指Euroclear Bank SA/NV;

Event of Default” means an event described in Condition 9;
“违约事件”是指条件 9 中描述的事件;

Extraordinary Resolution” has the meaning set out in Schedule 3;
“特别决议案”具有附表3所列的含义;

FATCA” means:
“FATCA”是指:

Sections 1471 to 1474 of the U.S. Internal Revenue Code of 1986 or any associated regulation, instruction or other official guidance, as amended from time to time;
1986 年《美国国内税收法典》第 1471 至 1474 条或任何相关法规、指示或其他官方指南,经不时修订;

any treaty, law, regulation, instruction or other official guidance enacted or amended in any other jurisdiction, or relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of paragraph (i) above of this definition;
在任何其他司法管辖区颁布或修订的任何条约、法律、法规、指示或其他官方指南,或与美国与任何其他司法管辖区之间的政府间协议有关的任何条约、法律、法规、指示或其他官方指南,这些条约、法律、法规、指令或其他官方指南(在任何一种情况下)都有助于实施本定义的上述第(i)段;

any agreement pursuant to the implementation of paragraphs (i) or (ii) above of this definition with the U.S. Internal Revenue Service, the Government of the United States or any governmental or taxation authority in any other jurisdiction; or
根据本定义上述第(i)或(ii)段的实施,与美国国税局、美国政府或任何其他司法管辖区的任何政府或税务机关达成的任何协议;或

any treaty, law, regulation, instruction or other official guidance analogous to paragraphs (i) or (ii) of this definition enacted or amended in any other jurisdiction from time to time, and any agreement pursuant to the implementation of any such treaty, law, regulation, instruction or other official guidance with any governmental or taxation authority in any jurisdiction;
在任何其他司法管辖区不时颁布或修订的与本定义第 (i) 或 (ii) 段类似的任何条约、法律、法规、指示或其他官方指南,以及根据与任何司法管辖区的任何政府或税务机关实施任何此类条约、法律、法规、指示或其他官方指南达成的任何协议;

FATCA Withholding” means any withholding or deduction required pursuant to an agreement described in section 1471(b) of the Code, or otherwise imposed pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder, any official interpretations thereof, or any law implementing an intergovernmental approach thereto;
“FATCA预扣税”是指根据《法典》第1471(b)条所述的协议要求的任何预扣税或扣除,或根据《法典》第1471至1474条、其下的任何法规或协议、其任何官方解释或实施政府间方法的任何法律以其他方式征收的任何预扣税或扣除;

FSMA” means the Financial Services and Markets Act 2000;
“FSMA”是指《2000年金融服务和市场法》;

Global Certificate” means a Certificate substantially in the form set out in Part A of Schedule 1 representing Bonds that are registered in the name of a nominee of a Common Depositary for Euroclear, Clearstream and/or any other clearing system;
“全球证书”是指实质上采用附表1A部分所列格式的证书,代表以Euroclear、Clearstream和/或任何其他清算系统的共同存管人的名义注册的债券;

Guarantee” means the guarantee of the Guarantor given in the Deed of Guarantee, as described in Clause 5;
“担保”是指担保人在担保契约中给予的担保,如第5条所述;

Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China;
“香港”指中华人民共和国香港特别行政区;

Issue Date” means 5 July 2024;
“发行日期”指 2024 年 7 月 5 日;

No Registration Event” has the meaning set out in Condition 6(c);
“无注册活动”具有条件6(c)中规定的含义;

outstanding” means, in relation to the Bonds, all the Bonds issued except (a) those which have been redeemed in accordance with the Conditions, (b) those in respect of which the date for redemption has occurred and the redemption moneys (including the premium if any), all interest accrued on such Bonds to the date for such redemption and any interest payable under the Conditions after such date have been duly paid to the Trustee or to the Principal Paying Agent as provided in Clause 2 and remain available for payment in accordance with the Conditions, (c) those which have become void or in respect of which claims have become prescribed and (d) those which have been purchased and cancelled as provided in the Conditions, provided that for the purposes of (1) ascertaining the right to attend and vote at any meeting of the Bondholders or to participate in any Written Resolution or Electronic Consent, (2) the determination of how many Bonds are outstanding for the purposes of Conditions 10, 13 and 14 and Schedule 3, and (3) the exercise of any discretion, power or authority whether contained in this Trust Deed or provided by law, which the Trustee is required, expressly or impliedly, to exercise in or by reference to the interests of the Bondholders, those Bonds which are beneficially held by or on behalf of the Issuer, the Guarantor or any of their respective Subsidiaries (as defined in the Conditions) and not cancelled shall (unless no longer so held) be deemed not to remain outstanding;
“未偿还”指就债券而言,所有已发行的债券,但(a)已根据条件赎回的债券、(b)已发生赎回日期的债券及赎回款项(包括溢价(如有)、该等债券截至赎回日期的所有应计利息,以及在该日期之后根据条件应支付的任何利息已按时支付给受托人或第2条规定的主要付款代理人,并根据条件继续支付,(c)那些已经失效或已规定的索赔,以及(d)那些已经根据条件规定购买和取消的,但为了(1)确定出席债券持有人的任何会议和投票的权利或参与任何书面决议的权利或电子同意书,(2)就条件10、13和14以及附表3而言,确定有多少债券未偿付,以及(3)行使任何酌情权、权力或权限,无论是本信托契约中包含的还是法律规定的,受托人被要求明示或暗示地行使或参考债券持有人的利益, 由发行人、担保人或其各自的任何附属公司(定义见本条款)实益持有且未被注销的债券(除非不再持有)应被视为不继续未偿还;

Potential Event of Default” means an event or circumstance which could with the giving of notice, lapse of time, issue of a certificate and/or fulfilment of any other requirement provided for in Condition 9 become an Event of Default;
「潜在违约事件」指在发出通知、时间流逝、发出证明书及/或满足第9条所订明的任何其他要求后,可能成为违约事件的事件或情况;

PRC” means the People’s Republic of China excluding Hong Kong, the Macau Special Administrative Region of the People’s Republic of China and Taiwan;
“中华人民共和国”指中华人民共和国,不包括香港、中华人民共和国澳门特别行政区和台湾;

Principal Paying Agent” means the institution named as such in the Conditions acting through its specified office, or any Successor Principal Paying Agent;
“主付款代理”指通过其指定办事处行事的本条件中指定的机构,或任何继任主付款代理;

Registrar” means the institution named as such in the Conditions acting through its specified office, or any Successor Registrar;
“注册服务商”是指通过其指定办事处行事的本条件中指定的机构,或任何继任注册服务商;

Registration Business Day” has the meaning set out in Condition 4(g);
“注册工作日”具有条件4(g)中规定的含义;

Registration Deadline” has the meaning set out in Condition 4(g);
“注册截止日期”具有条件4(g)中规定的含义;

SAFE” means the State Administration of Foreign Exchange;
“外管局”是指国家外汇管理局;

specified office” means, in relation to an Agent, the office identified with its name at the end of the Conditions or any other office notified to the Trustee pursuant to Clause 18.4 of the Agency Agreement and notified to the Bondholders pursuant to Clause 7.9;
“指定办事处”指,就代理人而言,在条件末尾注明其名称的办事处,或根据代理协议第18.4条通知受托人并根据第7.9条通知债券持有人的任何其他办事处;

Subsidiary” has the meaning set out in Condition 6;
“子公司”具有条件 6 中规定的含义;

Successor” means, in relation to the Agents, such other or further person as may from time to time be appointed by the Issuer and the Guarantor as an Agent with the written approval of, and on terms (other than as to remuneration) approved in writing by, the Trustee and notice of whose appointment is given to Bondholders pursuant to Clause 7.9;
“继任者”指就代理人而言,发行人及担保人经受托人书面批准及按受托人书面批准的条款(薪酬除外)及根据第7.9条向债券持有人发出委任通知后,不时委任为代理人的其他人士或更多人士;

Tax” or “Taxes” means any present or future taxes, duties, assessments or governmental charges of whatever nature (including but not limited to any value added, sales, goods and services, stamp, issue, registration, documentary or other taxes or duties) and deductions, withholdings and other liabilities related thereto, imposed, levied, collected, withheld, deducted or assessed by or on behalf of any Authority having power to tax, and “Taxation” shall be construed accordingly;
“税款”或“税款”是指任何有权征税的当局或代表其征收、征收、征收、代扣、扣除或评估的任何当前或未来的任何性质的税款、关税、评估或政府费用(包括但不限于任何增值税、销售、商品和服务、印花税、发行税、登记税、文件税或其他税项或关税)以及扣除、预扣税和其他与之相关的债务, “税收”应据此解释;

this Trust Deed” means this Trust Deed (as from time to time amended, restated, replaced and/or supplemented in accordance with this Trust Deed) and any other document executed in accordance with this Trust Deed (as from time to time so amended, restated, replaced and/or supplemented) and expressed to be supplemental to this Trust Deed;
“本信托契约”指本信托契约(根据本信托契约不时修订、重述、替换和/或补充)和根据本信托契约执行的任何其他文件(不时如此修订、重述、替换和/或补充)并表示为补充本信托契约;

Transfer Agents” means the Transfer Agents appointed as such from time to time under the Agency Agreement, or any Successor Transfer Agent;
“过户代理”是指根据代理协议不时任命的过户代理,或任何继任过户代理;

trust corporation” means a trust corporation (as defined in the Law of Property Act 1925) or a corporation entitled to act as a trustee pursuant to applicable laws relating to trustees; and
“信托公司”是指信托公司(定义见《1925年财产法》)或根据与受托人有关的适用法律有权担任受托人的公司;和

Written Resolution” has the meaning given to it in Schedule 3.
“书面决议”具有附表3所赋予的含义。

Construction of Certain References
某些参考文献的构造

References to:
参考资料:

costs, charges, fees, indemnity payments, remuneration or expenses include any Tax charged in respect thereof;
成本、收费、费用、赔偿金、报酬或开支包括就此收取的任何税款;

US dollars”, “U.S. dollars”, “U.S.$” and “US$” are to the lawful currency for the time being of the United States of America; and
“美元”、“美元”、“美元”和“美元”为美利坚合众国目前的法定货币;和

an action, remedy or method of judicial proceedings for the enforcement of creditors’ rights includes references to the action, remedy or method of judicial proceedings in jurisdictions other than Hong Kong as shall most nearly approximate thereto.
为强制执行债权人权利而采取的诉讼、补救措施或司法程序方法,包括提及在香港以外的司法管辖区进行的诉讼、补救措施或司法程序方法,而该方法应最接近香港。

Headings
标题

Headings shall be ignored in construing this Trust Deed.
在解释本信托契约时,应忽略标题。

Schedules
附表

The Schedules are part of this Trust Deed and have effect accordingly.
附表是本信托契约的一部分,并具有相应的效力。

Clauses

References in this Trust Deed to Clauses are to clauses in this Trust Deed unless otherwise stated.
除非另有说明,否则本信托契约中对条款的引用均指本信托契约中的条款。

Alternative Clearing System
替代清算系统

References in this Trust Deed to the Euroclear and Clearstream shall, wherever the context so permits, be deemed to include reference to any additional or alternative clearing system (an “Alternative Clearing System”) selected by the Issuer and approved by the Trustee, the Principal Paying Agent and the Registrar.
在上下文允许的情况下,本信托契约中对Euroclear和Clearstream的引用应被视为包括对发行人选择并经受托人、主付款代理人和注册商批准的任何额外或替代清算系统(“替代清算系统”)的引用。

The Conditions
条件

In this Trust Deed, unless the context requires or the same are otherwise defined, words and expressions defined in the Conditions and not otherwise defined herein shall have the same meaning in this Trust Deed.
在本信托契约中,除非上下文要求或另有定义,否则本条件中定义的和此处未另行定义的词语和表达在本信托契约中应具有相同的含义。

Amended Documents
修改文件

Save where the contrary is indicated, any reference in this Trust Deed to this Trust Deed or any other agreement or document shall be construed as a reference to this Trust Deed or such other agreement or document as the same may have been, or may from time to time be, amended, varied, novated or supplemented.
除非另有说明,否则本信托契约中对本信托契约或任何其他协议或文件的任何引用均应解释为对本信托契约或可能已或可能不时被修改、更改、更新或补充的其他协议或文件的引用。

Legislation
立法

All references in this Trust Deed to a statute or statutory provision includes any subordinate legislation and are references to that statute or provision as from time to time amended, modified, re-enacted or consolidated.
本信托契约中对法规或法定条款的所有引用均包括任何从属立法,并且是对不时修订、修改、重新制定或合并的该法规或条款的引用。

AMOUNT OF THE BONDS AND COVENANT TO PAY
债券金额和要支付的契约

Amount of the Bonds
债券金额

Subject to Condition 15, the aggregate principal amount of the Bonds is limited to U.S.$75,000,000.
根据条件15,债券的本金总额限于75,000,000美元。

Covenant to Pay
付款承诺

The Issuer will, failing whom the Guarantor, on any date when any Bonds become due to be redeemed in accordance with the Conditions unconditionally pay, or cause to be paid, to or to the order of the Trustee in U.S. dollars in immediately available and cleared funds the principal amount of the Bonds becoming due for redemption on that date together with any applicable premium and will (subject to the Conditions) until such payment (both before and after judgment) unconditionally pay to or to the order of the Trustee interest on the principal amount of the Bonds outstanding as set out in the Conditions, provided that:
发行人(担保人)将在任何债券根据条件到期赎回的任何日期,以美元立即可用和清算的资金无条件地向受托人支付或促使受托人支付该日到期赎回的债券本金,以及任何适用的溢价,并将(受条件约束)直至支付该等付款(两者)在判决前和判决后)无条件地向受托人支付或按受托人的命令支付条件中规定的未偿债券本金的利息,前提是:

subject to the provisions of Clause 2.4, payment of any sum due in respect of the Bonds made to the Principal Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Bondholders under the Conditions; and
根据第2.4条的规定,根据代理协议的规定向主付款代理人支付的债券的任何应付款项,应在该范围内履行该义务,除非其后续未能根据条件向相关债券持有人付款;和

a payment made after the due date or pursuant to Condition 9 will be deemed to have been made when the full amount due (including interest accrued, if any) has been received by the Principal Paying Agent or the Trustee and notice to that effect has been given to the Bondholders (if required under Clause 7.8), except to the extent that there is failure in its subsequent payment to the relevant Bondholders under the Conditions.
在到期日之后或根据第9条支付的款项,当主要付款代理人或受托人已收到全部到期金额(包括应计利息,如有)并已向债券持有人发出通知时,将被视为已支付(如果第7.8条要求), 除非其后续未能根据条件向相关债券持有人付款。

The Trustee will hold the benefit of this covenant on trust for itself and the Bondholders.
受托人将为自己和债券持有人以信托方式持有本契约的利益。

Discharge
放电

Subject to Clause 2.4, any payment to be made in respect of the Bonds by the Issuer, the Guarantor or the Trustee may be made as provided in the Conditions and any payment so made will (subject to Clause 2.4) to that extent be a good and complete discharge to the Issuer, the Guarantor or the Trustee, as the case may be.
除第2.4条另有规定外,发行人、担保人或受托人可按本条款的规定就债券支付的任何款项,而所支付的任何款项(受第2.4条的约束)将(受第2.4条的约束)在该范围内对发行人、担保人或受托人的良好和完全解除, 视情况而定。

Payment after a Default
违约后付款

At any time after an Event of Default or a Potential Event of Default has occurred the Trustee may:
在违约事件或潜在违约事件发生后的任何时候,受托人可以:

by notice in writing to the Issuer, the Guarantor and the Agents, require the Agents, until notified in writing by the Trustee to the contrary, so far as permitted by Applicable Law:
以书面形式通知发行人、担保人及代理人,要求代理人在受托人以书面形式发出相反通知之前,在适用法律允许的范围内:

to act as agents of the Trustee under this Trust Deed, the Deed of Guarantee and the Bonds on the terms of the Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability under the Agency Agreement for the indemnification, remuneration and all other expenses of and amounts payable to the Agents will be limited to the amounts for the time being held by the Trustee in respect of the Bonds on the terms of this Trust Deed and available for such purpose) and thereafter to hold all Certificates and all moneys, documents and records held by them in respect of the Bonds to the order of the Trustee; and/or
根据本信托契约、担保契约和债券根据代理协议的条款担任受托人的代理人(必要时进行相应修订,但受托人根据代理协议对代理人的赔偿、报酬和所有其他费用和应付金额的责任将限于受托人目前持有的债券金额。本信托契约的条款,并可用于此目的),并随后按照受托人的命令持有所有证书和他们持有的与债券有关的所有款项、文件和记录;和/或

to deliver all Certificates and all moneys, documents and records held by them in respect of the Bonds to the Trustee or as the Trustee directs in such notice or subsequently, provided that this Clause 2.4.1(ii) shall not apply to any documents or records which the relevant Agent is obliged not to release by any Applicable Law to which it is subject; and
将所有证书及其持有的与债券有关的所有款项、文件和记录交付给受托人,或按照受托人在该通知中或随后的指示交付,但本第 2.4.1(ii) 条不适用于相关代理人根据其所受的任何适用法律有义务不发布的任何文件或记录;和

by notice in writing to the Issuer and the Guarantor, require the Issuer (failing whom the Guarantor) to make all subsequent payments in respect of the Bonds to or to the order of the Trustee and not to the Principal Paying Agent with effect from the issue of any such notice to the Issuer and the Guarantor; and from then until such notice is withdrawn, Clause 2.2.1 above shall cease to have effect.
以书面通知发行人及担保人,要求发行人(否则为担保人)自向发行人及担保人发出任何该等通知后,向受托人或受托人而非主付款代理人支付有关债券的所有后续款项;自那时起,直至该通知被撤回,上述第2.2.1条将不再有效。

FORM OF THE BONDS
债券的形式

The Global Certificate
全球证书

The Bonds will initially be represented by the Global Certificate in registered form without coupons attached in the aggregate principal amount of U.S.$75,000,000 which shall be deposited with the Common Depositary. The Global Certificate shall be registered in the name of a nominee of the Common Depositary. The Global Certificate will be exchangeable for Certificates as set out in the Global Certificate.
债券最初将由注册形式的全球证书代表,不附息票,本金总额为75,000,000美元,应存入共同存管人。全球证书应以共同存托人的代名人名义注册。全球证书可交换为全球证书中规定的证书。

Form of Certificates
证书形式

The Certificates in definitive form, if issued, will be printed in accordance with the requirements of the applicable stock exchange where the Bonds are listed and will be substantially in the form set out in Part B of Schedule 1 and endorsed with the Conditions.
最终形式的证书(如已发行)将按照债券上市地的适用证券交易所的要求印制,并将基本采用附表1B部所列的形式,并附上条件。

Signature
签名

The Certificates shall be signed manually by any Authorised Signatory of the Issuer duly authorised for the purpose and authenticated manually by or on behalf of the Registrar. The Issuer may use the signature of a person who at the date of signing any Certificates is such an Authorised Signatory of the Issuer even if at the time of the issue of such Certificates he is no longer so authorised. Bonds represented by Certificates (including the Global Certificate) so executed and authenticated will be binding and valid obligations of the Issuer.
证书须由发行人的任何获授权签署人手动签署,并由注册服务商或代表注册服务商进行手动认证。发行人可以使用在签署任何证书之日是发行人授权签字人的人士的签名,即使在签发该证书时该人已不再获得授权。以证书(包括全球证书)为代表的债券,经签署和认证后,将是发行人具有约束力和有效的义务。

Issue
问题

Issue and delivery of the Bonds shall be completed on the issue and delivery of the Global Certificate to the Euroclear and Clearstream or to a custodian on behalf thereof, and the completion of the entry in the register of holders by the Registrar.
债券的发行和交付应在向Euroclear和Clearstream或代表其向托管人发行和交付全球证书,并由注册商完成在持有人登记册上的登记后完成。

Entitlement to Treat Holder as Owner
将持有人视为所有者的权利

The holder of any Bond will (except as ordered by a court of competent jurisdiction or save as otherwise required by law) be treated as its absolute owner for all purposes (whether or not it is overdue and regardless of any notice of ownership, trust or any interest in it or any writing (other than the endorsed form of transfer duly completed) on or the theft or loss of the Certificate issued in respect of it) and no person will be liable for so treating such holder, and neither the Trustee nor any Agent shall be affected by any notice to the contrary.
任何债券的持有人(除非有管辖权的法院下令或法律另有规定)将被视为其绝对所有者(无论该债券是否逾期,也无论是否有任何所有权、信托或任何权益的通知或任何书面形式(已正式填写的背书转让表格除外)或就以下事项签发的证书被盗或丢失(等)及任何人均无须就此对待该持有人负责,而受托人或任何代理人均不受任何相反通知的影响。

STAMP DUTIES AND TAXES
印花税和税收

Stamp Duties
印花税

The Issuer (failing whom the Guarantor) will pay any stamp, issue, registration, documentary, transfer or other taxes, duties, fees, assessments and/or governmental charges including interest and penalties (if any), payable in Hong Kong, the PRC, the United Kingdom and any other jurisdiction in respect of the creation, issue and offering of the Bonds and the execution, delivery, performance and enforcement of this Trust Deed, the Agency Agreement and/or the Deed of Guarantee. None of the Trustee or the Agents shall be liable or responsible to pay any such taxes, duties, fees, assessments and/or governmental charges in any jurisdiction, and none of them shall be under any obligation to determine whether the Issuer, the Guarantor or any Bondholder is liable to pay any such taxes, duties, fees, assessments and/or governmental charges and shall not be concerned with, or obliged or required to enquire into, the sufficiency of any amount paid by the Issuer, the Guarantor or any Bondholder for this purpose and shall not be liable or responsible for any losses as a result of any non-payment by the Issuer, the Guarantor or any Bondholder. The Issuer and the Guarantor will jointly and severally indemnify the Trustee and the Bondholders, on demand, from and against all stamp, issue, registration, documentary, transfer or other taxes, duties, fees, assessments and/or governmental charges paid by any of them in any jurisdiction in connection with any action taken by or on behalf of the Trustee or, as the case may be, the Bondholders to enforce the Issuer’s or the Guarantor’s respective obligations, as the case may be, under this Trust Deed, the Agency Agreement, the Deed of Guarantee and/or the Bonds. The parties hereto acknowledge that the foregoing indemnities shall survive the resignation or removal of the Trustee and/or the Bonds no longer being outstanding and/or termination of this Trust Deed.
发行人(担保人)将支付在香港、中国、英国及任何其他司法管辖区就债券的设立、发行及发行及执行而须支付的任何印花税、发行、登记、文件、转让或其他税款、关税、费用、评估及/或政府收费,包括利息及罚款(如有), 本信托契约、代理协议和/或担保契约的交付、履行和执行。任何受托人或代理人均无责任或负责在任何司法管辖区支付任何此类税款、关税、费用、评估和/或政府收费,且他们均无义务确定发行人、担保人或任何债券持有人是否有责任支付任何此类税款、关税、费用、评估和/或政府收费,也无须关注: 或有义务或被要求查询发行人、担保人或任何债券持有人为此目的支付的任何金额是否足够,并且不对因发行人、担保人或任何债券持有人未付款而造成的任何损失承担任何责任或义务。发行人及担保人将应受托人及债券持有人的要求,连带赔偿受托人及债券持有人在任何司法管辖区就受托人或代表受托人采取的任何行动而支付的所有印花、发行、登记、文件、转让或其他税款、关税、费用、评估及/或政府费用,或, (视情况而定),债券持有人根据本信托契约、代理协议、担保契约和/或债券强制执行发行人或担保人各自的义务(视情况而定)。 双方承认,上述赔偿应在受托人辞职或罢免和/或债券不再未偿付和/或本信托契约终止后继续有效。

Change of Taxing Jurisdiction
税收管辖权的变更

If the Issuer or the Guarantor becomes subject generally to the taxing jurisdiction of a territory or a taxing authority of or in that territory with power to tax other than or in addition to the PRC or any such authority of or in such territory then the Issuer or, as the case may be, the Guarantor will notify the Trustee in writing as soon as practicable after it becomes aware thereof and give the Trustee an undertaking in form and substance satisfactory to the Trustee in terms corresponding to the terms of Condition 8 with the substitution for, or (as the case may require) the addition to, the references in Condition 8 to the PRC with references to that other or additional territory or authority to whose taxing jurisdiction the Issuer or the Guarantor (as the case may be) has become so subject. In such event, this Trust Deed, the Deed of Guarantee and the Bonds will be read accordingly.
倘若发行人或担保人普遍受某一地区或该领土的税务机关的征税管辖,并有权在中国境外或中国以外的任何该等机关或该领土内的任何该等当局征税,则发行人或担保人(视情况而定)将在知悉后尽快以书面形式通知受托人,并给予受托人:在形式和实质上令受托人满意的承诺,其条款与条件8的条款相对应,并取代或(视情况而定)增加条件8中提及的中国,并提及发行人或担保人(视情况而定)对其征税管辖权的其他或附加地区或当局。在此情况下,本信托契约、担保契约和债券将相应地阅读。

GUARANTEE
保证

The Guarantor has in the Deed of Guarantee unconditionally and irrevocably guaranteed to the Trustee the due and punctual payment of all sums due by the Issuer to the Trustee and the Bondholders under this Trust Deed and the Bonds. The Deed of Guarantee has been delivered to the Trustee who shall hold the benefit of all rights and interests in, to and under the Deed of Guarantee for itself and the Bondholders on the trusts of this Trust Deed.
担保人在保证契据中无条件及不可撤销地向受托人保证发行人根据本信托契约及债券向受托人及债券持有人支付的所有款项。担保契约已交付给受托人,受托人应为自己和本信托契约信托的债券持有人持有担保契约中、担保契约内和担保契约下的所有权利和利益。

APPLICATION OF MONEYS RECEIVED BY THE TRUSTEE
受托人收取款项的用途

Declaration of Trust
信托声明

All moneys received by the Trustee or any Agent acting as agent of the Trustee in accordance with Clause 5.1 of the Agency Agreement in respect of the Bonds or amounts payable under this Trust Deed, the Conditions and the Deed of Guarantee will, despite any appropriation of all or part of them by the Issuer or the Guarantor, be held by the Trustee on trust to be applied (subject to Clause 6.2):
受托人或作为受托人代理人的任何代理人根据《代理协议》第5.1条就债券或根据本信托契约、条件和担保契约应付的款项收取的所有款项,即使发行人或担保人已拨出全部或部分款项, 由受托人以信托方式持有(受第6.2条的约束):

firstly, in payment of all fees, all costs, charges and expenses and liabilities incurred by and indemnity payments and all other amounts payable to the Trustee (including without limitation remuneration payable to it and legal fees and expenses) in carrying out its respective functions, duties and/or exercising its respective rights, powers, authorities and discretions under and in accordance with this Trust Deed, the Bonds, the Agency Agreement and the Deed of Guarantee (which for the avoidance of doubt includes without limitation the fees, costs, charges, expenses, indemnity payments and liabilities of and all amounts payable to any Appointee appointed by the Trustee and the Agents for so long as they are acting as agents of the Trustee);
首先,支付受托人在履行其各自的职能、职责和/或行使其各自的权利、权力、权限和酌情权时应支付给受托人的所有费用、所有费用、收费和开支、责任和赔偿款项以及所有其他应付给受托人的款项(包括但不限于应付给受托人的报酬和法律费用和开支),并根据本信托契约行使其各自的权利、权力、权限和酌情权, 债券、代理协议及担保契据(为免生疑问,包括但不限于受托人及代理人所委任的任何委任人的费用、成本、收费、开支、弥偿付款及负债及所有应付款项,只要他们作为受托人的代理人行事);

secondly, in payment of any amounts (including principal, premium (if any), interest and default interest (if any)) owing in respect of the Bonds pari passu and rateably;
第二,支付债券所欠的任何款项(包括本金、溢价(如有)、利息及违约利息(如有));

thirdly, in payment or satisfaction of all fees, all costs, charges and expenses and all liabilities incurred by or payable to each Agent (including without limitation remuneration and indemnification payable to it and legal fees and expenses) and any other amounts owing to each of the Agents in carrying out their respective duties, or functions and/or exercising their respective rights, powers, authorities and discretions under or in connection with this Trust Deed, the Agency Agreement and the Deed of Guarantee or in connection with the Bonds (if any) but unpaid; and
第三,支付或清偿所有费用、所有费用、收费和开支以及每名代理人产生或应付给其的所有责任(包括但不限于应付给其的报酬和赔偿以及法律费用和开支)以及每名代理人在履行其各自职责或职能和/或行使其各自权利时应支付的任何其他款项, 根据本信托契约、代理协议和担保契约或与债券(如有)有关但未支付的权力、权限和酌情权;和

fourthly, in payment of any balance to the Issuer for itself or, if any moneys were received from the Guarantor and to the extent of such moneys, the Guarantor.
第四,向发行人支付其自身的任何余额,或者,如果从担保人处收到任何款项,则向担保人支付。

If the Trustee holds any moneys in respect of Bonds which have become void, the Trustee will hold them on these trusts.
如果受托人持有任何已失效的债券资金,受托人将持有这些信托。

The Trustee shall not be obliged to pay any moneys as contemplated by this Clause 6.1 or to pay any other amounts in respect of the Bonds until such time as such moneys or amounts have been actually received by the Trustee in cleared and immediately available funds.
受托人没有义务支付本第6.1条所设想的任何款项或支付与债券有关的任何其他款项,直到受托人以清算和立即可用的资金实际收到此类款项或金额。

Accumulation
积累

If the amount of the moneys at any time available for payment in respect of the Bonds under Clause 6.1 is less than 10 per cent. of the principal amount of the Bonds then outstanding, the Trustee may, at its sole and absolute discretion, but without any obligation, deposit such moneys in accordance with Clause 6.3. The Trustee may at its sole discretion, (but shall not be obliged to) retain such deposits and accumulate the resulting income until the deposits and the accumulations, together with any other funds for the time being under its control and available for such payment, amount to at least 10 per cent. of the principal amount of the Bonds then outstanding and then such deposits, accumulations and funds (after deduction of, or provision for, any applicable taxes) will be applied as specified in Clause 6.1. For the avoidance of doubt, the Trustee shall in no circumstances have any discretion to invest any moneys referred to in this Clause 6.2.
如果根据第6.1条,任何时候可用于支付债券的金额低于10%。受托人可根据第6.3条的规定,自行决定(但无任何义务)存入该等款项。受托人可自行决定(但无义务)保留该等存款并累积由此产生的收入,直至存款和累积,连同其目前控制并可用于支付的任何其他资金,至少达到10%。当时未偿还的债券的本金金额,以及该等存款、累积和资金(扣除或拨备任何适用税款后)将按第6.1条的规定适用。为免生疑问,受托人在任何情况下均无权酌情投资本第6.2条所述的任何款项。

Deposit
存款

Moneys held by the Trustee under this Trust Deed may be placed on deposit into an account which may be non-interest bearing or interest-bearing (and for the avoidance of doubt, the Trustee shall not be required to obtain best rates, be responsible for any loss or liability occasioned by such deposit with respect to such deposits, and it is acknowledged that an interest bearing account may result in negative interest rates applying) in its name or under its control at such bank or other financial institution as the Trustee may, in its sole and absolute discretion, think fit. If that bank or institution is the Trustee or a subsidiary, holding or associated company of the Trustee, it need only account for an amount of interest equal to the standard amount of interest payable by it on such a deposit to an independent customer. The Trustee may, but shall be under no obligation to, at any time vary or transpose any such deposits or convert any moneys so deposited into any other currency, and will not be responsible or liable for any resulting loss, whether by depreciation in value, change in exchange rates, interest rates or otherwise and shall not be liable for obtaining a return thereon which is less than the return which may have been obtained if the relevant deposit was made in another form and/or with another institution. In accordance with Clause 6.1 above, all interest and other income deriving from such deposits shall be applied first in payment or satisfaction of all amounts then due and unpaid to the Trustee and/or any Appointee and otherwise held for the benefit of and paid to the Bondholders.
受托人根据本信托契约持有的款项可以存入一个不计息或计息的账户(为免生疑问,受托人无须获得最优惠利率,对此类存款造成的任何损失或责任负责, 并承认计息账户可能导致负利率)以其名义或在其控制下在受托人可自行决定认为合适的银行或其他金融机构适用。如果该银行或机构是受托人或受托人的子公司、控股公司或联营公司,则该银行或机构只需说明其就该存款向独立客户支付的标准利息金额的利息金额。受托人可以(但无义务)在任何时候更改或转换任何此类存款或将如此存入的任何款项转换为任何其他货币,并且不对任何由此产生的损失负责或承担任何责任,无论是因价值贬值、汇率、利率变化还是其他原因而造成的损失,并且不负责获得低于可能获得的回报的回报:有关存款是以其他形式和/或向另一家机构支付的。根据上文第6.1条,由该等存款产生的所有利息及其他收入,应首先用于支付或清偿所有到期及未付给受托人及/或任何委任人的款项,以及以其他方式为债券持有人的利益而持有及支付给债券持有人的款项。

COVENANTS
公约

So long as any Bond is outstanding, each of the Issuer and the Guarantor will (unless otherwise indicated):
只要任何债券尚未偿还,发行人和担保人将(除非另有说明):

Books of Account: keep, and procure that each of their respective Subsidiaries keeps, proper books of account and, at any time after a Potential Event of Default or an Event of Default has occurred or if the Trustee believes or is notified that such an event has occurred or is about to occur, or at any other time on request from the Trustee following a request from a Bondholder, so far as permitted by Applicable Law, allow, and procure that each such Subsidiary will allow, the Trustee and anyone appointed by it access to the books of account of the Issuer, the Guarantor and/or the relevant Subsidiary, as the case may be, at all reasonable times during normal business hours (being between 9:00 a.m. (Hong Kong time) and 5:00 p.m. (Hong Kong time) on a Business Day);
账簿:在潜在违约事件或违约事件发生后的任何时间,或如果受托人认为或被告知此类事件已经发生或即将发生,或在债券持有人提出要求后,受托人要求的任何其他时间,保存并促使其各自的子公司保存适当的账簿, 在适用法律允许的范围内,允许并促使每家该等附属公司允许受托人及其委任的任何人在正常工作时间(即营业日上午9:00(香港时间)至下午5:00(香港时间)之间的所有合理时间查阅发行人、担保人及/或相关附属公司(视情况而定)的账簿;

Notice of Events of Default: notify the Trustee in writing immediately on becoming aware of the occurrence of any Event of Default or Potential Event of Default without waiting for the Trustee to take any further action;
违约事件通知:在知悉任何违约事件或潜在违约事件发生后,立即以书面通知受托人,而无需等待受托人采取任何进一步行动;

Information: so far as permitted by Applicable Law, give or procure to be given to the Trustee such information, opinions, certificates and evidence as it requires (including without limitation the procurement by the Issuer and the Guarantor of all such opinions or certificates called for by the Trustee pursuant to Clause 9.6) and in such form as it shall require or consider necessary to perform its functions and/or obligations and/or exercise its rights, powers and discretions as Trustee under this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds or any other document required or contemplated hereunder or thereunder or relating to the transactions herein or therein contemplated or by operation of law. The Trustee shall be entitled to rely conclusively upon such information, opinions, certificates and evidence and shall not be liable to any Bondholder or any other person for such reliance;
信息:在适用法律允许的范围内,向受托人提供或促使受托人提供其所需的信息、意见、证书和证据(包括但不限于发行人和担保人根据第 9.6 条要求的所有此类意见或证书),以及其要求或认为必要的形式,以履行其职能和/或义务和/或行使其权利, 根据本信托契约、代理协议、担保契约和债券或本协议项下或其项下要求或设想的任何其他文件,或与本协议或其中预期的交易有关或通过法律运作,作为受托人的权力和自由裁量权。受托人有权最终依赖此类信息、意见、证书和证据,并且不对任何债券持有人或任何其他人承担此类依赖责任;

Financial Statements: furnish the Trustee with
财务报表:向受托人提供

(i) one copy of the Issuer Audited Financial Reports (audited by a nationally or internationally recognised firm of independent accountants) within 150 days of the end of each Relevant Period, and if such statements shall be in the Chinese language, together with an English translation of the same (which translation shall be at the cost of the Issuer) translated by (x) a nationally or internationally recognised firm of independent accountants, or (y) a professional translation service provider and checked and confirmed by a nationally or internationally recognised firm of independent accountants, together in each case with a certificate in English (substantially in the form set out in Schedule 4 hereto) signed by an Authorised Signatory of the Issuer certifying that such translation is complete and accurate (and the Trustee shall be entitled to assume that each such English translation is a translation of the original, and may rely conclusively without liability to the Issuer, the Guarantor, any Bondholder or any other person); and (ii) one copy of the Issuer Unaudited Semi-Annual Financial Reports prepared on a basis consistent with the Issuer Audited Financial Reports within 90 days of the end of each Relevant Period, and if such statements shall be in the Chinese language, together with an English translation of the same (which translation shall be at the cost of the Issuer) and translated by (x) a nationally or internationally recognised firm of independent accountants, or (y) a professional translation service provider and checked and confirmed by a nationally or internationally recognised firm of independent accountants, together in each case with a certificate in English (substantially in the form set out in Schedule 4 hereto) signed by an Authorised Signatory of the Issuer certifying that such translation is complete and accurate (and the Trustee shall be entitled to assume that each such English translation is a complete and accurate translation of the original, and may rely conclusively without liability to any Bondholder, the Guarantor, the Issuer or any other person); and
(i) 在每个相关期间结束后150天内,发行人经审计的财务报告(由国内或国际公认的独立会计师事务所审计)的一份副本,如果该等报表应为中文,则连同由(x)国内或国际认可的独立会计师事务所翻译的英文译本(该译文应由发行人承担费用), 或 (y) 专业翻译服务提供商,并由国内或国际公认的独立会计师事务所检查和确认,并在每种情况下都附有由发行人的授权签字人签署的英文证书(实质上采用本协议附表 4 中所列的格式),证明该翻译完整准确(受托人有权假定每个此类英文译本均为原文的译文, 并可最终依赖发行人、担保人、任何债券持有人或任何其他人,而不承担任何责任);及(ii)在每个相关期间结束后90天内,根据与发行人经审计的财务报告一致的基础上编制的发行人未经审计的半年度财务报告副本一份,如果该等报表应为中文,则连同该报表的英文译本(该译文应由发行人承担费用),并由(x)国内或国际认可的独立会计师事务所翻译, 或 (y) 专业翻译服务提供商,并由国内或国际公认的独立会计师事务所检查和确认,并在每种情况下连同由授权签署人签署的英文证书(实质上采用本协议附表 4 中所列的形式)发行人证明该等翻译是完整和准确的(受托人有权假定每个该等英文翻译都是原件的完整和准确的翻译,并可最终依赖任何债券持有人、担保人、发行人或任何其他人,而不承担任何责任);和

(i) one copy of the Guarantor Audited Financial Reports (audited by a nationally or internationally recognised firm of independent accountants) within 150 days of the end of each Relevant Period, and if such statements shall be in the Chinese language, together with an English translation of the same (which translation shall be at the cost of the Issuer) translated by (x) a nationally or internationally recognised firm of independent accountants, or (y) a professional translation service provider and checked and confirmed by a nationally or internationally recognised firm of independent accountants, together in each case with a certificate in English (substantially in the form set out in Schedule 4 hereto) signed by an Authorised Signatory of the Guarantor certifying that such translation is complete and accurate (and the Trustee shall be entitled to assume that each such English translation is a complete and accurate translation of the original, and may rely conclusively without liability to the Issuer, the Guarantor, any Bondholder or any other person); and (ii) one copy of the Guarantor Unaudited Semi-Annual Financial Reports prepared on a basis consistent with the Guarantor Audited Financial Reports within 90 days of the end of each Relevant Period, and if such statements shall be in the Chinese language, together with an English translation of the same (which translation shall be at the cost of the Issuer) and translated by (x) a nationally or internationally recognised firm of independent accountants, or (y) a professional translation service provider and checked and confirmed by a nationally or internationally recognised firm of independent accountants, together in each case with a certificate in English (substantially in the form set out in Schedule 4 hereto) signed by an Authorised Signatory of the Guarantor certifying that such translation is complete and accurate (and the Trustee shall be entitled to assume that each such English translation is complete and accurate translation of the original, and may rely conclusively without liability to any Bondholder, the Guarantor, the Issuer or any other person;
(i) 在每个相关期间结束后150天内,一份担保人经审计的财务报告(由国家或国际公认的独立会计师事务所审计),如果该等报表应为中文,则连同由(x)国内或国际公认的独立会计师事务所翻译的英文译本(该译文应由发行人承担费用), 或 (y) 专业翻译服务提供商,并由国内或国际公认的独立会计师事务所检查和确认,并在每种情况下都附有由担保人的授权签字人签署的英文证书(实质上是本附表 4 中所列的格式),证明该翻译是完整和准确的(受托人有权假设每个此类英文翻译都是完整和准确的翻译的原件,并可最终依赖发行人、担保人、任何债券持有人或任何其他人,而无需承担任何责任);及(ii)在每个相关期间结束后90天内,根据与担保人经审计的财务报告一致的基础上编制的一份担保人未经审计的半年度财务报告,如果该等报表应为中文,则连同该报表的英文译本(该译文应由发行人承担费用),并由(x)一家国内或国际公认的独立会计师事务所翻译, 或 (y) 专业翻译服务提供商,并由国家或国际认可的独立会计师事务所检查和确认,并在每种情况下都附有英文证书(实质上采用本协议附表 4 中规定的格式)si由担保人的授权签字人证明该翻译完整及准确(受托人有权假定每个该等英文译本均为原文的完整及准确译文,并可最终依赖任何债券持有人、担保人、发行人或任何其他人士,而不承担任何责任;

The Trustee shall not be required to review the Issuer Audited Financial Reports, the Issuer Unaudited Semi-Annual Financial Reports, the Guarantor Audited Financial Reports, the Guarantor Unaudited Semi-Annual Financial Reports or any other financial report furnished or delivered to it as contemplated in this Clause 7.4 and, if the same shall not be in the English language, shall not be required to request or obtain an English translation of the same or to investigate or verify the accuracy or completeness of any translation of any Issuer Audited Financial Reports, Issuer Unaudited Financial Reports, Guarantor Audited Financial Reports, Guarantor Unaudited Semi-Annual Financial Reports or any other financial report furnished or delivered to it as contemplated in this Clause 7.4, and the Trustee shall not be liable to any Bondholder or any other person for not doing so.
受托人无须审阅发行人经审计的财务报告、发行人未经审计的半年度财务报告、担保人经审计的财务报告、担保人未经审计的半年度财务报告或本第 7.4 条所设想的向其提供或交付的任何其他财务报告,并且,如果该财务报告不是英文的, 无须索取或获取该书的英文译文,或调查或核实任何发行人经审计的财务报告、发行人经审计的财务报告、担保人经审计的财务报告、担保人未经审计的半年度财务报告或本第 7.4 条所设想的任何其他财务报告的任何翻译的准确性或完整性, 受托人不对任何债券持有人或任何其他人承担任何责任。

Compliance Certificate: within 14 days of any written request therefor by the Trustee and at the time of provision of the Guarantor Audited Financial Reports or the Issuer Audited Financial Reports, as the case may be, furnish the Trustee with a Compliance Certificate (substantially in the form set out in Schedule 5 hereto and on which the Trustee may rely conclusively without investigation, verification or liability as to such compliance) of the Issuer or the Guarantor (as the case may be) in English signed by any Authorised Signatory of the Issuer or the Guarantor (as the case may be) confirming that, having made all reasonable enquiries, to the best of the knowledge, information and belief of the Issuer or the Guarantor (as the case may be) as at a date (the “Certification Date”) not more than five days before the date of such certificate:
合规证明书:在受托人提出任何书面要求后14天内,在提供担保人经审计的财务报告或发行人经审计的财务报告(视情况而定)时,向受托人提供合规证明书(实质上采用本协议附表5所列的形式,受托人可无须调查而最终依赖该证明书, 发行人或担保人(视情况而定)的任何授权签字人(视情况而定)以英文签署的发行人或担保人(视情况而定)的英文核实或责任,确认在已尽发行人或担保人(视情况而定)的知识、信息和信念进行所有合理查询后,于不超过五天的日期(“认证日期”)在此类证书日期之前:

no Event of Default or Potential Event of Default or Relevant Event had occurred since the Certification Date of the last such certificate or (if none) the Issue Date or, if such an event had occurred, giving details of it; and
自上一个此类证书的认证日期或(如果没有)签发日期以来,没有发生任何违约事件或潜在违约事件或相关事件,或者如果发生了此类事件,请提供其详细信息;和

the Issuer or the Guarantor (as the case may be) has complied with all its covenants and obligations under this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds since the last Certification Date of the last such certificate or (if none) the Issue Date or, if any non-compliance had occurred, giving details of it.
发行人或担保人(视情况而定)自上一份此类证书的最后认证日期或(如果没有)发行日期起,已遵守其在本信托契约、代理协议、担保契约和债券项下的所有契约和义务,或者(如没有)发行日期,或者,如果发生任何不合规行为,请提供详细信息。

The Trustee shall be entitled to rely conclusively without investigation, verification and liability as to such compliance upon each Compliance Certificate given as contemplated in this Trust Deed and the Conditions and shall not be liable to the Issuer, the Guarantor, any Bondholder or any other person for so relying;
受托人有权根据本信托契约和条件中规定的每份合规证书,在不进行调查、核实和承担责任的情况下最终依赖此类合规情况,并且不对发行人、担保人、任何债券持有人或任何其他人承担任何责任;

Notices to Bondholders: send to the Trustee at least five Business Days prior to the date of publication, a copy of the form of each notice in English to be given to the Bondholders for approval and, once given, two copies of each such notice given to the Bondholders (such approval, unless so expressed, not to constitute approval for the purposes of section 21 of the FSMA of any such notice which is communicated within the meaning of section 21 of the FSMA). The failure of the Trustee to provide its approval shall not preclude the Issuer or the Guarantor from giving any notice required by the Conditions or Applicable Law. For the avoidance of doubt, the Trustee shall not be concerned with, nor shall it be obliged or required to enquire into, the sufficiency or accuracy of the contents of such notices and shall not be liable to the Bondholders or any other person for any such approval by the Trustee or for compliance by the Issuer or the Guarantor with the requirements of any relevant clearing system or exchange;
致债券持有人的通知:在发布日期前至少五个工作日向受托人发送一份将每份通知的英文格式副本交给债券持有人批准,并在收到后向债券持有人发送每份此类通知的两份副本(除非另有说明,否则此类批准不构成就 FSMA 第 21 条而言对在FSMA第21条的含义)。受托人未能提供其批准并不妨碍发行人或担保人发出条件或适用法律要求的任何通知。为免生疑问,受托人无须关注、亦无义务或被要求查询该等通知内容的充分性或准确性,亦无须就受托人的任何该等批准或发行人或担保人遵守任何相关结算系统或交易所的要求而对债券持有人或任何其他人士承担责任;

Further Acts: so far as permitted by Applicable Law, execute all such further documents and do all such further acts and things as may be necessary at any time or times in the opinion of the Trustee to give effect to this Trust Deed, the Bonds, the Agency Agreement and the Deed of Guarantee;
进一步行为:在适用法律允许的范围内,在受托人认为的任何时间签署所有此类进一步文件并采取所有必要的进一步行为和事情,以使本信托契约、债券、代理协议和担保契约生效;

Notice of Late Payment: forthwith give notice to the Bondholders of any unconditional payment to the Principal Paying Agent or the Trustee of any sum due in respect of the Bonds made after the due date for such payment;
逾期付款通知:立即通知债券持有人,向主付款代理人或受托人无条件支付在该等付款到期日之后就债券支付的任何应付款项;

Change in Agents: give at least 14 days’ prior notice to the Bondholders in accordance with Condition 16 of any future appointment, resignation or removal of an Agent or of any change by an Agent of its specified office, and not make any such appointment or removal without the Trustee’s prior written approval. The Issuer and the Guarantor shall at all times maintain the Agents as provided in Condition 7(d);
代理人变更:根据第16条,将代理人未来的任何任命、辞职或罢免,或代理人对其指定办事处的任何变更,至少提前14天通知债券持有人,未经受托人事先书面批准,不得进行任何此类任命或罢免。发行人和担保人应始终按照条件7(d)的规定维持代理人;

Bonds Held by Issuer or the Guarantor, etc: send to the Trustee as soon as practicable (and in any event no later than 14 days) after being so requested in writing by the Trustee a certificate in English of the Issuer or, as the case may be, the Guarantor signed by an Authorised Signatory of the Issuer or the Guarantor, as the case may be, stating the number of Bonds which are (i) beneficially held by or on behalf of the Issuer or any of its Subsidiaries or, as the case may be, the Guarantor or any of its Subsidiaries at the date of such certificate, or (ii) redeemed or purchased and cancelled by the Issuer, the Guarantor or any of their respective Subsidiaries up to and including the date of such certificate, and the Trustee may rely conclusively, without liability to the Issuer, the Guarantor, any Bondholder or any other person, on any such certificate;
发行人或担保人等持有的债券:在受托人书面要求后,尽快(在任何情况下不迟于14天)向受托人发送由发行人或担保人的授权签字人签署的英文证明书, (视情况而定),列明(i)在该证明书签发之日由发行人或其任何附属公司或担保人或其任何附属公司(视情况而定)实益持有的债券数量,或(ii)由发行人赎回或购买及注销的债券数量, 担保人或其各自的任何子公司,直至该证明书日期(包括该证明书日期),受托人可最终依赖任何该等证明书,而无须对发行人、担保人、任何债券持有人或任何其他人士承担责任;

Notification of Relevant Events: give notice in writing to the Bondholders in accordance with Condition 16 and to the Trustee and the Principal Paying Agent in writing by not later than 14 days (in the case of a Change of Control Event) or five days (in the case of a No Registration Event) following the first day on which the Issuer or, as the case may be, the Guarantor becomes aware of a Relevant Event;
相关事件的通知:根据第16条以书面形式通知债券持有人,并在发行人或 视情况而定,担保人知悉相关事件;

Filing, Registration and Reporting: duly and punctually comply with or procure that there is compliance with all filing, registration, reporting and similar requirements required in accordance with Applicable Law from time to time relating in any manner whatsoever to this Trust Deed, the Deed of Guarantee, the Bonds and/or the Agency Agreement;
备案、登记和报告:适当和准时地遵守或确保遵守适用法律不时要求的所有备案、登记、报告和类似要求,以任何方式与本信托契约、担保契约、债券和/或代理协议有关;

Consents, Approvals and Authorisations: obtain, comply with and do all that is necessary to maintain in full force and effect any governmental or regulatory or other consent, approval, authorisation, resolution, licence, exemption, filing, licence, order, recording or registration (i) to enable each of the Issuer and the Guarantor, as the case may be, to lawfully enter into, exercise its rights and perform and comply with its obligations under the Bonds, the Agency Agreement, the Deed of Guarantee and/or this Trust Deed, in each case, as and when required, (ii) to ensure that such obligations are legally binding and enforceable and (iii) to make the Bonds, the Agency Agreement, the Deed of Guarantee and/or this Trust Deed admissible in evidence in the courts of Hong Kong;
同意、批准和授权:获得、遵守并采取一切必要措施,以保持任何政府或监管或其他同意、批准、授权、决议、许可、豁免、备案、许可、命令、记录或注册 (i) 使发行人和担保人(视情况而定)能够合法订立, 在每种情况下,在每种情况下,在必要时行使其权利并履行和遵守其在债券、代理协议、担保契约和/或本信托契约下的义务,(ii)确保该等义务具有法律约束力和可执行性,以及(iii)使债券、代理协议、担保契约和/或本信托契约在香港法院被接纳为证据;

Compliance: obtain, comply with and do all that is necessary to maintain in full force and effect any governmental or regulatory or other consent, approval, authorisation, resolution, licence, exemption, filing, licence, order, recording or registration (i) to enable each of the Issuer and the Guarantor, as the case may be, to lawfully enter into, exercise its rights and perform and comply with its obligations under the Bonds, the Agency Agreement, the Deed of Guarantee and/or this Trust Deed, in each case, as and when required, (ii) to ensure that such obligations are legally binding and enforceable and (iii) to make the Bonds, the Agency Agreement, the Deed of Guarantee and/or this Trust Deed admissible in evidence in the courts of Hong Kong;
合规:取得、遵守并采取一切必要措施,以维持任何政府或监管或其他同意、批准、授权、决议、许可、豁免、备案、许可、命令、记录或注册(i)使发行人和担保人(视情况而定)能够合法订立、行使其权利并履行和遵守其在债券项下的义务, 代理协议、担保契约和/或本信托契约(在每种情况下,如有需要),(ii)确保该等义务具有法律约束力和可执行性,以及(iii)使债券、代理协议、保证契约和/或本信托契约在香港法院可被接纳为证据;

Notification of Completion of the NDRC Post-issue Filing and the SAFE Registration: on or before the Registration Deadline and within ten (10) Registration Business Days after the later of: (i) submission of the NDRC Post-issue Filing and (ii) receipt of the registration record from SAFE (or any other document evidencing the completion of registration issued by SAFE), provide the Trustee with (A) a certificate in English (in substantially the form set out in Schedule 6 hereto) signed by an Authorised Signatory of the Issuer confirming the completion of the NDRC Post-issue Filing and the SAFE Registration; and (B) copies of the relevant documents evidencing the NDRC Post-issue Filing (if any) and the SAFE Registration and any other document evidencing the completion of filing confirmed by the NDRC and the SAFE (if any), certified in English by an Authorised Signatory of the Issuer as being a true and complete copy of the original (the items specified in (A) and (B) together, the “Filing Documents”). In addition, the Issuer shall within ten Registration Business Days after the Filing Documents are delivered to the Trustee, give notice to the Bondholders (in accordance with Condition 16) confirming the completion of the NDRC Post-issue Filing and the SAFE Registration.
完成发改委发行后备案和外管局注册的通知:在注册截止日期当天或之前,以及以下时间(i)提交发改委发行后备案和(ii)收到外管局的注册记录(或任何其他证明国家外汇局完成注册的文件)后十(10)个注册工作日内, 向受托人提供(A)由发行人授权签字签署的英文证明书(实质上为本文件附表6所列格式),确认已完成发改委发行后备案和外汇管理局登记;(B)证明国家发改委发行后备案(如有)和外管局登记的相关文件的复印件,以及经发改委和外管局确认已完成备案的任何其他文件(如有),并由发行人的授权签字人以英文证明为原件的真实完整副本((A)和(B)中指定的项目一并; “备案文件”)。此外,发行人应当在备案文件送达受托人后10个登记工作日内,向债券持有人发出通知(根据第16条的规定),确认完成发改委发行后备案和外汇局登记。

The Trustee may rely conclusively without investigation or verification on the Filing Documents and shall have no obligation or duty to monitor, assist with or ensure the NDRC Post-issue Filing is made with the NDRC or the SAFE Registration is completed or to verify the accuracy, content, completeness, validity and/or genuineness of any documents in relation to or in connection with the NDRC Post-issue Filing, the SAFE Registration and/or the Filing Documents or any translation thereof or to procure that any document in relation to or in connection with the NDRC Post-issue Filing, the SAFE Registration and/or the Filing Documents or any document not in English is translated into English or to verify the accuracy of any English translation thereof of any such documents (if any) or to give notice to the Bondholders confirming the completion of the NDRC Post-issue Filing and the SAFE Registration, and shall not be liable to the Issuer, the Guarantor, the Bondholders or any other person for not doing so;
受托人可以不经调查或核实而最终依赖备案文件,并且没有义务或义务监督、协助或确保向国家发改委进行发改委发行后备案或完成外管局登记,或核实与发改委发行后备案有关或与之相关的任何文件的准确性、内容、完整性、有效性和/或真实性, 外管局登记和/或备案文件或其任何译文,或促使与发改委发行后备案、外管局登记和/或备案文件或任何非英文文件有关或与之相关的任何文件翻译成英文,或核实任何此类文件(如有)的任何英文译文的准确性,或向债券持有人发出通知,确认其完成发改委发行后备案和外管局登记,不对发行人、担保人、债券持有人或任何其他人承担责任;

Information Material to Holders of the Bonds: send to the Trustee copies or translations, in each case in English, of all notices, statements, circulars and documents which are issued to its shareholders or its creditors generally as soon as reasonably practicable (but not later than 30 days) after their date of issue and make available to the Agents (without cost to the Agents) as many further copies or translations as they may request in order to satisfy any request from the holders of the Bonds for them;
向债券持有人提供资料:在合理切实可行的情况下(但不迟于发行日期后30天)向受托人发送向其股东或债权人发出的所有通知、声明、通函和文件的副本或译文(如每宗情况均以英文发送),并向代理人提供(代理人无需支付任何费用)他们可能要求的更多副本或翻译件满足债券持有人对债券持有人的任何要求;

Legal Opinions: prior to making any modification or amendment or supplement to any of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds and the Conditions, procure the delivery of legal opinion(s) as to English, Hong Kong, PRC and any other relevant law, addressed to the Trustee, dated the date of such modification or amendment or supplement, as the case may be, and in form and substance acceptable to the Trustee from legal advisers acceptable to the Trustee;
法律意见书:在对本信托契约、代理协议、担保契约、债券和条件进行任何修改、修订或补充之前,应向受托人提交有关英国、香港、中国和任何其他相关法律的法律意见书,日期为此类修改或修订或补充的日期, 视情况而定,以及受托人接受的法律顾问在形式和实质上接受受托人;

Principal Subsidiaries: give to the Trustee at the same time as sending the Compliance Certificate referred to in Clause 7.5 or within 28 days of a request by the Trustee, a certificate of the Issuer or the Guarantor in English substantially in the form as set out in Schedule 8 hereto and signed by any Authorised Signatory of the Issuer or the Guarantor (as the case may be) addressed to the Trustee, accompanied with relevant audited accounts (consolidated, if appropriate) or, as the case may be, the pro forma accounts (consolidated, if appropriate), that in its opinion (making such adjustments (if any) as it shall deem appropriate) a Subsidiary is or is not or was or was not at any particular time or during any particular period a Principal Subsidiary shall be conclusive and binding on the Issuer, the Guarantor, the Trustee and the Bondholders, and the Trustee shall be entitled to rely conclusively upon such certificate without further investigation or query and without liability to the Issuer, the Guarantor, the Bondholders or any other person; and
主要附属公司:在发送第7.5条所述合规证明书的同时,或在受托人提出要求后28天内,向受托人提供发行人或担保人的英文证明书,该证明书的格式主要采用本协议附表8所列格式,并由发行人的任何授权签字人或担保人(视情况而定)签署,寄给受托人, 连同相关经审计的账目(如适用而为合并)或备考账目(如适用,为合并),以证明其认为(作出其认为适当的调整(如有))附属公司是或不是,或在任何特定时间或任何特定期间内是否为主要附属公司,应具有决定性,并对发行人具有约束力, 担保人、受托人及债券持有人,以及受托人有权最终依赖该证明书,而无须进一步调查或查询,亦无须对发行人、担保人、债券持有人或任何其他人士承担任何责任;和

Early Redemption: give prior notice (in the manner set out in the Conditions) to the Trustee of any proposed early redemption pursuant to Condition 6.
提早赎回:根据第6条,就任何建议提早赎回事宜,(以本条款所列的方式)向受托人发出事先通知。

REMUNERATION AND INDEMNIFICATION OF THE TRUSTEE
受托人的报酬和赔偿

Normal Remuneration
正常薪酬

So long as any Bond is outstanding, the Issuer, failing whom the Guarantor, will pay the Trustee as remuneration for its services as Trustee such sum on such dates in each case as they may from time to time agree in writing. Such remuneration will accrue from day to day from the date of this Trust Deed. However, if any payment to a Bondholder of moneys due in respect of any Bond is improperly withheld or refused, such remuneration will again accrue as from the date of such withholding or refusal until payment or delivery to such Bondholder or the Trustee is duly made.
只要任何债券尚未偿还,发行人(即担保人)将向受托人支付其作为受托人服务的报酬,该款项在他们不时以书面形式约定的日期支付。该等报酬自本信托契约之日起逐日累积。但是,如果向债券持有人支付的任何与任何债券有关的到期款项被不当扣留或拒绝,则该报酬将从该扣留或拒绝之日起再次累积,直至正式支付或交付给该债券持有人或受托人。

Extra Remuneration
额外报酬

If an Event of Default or Potential Event of Default shall have occurred or if the Trustee believes or is notified that such an event has occurred or is about to occur, each of the Issuer and the Guarantor hereby agrees that the Trustee shall be entitled to be paid additional remuneration calculated at its normal hourly rates in force from time to time. In any other case, if the Trustee (a) finds it expedient or necessary or (b) is requested by the Issuer or the Guarantor to undertake duties which in the opinion of the Trustee are of an exceptional nature or otherwise outside the scope of the Trustee’s normal duties under this Trust Deed, the Agency Agreement, the Deed of Guarantee, and the Bonds and/or the Conditions, including without limitation any proposed amendment, waiver or consent, the Issuer, failing whom the Guarantor, will pay such additional remuneration as they may agree (and which may be calculated by reference to the Trustee’s normal hourly rates in force from time to time) or, failing agreement as to any of the matters in this sentence of this Clause 8.2 (or as to such sums referred to in Clause 8.1), as determined by a financial institution or person (acting as an expert) selected by the Trustee and approved by the Issuer or the Guarantor, as the case may be, or failing such approval, nominated by the President for the time being of The Law Society of England and Wales. The expenses involved in such nomination and such financial institution’s or person’s fee will be borne by the Issuer, failing whom the Guarantor. The determination of such financial institution or person will be conclusive and binding on the Issuer, the Guarantor, the Trustee and the Bondholders.
倘若违约事件或潜在违约事件已经发生,或受托人相信或获悉该等事件已经发生或即将发生,发行人及担保人特此同意,受托人有权获得按其不时生效的正常小时费率计算的额外报酬。在任何其他情况下,如果受托人 (a) 认为合适或必要,或 (b) 发行人或担保人要求承担受托人认为具有特殊性质的职责,或超出受托人在本信托契约、代理协议、担保契约下的正常职责范围, 以及债券及/或条件,包括但不限于任何拟议的修订、弃权或同意,发行人(担保人未同意)将支付他们可能同意的额外报酬(并可参考受托人不时生效的正常小时费率计算),或未能就本第 8.2 条本句中的任何事项(或第 8.2 条所述的此类款项)达成一致第8.1条),由受托人选择并经发行人或担保人(视情况而定)批准的金融机构或个人(作为专家)确定,或未获批准,由英格兰及威尔士律师会主席提名。该提名所涉及的费用以及该金融机构或个人的费用将由发行人承担,否则由担保人承担。该金融机构或人士的决定对发行人、担保人、受托人和债券持有人具有决定性约束力。

Expenses
费用

The Issuer, failing whom the Guarantor, will also on demand by the Trustee pay or discharge all fees, all costs, charges and expenses incurred and all liabilities incurred by the Trustee in the preparation and execution of this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds and the performance of its functions and/or duties and the exercise of its rights, powers and/or discretions under, and in any manner in relation to, this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds including, but not limited to, expenses incurred in seeking and obtaining legal, financial, accounting or other advice to discharge its functions and duties and/or exercise its rights, powers and/or discretions as aforesaid in accordance with this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Conditions, travelling expenses, any amounts incurred or in relation to or as a result of the appointment or engagement of any Appointee and any stamp, documentary or other taxes or duties paid by the Trustee in connection with any legal proceedings brought or contemplated by the Trustee against the Issuer or the Guarantor to enforce any provision of this Trust Deed, the Agency Agreement, the Deed of Guarantee and/or the Bonds in each case with any applicable value added tax, sales, stamp, issue, registration, documentary or other taxes or duties. Such costs, charges, fees, liabilities and expenses will:
发行人(担保人)亦应受托人的要求,支付或清偿受托人在准备和执行本信托契约、代理协议、担保契约和债券以及履行其职能和/或职责以及行使其权利时产生的所有费用、所有成本、收费和开支以及产生的所有责任, 根据本信托契约、代理协议、担保契约和债券,以及以任何方式与本信托契约、代理协议、担保契约和债券有关的权力和/或酌情权,包括但不限于寻求和获得法律、财务、会计或其他建议以履行其职能和职责和/或行使其权利、权力和/或酌情权而产生的费用。 代理协议、担保契约及条件、差旅费、因委任或聘用任何受委任人而产生或与之有关或因受聘而产生的任何款项,以及受托人就受托人为执行本信托契约的任何条款而提起或拟提起或拟提起的任何法律诉讼而支付的任何印花、文件或其他税款或关税, 代理协议、担保契约和/或债券(每种情况下)以及任何适用的增值税、销售税、印花税、发行税、注册税、文件税或其他税费或关税。此类成本、收费、费用、责任和开支将:

in the case of payments made by the Trustee before such demand, carry interest from the date of the demand at the rate of three and a half per cent. per annum above the Trustee’s cost of funds on the date on which the Trustee made such payments, as notified by the Trustee; and
如果受托人在提出这种要求之前付款,则自要求之日起按百分之三点五的利率计息。每年高于受托人支付该等款项之日受托人的资金成本,并经受托人通知;和

in other cases, carry interest at such rate from 30 days after the date of the demand or (where the demand specifies that payment is to be made on an earlier date) from such earlier date.
在其他情况下,从催款日期后 30 天开始按该利率计息,或从该较早日期开始(如果催款指定在较早的日期付款)按该利率计息。

Indemnity
赔款

Each of the Issuer and the Guarantor on a joint and several basis hereby unconditionally and irrevocably covenants and undertakes on demand, to indemnify and hold harmless the Trustee, its directors, officers, employees and Appointees (each an “indemnified party”) in full at all times against all fees, all costs, expenses and disbursements incurred and all losses, liabilities, actions, proceedings, claims, demands, penalties, damages, and other liabilities whatsoever, which may be suffered or brought against or may be incurred by such indemnified party (all such fees, costs, expenses, disbursements, losses, liabilities, actions, proceedings, claims, demands, penalties, damages and other liabilities whatsoever, collectively “Losses”), including without limitation the costs and expenses of legal advisors and other experts, as a result of or in connection with (a) its appointment or involvement hereunder or the exercise or non-exercise of any of its rights, powers, authorities, discretions or duties hereunder or under the Bonds or the taking of any acts in accordance with the terms of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds, the Conditions or its usual practice; (b) this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds and any other transaction documents relating to the transactions herein or therein contemplated; or (c) any instruction, certificate, notice, communication, direction or other document upon which the Trustee may rely under this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions and/or the Bonds as well as the costs and expenses incurred by an indemnified party in defending itself against or investigating or disputing any claim or liability in respect of the foregoing, provided that this indemnity shall not apply in respect of an indemnified party to the extent that a court of competent jurisdiction determines that any such Losses incurred or suffered by or brought against such indemnified party arise directly from the fraud, wilful default or gross negligence of such indemnified party. The Contracts (Rights of Third Parties) Act 1999 applies to this Clause 8.4.
发行人及担保人均在共同及若干基础上,特此无条件及不可撤销地作出承诺及承诺,并承诺在任何时候就所有费用、所有费用、开支及支出及所有损失,向受托人、其董事、高级职员、雇员及受委任人(均为「受偿方」)作出全额赔偿并使其免受损害, 该受偿方可能遭受或提起或可能招致的责任、诉讼、程序、索赔、要求、处罚、损害赔偿和其他责任(所有此类费用、成本、支出、支出、损失、责任、诉讼、诉讼、索赔、要求、罚款、损害赔偿和其他责任,统称为“损失”),包括但不限于法律顾问和其他专家的成本和开支, 由于或与之相关 (a) 其在本协议项下的任命或参与,或行使或不行使其在本协议项下或债券项下的任何权利、权力、权限、酌情权或职责,或根据本信托契约、代理协议、担保契约的条款采取任何行动, 债券、条件或其通常做法;(b) 本信托契约、代理协议、担保契约、债券以及与本文或其中预期交易相关的任何其他交易文件;或 (c) 受托人根据本信托契约、代理协议、担保契约、条件和/或债券可能依赖的任何指示、证书、通知、通信、指示或其他文件,以及受偿方为就上述任何索赔或责任进行辩护或调查或争议而产生的成本和开支, 前提是这个我如果有管辖权的法院确定受偿方发生或遭受的任何此类损失或对该受偿方造成的任何此类损失直接由该受偿方的欺诈、故意违约或重大过失引起,则赔偿不适用于受偿方。1999 年《合同(第三方权利)法》适用于本第 8.4 条。

Taxes

Each of the Issuer and the Guarantor hereby further undertakes to the Trustee that all moneys payable by it to the Trustee or any indemnified party under this Clause 8, Clause 4.1 and Clause 16 shall be made without set-off or counterclaim, and without deduction or withholding for or on account of any present or future taxes, duties, assessments or governmental charges of, whatever nature imposed, levied, collected, withheld or assessed by or in any jurisdiction or any political subdivision thereof or by an authority thereof or therein having power to tax, unless compelled by law in which event each of the Issuer and the Guarantor will pay such additional amounts as will result in the receipt by the Trustee or such other indemnified party of the amounts which would otherwise have been payable by it to the Trustee or such indemnified party under this Clause 8, Clause 4.1 and Clause 16 in the absence of any such set-off, counterclaim, deduction or withholding. The Contracts (Rights of Third Parties) Act 1999 applies to this Clause 8.5.
发行人及担保人特此进一步向受托人承诺,其根据第8条、第4.1条及第16条应向受托人或任何受偿方支付的所有款项均不得抵销或反申索,亦不得扣除或预扣任何现时或未来的税款, 由任何司法管辖区或其任何政治分区或其任何政治分区或其有权征税的当局征收、征收、收取、预扣或评估的关税、评估或政府费用,无论其性质如何,除非法律强制要求,在这种情况下,发行人和担保人将支付额外的金额,以导致受托人或其他受偿方收到本来会在没有任何此类抵销、反申索、扣除或预扣的情况下,由其根据第 8 条、第 4.1 条和第 16 条支付给受托人或该等受偿方。1999 年《合同(第三方权利)法》适用于本第 8.5 条。

Unpaid Remuneration
未付薪酬

All remuneration payable to the Trustee that is not paid on the due date thereof shall carry interest from such due date at the rate of three and a half per cent. per annum over its cost of funds prevailing at the due date of such payment, as notified by the Trustee in writing, until the date of payment of such remuneration in full.
所有应付给受托人的报酬,如未在到期日支付,应自该到期日起按百分之三点五的利率计息。每年超过受托人书面通知的付款到期日的资金成本,直至全额支付该报酬之日为止。

Continuing Effect
持续影响

Clauses 8.3, 8.4, 8.5 and 8.6 will continue in full force and effect as regards the Trustee even if it no longer is Trustee or the Bonds are no longer outstanding or this Trust Deed has been terminated.
第8.3条、第8.4条、第8.5条和第8.6条将继续对受托人完全有效,即使受托人不再是受托人或债券不再未偿还或本信托契约已被终止。

PROVISIONS SUPPLEMENTAL TO THE TRUSTEE ACT 1925 AND THE TRUSTEE ACT 2000
1925年《受托人法》和2000年《受托人法》的补充规定

By way of supplement to the Trustee Act 1925 and the Trustee Act 2000 and subject to Clause 12, it is expressly declared as follows:
作为对《1925年受托人法》和《2000年受托人法》的补充,在不违反第12条的情况下,明确声明如下:

Advice
建议

The Trustee and each of its directors, officers, employees and Appointees may engage and consult with, at the expense of the Issuer, failing whom the Guarantor, and may rely conclusively and act or refrain from acting on, the opinion or advice of, or any report, confirmation, certificate or information obtained from, any adviser, expert or other professional adviser (including without limitation any lawyer, valuer, accountant (including the Auditors), surveyor, banker, broker, rating agency, auctioneer, investment bank or financial consultant) selected by it, whether obtained by or addressed to the Issuer, the Guarantor, the Trustee or the Principal Paying Agent, and whether or not liability in relation thereto is limited (by its terms or by any engagement letter relating thereto entered into by the Trustee or any other person or in any other manner) by reference to a monetary cap, methodology, limit on scope or basis in respect thereof or otherwise, and none of them will be responsible or liable to the Bondholders, the Issuer, the Guarantor or anyone else for any loss occasioned by so acting. Any such opinion, advice, report, confirmation, certificate or information may be sent or obtained by letter, electronic communication or fax and the Trustee and each of its directors, officers, employees and Appointees will not be liable to the Bondholders, the Issuer, the Guarantor or anyone for any loss or liability occasioned by any action taken, or omitted to be done or suffered to be taken, in accordance with any opinion, advice, report, confirmation, certificate or information purporting to be conveyed by such means, even if it contains some error or is not authentic, whether obtained by or addressed to the Issuer, the Guarantor, the Trustee, any Agent or any other person. The Trustee may accept and shall be entitled to rely conclusively on any such report, confirmation, certificate, information, opinion or advice and, in such event, such report, confirmation, certificate, information, opinion or advice shall be binding on the Issuer, the Guarantor and the Bondholders.
受托人及其每位董事、高级职员、雇员和被委任人可与发行人进行接触和咨询,费用由发行人承担,否则担保人,并可最终依赖任何顾问、专家或其他专业顾问(包括但不限于任何律师, 由其选择的估价师、会计师(包括核数师)、测量师、银行家、经纪人、评级机构、拍卖师、投资银行或财务顾问),不论是否由发行人、担保人、受托人或主付款代理人取得或寄给发行人、担保人、受托人或主付款代理人,以及与此相关的责任是否因提及货币而受到限制(根据其条款或受托人或任何其他人士与之订立的任何委托书或以任何其他方式订立的任何委托书)上限、方法、范围限制或基础或其他方面,且任何一方均不对债券持有人、发行人、担保人或任何其他人因此行为造成的任何损失负责或承担任何责任。任何该等意见、意见、报告、确认书、证书或资料均可透过信函、电子通讯或传真方式发送或取得,受托人及其每位董事、高级职员、雇员及委任人均不对债券持有人、发行人、担保人或任何人因采取或未采取或未采取的任何行动而造成的任何损失或责任承担任何责任, 根据任何声称通过该等方式传达的意见、建议、报告、确认书、证书或信息,即使它包含一些错误或不真实,无论是由发行人、担保人、受托人、任何代理人或任何其他人获得或发送给发行人、担保人、受托人、任何代理人或任何其他人。 受托人可以接受并有权最终依赖任何此类报告、确认书、证书、信息、意见或建议,在此情况下,此类报告、确认书、证书、信息、意见或建议对发行人、担保人及债券持有人具有约束力。

Trustee to Assume Performance
受托人承担履约责任

The Trustee need not notify anyone of the execution or delivery of this Trust Deed, the Agency Agreement, the Deed of Guarantee or any other document referred to herein or therein or do anything to find out if an Event of Default or a Potential Event of Default or Relevant Event has occurred or whether each of the Issuer and the Guarantor has performed their obligations under this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions and any other document. Until it has express written notice to the contrary, the Trustee may assume that no such event has occurred and that the Issuer, the Guarantor and the Agents are performing all their respective obligations under this Trust Deed, the Bonds, the Agency Agreement, the Deed of Guarantee, the Conditions and any other document referred to herein or therein and the Trustee shall not be liable to the Bondholders or any other person for doing so. The Trustee shall not be responsible or liable for the performance of any of the above persons or any of their respective agents or delegates under or in relation to this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds and any other document referred to herein or therein.
受托人无须将本信托契约、代理协议、担保契约或本信托契约或其中提及的任何其他文件的签署或交付通知任何人,也无须采取任何行动来查明是否发生了违约事件或潜在违约事件或相关事件,或发行人和担保人是否已履行其在本信托契约项下的义务, 代理协议、担保契约、条件和任何其他文件。在收到相反的明确书面通知之前,受托人可以假定没有发生此类事件,并且发行人、担保人和代理人正在履行本信托契约、债券、代理协议、担保契约、条件以及本信托契约或其中提及的任何其他文件项下的所有义务,受托人不对债券持有人或任何其他人承担任何责任。受托人不对上述任何人士或其各自的任何代理人或代表在本信托契约、代理协议、担保契约、债券及本信托契约或其中提及的任何其他文件项下或与之相关的履行负责或承担任何义务。

No Obligations to Monitor
没有监督义务

The Trustee shall be under no obligation to monitor or supervise the functions or performance (financial or otherwise) of any other person under the Bonds, this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions or any other agreement or document relating to the transactions herein or therein contemplated, and shall be entitled, in the absence of express notice in writing of a breach of obligation, to assume that each such person is properly and fully performing and complying with its obligations. The Trustee shall be under no obligation to monitor any performance (financial or otherwise) of any of the Issuer, the Guarantor or the Agents and the Trustee shall not be responsible or liable to the Issuer, the Guarantor, the holders of the Bonds or any other person for any loss arising from any failure to do so. The Trustee shall not be responsible or liable for the performance of any of the above persons under or in relation to the Bonds, this Trust Deed, the Agency Agreement, the Deed of Guarantee and any other document referred to herein or therein.
受托人没有义务监督任何其他人在债券、本信托契约、代理协议、担保契约、条件或与本文或其中所设想的交易有关的任何其他协议或文件项下的职能或表现(财务或其他),并且在没有明确书面通知违反义务的情况下,受托人有权, 假定每个这样的人都在适当和充分地履行和遵守其义务。受托人无义务监察任何发行人、担保人或代理人的任何表现(财务或其他方面),而受托人亦无须就因未能监察而引致的任何损失向发行人、担保人、债券持有人或任何其他人士负责或承担任何责任。受托人对上述任何人士在债券、本信托契约、代理协议、担保契约及本债券或其中提及的任何其他文件项下或与之相关的履约概不负责或承担任何义务。

Resolutions of Bondholders
债券持有人的决议

The Trustee will not be responsible or liable to the Issuer, the Guarantor, the Bondholders or any other person for having acted on a resolution purporting (i) to have been passed at a meeting of the Bondholders in respect of which minutes have been made and signed or (ii) to be a Written Resolution made or an Electronic Consent obtained in accordance with paragraph 23 of Schedule 3, even if it is later found that there was a defect in the constitution or conduct of the meeting or the passing of the resolution or if passed or made by Electronic Consents received through the relevant clearing system(s) it was not approved by the requisite number of Bondholders or that the resolution was not valid or binding on the Bondholders.
受托人不会对发行人、担保人、债券持有人或任何其他人士负责或承担任何法律责任,因为该决议案声称(i)已在债券持有人会议上通过,而该决议案已就该决议案作出并签署会议记录,或(ii)是根据附表3第23段作出的书面决议案或取得的电子同意书, 即使后来发现会议的组成或行为或决议的通过存在缺陷,或者如果通过相关清算系统收到的电子同意书通过或作出,该决议也未获得必要数量的债券持有人的批准,或者该决议对债券持有人无效或没有约束力。

Illegality/Expenditure of Trustee Funds
受托人资金的非法/支出

Notwithstanding anything else contained herein or in the Agency Agreement, the Deed of Guarantee, the Conditions and any other document referred to herein or therein, the Trustee is not obliged to do or omit to do anything, and may refrain without liability from doing anything, in any state or jurisdiction that would or might in its opinion: (i) be illegal or contrary to, or would or might, in its opinion, result in it being in breach of, any Applicable Law of any state or jurisdiction or any rule, regulation, or any decree, order, award or judgment of any court or any arbitral award, or any rule, practice, fiscal requirement, request, direction, directive, notice, announcement or similar action (whether or not having the force of law) of any agency of any state or jurisdiction or any relevant government, governmental agency, regulatory authority, stock exchange or self-regulatory organisation or other market or clearing system to which the Trustee is subject or of any state or jurisdiction (including but not limited to, the PRC, Hong Kong and England & Wales) or any directive, fiscal requirement or regulation of any agency of any such state or jurisdiction, or that would constitute a breach of any fiduciary duty or duty of confidentiality, or would otherwise in its opinion render it liable to any person in any such state or jurisdiction as aforesaid, and may without liability do anything which is, in its opinion, necessary to comply
尽管本协议或代理协议、担保契约、条件以及此处或其中提及的任何其他文件中包含任何其他内容,受托人没有义务做或不做任何事情,并且可以在其认为或可能的任何州或司法管辖区不做任何事情,而无需承担任何责任: (i) 非法或违反,或将或可能导致其违反任何州或司法管辖区的任何适用法律或任何规则、法规或任何法院的任何法令、命令、裁决或判决或任何仲裁裁决,或任何规则、惯例、财政要求、请求、指示、指令、通知, 任何州或司法管辖区的任何机构或受托人所受制于的任何相关政府、政府机构、监管机构、证券交易所或自律组织或受托人所受的其他市场或结算系统(包括但不限于, 中国、香港、英格兰和威尔士)或任何此类州或司法管辖区的任何机构的任何指令、财政要求或法规,或构成违反任何信托责任或保密义务,或以其他方式使其对上述任何此类州或司法管辖区的任何人承担责任, 并可无责任地采取其认为遵守所必需的任何事情
with and not be in breach of any such Applicable Law, rule, regulation, decree, order, judgment, award, practice, fiscal requirement, request, direction, directive, notice, announcement or similar action; (ii) it would not have power to do the relevant thing in that state or jurisdiction by virtue of any Applicable Law in any state or jurisdiction or if it is determined by any court or other competent authority in any such state or jurisdiction that it does not have such power or (iii) cause or require it to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties or in the exercise of any of its rights, powers, authority or discretion hereunder and/or pursuant to the Conditions, the Bonds, this Trust Deed, the Deed of Guarantee and/or the Agency Agreement, if it believes in its sole and absolute discretion that repayment of such funds or satisfactory indemnity against, and/or security and/or pre-funding for, such risk or the liability is not assured to it. Furthermore, notwithstanding anything else contained in this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Conditions, the Trustee may refrain from doing anything which would or might in its opinion be contrary to the rules, operating procedures or market practice of any relevant stock exchange or other market or clearing system on which the Bonds are listed or through which the Bonds are held or cleared, or which would or might otherwise render it liable to any person, and the Trustee may do anything which is, in its opinion, necessary to comply with any of the aforementioned laws, directives, regulations, fiscal requirements, rules, operating procedures or market practice.
违反且不违反任何此类适用法律、规则、法规、法令、命令、判决、裁决、惯例、财务要求、请求、指示、指令、通知、公告或类似行动;(ii) 根据任何州或司法管辖区的任何适用法律,它无权在该州或司法管辖区内做相关事情,或者如果任何此类州或司法管辖区的任何法院或其他主管当局确定它没有这种权力,或 (iii) 导致或要求它花费或冒着自有资金的风险,或以其他方式在履行其任何职责或行使其在本协议项下和/或根据条件、债券、本信托契约、担保契约和/或代理协议的任何权利、权力、权力或酌情权,如果它相信其唯一和绝对的自由裁量权偿还此类资金或令人满意的赔偿, 和/或此类风险的担保和/或预先融资,或不向其保证责任。此外,尽管本信托契约、代理协议、担保契约或条件中载有任何其他规定,受托人可避免采取任何其认为会或可能违反任何相关证券交易所或其他市场或结算系统的规则、操作程序或市场惯例的事情,这些交易所或债券在其上上市或通过其持有或清算, 或会或可能以其他方式使其对任何人承担责任,而受托人可以采取其认为必要的任何措施,以遵守上述任何法律、指令、法规、财政要求、规则、操作程序或市场惯例。

Certificate Signed by Authorised Signatory
由授权签字人签署的证书

If the Trustee, in the exercise of its functions, rights, powers and/or discretions, requires to be satisfied or to have information as to any fact or the expediency of any act, it may call for and accept as sufficient evidence of that fact or the expediency of that act a certificate, declaration or any written communication signed by an Authorised Signatory of the Issuer or the Guarantor, as the case may be, as to that fact or to the effect that, in his or her opinion, that act is expedient and the Trustee need not call for further evidence and will not be responsible or liable to the Issuer, the Guarantor, any Bondholder or any other person for any loss occasioned by acting on such a certificate. Where the Trustee receives any certificate signed by any Authorised Signatory of the Issuer or the Guarantor, as the case may be, pursuant to or as contemplated in this Trust Deed, the Conditions, the Agency Agreement and/or the Deed of Guarantee, the Trustee may accept the same without further investigation and assume the accuracy and completeness thereof and may rely on the same without calling for further evidence and will not be responsible or liable to the Issuer, the Guarantor, any Bondholder or any other person for any loss occasioned by so acting or so relying on any such certificate.
如果受托人在行使其职能、权利、权力和/或酌情权时,要求对任何事实或任何行为的权宜之计感到满意或掌握信息,则受托人可要求并接受由发行人或担保人的授权签字人签署的证书、声明或任何书面通讯,作为该事实或该行为的权宜之计的充分证据, 视情况而定,就该事实而言,或就其认为该行为是权宜之计而言,受托人无须要求提供进一步证据,亦不会就发行人、担保人、任何债券持有人或任何其他人士因根据该证明书行事而招致的任何损失负责或承担任何法律责任。倘受托人根据本信托契约、条件、代理协议及/或担保契约,收到由发行人或担保人的任何授权签字人签署的任何证书(视情况而定),受托人可接受该证书,而无须进一步调查,并假定其准确性和完整性,并可依赖该证书而无须提供进一步证据,亦不承担任何责任或对发行人、担保人、任何债券持有人或任何其他人因该等行为或依赖任何该等证书而招致的任何损失承担责任。

Deposit of Documents
文件交存

The Trustee may (at the expense of the Issuer, failing whom the Guarantor) without the permission of any other party, appoint as custodian, on any terms, any bank or entity whose business includes the safe custody of documents or any lawyer or firm of lawyers and may deposit this Trust Deed and any other documents with such custodian and pay all sums due in respect thereof at the cost of the Issuer, failing whom the Guarantor, and the Trustee shall not be responsible for or required to insure against any loss incurred in connection with such deposit. The Trustee is not obliged to appoint a custodian of securities payable to bearer.
受托人可以(由发行人承担费用,否则由担保人承担)在未经任何其他方许可的情况下,以任何条款指定任何银行或实体作为托管人,其业务包括安全保管文件或任何律师或律师事务所,并可将本信托契约和任何其他文件存放给该托管人,并支付所有应付款项,费用由发行人承担, 否则,担保人和受托人将不对与该存款有关的任何损失负责或被要求投保。受托人没有义务指定应付给持票人的证券的保管人。

Discretion
自由裁量权

Notwithstanding anything to the contrary in this Trust Deed, the Conditions, the Agency Agreement and/or the Deed of Guarantee, the Trustee will have sole, absolute and unfettered discretion as to the exercise or non-exercise of its functions, rights, powers and discretions under this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds, the Conditions and any other transaction documents and will not be responsible or liable for any loss, liability, cost, claim, action, demand, expense or inconvenience which may result from their exercise or non-exercise. Whenever in this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds or by law the Trustee shall have any right, discretion or permissive power, it is entitled, prior to exercising such right, discretion or power, to seek directions or clarifications from Bondholders by way of an Extraordinary Resolution and may decline to exercise the same in the absence of approval by or directions or instructions from the Bondholders by Extraordinary Resolution, and shall be entitled to refrain from acting if any approval, direction or instruction received from Bondholders is not clear, and shall not be liable for not acting in any such circumstances. The Trustee shall not be liable to the Issuer, the Guarantor or any other person for any loss, costs, charges, expenses or liabilities incurred by any person as a result of any delay in it exercising such discretion or power where the Trustee is seeking such directions or clarifications or the non-exercise of such right, discretion or power in the absence of any such directions or clarifications from Bondholders. Whenever the Trustee is under the provisions of this Trust Deed, the Deed of Guarantee and/or the Bonds bound to act at the request, instruction or direction of the Bondholders or is entitled to exercise a right, power or discretion under this Trust Deed, the Agency Agreement, the Deed of Guarantee and/or the Conditions, the Trustee shall nevertheless not be so bound or, as the case may be, shall not be obliged to exercise such right, discretion or power or to act at the request or direction or on the instructions of the Bondholders unless first indemnified and/or secured and/or pre-funded to its satisfaction against all actions, proceedings, claims and demands to which, in its opinion, it may render itself liable and all costs, charges, damages, expenses and liabilities it may incur by doing so. As between the Trustee and the Bondholders, the exercise of such discretion or power shall be conclusive and binding.
尽管本信托契约、条件、代理协议和/或担保契约中有任何相反的规定,受托人将就行使或不行使其在本信托契约、代理协议、担保契约、债券、条件和任何其他交易文件下的职能、权利、权力和酌情权拥有唯一、绝对和不受限制的酌情权,并且不会对任何损失负责或承担任何责任。 责任、成本、索赔、诉讼、要求、费用或因行使或不行使而可能导致的不便。在本信托契约、代理协议、担保契约和债券中,或根据法律,受托人应拥有任何权利、酌情权或许可权力,在行使该等权利、酌情权或权力之前,它有权通过特别决议寻求债券持有人的指示或澄清,并在未经特别决议案获得债券持有人的批准或指示或指示的情况下拒绝行使该权利, 如果债券持有人的任何批准、指示或指示不明确,则有权不采取行动,并且不对在任何此类情况下不采取行动负责。受托人无须就任何人因延迟行使该等酌情权或权力而招致的任何损失、费用、收费、开支或责任向发行人、担保人或任何其他人士承担任何责任,而受托人正在寻求该等指示或澄清,或在债券持有人没有作出任何该等指示或澄清的情况下不行使该等权利、酌情权或权力。 每当受托人根据本信托契约、担保契约和/或债券的规定,有义务根据债券持有人的要求、指示或指示行事,或有权根据本信托契约、代理协议、担保契约和/或条件行使权利、权力或酌情权, 然而,受托人不受此约束,或(视情况而定)无义务行使此类权利、酌情权或权力,或根据债券持有人的要求或指示或指示行事,除非首先获得赔偿和/或担保和/或预先资助,使其对所有诉讼、程序感到满意, 它认为可能使自己承担责任的索赔和要求,以及它可能因此而产生的所有费用、收费、损害赔偿、开支和责任。在受托人与债券持有人之间,该酌情权或权力的行使应具有决定性和约束力。

Agents
代理

Whenever it considers it expedient in the interests of the Bondholders, the Trustee may, in the conduct of its trust business, exercising any of its powers, rights, authorities and discretions and performing any of its duties or functions hereunder or in relation to the Bonds, instead of acting personally, without the permission of any other party, employ and pay an agent (at the expense of the Issuer, failing whom the Guarantor) selected by it, whether or not a lawyer or other professional person, to transact or conduct, or concur in transacting or conducting, any business and to do or concur in doing all acts required to be done by the Trustee (including the receipt and payment of money), and the Trustee shall not be liable for the acts, omissions, misconduct, negligence, default or fraud of any such agent or be bound to monitor or supervise the proceedings or acts of any such agent provided the Trustee has exercised due care in its selection of the relevant agent.
当受托人认为符合债券持有人的利益时,受托人可以在开展信托业务时行使其任何权力、权利、权限和酌情权,并履行其在本协议项下或与债券有关的任何职责或职能,而不是在未经任何其他方许可的情况下亲自行事, 雇用并支付由发行人选择的代理人(费用由发行人承担,否则由担保人承担),无论是否为律师或其他专业人士,以处理或进行或进行任何业务,并执行或同意执行受托人要求执行的所有行为(包括收付款项), 受托人不对任何该等代理人的作为、不作为、不当行为、疏忽、违约或欺诈负责,亦无须监督或监督任何该等代理人的诉讼程序或行为,惟受托人在选择有关代理人时已采取应有的谨慎措施。

Delegation
代表团

The Trustee may (at the expense of the Issuer, failing whom the Guarantor), without the permission of any other party, in the execution and exercise of all or any of the trusts, rights, powers, authorities and discretions vested in it, act by responsible officers or a responsible officer for the time being of the Trustee, and the Trustee may also, whenever it thinks fit and without permission of any other party, whether by power of attorney or otherwise, instead of acting personally in its absolute discretion, delegate (at the expense of the Issuer, failing whom the Guarantor) to any person or persons or fluctuating body of persons (whether being a co-trustee of this Trust Deed or not) all or any of the trusts, rights, powers, authorities and discretions vested in it, and any such delegation may be made upon such terms and conditions and subject to such regulations (including power to sub-delegate) as the Trustee may think fit. The Trustee shall not have any obligation to supervise or monitor any such delegate or be liable or responsible for the acts or omissions of, or for any Losses incurred by reason of any act, misconduct, omission, default, fraud, negligence, or breach on the part of, any such delegate.
受托人可在不经任何其他方许可的情况下,在执行和行使全部或任何信托、权利、权力、权力和酌情权时,由负责人员或受托人当时的负责人员行事,受托人也可以: 在其认为合适且未经任何其他方许可的情况下,无论是通过授权书还是其他方式,而不是亲自行使其绝对酌情权行事,将全部或任何信托委托给(由发行人承担费用,否则由担保人承担)任何人或个人或波动的团体(无论是否是本信托契约的共同受托人), 受托人所享有的权利、权力、权限和酌情权,以及任何此类授权均可根据受托人认为合适的条款和条件,并受制于该等法规(包括分授权)。受托人没有任何义务监督或监督任何此类受托人,也不对任何此类受托人的任何行为、不当行为、遗漏、违约、欺诈、疏忽或违约而造成的任何损失负责或承担责任。

Nominees and Custodians
被提名人和托管人

In relation to any asset held by it under this Trust Deed, the Trustee may (at the expense of the Issuer, failing whom the Guarantor) without the permission of any other party, appoint any person to act as its nominee or custodian on any terms whenever in its absolute opinion it deems it necessary to do so.
就其根据本信托契约持有的任何资产而言,受托人可在未经任何其他方许可的情况下(由发行人承担费用,否则由担保人承担)在其绝对认为必要时,以任何条款指定任何人担任其代名人或保管人。

Confidentiality
保密性

Each of the Issuer and the Guarantor:
发行人和担保人各:

acknowledges that information relating to the Issuer and the Guarantor or in connection with the transactions contemplated under this Trust Deed may be transferred to jurisdictions which do not have strict data protection or data privacy laws;
承认与发行人和担保人有关的信息或与本信托契约项下预期的交易有关的信息可能会被转移到没有严格数据保护或数据隐私法律的司法管辖区;

acknowledges that such information permitted to be transferred / disclosed / used includes any information regarding third parties provided to the Trustee by the Issuer or the Guarantor, as the case may be; and
确认获准转让/披露/使用的该等资料包括发行人或担保人(视情况而定)向受托人提供的有关第三者的任何资料;和

represents that it has sent to or received from any person regarding whom it has provided information to the Trustee any notices, consents and waivers necessary to permit the processing of that information, and that it will do so in advance of providing such information in the future.
声明已向已向受托人提供资料的任何人发送或收到任何必要的通知、同意和弃权,以允许处理该信息,并且它将在将来提供此类信息之前这样做。

The Trustee will treat client information as confidential, and (unless consent is prohibited by law) each of the Issuer and the Guarantor consents to the transfer and disclosure by the Trustee of any confidential client information to and between branches, subsidiaries, representative offices, Affiliates and agents of the Trustee, any third party selected by any of them, any court, regulator, counsel, Authority or auditor, or otherwise as required under any Applicable Law, wherever situated, for confidential use (including in connection with the provision of any service and for data processing, statistical and risk analysis purposes). The Trustee and any branch, subsidiary, representative office, Affiliate, agent or third party may transfer and disclose any such information as is required or requested by, or to, any court, regulator, legal process or any Applicable Law or Authority including any auditor of a party and including any payor or payee in respect of any payment on behalf of the client as required by any Applicable Law.
受托人将客户信息视为机密信息,并且(除非法律禁止同意)发行人和担保人同意受托人向受托人的分支机构、子公司、代表处、关联公司和代理人以及其中任何一方选择的任何第三方之间转移和披露任何机密客户信息, 任何法院、监管机构、律师、主管机构或审计师,或任何适用法律要求的其他内容,无论位于何处,用于机密用途(包括与提供任何服务以及数据处理、统计和风险分析目的有关)。受托人及任何分支机构、子公司、代表处、关联公司、代理人或第三方可根据任何法院、监管机构、法律程序或任何适用法律或机构的要求或要求,或向任何法院、监管机构、法律程序或任何适用法律或机构(包括任何一方的审计师,包括任何付款人或收款人)转让和披露任何此类信息。

Determinations Conclusive
决定 结论性

As between itself and the Bondholders, the Trustee may determine all questions and doubts arising in relation to any of the provisions of this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds. Such determinations, whether made upon such a question actually raised or implied in the acts or proceedings of the Trustee, will be conclusive and shall bind all other parties and the Bondholders.
在受托人与债券持有人之间,受托人可决定与本信托契约、代理协议、担保契约和债券的任何条款有关的所有问题和疑问。该等决定,不论是就受托人的行为或程序中实际提出或暗示的问题作出的,均属决定性,并对所有其他各方及债券持有人具有约束力。

Currency Conversion
货币兑换

Where it is necessary or desirable to convert any sum from one currency to another, it will (unless otherwise provided hereby or required by law) be converted at such rate or rates, in accordance with such method and as at such date as may be specified by the Trustee in its sole and absolute discretion but having regard to current rates of exchange, if available. Any rate, method and date so specified will be binding on the Issuer, the Guarantor and the Bondholders.
如果有必要或希望将任何款项从一种货币兑换成另一种货币,则该款项(除非本协议另有规定或法律要求)按照受托人全权酌情决定指定的方法和日期,但须考虑到当前汇率,以该汇率兑换。 如果可用。任何指定的利率、方法和日期将对发行人、担保人和债券持有人具有约束力。

Events of Default, etc
违约事件等

The Trustee may, but is not obliged to, determine in its sole and absolute discretion whether or not an Event of Default or Potential Event of Default or any other proposed action or any circumstance is in its opinion capable of remedy and/or materially prejudicial to the interests of the Bondholders. Any such determination will be conclusive and binding on the Issuer, the Guarantor and the Bondholders. The Trustee will not be responsible or liable to the Issuer, the Guarantor or any Bondholder or any other person for any loss arising from a failure to make such a determination. Without prejudice to the foregoing, the Trustee is not obliged to make a determination under this Clause 9.15 unless first indemnified and/or secured and/or pre-funded to its satisfaction against all actions, proceedings, claims and demands to which it may in its opinion render itself liable and all costs, charges, damages, expenses and liabilities which it may in its opinion incur by so doing.
受托人可(但无义务)自行决定违约事件或潜在违约事件或任何其他拟议行动或任何情况是否能够补救和/或严重损害债券持有人的利益。任何该等决定均为决定性决定,对发行人、担保人及债券持有人均具约束力。受托人不会对发行人、担保人或任何债券持有人或任何其他人士因未能作出该决定而引致的任何损失负责或承担法律责任。在不影响前述规定的情况下,受托人没有义务根据本第9.15条作出决定,除非受托人首先获得赔偿和/或担保和/或预先资助,使其对所有诉讼、法律程序、索赔和要求感到满意,以及受托人认为可能因此而招致的所有费用、费用、损害赔偿、开支和责任。

Payment for and Delivery of Bonds
债券的支付和交付

The Trustee will not be responsible for the receipt or application by the Issuer of the proceeds of the issue of the Bonds, any exchange of Bonds or the delivery of Bonds to the persons entitled to them.
受托人将不负责发行人收取或申请发行债券的收益、任何债券交换或将债券交付给有权获得债券的人。

Acceleration
加速度

The Trustee shall not be obliged to declare the Bonds immediately due and payable under Condition 9 unless the Trustee is requested in writing by Bondholders holding at least 25 per cent. of the aggregate principal amount of the Bonds then outstanding or directed by an Extraordinary Resolution and unless in any such case it has been indemnified and/or secured and/or pre-funded to its satisfaction in respect of all costs, claims, liabilities, actions, proceedings, demands, penalties, damages, fees, disbursements and expenses which it has incurred to that date and to which it may thereby and as a consequence thereof in its opinion render itself, or have rendered itself, liable.
除非持有至少25%的债券持有人以书面形式要求受托人,否则受托人没有义务根据条件9宣布债券立即到期应付。当时未偿还的债券或由特别决议指示的债券本金总额,除非在任何此类情况下,债券已就其截至该日期而招致的所有成本、索赔、责任、诉讼、法律程序、要求、罚款、损害赔偿、费用、支出和开支获得赔偿和/或担保和/或预先融资,以使其满意,否则它认为可能因此和因此而产生的所有成本、索赔、责任、诉讼、要求、罚款、损害赔偿、费用、支出和开支, 或已承担责任。

Bonds Held by the Issuer or the Guarantor etc.
发行人或担保人持有的债券等

In the absence of express written notice to the contrary, the Trustee may assume without enquiry (other than requesting a certificate under Clause 7.10) that no Bonds are for the time being held by or on behalf of the Issuer, the Guarantor or their respective Subsidiaries.
如无相反的明确书面通知,受托人可无须查询(根据第7.10条索取证明书除外)就推定发行人、担保人或其各自的附属公司或代表发行人、担保人或其各自的附属公司暂时没有持有债券。

Responsibility for Agents, etc.
代理人等的责任

If the Trustee exercises due care in selecting any expert, professional adviser, custodian, agent, delegate or nominee appointed under this Trust Deed (each, an “Appointee”), it will not have any obligation to supervise or monitor the Appointee and shall not be responsible or liable for any loss, liability, cost, claim, action, demand or expense incurred by reason of the Appointee’s act, omission, misconduct, default, breach, negligence or fraud, or the act, omission, misconduct, default, breach, negligence or fraud of any substitute appointed by the Appointee.
倘若受托人在选择根据本信托契约委任的任何专家、专业顾问、保管人、代理人、代表或代名人(均称为“受委任人”)时尽了应有的谨慎,则受托人将无义务监督或监督受委任人,也不对因受委任人的行为而产生的任何损失、责任、成本、索赔、诉讼、要求或费用负责或承担任何责任, 遗漏、不当行为、违约、违约、疏忽或欺诈,或被委任人指定的任何替代人的作为、不作为、不当行为、违约、违约、疏忽或欺诈。

Interests of Holders through the Clearing Systems
持有人通过结算系统的利益

In considering the interests of Bondholders while the Bonds are registered in the name of, or registered in the name of any nominee for, a clearing system, the Trustee may have regard to any certificate, report or any other information provided to it by such clearing system or its operator as to the identity (either individually or by category) of its accountholders or sub-accountholders with entitlements to the Bonds and may consider such interests as if such accountholders or sub-accountholders were the holders of the Bonds. The Trustee may call for any certificate or other document to be issued by the relevant clearing system as to the principal amount of Bonds standing to the account of any person. Any such certificate or other document shall be conclusive and binding for all purposes. The Trustee shall not be liable to the Bondholders, the Issuer, the Guarantor or any other person by reason of having accepted as valid or not having rejected any certificate or other document to such effect purporting to be issued by the relevant clearing system and subsequently found to be forged or not authentic or not to be correct.
在考虑债券持有人的利益时,当债券以清算系统的名义注册或以任何代名人的名义注册时,受托人可以考虑该清算系统或其运营商向其提供的任何证书、报告或任何其他信息,以了解其有权获得债券的账户持有人或子账户持有人的身份(单独或按类别),并可考虑此类权益如果该等账户持有人或子账户持有人是债券的持有人。受托人可要求相关结算系统就任何人账户内的债券本金金额发出任何证书或其他文件。任何此类证书或其他文件均应具有决定性,并具有约束力。受托人不会因已接受或未拒绝任何声称由相关结算系统发出的证书或其他文件而对债券持有人、发行人、担保人或任何其他人士承担责任。

No Responsibility for Recitals, etc.
对独奏会等不承担任何责任。

The Trustee shall not be responsible for recitals, statements, warranties, representations or covenants of any other party contained in this Trust Deed, the Agency Agreement, the Deed of Guarantee or any other transaction document relating to the Bonds, the Deed of Guarantee or other document entered into in connection therewith which shall be taken as statements by the Issuer or the Guarantor, as the case may be, nor shall the Trustee by the execution of this Trust Deed, the Agency Agreement or the Deed of Guarantee be deemed to make any representation as to the validity, sufficiency or enforceability of the Bonds, the Deed of Guarantee, the Agency Agreement or this Trust Deed. The Trustee shall be entitled to assume the accuracy and correctness thereof or for the execution, legality, effectiveness, adequacy, genuineness, validity, enforceability or admissibility in evidence of this Trust Deed, any such agreement or other document.
受托人不对本信托契约、代理协议、担保契约或与债券、担保契约或与之相关的任何其他交易文件、担保契约或与之相关的其他文件所载任何其他方的叙述、声明、保证、陈述或契约负责,这些文件应被视为发行人或担保人的声明, (视情况而定),受托人亦不得因签署本信托契约、代理协议或担保契约而被视为对债券、担保契约、代理协议或本信托契约的有效性、充分性或可执行性作出任何陈述。受托人有权假设其准确性和正确性,或作为本信托契约、任何此类协议或其他文件的证据的执行、合法性、有效性、充分性、真实性、有效性、可执行性或可采性。

The Trustee shall not be responsible for the execution, delivery, legality, effectiveness, adequacy, genuineness, validity, enforceability or admissibility in evidence of, or for any matter or thing done or omitted in any way in connection with or in relation to, this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds or any other document relating hereto or thereto, any licence, consent or other authority for the execution, delivery, legality, effectiveness, adequacy, genuineness, validity, performance, enforceability or admissibility in evidence of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds or any other document relating hereto or thereto. In addition, the Trustee shall not be responsible to the Issuer, the Guarantor, the Bondholders or any other person for the effect of the exercise or non-exercise of any of its rights, powers, duties and/or discretions hereunder except to the extent that a court of competent jurisdiction determines that the Trustee’s own gross negligence, wilful default or fraud was the primary and direct cause of any loss to the Bondholders or such other person.
受托人不对本信托契约、代理协议、担保契约、债券或与本信托契约或与本信托契约、代理协议、担保契约、债券或与本信托契约、代理协议、担保协议、担保契约、债券或与本信托契约、代理协议、担保协议、担保契约 任何许可、同意或其他授权,用于执行、交付、合法性、有效性、充分性、真实性、有效性、履行、可执行性或可采性作为本信托契约、代理协议、担保契约、债券或与本协议或相关的任何其他文件的证据。此外,受托人不对发行人、担保人、债券持有人或任何其他人士行使或不行使其在本协议项下的任何权利、权力、责任和/或酌情权负责,除非有管辖权的法院确定受托人本身的重大过失、故意违约或欺诈是债券持有人或该等其他人遭受任何损失的主要原因。

None of the Trustee or any of the Agents shall be responsible for monitoring or in any way ascertaining the existence, coming into effect or change of the laws or regulations related to the obligations of the Issuer or the Guarantor under this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions and/or the Bonds or any governmental or regulatory consents, approval, authorisation, resolution, licence or exemption required by the Issuer or the Guarantor in relation thereto, or to ascertain whether such certification, if applicable, shall have been done by the Issuer, the Guarantor, any Bondholder or any other person and shall not be liable for any failure by the Issuer, the Guarantor, any Bondholder or any other person to provide such certification.
任何受托人或任何代理人均不负责监控或以任何方式确定与发行人或担保人在本信托契约、代理协议、担保契约、条件和/或债券或任何政府或监管同意项下的责任相关的法律或法规的存在、生效或变更, 发行人或担保人就此要求的批准、授权、决议、许可或豁免,或确定发行人、担保人、任何债券持有人或任何其他人是否已完成该等证明(如适用),并且不对发行人、担保人、任何债券持有人或任何其他人未能提供该等证明承担责任。

No Responsibility for Issuer’s Conditions or Guarantor’s Conditions
对发行人的条件或担保人的条件不承担任何责任

Each Bondholder shall be solely responsible for making and continuing to make its own independent appraisal of and investigation into the financial condition, creditworthiness, condition, affairs, status and nature of the Issuer and/or the Guarantor, and the Trustee shall not at any time have any responsibility for the same and no Bondholder shall rely on the Trustee in respect thereof.
每名债券持有人应全权负责对发行人和/或担保人的财务状况、信誉、状况、事务、地位和性质进行独立评估和调查,受托人在任何时候均不对此承担任何责任,任何债券持有人均不得就此依赖受托人。

Enforcement
执法

The Trustee may, but shall not be obliged to, at its sole and absolute discretion and without further notice, take any steps and/or actions and/or institute any proceedings against the Issuer and/or the Guarantor as it may think fit to enforce payment of the Bonds after the Bonds have become due and payable or to declare the Bonds due and payable, provided that the Trustee shall not be under any obligation to do any of the foregoing unless it shall have been so requested in writing by the holders of at least 25 per cent. in aggregate principal amount of the Bonds then outstanding or shall have been so directed by an Extraordinary Resolution and, in any such case, unless it shall have been first indemnified and/or secured and/or pre-funded to its satisfaction in respect of all costs, claims and liabilities which it may thereby and as a consequence thereof in its opinion render itself, or have rendered itself, liable. No Bondholder will be entitled to proceed directly against the Issuer or the Guarantor unless the Trustee, having become bound to do so, fails to do so within a reasonable period and such failure shall be continuing.
受托人可(但无义务)自行酌情决定,在不另行通知的情况下,对发行人和/或担保人采取其认为合适的任何步骤和/或行动和/或提起任何法律程序,以强制支付债券到期应付后,或宣布债券到期应付, 但受托人无须履行上述任何义务,除非至少25%的持有人以书面形式提出要求。当时未偿付的债券的本金总额,或应由特别决议指示的债券本金总额,并且在任何此类情况下,除非债券已首先获得赔偿和/或担保和/或预先融资,以使其满意,以支付其可能因此而以及因此而产生的所有费用、索赔和责任, 或已承担责任。任何债券持有人均无权直接对发行人或担保人提起诉讼,除非受托人有义务这样做,但未能在合理期限内这样做,并且这种失败将持续下去。

Consent
同意

Any consent to be given, or any right, discretion or power to be exercised, by the Trustee for the purposes of this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds, may be given or exercised on such terms and subject to such conditions (if any) as the Trustee thinks fit and, notwithstanding anything to the contrary in this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Bonds, may be given or exercised retrospectively.
受托人为本信托契约、代理协议、担保契约和债券的目的而给予的任何同意,或行使的任何权利、酌情权或权力,均可根据受托人认为合适的条款和条件(如有)给予或行使,即使本信托契约中有任何相反的规定, 代理协议、担保契约或债券可以追溯性地给予或行使。

Professional Charges
专业收费

Any Trustee being a banker, lawyer, broker or other person engaged in any profession or business shall be entitled to charge and be paid all usual professional and other charges for business transacted and acts done by him or his partner or firm on matters arising in connection with the trusts of this Trust Deed, the Agency Agreement, the Bonds, the Deed of Guarantee and any charges in addition to disbursements for all other work and business done and all time spent by him or his partner or firm on matters arising in connection with this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds including matters which might or should have been attended to in person by a trustee not being a banker, lawyer, broker or other professional person.
任何受托人是银行家、律师、经纪人或从事任何专业或业务的其他人,均有权就他或其合伙人或公司就与本信托契约、代理协议、 债券、担保契约和任何费用,以及他或其合伙人或公司完成的所有其他工作和业务的支出,以及他或其合伙人或公司在与本信托契约、代理协议、担保契约和债券有关的事项上花费的所有时间,包括可能或应该由非银行家的受托人亲自处理的事项, 律师、经纪人或其他专业人士。

Special Damages and Consequential Loss
特殊损害赔偿和间接损失

Notwithstanding any other term or provision of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions or any other transaction document contemplated by the foregoing documents to the contrary, the Trustee and its directors, officers, employees and Appointees shall not be liable under any circumstances for any special, punitive, indirect or consequential loss or damage of any kind whatsoever including but not limited to loss of business, goodwill, reputation, opportunity, profits or anticipated saving, in each case howsoever caused or arising and whether arising directly or indirectly, and whether or not foreseeable, even if the Trustee is actually aware of or has been advised of the likelihood of such loss or damage and regardless of whether the claim for such loss or damage is made in negligence, for breach of contract, breach of trust, breach of fiduciary obligation or otherwise. The provisions of this Clause 9.26 shall survive the termination or expiry of this Trust Deed and/or the Bonds no longer being outstanding and/or the resignation or removal of the Trustee.
尽管本信托契约、代理协议、担保契约、条件或上述文件所设想的任何其他交易文件有任何其他条款或规定,受托人及其董事、高级职员、雇员和被委任人在任何情况下均不对任何形式的任何特殊、惩罚性、间接或后果性损失或损害负责,包括但不限于业务损失, 商誉、声誉、机会、利润或预期储蓄,在每种情况下,无论如何引起或产生,无论是直接或间接产生,也无论是否可预见,即使受托人实际上知道或已被告知此类损失或损害的可能性,也无论对此类损失或损害的索赔是否因疏忽而提出, 违反合同、违反信托、违反信托义务或其他行为。本第 9.26 条的规定应在本信托契约终止或到期和/或债券不再未偿付和/或受托人辞职或罢免后继续有效。

Interests of Bondholders
债券持有人的利益

In connection with the exercise of its rights, powers, trusts, authorities or discretions (including, but not limited to, those in relation to any proposed modification, waiver or authorisation of any breach or proposed breach of any of the Conditions or any of the provisions of this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Bonds), the Trustee shall have regard to the general interests of the Bondholders as a class and shall not have regard to any interest arising from circumstances particular to individual Bondholders (whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Bondholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or otherwise to the tax consequences thereof and no Bondholder shall be entitled to claim from the Issuer, the Guarantor or the Trustee any indemnification or payment in respect of any tax consequence of any such exercise upon individual Bondholders except to the extent provided for in Condition 8 and/or in any undertakings given in addition thereto or in substitution therefor pursuant to this Trust Deed.
在行使其权利、权力、信托、权限或酌情权(包括但不限于与任何违反或拟议违反任何条件或本信托契约、代理协议、担保契约或债券的任何条款的任何条款有关的任何拟议修改、放弃或授权), 受托人应将债券持有人的一般利益视为一个类别,不应考虑因个别债券持有人(无论其人数如何)的特殊情况而产生的任何利益,特别是但不限于,不应考虑此类行使对个人债券持有人(无论其人数多少)因出于任何目的在以下地居住或居住而产生的后果: 或以其他方式与任何特定地区有关或受其管辖,或以其他方式影响其税务后果,任何债券持有人均无权就任何此类行使对个别债券持有人的任何税务后果要求任何赔偿或付款,但条件 8 和/或作为附加或替代条件而作出的任何承诺所规定的范围除外根据本信托契约。

Force Majeure
不可抗力

Notwithstanding anything to the contrary in this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds or in any other transaction document, the Trustee and its directors, officers, employees and Appointees shall not be responsible or liable for any loss or damage, or in any event be liable for any failure or delay in the performance of its functions or duties or the exercise of its rights, powers and discretions hereunder or thereunder if it is prevented from so performing its functions or duties or exercising its rights, powers and/or discretions by any circumstances beyond the control of the Trustee, or resulting from the general risks of investment in or the holding of assets in any jurisdiction, including, without limitation, liabilities arising from any existing or future law, order, judgment or regulation, any existing or future act of any supranational or regulatory body, judicial authority or self-regulatory organisation or governmental authority, regulation of the banking or securities industry including changes in market rules or practice, currency restrictions, devaluations or fluctuations, market conditions affecting the execution or settlement of transactions or the value of assets, breakdown, failure, interruption or malfunction of any transport, telecommunication, computer services or systems, nationalisation, expropriation, other governmental action, natural disasters, epidemics, pandemics, Acts of God, flood, fire, war whether declared or undeclared, terrorism, insurrection, revolution, riot, rebellion, civil commotion or unrest, strike, lockout, other industrial action, general failure of electricity or other supply, aircraft collision, technical failure, accidental or mechanical or electrical breakdown, interruption of communications or computer facilities, computer failure or failure of any SWIFT or money transmission system or any other reason which is beyond the control of the Trustee. The provisions of this Clause 9.28 shall survive the termination of this Trust Deed and/or the Bonds no longer being outstanding and/or the resignation or removal of the Trustee.
尽管本信托契约、代理协议、担保契约、债券或任何其他交易文件中有任何相反的规定,受托人及其董事、高级职员、雇员和被任命人不对任何损失或损害负责,也不在任何情况下对履行其职能或职责或行使其权利的任何失败或延误负责, 如果受托人因受托人无法控制的任何情况而无法履行其职能或职责或行使其权利、权力和/或酌情权,或因在任何司法管辖区投资或持有资产的一般风险(包括但不限于任何现有或未来法律引起的责任)而无法履行其职能或职责或行使其权利、权力和/或酌情权,则根据本协议或本协议项下的权力和酌情权, 命令、判决或法规、任何超国家或监管机构、司法机构或自律组织或政府机构的任何现有或未来行为、银行或证券业的监管,包括市场规则或惯例的变化、货币限制、贬值或波动、影响交易执行或结算或资产价值的市场条件, 任何运输、电信、计算机服务或系统的故障、故障、中断或故障、国有化、征用、其他政府行为、自然灾害、流行病、流行病、天灾、洪水、火灾、战争(无论是否宣战)、恐怖主义、叛乱、革命、暴动、叛乱、内乱或骚乱、罢工、停工、其他工业行动、电力或其他供应的一般故障、飞机碰撞、技术故障, 意外或机械或电气故障、通信中断或计算机设施、计算机故障或任何 SWIFT 或汇款系统故障或受托人无法控制的任何其他原因。本第 9.28 条的规定在本信托契约终止和/或债券不再未偿付和/或受托人辞职或罢免后继续有效。

Directions from Holders
持有人的指示

Whenever the Trustee is required or entitled by the terms of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds or the Conditions to exercise any discretion or power, take any action, make any decision or give any direction, the Trustee is entitled, prior to exercising any such discretion or power, taking any such action, making any such decision, or giving any such direction, to seek directions or clarifications from the holders of the Bonds by way of an Extraordinary Resolution, and the Trustee is not responsible or liable for any loss or liability incurred by any person as a result of any delay in it exercising such discretion or power, taking such action, making such decision or giving such direction or clarification where the Trustee is seeking such directions or clarifications or in the event that the instructions or clarifications sought are not provided by the holders of the Bonds. The Trustee is entitled to refrain from acting in the absence of any, or any clear, directions or instructions and shall not be liable for not acting in such circumstances.
每当受托人被本信托契约、代理协议、担保契约、债券或条件的条款要求或有权行使任何酌情权或权力、采取任何行动、作出任何决定或发出任何指示时,受托人有权在行使任何此类酌情权或权力之前采取任何此类行动, 作出任何该等决定,或发出任何该等指示,以特别决议案向债券持有人寻求指示或澄清,而受托人对任何人因延迟行使该等酌情权或权力而招致的任何损失或法律责任概不负责或承担任何法律责任, 在受托人寻求此类指示或澄清的情况下,或在债券持有人未提供所寻求的指示或澄清的情况下,采取此类行动、作出此类决定或给予此类指示或澄清。受托人有权在没有任何或任何明确的指示或指示的情况下不采取行动,并且不对在这种情况下不采取行动负责。

Insurance
保险

The Trustee shall not be under any obligation to insure any document or any certificate, note, bond or other evidence in respect thereof, or to require any other person to maintain any such insurance.
受托人无义务为任何文件或任何证书、票据、债券或其他证据投保,或要求任何其他人维持任何此类保险。

Determination of a Court of Competent Jurisdiction
确定有管辖权的法院

Subject to Sections 750 and 751 of the Companies Act 2006 and notwithstanding anything to the contrary in this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Bonds, the Conditions and any other transaction documents relating thereto, the Trustee shall not be liable for any action taken or omitted by it except to the extent that a court of competent jurisdiction determines that the Trustee’s own fraud, gross negligence or wilful default was the primary and direct cause of any loss to the Bondholders, the Issuer, the Guarantor or any other person.
根据 2006 年《公司法》第 750 条和第 751 条的规定,尽管本信托契约、代理协议、担保契约、债券、条件和任何其他与之相关的交易文件有任何相反的规定,受托人不对其采取或不采取的任何行动负责,除非有管辖权的法院确定受托人自己的欺诈行为, 重大过失或故意违约是导致债券持有人、发行人、担保人或任何其他人士蒙受损失的主要原因。

Error of Judgment
判断错误

The Trustee shall not be liable for any error of judgment made by any officer, director, agent or employee of the Trustee assigned by the Trustee to administer its corporate trust matters.
受托人指派管理其公司信托事宜的受托人的任何高级职员、董事、代理人或雇员所作出的任何判断错误,受托人概不负责。

Legal Opinions
法律意见书

The Trustee shall not be responsible or liable to the Bondholders or any other person for (i) failing to request, require or receive any legal opinion relating to the Bonds, this Trust Deed, the Agency Agreement, the Deed of Guarantee or any other relevant document or matter or (ii) checking or commenting upon the content of any such legal opinion or (iii) the content of any such legal opinion, and the Trustee shall not be responsible for any loss, liability, cost, claim, action, demand, expense or inconvenience incurred and resulting thereby.
受托人不对债券持有人或任何其他人负责:(i) 未能要求、要求或接收与债券、本信托契约、代理协议、担保契约或任何其他相关文件或事项有关的任何法律意见,或 (ii) 检查或评论任何此类法律意见的内容,或 (iii) 任何此类法律意见的内容, 受托人对由此招致及引致的任何损失、责任、成本、申索、诉讼、要求、开支或不便概不负责。

Freedom to Refrain
克制的自由

Notwithstanding anything else contained herein, the Trustee may refrain from doing anything which would or might in its opinion be contrary to any law of any jurisdiction, any court order or arbitral award or any directive or regulation of any agency or any state or which would or might otherwise render it liable to any person or which it would not have the power to do in that jurisdiction, and the Trustee may do anything which is, in its opinion, necessary to comply with any such law, court order, arbitral award, directive or regulation.
尽管此处包含任何其他内容,受托人仍可避免做任何其认为会或可能违反任何司法管辖区的任何法律、任何法院命令或仲裁裁决或任何机构或任何国家的任何指令或法规,或会或可能使其对任何人承担责任或无权在该司法管辖区做任何事情, 受托人可以采取其认为必要的任何措施,以遵守任何此类法律、法院命令、仲裁裁决、指令或法规。

Consolidation, Amalgamation, etc.
合并、合并等

The Trustee shall not be responsible for any consolidation, amalgamation, merger, reconstruction or scheme of the Issuer or the Guarantor or any sale or transfer of all or substantially all of the assets of the Issuer or the Guarantor or the form or substance of any plan relating thereto or the consequences thereof to any Bondholder.
受托人不对发行人或担保人的任何合并、合并、合并、重组或计划负责,也不对发行人或担保人的全部或大部分资产的任何出售或转让负责,也不对任何债券持有人负责。

Waiver of conflicts
放弃冲突

Each of Issuer and the Guarantor hereby irrevocably waives, in favour of the Trustee, any conflict of interest which may arise by virtue of the Trustee or any Affiliate of the Trustee acting in various capacities under this Trust Deed, the Agency Agreement, the Bonds, the Deed of Guarantee and any other documents relating to the Bonds or for other customers of the Trustee or any Affiliate of the Trustee. Each of the Issuer and the Guarantor hereby acknowledges that the Trustee and its Affiliates (together, the “Trustee Parties”) may have interests in, or may be providing or may in the future provide financial or other services to, other parties with interests which an issuer or a guarantor may regard as conflicting with its interests and may possess information (whether or not material to the Issuer and/or the Guarantor) that the Trustee Parties may not be entitled to share with the Issuer and/or the Guarantor. Without prejudice to the foregoing, each of the Issuer and the Guarantor agrees that the Trustee Parties may deal (whether for its own or its customers’ account) in, or advise on, securities of any party and that such dealing or giving of advice, will not constitute a conflict of interest for the purposes of this Trust Deed, the Agency Agreement, the Bonds, the Deed of Guarantee and any other documents relating to the Bonds.
发行人及担保人特此不可撤销地放弃因受托人或受托人的任何关联公司根据本信托契约、代理协议、债券、担保契约及与债券或受托人的其他客户或受托人的任何关联公司的其他客户以各种身份行事而可能产生的任何利益冲突。各发行人及担保人特此确认,受托人及其关联公司(统称“受托人方”)可能拥有其他方的权益,或可能正在或将来可能向其他方提供金融或其他服务,而发行人或担保人可能认为这些权益与其利益相冲突,并可能拥有受托人可能拥有的信息(无论是否对发行人和/或担保人重要)无权与发行人及/或担保人分享。在不损害前述规定的情况下,发行人和担保人均同意,受托方可以交易(无论是为自己还是其客户的账户)任何一方的证券或就任何一方的证券提供建议,并且此类交易或提供建议不会构成本信托契约的利益冲突, 代理协议、债券、担保契约和与债券有关的任何其他文件。

Information Sharing
信息共享

Each of the Issuer and the Guarantor understands that CMB Company is a global financial organisation that operates in and provides services and products to clients through Affiliates and subsidiaries located in multiple jurisdictions (the “
发行人和担保人均了解招商银行公司是一家全球性金融机构,通过位于多个司法管辖区的关联公司和子公司在客户境内运营并向客户提供服务和产品。
CMB
招商银行
Group
”). Each of the Issuer and the Guarantor also understands that the CMB Group may centralise in one or more Affiliates, subsidiaries or unaffiliated service providers certain activities, including audit, accounting, administration, risk management, legal, compliance, sales, marketing, relationship management, and the storage, maintenance, aggregation, processing and analysis of information and data regarding the Issuer or the Guarantor, as the case may be. Consequently, each of the Issuer and the Guarantor hereby consents and authorises the Trustee to disclose to (i) other members of the CMB Group (and their respective officers, directors and employees) and third parties and agents selected by any of them, wherever situated, copies of this Trust Deed, the Agency Agreement, the Deed of Guarantee and information and data regarding the Issuer, the Guarantor and their respective employees and representatives, and any accounts established pursuant to this Trust Deed, the Agency Agreement and/or the Deed of Guarantee in connection with the foregoing activities and (ii) the Bondholders who have provided proof of holding and identity to the satisfaction of the Trustee copies of this Trust Deed, the Agency Agreement and the Deed of Guarantee and other information (including without limitation financial statements and compliance certificates) relating to the Issuer or the Guarantor, as the case may be. To the extent that information and data includes personal data encompassed by relevant data protection legislation applicable to the Issuer or the Guarantor, as the case may be, each of the Issuer and the Guarantor represents and warrants that it is authorised to provide the foregoing consents and authorisations and that the disclosure to the Trustee will comply with the relevant data protection legislation. Each of the Issuer and the Guarantor acknowledges and agrees that information concerning the Issuer, the Guarantor and/or their respective Subsidiaries may be disclosed to unaffiliated service providers, to third parties and agents, to any Authority or court or, in the course of any arbitration proceeding, to persons from whom it receives payments or to whom it makes payment on behalf of the Issuer, the Guarantor and/or otherwise as required by law. The Trustee may without liability send copies of this Trust Deed, the Agency Agreement and the Deed of Guarantee and other information as aforesaid regarding the Issuer and the Guarantor to any Bondholder by electronic mail to such email address as may be provided to it by such Bondholder. Each of the Issuer and the Guarantor represents that it has provided to and secured from any person regarding whom it has provided information to the Trustee any notices, consents and waivers necessary to permit the processing, transfer and disclosure of that information as permitted by this Clause 9.37 and that it will provide such notices and secure such necessary consents and waivers in advance of providing similar information to the Trustee in the future.
”).各发行人及担保人亦明白,招银集团可将若干活动集中于一家或多家关联公司、附属公司或非关联服务供应商,包括审计、会计、行政、风险管理、法律、合规、销售、营销、关系管理,以及有关发行人或担保人的信息及数据的存储、维护、汇总、处理及分析, 视情况而定。因此,发行人及担保人特此同意并授权受托人向(i)招商银行集团的其他成员(及其各自的高级职员、董事及雇员)以及由其任何一方选择的第三方和代理人(无论其位于何处)披露本信托契约、代理协议、担保契约以及有关发行人的资料和数据的副本, 担保人及其各自的雇员和代表,以及根据本信托契约、代理协议和/或担保契约建立的与上述活动有关的任何账户,以及 (ii) 已提供持有证明和身份证明以令受托人满意的债券持有人本信托契约、代理协议和担保契约的副本以及其他信息(包括但不限于财务报表和合规性)证书)与发行人或担保人(视情况而定)有关。 倘若资料及数据包括适用于发行人或担保人的相关保障资料法例所涵盖的个人资料(视情况而定),发行人及担保人均声明并保证其获授权提供上述同意及授权,而向受托人披露的资料将符合相关保障资料法例。发行人和担保人均承认并同意,有关发行人、担保人和/或其各自子公司的信息可能会披露给非关联服务提供商、第三方和代理人、任何当局或法院,或在任何仲裁程序过程中披露给其接收付款或代表发行人付款的人, 担保人和/或法律要求的其他方式。受托人可无责任地将本信托契约、代理协议和担保契约的副本以及上述有关发行人和担保人的其他信息通过电子邮件发送给任何债券持有人,该电子邮件地址由该债券持有人提供。发行人及担保人均声明,其已向已向受托人提供资料的任何人提供并取得任何必要的通知、同意及弃权,以容许本第9.37条所容许的处理、转移及披露该等资料,并声明其将在未来向受托人提供类似资料之前,提供该等通知及取得该等必要的同意及弃权。
The Trustee shall not (unless ordered so to do by a court of competent jurisdiction) be required to disclose to any Bondholder any confidential, financial, price-sensitive or other information made available to the Trustee and specified as such by the Issuer or any other person in connection with this Trust Deed and no Bondholder shall be entitled to take any action to obtain from the Trustee any such information
受托人不得被要求(除非有管辖权的法院命令)向任何债券持有人披露向受托人提供并由发行人或任何其他人指定的与本信托契约有关的任何机密、财务、价格敏感或其他信息,并且任何债券持有人均无权采取任何行动从受托人处获取任何此类信息
.

Anti-Money Laundering and Terrorism
反洗钱和恐怖主义

The Trustee may, at the expense of the Issuer, failing whom the Guarantor, take and instruct any agent, delegate or attorney to take any action or carry out any checks which it in its sole and absolute discretion considers appropriate so as to comply with any Applicable Law, request of a public or regulatory authority or any policy of the CMB Group (including without limitation any Know Your Client and other compliance policies and procedures) which relates to the sanctions, prevention of fraud, money laundering, terrorism or other criminal activities or the provision of financial and other services to sanctioned persons or entities. Such action may include but is not limited to the interception and investigation of transactions on the accounts of the Issuer, the Guarantor or any Bondholder (particularly those involving the international transfer of funds) including the source of funds and the intended recipient of funds paid into or out of the accounts of the Issuer, the Guarantor or any Bondholder. In certain circumstances, such action may delay or prevent the processing of the instructions of the Issuer, the Guarantor or any Bondholder, the settlement of transactions involving the accounts of the Issuer, the Guarantor or any Bondholder or the Trustee’s performance of its obligations under this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds. Neither the Trustee nor any agent, delegate or attorney will be liable for any loss (whether direct or consequential and including, without limitation, loss of profit or interest) caused in whole or in part by any actions or omissions to act which are taken by the Trustee or any agent, delegate or attorney pursuant to or as contemplated in this Clause 9.38.
受托人可采取及指示任何代理人、受托人或受权人采取其全权酌情决定采取任何行动或进行其认为适当的任何行动或进行任何检查,以遵守任何适用法律、公共或监管机构的要求或招银集团的任何政策(包括但不限于任何了解您的客户及其他合规政策和程序),费用由发行人承担涉及制裁、防止欺诈、洗钱、恐怖主义或其他犯罪活动,或向受制裁的个人或实体提供金融和其他服务。该等行动可能包括但不限于截取及调查发行人、担保人或任何债券持有人账户上的交易(特别是涉及国际资金转移的交易),包括资金来源以及从发行人、担保人或任何债券持有人的账户中支付或转出资金的预期接收者。在某些情况下,此类行动可能会延迟或阻止处理发行人、担保人或任何债券持有人的指示,结算涉及发行人、担保人或任何债券持有人账户的交易,或受托人履行其在本信托契约、代理协议、担保契约和债券项下的义务。受托人或任何代理人、受托人或受权人均不对受托人或任何代理人、受托人或受权人根据本第9.38条或按本第9.38条所设想的任何作为或不作为而全部或部分造成的任何损失(无论是直接的还是间接的,包括但不限于利润或利益的损失)负责。

No Implied Duties
无隐含责任

The Trustee shall be obliged to perform such duties, and only such duties, as are specifically set forth in this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Conditions, as applicable, and no implied duties or obligations shall be read into such documents against the Trustee.
受托人有义务履行此类职责,并且仅履行本信托契约、代理协议、担保契约或条件(如适用)中明确规定的职责,不得在针对受托人的此类文件中解读任何隐含的责任或义务。

Powers, Discretions and Functions Additional
其他权力、自由裁量权和职能

The powers, discretions and functions conferred on the Trustee by this Trust Deed, the Agency Agreement, the Deed of Guarantee and/or the Conditions shall be in addition to any powers, discretions and functions the Trustee may otherwise have under general law or as holder of any of the Bonds.
本信托契约、代理协议、担保契约和/或条件赋予受托人的权力、酌情权和职能应是受托人根据一般法律或作为任何债券持有人可能拥有的任何权力、酌情权和职能的补充。

Right to Deduct or Withhold
扣除或扣留的权利

Notwithstanding anything contained in this Trust Deed, the Deed of Guarantee, the Agency Agreement, the Conditions and/or the Bonds, to the extent required by any Applicable Law, if the Trustee is or will be required to make any deduction or withholding from any distribution or payment made by it hereunder or if the Trustee is or will be otherwise charged to, or is or may become liable to, tax as a consequence of performing its duties hereunder or thereunder whether as principal, agent or otherwise, and whether by reason of any assessment, prospective assessment or other imposition of liability to Taxation of whatsoever nature and whensoever made upon the Trustee, and whether in connection with or arising from any sums received or distributed by it or to which it may be entitled under this Trust Deed (other than in connection with its own remuneration as provided for herein) or any investments or deposits from time to time representing the same, including any income or gains arising therefrom or any action of the Trustee in connection with the trusts of this Trust Deed (other than its own remuneration as herein provided for) or otherwise, then the Trustee shall be entitled to make such deduction or withholding or, as the case may be, to retain out of sums received by it an amount sufficient to discharge any liability to tax which relates to sums so received or distributed or to discharge any such other liability of the Trustee to tax from the funds held by the Trustee upon the trusts of this Trust Deed, or the Trustee may return to the Issuer or the Guarantor, as the case may be, the amount so deducted or withheld, in which case the Issuer or the Guarantor, as the case may be, shall so account to the relevant Authority for such amount. If Taxes are paid by the Trustee or any of its Affiliates, each of the Issuer and the Guarantor agrees that it shall promptly reimburse the Trustee or any of its Affiliates for such payment to the extent not covered by withholding from any payment or debited from any balance held for it. In any event the Trustee shall not be obliged to gross up any such distribution or to pay any additional amounts to the intended recipient of the distribution or payment as a result of making such deduction or withholding and shall not be liable to the Issuer, the Guarantor, the Bondholders or any other person for any of the aforesaid. The Trustee shall notify the Issuer and the Guarantor as soon as is reasonably practicable of the making of any such deduction or withholding. If any Taxes become payable with respect to any prior payment to the Issuer or the Guarantor, as the case may be, by the Trustee, each of the Issuer and the Guarantor acknowledges that the Trustee may debit any balance held for the Issuer or the Guarantor, as the case may be, in satisfaction of such Taxes. Each of the Issuer and the Guarantor shall remain liable for any deficiency and agrees that it shall pay any such deficiency upon notice from the Trustee or any Authority. For the avoidance of doubt, FATCA Withholding is a deduction or withholding which is deemed to be required by Applicable Law for the purposes of this Clause 9.41.
尽管本信托契约、担保契约、代理协议、条件和/或债券中有任何规定,但在任何适用法律要求的范围内,如果受托人正在或将被要求从其根据本协议进行的任何分配或付款中扣除或预扣任何款项,或者如果受托人正在或将以其他方式被收取任何费用, 或因履行其在本协议项下或本协议项下的职责而承担或可能承担的税款,无论是作为委托人、代理人还是其他方式,也无论是由于任何评估、预期评估或其他对受托人施加的任何性质的税收责任,也无论是否与受托人收到或分配的任何款项有关或由受托人根据本信托契约可能有权获得的任何款项有关或产生(与本信托契约规定的自身报酬有关的情况除外)或不时代表其的任何投资或存款,包括由此产生的任何收入或收益,或受托人与本信托契约的信托有关的任何行动(本协议规定的其自身报酬除外)或其他方式, 则受托人有权从其收到的款项中扣除或预扣,或视情况而定,从其收到的款项中保留足以免除与所收取或分配的款项有关的任何税务责任,或免除受托人从受托人根据本信托契约的信托所持有的资金中征税的任何其他此类责任, 或受托人可将已扣除或扣留的金额退还给发行人或担保人(视情况而定),在此情况下,发行人或担保人(视情况而定)应向有关当局说明该金额。 如果税款由受托人或其任何关联公司支付,则发行人和担保人均同意,其应立即向受托人或其任何关联公司偿还此类付款,但不得从任何付款中扣除或从为其持有的任何余额中扣除。在任何情况下,受托人均无义务因作出该等扣除或预扣而向分派或付款的预期接收人支付任何额外款项,亦无须就上述任何一项向发行人、担保人、债券持有人或任何其他人士承担任何责任。受托人须在合理切实可行的情况下尽快通知发行人及担保人作出任何该等扣除或预扣。倘若受托人就先前向发行人或担保人(视情况而定)支付的任何款项产生任何税款,则发行人和担保人承认受托人可借记为发行人或担保人(视情况而定)持有的任何余额,以清偿该等税款。发行人及担保人均须就任何差额承担责任,并同意在受托人或任何当局发出通知后支付任何该等差额。为避免疑义,FATCA预扣税是适用法律认为本第9.41条所要求的扣除或预扣税。

Undertaking Regarding Information Reporting and Collection Obligations
关于信息报告和收集义务的承诺

Without prejudice to the other provisions of this Trust Deed, the Issuer or the Guarantor, as the case may be, shall, within ten Business Days of a written request by the Trustee, supply to the Trustee such forms, documentation and other information relating to it, its operations, or the Bonds as the Trustee requests, in each case for the purpose of the Trustee’s compliance with Applicable Law and shall notify the Trustee promptly in the event that it becomes aware that any of the forms, documentation or other information provided by it is (or becomes) inaccurate in any material respect; provided, however, that the Issuer and/or the Guarantor shall not be required to provide any forms, documentation or other information pursuant to this Clause 9.42 to the extent that: (i) any such form, documentation or other information (or the information required to be provided on such form or documentation) is not reasonably available to the Issuer and/or the Guarantor and cannot be obtained by the Issuer and/or the Guarantor using reasonable efforts; or (ii) doing so would or might in the reasonable opinion of the Issuer and/or the Guarantor constitute a breach of any: (a) Applicable Law; (b) fiduciary duty; or (c) duty of confidentiality.
在不影响本信托契约的其他规定的情况下,发行人或担保人(视情况而定)应在受托人提出书面请求后的十个工作日内,向受托人提供与其、其运营或受托人要求的债券有关的表格、文件和其他信息,在每种情况下,受托人应遵守适用法律,并应在如果它意识到它提供的任何表格、文件或其他信息在任何重大方面是(或变得)不准确的;但是,发行人和/或担保人无须根据本第9.42条提供任何表格、文件或其他信息,但前提是:(i)发行人和/或担保人无法合理地获得任何此类表格、文件或其他信息(或要求在此类表格或文件上提供的信息),并且发行人和/或担保人无法通过合理努力获得;或 (ii) 发行人和/或担保人合理地认为这样做将或可能构成违反任何一项:(a) 适用法律;(b) 受托责任;或 (c) 保密义务。

Notice of Possible Deduction or Withholding
可能扣除或预扣的通知

Each of the Issuer and the Guarantor shall notify the Trustee in writing in the event that it determines that any payment to be made by the Trustee under the Bonds is a payment which could be subject to any deduction or withholding for or on account of any Taxes including, without limitation, FATCA Withholding if such payment were made to a recipient that is generally unable to receive payments free from any deduction or withholding for or on account of any Taxes including, without limitation, FATCA Withholding, and the extent to which the relevant payment is so treated, provided, however, that the obligations of the Issuer and/or the Guarantor under this Clause 9.43 shall apply only to the extent that such payments are so treated by virtue of characteristics of the Issuer and/or the Guarantor, the Bonds, or both.
发行人和担保人均应以书面形式通知受托人,如果受托人确定受托人根据债券支付的任何款项是可能因任何税款或因任何税款而扣除或预扣的款项,包括但不限于FATCA预扣税(如果此类付款支付给通常无法免收任何扣除的付款的收款人,则为FATCA预扣税,或为任何税款(包括但不限于 FATCA 预扣税)预扣或因任何税款而预扣的预扣税,以及相关付款的处理程度,但前提是,发行人和/或担保人在本第 9.43 条下的义务仅适用于根据发行人和/或担保人的特点处理此类付款的程度, 债券,或两者兼而有之。

Tax Indemnity
税务赔偿

Notwithstanding any other provision of this Trust Deed, each of the Issuer and the Guarantor shall indemnify the Trustee on demand against any liability or loss howsoever incurred in connection with the Issuer’s and/or the Guarantor’s obligation, to withhold or deduct an amount for or on account of Tax including, without limitation, FATCA Withholding.
尽管本信托契约有任何其他规定,发行人和担保人均应根据受托人的要求向受托人赔偿因发行人和/或担保人的义务而产生的任何责任或损失,以预扣或扣除税款或因税款而产生的金额,包括但不限于 FATCA 预扣税款。

Residency and Tax Status
居住地和税务状况

The Trustee is not under any obligation to enquire as to the residency or status of a Bondholder or a potential holder of the Bonds.
受托人并无义务查询债券持有人或债券潜在持有人的居住地或身份。

Tax Information
税务信息

Each of the Issuer and the Guarantor undertakes to the Trustee that: (i) it will provide to the Trustee all documentation and other information in relation to Tax required by the Trustee from time to time to comply with any Applicable Law promptly upon request by the Trustee; and (ii) it will notify the Trustee in writing within 30 days of any change that affects the tax status of the Issuer or the Guarantor, as the case may be, pursuant to any Applicable Law and will provide the Trustee with any information or instructions required to effect payments which the Issuer or the Guarantor, as the case may be, determines are required to be made to the relevant Authorities in respect of the Bonds in light of such change.
发行人和担保人均向受托人承诺:(i)在受托人要求时,将向受托人提供受托人不时要求遵守任何适用法律所需的与税务有关的所有文件和其他信息;及 (ii) 根据任何适用法律,在发生任何影响发行人或担保人税务状况(视情况而定)的变更后,将在 30 天内以书面形式通知受托人,并向受托人提供实现发行人或担保人付款所需的任何信息或指示, 视情况而定,须就有关变动向有关当局作出有关决定。

It shall be the sole responsibility of the Issuer and/or the Guarantor to determine whether a deduction or withholding is or will be required from any payment to be made in respect of the Bonds or otherwise in connection with this Trust Deed, the Agency Agreement, the Deed of Guarantee and any other documents relating to the Bonds and to procure that such deduction or withholding is made in a timely manner to the appropriate Authorities and shall promptly notify the Trustee in writing upon determining or becoming aware of such requirement. Each of the Issuer and the Guarantor shall notify the Trustee in writing a minimum of five Business Days prior to the date on which any payment for which a deduction or withholding is required of (a) the amount of such deduction or withholding and (b) the relevant Authorities to whom such amount should be paid. Each of the Issuer and the Guarantor shall promptly provide the Trustee with all information required for the Trustee to be able to make such payment. The terms of this Clause 9.46 shall survive even if the Trustee is no longer a Trustee and/or the Bonds are no longer outstanding and/or this Trust Deed has been terminated.
发行人和/或担保人应全权负责确定是否需要或将需要从与本信托契约、代理协议、担保契约和与债券有关的任何其他文件的任何付款中扣除或预扣,并促使及时向有关当局,并在确定或知悉此类要求后立即以书面形式通知受托人。发行人及担保人均须在须扣除或预扣的任何款项日期前至少五个营业日以书面形式通知受托人:(a) 该等扣除或预扣的金额及 (b) 应向其支付该款项的有关当局。发行人及担保人均应及时向受托人提供受托人支付该等款项所需的所有资料。即使受托人不再是受托人和/或债券不再未偿还和/或本信托契约已终止,本第 9.46 条的条款仍继续有效。

Trust or Agency
信托或代理

The Trustee shall not have and shall not be deemed to have any duty, obligation or responsibility to, or relationship of trust or agency with, the Issuer and/or the Guarantor.
受托人对发行人及/或担保人不负有任何责任、义务或责任,或与发行人及/或担保人有任何信托或代理关系。

Separate Division
独立分部

The Trustee shall be regarded as acting through its agency or trustee division which shall be treated as a separate division from any other of its departments or divisions. If information is received by another department or division of the Trustee, it shall be treated as confidential to that other department or division and the Trustee shall not be deemed to have notice of it. The obligations and duties of the Trustee will be performed only by the Trustee acting through its principal office as specified in Clause 18 and are not obligations or duties of any other entity of the CMB Group (as defined in Clause 9.37) and the rights of the Issuer, the Guarantor, the Bondholders and any other person with respect to the Trustee extend only to the Trustee of the specified office and do not extend to any other entity of the CMB Group.
受托人应被视为通过其代理机构或受托人部门行事,该机构或受托人部门应被视为与其任何其他部门或部门分开的部门。如受托人的其他部门或分部收到资料,则该等其他部门或分部应视为机密资料,受托人不应被视为已获悉该等资料。受托人的义务和职责将仅由受托人通过第18条所指明的主要办事处履行,而不是招银集团任何其他实体(定义见第9.37条)的义务或职责,发行人、担保人、债券持有人和任何其他人对受托人的权利仅延伸至指定办事处的受托人,不延伸CMB集团的任何其他实体。

Not Responsible for Listing
不负责发布

Nothing in this Trust Deed shall require the Trustee to assume an obligation of the Issuer and/or the Guarantor arising under any provision of the listing, prospectus, disclosure or transparency rules (or equivalent rules of any other applicable competent authority).
本信托契约中的任何内容均不要求受托人承担发行人和/或担保人根据上市、招股说明书、披露或透明度规则(或任何其他适用主管当局的同等规则)的任何规定产生的义务。

Forged Entry on the Register
登记册上的伪造条目

The Trustee shall not be liable to the Issuer, the Guarantor or any Bondholder if it has accepted as valid or has not rejected any documents, certificate or any entry on the Register purporting to be such and subsequently found to be forged or not authentic, nor shall it be liable for any action taken or omitted to be taken in reliance on any document, certificate or communication believed by it to be genuine and to have been presented or signed by the proper person or persons.
如果发行人、担保人或任何债券持有人已接受或未拒绝任何声称是有效的文件、证书或登记册上的任何条目,但随后被发现是伪造的或不真实的,则受托人不对发行人、担保人或任何债券持有人承担责任,也不对依赖任何文件而采取或不采取的任何行动负责, 证书或通信被它认为是真实的,并由适当的人出示或签署。

Regulatory position
监管状况

Notwithstanding anything in this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions and/or the Bonds or any other transaction document to the contrary, the Trustee shall not be required to perform any obligations prescribed under Part 8A of the Inland Revenue Ordinance (Cap. 112 of the Laws of Hong Kong) and the Agreement between the Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the United States of America for Cooperation to Facilitate the Implementation of FATCA with respect to the Trustee’s enforcement of any arrangements of this Trust Deed.
尽管本信托契约、代理协议、保证契据、条件及/或债券或任何其他交易文件有任何相反的规定,受托人无须履行《税务条例》(香港法例第112章)第8A部及《中华人民共和国香港特别行政区政府与美利坚合众国政府合作促进FATCA的实施,涉及受托人执行本信托契约的任何安排。

WAIVER AND PROOF OF DEFAULT
弃权和违约证明

Waiver
弃权

The Trustee may (but shall not be obliged to) agree, without the consent of the Bondholders and without prejudice to its rights in respect of any subsequent breach, from time to time and at any time, if in its opinion the interests of the Bondholders will not be materially prejudiced thereby, to waive or authorise, on such terms as seem expedient to it, any breach or proposed breach by the Issuer or the Guarantor of this Trust Deed, the Bonds, the Conditions, the Deed of Guarantee and/or the Agency Agreement, or determine that an Event of Default or Potential Event of Default will not be treated as such, provided that the Trustee will not do so in contravention of an express direction given by an Extraordinary Resolution or a request made pursuant to Condition 9. No such direction or request will affect a previous waiver, authorisation or determination. The Trustee’s waiver or authorisation may be subject to it being indemnified and/or secured and/or pre-funded to its satisfaction and to any other condition which the Trustee requires, including but not limited to obtaining, at the sole expense of the Issuer, failing whom the Guarantor, advice from or an opinion of any investment bank or legal or other expert and/or the Auditors and a certificate signed by an Authorised Signatory of the Issuer or the Guarantor, as the case may be. The Trustee shall be entitled to but shall not be obliged to rely conclusively on such advice, opinion or certificate. No such direction or request will affect a previous waiver, authorisation or determination. Any such waiver, authorisation or determination will be binding on the Bondholders and, unless the Trustee agrees otherwise, will be notified by the Issuer or the Guarantor to the Bondholders as soon as reasonably practicable.
受托人可以(但无义务)在未经债券持有人同意且不损害其对任何后续违约行为的权利的情况下,在其认为不会因此而受到重大损害的情况下,不时及随时同意放弃或授权,以其认为合适的条款, 发行人或担保人违反或建议违反本信托契约、债券、条件、担保契约和/或代理协议,或确定违约事件或潜在违约事件将不被视为违约事件,前提是受托人不会违反特别决议案的明确指示或根据第 9 条提出的要求。任何此类指示或要求都不会影响先前的弃权、授权或决定。受托人的弃权或授权可能取决于其获得弥偿和/或担保和/或预先资助,使其满意,以及受托人要求的任何其他条件,包括但不限于获得发行人自行承担的费用,否则由担保人、任何投资银行或法律或其他专家和/或审计师提供的建议或意见,以及由授权签署人签署的证书。发行人或担保人(视情况而定)。受托人有权但无义务最终依赖该等建议、意见或证明书。任何此类指示或要求都不会影响先前的弃权、授权或决定。任何该等豁免、授权或决定将对债券持有人具有约束力,除非受托人另有同意,否则发行人或担保人将在合理切实可行的情况下尽快通知债券持有人。

Proof of Default
违约证明

Proof that the Issuer or the Guarantor has failed to pay or procure to pay a sum due to the holder of any one Bond will (unless the contrary be proved) be sufficient evidence that it has made the same default as regards all other Bonds which are then payable.
发行人或担保人未能向任何一只债券的持有人支付或促使支付应付款项的证据(除非有相反的证据)足以证明其对随后应付的所有其他债券作出相同的违约行为。

TRUSTEE NOT PRECLUDED FROM ENTERING INTO CONTRACTS
受托人不排除订立合同

The Trustee and entities associated with the Trustee and any of their officers, directors, employees and Affiliates may become the owner of, and/or may acquire any interest in, any Bonds with the same rights that it or he would have had if the Trustee were not appointed under this Trust Deed, and may engage or be interested in any financial or other transaction with the Issuer, the Guarantor and any other persons, and may act on, or as depositary, trustee or agent for, any committee or body of Bondholders or other obligations of the Issuer, the Guarantor or any other person, as freely as if the Trustee were not appointed under this Trust Deed, and shall not be accountable for the same and shall be entitled to retain and shall not in any way be liable to account to the Issuer, the Guarantor, the Bondholders or any other person for any profit made or share of brokerage or commission or remuneration or other amount or benefit received thereby or in connection therewith.
受托人及与受托人及其任何高级职员、董事、雇员及关联公司有关联的实体可成为任何债券的所有者和/或可能获得任何权益,其权利与受托人未根据本信托契约获委任时其或他本应享有的权利相同,并可能参与或与发行人进行任何金融或其他交易, 担保人及任何其他人士,并可作为发行人、担保人或任何其他人士的任何债券持有人委员会或机构或发行人、担保人或任何其他人士的其他义务行事,或作为其保管人、受托人或代理人,就像受托人不是根据本信托契约任命的一样,并且不对此负责,并有权保留,并且不以任何方式向发行人负责, 担保人、债券持有人或任何其他人士,以获得任何利润或经纪业务份额或佣金或报酬,或因此或与之相关的其他金额或利益。

TRUSTEE’S DUTY OF CARE AND LIABILITY
受托人的注意义务和责任

Section 1 of the Trustee Act 2000 shall not apply to any function or duty of the Trustee, provided that if the Trustee has failed to show the degree of care and diligence required of it as trustee having regard to the provisions of this Trust Deed, nothing in this Trust Deed shall relieve or indemnify it against any liability (including liabilities provided for in Clause 8.4) which would otherwise attach to it in respect of any gross negligence, wilful default or fraud of which it may be guilty. Where there are any inconsistencies between the Trustee Act 1925, the Trustee Act 2000 and the provisions of this Trust Deed, the provisions of this Trust Deed shall, to the extent allowed by law, prevail and, in the case of any such inconsistency with the Trustee Act 2000, the provisions of this Trust Deed shall constitute a restriction or exclusion for the purposes of that Act.
2000 年《受托人法》第 1 条不适用于受托人的任何职能或职责,前提是如果受托人未能在考虑本信托契约的规定后表现出作为受托人所需的谨慎和勤勉程度,则本信托契约中的任何内容均不得免除或赔偿其本应附带的任何责任(包括第 8.4 条中规定的责任)任何重大过失、故意违约或欺诈行为,其可能被判有罪。如果《1925年受托人法》、《2000年受托人法》和本信托契约的规定之间存在任何不一致之处,则在法律允许的范围内,以本信托契约的规定为准,如果与《2000年受托人法》有任何此类不一致,则本信托契约的规定应构成该法的限制或排除。

REPRESENTATION AND UNDERTAKING
代表和承诺

Each of the Issuer and the Guarantor represents and undertakes to the Trustee that it has not made and will not make an offer of the Bonds to the public in any state or jurisdiction.
发行人及担保人均向受托人声明并承诺,其没有也不会在任何州或司法管辖区向公众发出债券要约。

MODIFICATION
修改

The Trustee may (but shall not be obliged to) agree without the consent of the Bondholders, to (i) any modification of any of the provisions of this Trust Deed, the Agency Agreement, the Deed of Guarantee, the Conditions and/or any waiver or authorisation of any breach or proposed breach of the Bonds which in its opinion is not materially prejudicial to the interest of the Bondholders, but such power does not extend to any such modification as is mentioned in the proviso to paragraph 3 of Schedule 3, and/or (ii) any modification of any of the Conditions or any of the provision of this Trust Deed, Agency Agreement or Deed of Guarantee which in its opinion, is of a formal, minor or technical nature or is made to correct a manifest error or to comply with any mandatory provision of Applicable Law or any rule or procedure of the relevant clearing system. Any such modification shall be binding on the Bondholders and, unless the Trustee otherwise agrees, such modification, authorisation or waiver shall be notified to the Bondholders by the Issuer or the Guarantor, as the case may be, as soon as practicable in accordance with Condition 16. The Trustee may request and conclusively rely upon, a certificate signed by an Authorised Signatory of the Issuer or the Guarantor, as the case may be and/or an opinion of counsel concerning compliance with the above conditions in respect of any such modification, authorisation, waiver, supplement, replacement and/or amendment. This Trust Deed may not be amended without the prior written consent of all parties hereto.
受托人可以(但无义务)同意(i)对本信托契约、代理协议、担保契约、条件的任何条款进行任何修改,和/或对任何违反或拟议违反债券的行为的任何豁免或授权,而受托人认为不会对债券持有人的利益造成重大损害, 但该权力不延伸至附表3第3段但书中提及的任何此类修改,和/或(ii)对本信托契约、代理协议或担保契约的任何条件或任何条款的任何修改,而该修改在其看来是正式的、次要的或技术性的,或是为了纠正明显的错误或遵守任何强制性规定而作出的。适用法律或相关清算系统的任何规则或程序。任何该等修改均对债券持有人具有约束力,除非受托人另有同意,否则发行人或担保人(视情况而定)应根据第16条在切实可行的情况下尽快通知债券持有人该等修改、授权或弃权。受托人可要求并最终依赖由发行人或担保人的授权签字人签署的证明书(视情况而定)及/或律师就任何该等修改、授权、放弃、补充、替换及/或修订遵守上述条件的意见。未经本协议各方事先书面同意,不得修改本信托契约。

APPOINTMENT, RETIREMENT AND REMOVAL OF THE TRUSTEE
受托人的委任、退任及罢免

Appointment
约会

Subject as provided in Clause 15.2 below, the Issuer and the Guarantor have the power of appointing new trustees but no one may be so appointed unless previously approved by an Extraordinary Resolution. A trust corporation will at all times be a Trustee and may be the sole Trustee. Any appointment of a new Trustee will be notified by the Issuer (failing whom, the Guarantor) to the Bondholders as soon as practicable.
根据下文第15.2条的规定,发行人和担保人有权任命新的受托人,但除非事先获得特别决议的批准,否则不得任命任何人。信托公司在任何时候都是受托人,并且可能是唯一的受托人。发行人(如无担保人,则为担保人)将在切实可行的情况下尽快通知债券持有人任何新受托人的委任。

Retirement and Removal
停用和撤职

Any Trustee may retire at any time on giving at least 45 days’ written notice to the Issuer and the Guarantor without giving any reason or being responsible for any costs, charges and expenses occasioned by such retirement, removal or appointment of a new trustee, and the Bondholders may by Extraordinary Resolution remove any Trustee without the Trustee being responsible for any costs, charges and expenses occasioned by such removal, provided that the retirement or removal of a sole trust corporation will not be effective until a trust corporation is appointed as successor Trustee. If a sole trust corporation gives notice of retirement or an Extraordinary Resolution is passed for its removal, each of the Issuer and the Guarantor will use all reasonable endeavours to procure that another trust corporation be appointed as Trustee but if a replacement Trustee is not so appointed by the date falling 30 days after such notice is given or, as the case may be, such Extraordinary Resolution is passed, the Trustee shall be entitled to (i) petition any court of competent jurisdiction for its resignation provided that it has notified the Issuer and the Guarantor prior to doing so and (ii) appoint another trust corporation selected by it, in each case at the expense of the Issuer, failing whom the Guarantor. The Trustee shall not be responsible for monitoring or supervising any such new trustee.
任何受托人可在向发行人和担保人发出至少45天的书面通知后随时退任,而无需给出任何理由,也不对因该等退休、罢免或任命新受托人而产生的任何成本、费用和开支负责,债券持有人可以通过特别决议罢免任何受托人,而受托人无需承担任何费用, 由此产生的费用和开支,前提是在信托公司被任命为继任受托人之前,唯一信托公司的退出或罢免将无效。如果独资信托公司发出撤销通知或通过特别决议将其解散,则发行人和担保人将尽一切合理努力促使另一家信托公司被任命为受托人,但如果在发出通知后 30 天之日仍未任命替代受托人,或者, 视情况而定,该特别决议案获得通过后,受托人有权 (i) 向任何有管辖权的法院提出辞职申请,前提是其已在此之前通知发行人和担保人,以及 (ii) 委任其选择的另一家信托公司,在每种情况下均由发行人承担费用, 如果担保人不这样做。受托人不负责监督或监督任何此类新受托人。

Co-Trustees
共同受托人

The Trustee may, despite Clause 15.1, by written notice to the Issuer and the Guarantor, appoint anyone to act as an additional trustee jointly with the Trustee without the need for the Issuer’s, the Guarantor’s and/or the Bondholders’ consent:
尽管有第15.1条的规定,受托人仍可向发行人及担保人发出书面通知,委任任何人与受托人共同担任额外受托人,而无须征得发行人、担保人及/或债券持有人的同意:

if the Trustee considers the appointment to be in the interests of the Bondholders;
如果受托人认为该任命符合债券持有人的利益;

to conform with a legal requirement, restriction or condition in a jurisdiction in which a particular act is to be performed; or
符合将要执行特定行为的司法管辖区的法律要求、限制或条件;或

to obtain a judgment or to enforce a judgment or any provision of this Trust Deed, the Bonds or the Deed of Guarantee in any jurisdiction.
在任何司法管辖区获得判决或执行本信托契约、债券或担保契约的判决或任何条款。

Subject to the provisions of this Trust Deed, the Trustee may confer on any person so appointed such functions as it thinks fit. The Trustee may by written notice to the Issuer, the Guarantor and that person remove that person. At the Trustee’s request, the Issuer and the Guarantor will forthwith do all things as may be required to perfect such appointment or removal and each of them irrevocably appoints the Trustee as its attorney in its name and on its behalf to do so. The Trustee shall not be responsible for monitoring or supervising any such additional trustee and shall not be liable for the acts and/or omissions, or any negligence, breach, default or fraud of any additional trustee. The obligations and liabilities of each co-trustee shall be several and not joint.
在不违反本信托契约的条文的前提下,受托人可授予任何获委任的人士其认为合适的职能。受托人可以书面通知发行人、担保人及该人罢免该人。应受托人的要求,发行人和担保人将立即采取一切可能需要的措施,以完善该等任命或罢免,并且他们各自不可撤销地以受托人的名义并代表受托人为其代理人。受托人不负责监督或监督任何此类额外受托人,也不对任何其他受托人的作为和/或不作为,或任何疏忽、违约、违约或欺诈负责。每个共同受托人的义务和责任应为若干而不是连带。

Competence of a Majority of Trustees
大多数受托人的能力

If there are more than two Trustees, the majority of them will be competent to perform the Trustee’s functions, provided the majority includes a trust corporation. The obligations and liabilities of the Trustees shall be several and not joint.
如果有两个以上的受托人,他们中的大多数将有能力履行受托人的职能,前提是大多数受托人包括信托公司。受托人的义务和责任应为若干义务,而不是连带责任。

Successor
接班人

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor to the Trustee hereunder without the execution or filing of any papers or any further act on the part of any of the parties hereto. Notice shall be given to the Issuer and the Guarantor by the Trustee as soon as reasonably practicable if any event described in this Clause 15.5 occurs.
受托人可能合并或转换的任何公司或可能与之合并的公司,或受托人应为一方的任何合并、转换或合并产生的任何公司,或继承受托人的全部或大部分公司信托业务的任何公司,应为受托人的继承人,而无需签署或提交任何文件或任何进一步的行为本协议任何一方。如果发生本第15.5条所述的任何事件,受托人应在合理可行的情况下尽快通知发行人和担保人。

CURRENCY INDEMNITY
货币赔偿

Currency of Account and Payment
账户和付款的货币

U.S. dollars (the “Contractual Currency”) is the sole currency of account and payment for all sums payable by the Issuer or the Guarantor under or in connection with this Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds, including damages.
美元(“合同货币”)是开证人或担保人根据本信托契约、代理协议、担保契约和债券支付的所有款项(包括损害赔偿)的唯一账户货币和付款。

Extent of Discharge
放电范围

An amount received or recovered in a currency other than the Contractual Currency (whether as a result of, or of the enforcement of, a judgment or order of a court of any jurisdiction, in the insolvency, winding-up or dissolution of the Issuer, the Guarantor or otherwise), by the Trustee or any Bondholder in respect of any sum expressed to be due to it from the Issuer or the Guarantor will only discharge the Issuer or, as the case may be, the Guarantor to the extent of the Contractual Currency amount which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so).
受托人或任何债券持有人以合约货币以外的货币收取或收回的款项(无论是由于或执行任何司法管辖区的法院的判决或命令,在发行人、担保人或其他情况下的破产、清盘或解散),就发行人或担保人明示应支付的任何款项而言,只会解除发行人或, (视情况而定),担保人以收款人能够购买的合同货币金额为限,并在收到或收回该合同货币之日以该其他货币收取或收回的金额(或者,如果在该日期进行购买不可行,则在切实可行的第一天)。

Indemnity
赔款

If that Contractual Currency amount is less than the Contractual Currency amount expressed to be due to the recipient under this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Bonds, the Issuer and the Guarantor on a joint and several basis will indemnify it, on demand, against any loss sustained by it as a result. In any event, the Issuer and the Guarantor on a joint and several basis will indemnify the recipient, on demand, against the cost of making any such purchase.
如果该合同货币金额低于本信托契约、代理协议、担保契约或债券项下应支付给收款人的合同货币金额,则发行人和担保人将按要求赔偿其因此而遭受的任何损失。在任何情况下,发行人和担保人将按要求向接收方赔偿进行任何此类购买的费用。

Indemnity Separate
赔偿单独

The indemnities in this Clause 16 and in Clauses 4.1 and 8.4 constitute separate and independent obligations from the other obligations in this Trust Deed, will give rise to a separate and independent cause of action, will apply irrespective of any indulgence granted by the Trustee and/or any Bondholder and will continue in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of any sum due under this Trust Deed, the Agency Agreement, the Deed of Guarantee and/or the Bonds or any other judgment or order or any termination of this Trust Deed or the removal or resignation of the Trustee.
本第 16 条以及第 4.1 条和第 8.4 条中的弥偿构成与本信托契约中其他义务分开和独立的义务,将产生单独和独立的诉讼因由,无论受托人和/或任何债券持有人是否给予任何宽恕,都将适用,并且无论做出任何判决,仍将继续完全有效, 就本信托契约、代理协议、担保契约和/或债券或任何其他判决或命令或本信托契约的任何终止或受托人的免职或辞职而应付的任何款项发出的命令、索赔或证明。

Continuing Effect
持续影响

The terms of this Clause 16 shall survive the termination of this Trust Deed and/or the Bonds no longer being outstanding and/or the resignation or removal of the Trustee.
本第 16 条的条款应在本信托契约终止和/或债券不再未偿付和/或受托人辞职或罢免后继续有效。

COMMUNICATIONS
通信

Any notices and other communications shall be made in English and may be by letter, fax or email (including scanned copies of executed documents or other attachments):
任何通知和其他通信均应以英语进行,并可通过信件、传真或电子邮件(包括已签署文件或其他附件的扫描件)进行:

in the case of notices to the Issuer, to it at:
如向发行人发出通知,则通过以下方式向发行人发出:

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南潯旅遊投資發展集團有限公司)
HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南浔旅游投资发展集团有限公司)

No.148 Shiyuan Road, Nanxun Town
南浔镇石源路148号

Nanxun District, Huzhou City
湖州市南浔区

Zhejiang Province, China
中国浙江省

Fax no.:+86 572 3012215
传真号码: +86 572 3012215

Email:48612151@qq.com
电子邮件: 48612151@qq.com

Attention:Hao Qian
收件人:郝倩

in the case of notices to the Guarantor, to it at:
在向担保人发出通知的情况下,请通过以下方式向担保人发出通知:

HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南潯文旅發展集團有限公司)
HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南浔文旅发展集团有限公司)

Room 102, No.148 Shiyuan Road, Nanxun Town
南浔镇石源路148号102室

Nanxun District, Huzhou City
湖州市南浔区

Zhejiang Province, China
中国浙江省

Fax no.:+86 572 3012215
传真号码: +86 572 3012215

Email:48612151@qq.com
电子邮件: 48612151@qq.com

Attention:Hao Qian
收件人:郝倩

and in the case of notices to the Trustee, to it at:
如向受托人发出通知,则在以下地址向受托人发出通知:

CMB WING LUNG (TRUSTEE) LIMITED
招商永隆(受托人)有限公司

6/F, CMB Wing Lung Bank Building
招商永隆银行大厦6楼

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

Fax no.:+852 2393 3369
传真号码: +852 2393 3369

Email:cta@cmbwinglungbank.com
电子邮件: cta@cmbwinglungbank.com

Attention:Corporate Trust and Agency – Project Canoe
收件人:企业信托和代理 – Project Canoe

Communications will take effect, in the case of a letter, when delivered, or, in the case of fax, when the relevant delivery receipt is received by the sender and in the case of an email, when the relevant receipt of such communication being read is given, or where no read receipt is requested by the sender, at the time of sending provided that no delivery failure notification is received by the sender within 24 hours of sending that email; provided that any communication which is received (or would otherwise be deemed to take effect in accordance with the foregoing) after 5:00 p.m. on a business day or on a non-business day in the place of receipt shall be deemed to take effect at the opening of business on the next following business day in such place. Any communication delivered to any party under this Trust Deed which is to be sent by fax or email will be written legal evidence.
如果是信件,则通信将在送达时生效,如果是传真,则在发件人收到相关送达回执时生效,如果是电子邮件,则在发出正在阅读的通信的相关回执时生效,或者如果发件人没有要求已读回执, 在发送时,前提是发件人在发送该电子邮件后 24 小时内未收到递送失败通知;但是,在工作日下午5:00之后或非工作日收到的任何通信(或根据上述规定被视为生效)的通知,应视为在下一个工作日该地点的营业开始时生效。根据本信托契约向任何一方发送的任何通过传真或电子邮件发送的通信都将是书面法律证据。

Any of the parties named above may change its address for the purpose of this Clause 17 by giving notice of such change to the other parties to this Trust Deed.
上述任何一方均可就本第 17 条的目的更改其地址,方法是向本信托契约的其他各方发出此类更改通知。

Unless otherwise provided in this Trust Deed or as agreed by the Trustee in writing, all notices and other communications hereunder shall be made in English or shall be accompanied by an English translation thereof. Any English translation of any document delivered pursuant to this Trust Deed or any other transaction document relating to the Bonds or the Bonds shall be certified a true and accurate translation by such person who may be specified in this Trust Deed or any other transaction document relating to the Bonds or, in the absence of any person having been so specified, by a professionally qualified translator or by some other person competent to do so. Where the Conditions specify the person or classes of persons who shall or may undertake the translation of any particular document, the Issuer or the Guarantor (as the case may be) shall ensure that the translation thereof is undertaken by such person(s). The Trustee may rely conclusively on any such English translation, and shall be entitled to assume that each such English translation is a complete and accurate translation of the original, and the Trustee shall not be responsible or liable to the Issuer, the Guarantor, any Bondholder, the Agents or any other person for doing so. The Trustee is entitled to receive a certified English translation, at the cost of the Issuer, failing whom the Guarantor, of any document delivered hereunder or relating to the Bonds promptly on request.
除非本信托契约另有规定或受托人书面同意,否则本信托契约项下的所有通知和其他通信均应以英文发出,或附有英文翻译。根据本信托契约或与债券或债券有关的任何其他交易文件交付的任何文件的任何英文翻译均应由本信托契约或与债券相关的任何其他交易文件中指定的人员证明为真实准确的翻译,或者在没有指定任何人的情况下, 由具有专业资格的翻译人员或其他有能力的人员提供。如果条件规定了应或可能进行任何特定文件翻译的人士或类别,则发行人或担保人(视情况而定)应确保由该等人士进行翻译。受托人可以最终依赖任何该等英文译本,并有权假定每个该等英文译本均为完整及准确的原文译本,受托人不对发行人、担保人、任何债券持有人、代理人或任何其他人士负责。受托人有权根据要求立即收取根据本协议交付的或与债券有关的任何文件的经认证的英文翻译,费用由发行人承担,否则由担保人承担。

The Trustee may conclusively rely on and shall be fully authorised and protected in and shall have no liability for acting or omitting to act upon or in reliance on written, electronic or facsimile communications from and instructions of the Issuer, the Guarantor or any other person with respect to any matter covered in this Trust Deed and/or the Bonds and/or the Agency Agreement, the Deed of Guarantee or on any certificate, instruction, opinion, notice, letter, facsimile, email, or other document or instrument (including without limitation, a message received from, through or on behalf of Euroclear or Clearstream or any other alternative clearing system) original or copy, delivered or faxed or sent by email or electronically to it and believed by it to be genuine and to have been sent by the proper person or persons, and shall not have any responsibility or duty or obligation to verify or confirm that the person giving the same is duly authorised to give instructions, directions, notices, certificates or other communications on behalf of the Issuer, the Guarantor or such other person, and shall not be liable for any losses, liabilities, costs or expenses incurred or sustained by the Issuer, the Guarantor, any Bondholder or any other person as a result of such reliance upon or compliance with such instructions, directions, notices, certificates or other communications.
受托人可最终依赖发行人、担保人或任何其他人士就本信托契约和/或债券和/或代理协议所涵盖的任何事项作出或不采取行动或依赖其书面、电子或传真通信和指示,并应获得充分授权和保护,并且不承担任何责任。 担保契约或任何证书、指示、意见、通知、信函、传真、电子邮件或其他文件或文书(包括但不限于从Euroclear或Clearstream或任何其他替代清算系统收到的、通过或代表Euroclear或Clearstream或任何其他替代清算系统收到的消息)的原件或副本,交付或传真或通过电子邮件或电子方式发送给它,并被它认为是真实的,并且是由适当的人或人发送的, 并且没有任何责任或义务或义务核实或确认提供该信息的人是否已正式授权代表发行人、担保人或该等其他人发出指示、指示、通知、证书或其他通信,并且不对发行人招致或承受的任何损失、责任、成本或费用负责, 担保人、任何债券持有人或任何其他人因依赖或遵守此类指示、指示、通知、证书或其他通信而获得。

Each of the Issuer and the Guarantor agrees that the indemnity set out in Clause 8.4 shall apply in respect of any loss or liability suffered by any Agent and the Trustee as a result of acting upon instructions and directions sent by Electronic Means.
发行人及担保人均同意,第8.4条所载的弥偿适用于任何代理人及受托人因按照电子方式发出的指示及指示而蒙受的任何损失或责任。

Notwithstanding anything to the contrary contained in this Trust Deed, the Agency Agreement and the Conditions, notices, requests, instructions, and other communications to the Trustee shall not be valid unless such notice is delivered to the Trustee in writing.
尽管本信托契约中有任何相反的规定,但除非以书面形式向受托人发出通知,否则代理协议和条件、通知、请求、指示和其他通信均无效。

CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999
1999年《合同(第三方权利)法》

A person who is not a party to this Trust Deed has no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Trust Deed except and to the extent (if any) that this Trust Deed expressly provides for such Act to apply to any of its terms and this shall not affect any right or remedy which exists or is available apart from such Act and is without prejudice to the rights of the Bondholders. The parties to this Trust Deed shall have the right to amend, vary or rescind any provision of this Trust Deed without the consent of any such third party.
根据 1999 年《合同(第三方权利)法》,非本信托契约一方的人无权执行本信托契约的任何条款,除非本信托契约明确规定该法案适用于其任何条款(如果有),这不应影响除该法案之外存在或可用的任何权利或补救措施,并且没有损害债券持有人的权利。本信托契约的各方有权修改、更改或撤销本信托契约的任何条款,而无需任何此类第三方的同意。

FURTHER ISSUES
其他问题

Further Issues
其他问题

The Issuer may from time to time without the consent of the Bondholders create and issue further bonds having the same terms and conditions as the Bonds in all respects (or in all respects except for the issue date, the first payment of interest on them, the timing for complying with the Registration Conditions and the making of the SAFE Registration, the making or submission of the NDRC Post-issue Filing and the related notification to the Trustee and the Bondholders thereof) and so that such further issue shall be consolidated and form a single series with the outstanding bonds of any series (including the Bonds). References in this Trust Deed to the Bonds include (unless the context requires otherwise) any other bonds issued pursuant to Condition 15 and forming a single series with the Bonds.
发行人可不时在未经债券持有人同意的情况下,在所有方面(或在所有方面,发行日期、首次支付利息、遵守注册条件的时间和进行外管局注册, 向受托人及其债券持有人提交或提交国家发改委发行后备案及相关通知),以便将该进一步发行的债券合并,并与任何系列的未偿债券(包括债券)形成一个系列。本信托契约中对债券的引用包括(除非上下文另有要求)根据第 15 条发行并与债券构成单一系列的任何其他债券。

Supplemental Trust Deed
补充信托契约

Any further bonds consolidated and forming a single series with the outstanding Bonds constituted by this Trust Deed or any deed supplemental to it shall be constituted by a deed supplemental to this Trust Deed and be guaranteed by the Guarantor pursuant to a deed supplemental to the Deed of Guarantee. In any such case, the Issuer and the Guarantor shall prior to the issue of any such further bonds execute and deliver to the Trustee a trust deed supplemental to this Trust Deed (in relation to which all applicable stamp duties or other documentation fees, duties or taxes have been paid by the Issuer, failing whom the Guarantor, and, if applicable, duly stamped or denoted accordingly) containing, in the case of any deed supplemental to this Trust Deed, covenants by the Issuer and the Guarantor in the form mutatis mutandis of Clause 2.2 in relation to such further bonds and such other provisions (whether or not corresponding to any of the provisions contained in this Trust Deed and/or the Deed of Guarantee, as the case may be) as the Trustee shall require including making such consequential modifications to this Trust Deed and the Deed of Guarantee, as the case may be, as the Trustee shall require and such other documents and opinions as the Trustee may require in order to give effect to such issue of any such further bonds.
任何与本信托契约或其任何补充契约构成的未偿债券合并并形成单一系列的进一步债券应由本信托契约的补充契约构成,并由担保人根据担保契约的补充契约提供担保。在任何此类情况下,发行人和担保人应在发行任何此类进一步债券之前签署并向受托人交付一份补充本信托契约的信托契约(发行人已就此支付所有适用的印花税或其他文件费、关税或税款,否则担保人, 以及(如适用),在对本信托契约进行补充的任何契约的情况下,包含发行人和担保人以第2.2条比照形式就此类进一步债券和其他条款(无论是否与本信托契约和/或担保契约中包含的任何条款相对应)的契约, (视情况而定)包括对本信托契约和担保契约(视情况而定)进行相应的修改,如受托人要求的那样,以及受托人可能要求的其他文件和意见,以使任何此类进一步债券的发行生效。

Notice to Trustee
受托人通知书

Whenever it is proposed to create and issue any further bonds in accordance with Condition 15, the Issuer or the Guarantor shall give to the Trustee not less than 14 days prior notice in writing of its intention so to do stating the amount of further bonds proposed to be created and issued, which notice shall be accompanied by a draft of the proposed supplemental trust deed and proposed supplemental Deed of Guarantee.
每当根据第15条拟设立及发行任何进一步债券时,发行人或担保人须至少提前14天以书面形式通知受托人其拟设立及发行的进一步债券的金额,该通知须附有拟议的补充信托契约及拟议的补充担保契约的草稿。

COUNTERPARTS
同行

This Trust Deed may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a same copy of this Trust Deed.
本信托契约可以在任意数量的副本中执行,这与副本上的签名在本信托契约的同一副本上具有相同的效果。

GOVERNING LAW AND JURISDICTION
适用法律和管辖权

Governing Law
适用法律

This Trust Deed and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with English law.
本信托契约以及由此产生或与之相关的任何非合同义务应受英国法律管辖并按英国法律解释。

Jurisdiction
管辖

The courts of Hong Kong are to have exclusive jurisdiction to settle any disputes which may arise out of or in connection with this Trust Deed or the Bonds and accordingly any legal action or proceedings arising out of or in connection with this Trust Deed or the Bonds (“Proceedings”) may be brought in such courts. Each of the parties irrevocably submits to the exclusive jurisdiction of such courts and waives any objection to Proceedings in such courts on the ground of venue or on the ground that the Proceedings have been brought in an inconvenient forum.
香港法院拥有专属管辖权,以解决因本信托契约或债券而可能引起或与之相关的任何争议,因此,因本信托契约或债券引起或与之相关的任何法律诉讼或法律程序(“法律程序”)均可提交该等法院。每一方当事人均不可撤销地服从此类法院的专属管辖权,并放弃以审判地或诉讼在不方便的法院提起为由对此类法院的诉讼程序提出任何异议。

Service of Process
流程服务

Each of the Issuer and the Guarantor irrevocably appoints The Law Debenture Corporation (H.K.) Limited at Suite 1301, Ruttonjee House, Ruttonjee Centre, 11 Duddell Street, Central, Hong Kong, as its authorised agent in Hong Kong to accept service of process in any Proceedings in Hong Kong based on any of the Bonds and this Trust Deed. Such service shall be deemed completed on delivery to such process agent (whether or not it is forwarded to and received by the Issuer and the Guarantor). If for any reason such authorised agent shall cease to be such agent for service of process, each of the Issuer and the Guarantor will promptly appoint a substitute process agent and shall deliver to the Trustee a copy of the substitute process agent’s acceptance of that appointment within 30 days of such cessation and shall notify the Bondholders and the Trustee of such appointment. Nothing in this Clause 21.3 shall affect the right to serve process in any other manner permitted by law.
发行人及担保人均不可撤销地委任The Law Debenture Corporation (H.K.)有限公司位于香港中环都爹利街11号Ruttonjee Centre, Ruttonjee House, 1301室,作为其在香港的授权代理人,根据任何债券和本信托契约接受香港任何法律程序的送达。该送达在交付给该过程代理人时即视为完成(无论是否转发给发行人和担保人并由签发人和担保人接收)。倘若该获授权代理人因任何原因不再担任该传票送达代理人,发行人及担保人应立即委任一名替代传票代理人,并须在该传票代理人接受该传票传送后30日内向受托人交付该传票代理人接受该传票的副本,并应将该委任通知债券持有人及受托人。本第 21.3 条中的任何内容均不影响以法律允许的任何其他方式送达传票的权利。

Waiver of Immunity
豁免权的放弃

Each of the Issuer and the Guarantor hereby irrevocably and unconditionally waives any right to claim sovereign or other immunity from jurisdiction or execution and any similar defence, and irrevocably consents to the giving of any relief or the issue of any process, including, without limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment made or given in connection with any Proceedings.
发行人及担保人特此不可撤销且无条件地放弃就管辖权或执行及任何类似抗辩主张主权或其他豁免权的任何权利,并不可撤销地同意给予任何救济或发出任何程序,包括但不限于针对任何财产(无论其用途或预期用途)作出、执行或执行与任何程序有关的任何命令或判决。

Partial Invalidity
部分无效

If any provision in or obligation under this Trust Deed is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction, that will not affect or impair (i) the validity, legality or enforceability under the law of that jurisdiction of any other provision in or obligation under this Trust Deed, and (ii) the validity, legality or enforceability under the law of any other jurisdiction of that or any other provision in or obligation under this Trust Deed.
如果本信托契约中的任何条款或义务在任何方面根据任何司法管辖区的法律无效、非法或不可执行,则不会影响或损害 (i) 本信托契约项下任何其他条款或义务在该司法管辖区法律下的有效性、合法性或可执行性,以及 (ii) 有效性, 根据任何其他司法管辖区的法律,本信托契约中的任何其他条款或义务的合法性或可执行性。

22


FORMS OF GLOBAL CERTIFICATE AND CERTIFICATE
全球证书和证书的形式

22

PART A
第一部分

FORM OF GLOBAL CERTIFICATE
全球证书形式

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司)
Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南浔旅游投资发展集团有限公司)

(incorporated in the People’s Republic of China with limited liability)
(在中华人民共和国注册成立,承担有限责任)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027
75,000,000美元 6.5%。2027年到期的担保债券

Unconditionally and Irrevocably Guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

GLOBAL CERTIFICATE
全球证书

This Global Certificate is issued in respect of the principal amount specified above of the Bonds (the “Bonds”) of Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司) (the “Issuer”) and guaranteed by Huzhou Nanxun Cultural Tourism Development Group Co., Ltd. (湖州南潯文旅發展集團有限公司) (the “Guarantor”). This Global Certificate certifies that HSBC Nominees (Hong Kong) Limited as nominee of The Hongkong and Shanghai Banking Corporation Limited as the common depositary for Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream”), being the person whose name is entered in the Register is registered as the holder of such principal amount of the Bonds at the date hereof. This Global Certificate is evidence of entitlement only, title to the Bonds represented by this Global Certificate passes only on due registration on the Register, and only the Registered Holder of the Bonds represented by this Global Certificate is entitled to payments in respect of the Bonds represented by this Global Certificate.
本环球证书是就湖州南潯旅旅游发展集团有限公司(「发行人」)的债券(「债券」)的上述本金(「债券」)发行,并由湖州南潯文旅发展集团有限公司(「担保人」)担保。本全球证书证明汇丰会计师事务所(香港)有限公司作为香港上海汇丰银行有限公司的代名人,作为欧洲清算银行(「欧洲清算」)及明讯银行股份有限公司(「明讯」)的共同存管人,即登记册上登记的人士,于本证书日期已登记为该等债券本金额的持有人。本全球证书仅作为权利证明,本全球证书所代表的债券的所有权仅在登记册上适当注册后转移,并且只有本全球证书所代表的债券的注册持有人才有权获得本全球证书所代表的债券的付款。

Interpretation and Definitions
解释和定义

References in this Global Certificate to the “Conditions” are to the Terms and Conditions applicable to the Bonds (which are in the form set out in Schedule 2 to the Trust Deed (the “Trust Deed”) dated 5 July 2024 between the Issuer, the Guarantor and CMB Wing Lung (Trustee) Limited as trustee (the “Trustee”), as such form is supplemented and/or modified and/or superseded by the provisions of this Global Certificate, which in the event of any conflict shall prevail). Other capitalised terms used in this Global Certificate shall have the meanings given to them in the Conditions or the Trust Deed.
本全球证书中提及的「条件」是指发行人、担保人与招商永隆(受托人)有限公司作为受托人(「受托人」)于2024年7月5日签订的债券(「信托契约」)附表2所载的适用于债券的条款及细则,因为该等表格已由本环球证书的条文补充及/或修改及/或取代, 如果发生任何冲突,应以此为准)。本全球证书中使用的其他大写术语应具有条件或信托契约中赋予它们的含义。

Promise to Pay
承诺付款

The Issuer, for value received, promises to pay to the holder of the Bonds represented by this Global Certificate (subject to surrender of this Global Certificate if no further payment falls to be made in respect of such Bonds) on 5 July 2027 (or on such earlier date as the amount payable upon redemption under the Conditions may become repayable in accordance with the Conditions) the amount payable upon redemption under the Conditions in respect of the Bonds represented by this Global Certificate and to pay interest in respect of such Bonds from 5 July 2024 (the “Issue Date”) in arrear at the rates, on the dates for payment, and in accordance with the method of calculation provided for in the Conditions, save that the calculation is made in respect of the total aggregate amount of the Bonds represented by this Global Certificate, together with such other sums and additional amounts (if any) as may be payable under the Conditions, in accordance with the Conditions.
发行人承诺于2027年7月5日(或根据本条件赎回时应支付的金额可能根据本条件偿还的较早日期)向本全球证书所代表的债券持有人支付本全球证书所代表的债券持有人(如该等债券无须再支付,则该等债券须交还本全球证书)自2024年7月5日(「发行日」)起,按支付日期的利率、付款日及本条件规定的计算方法支付该等债券的利息,但该计算是就本全球证书所代表的债券总额进行的, 以及根据本条件可能根据本条件应支付的其他款项和额外金额(如有)。

Each payment will be made to, or to the order of, the person whose name is entered on the Register at the close of business on the record date which shall be the Clearing System Business Day immediately prior to the date for payment, where “Clearing System Business Day” means a weekday (Monday to Friday, inclusive) except 25 December and 1 January.
每笔付款均须于登记日(即紧接付款日期前的结算系统工作日)营业结束时,向登记册上登记的人士支付或按其订单支付,其中“结算系统工作日”是指除12月25日和1月1日以外的工作日(星期一至星期五)。

For the purposes of this Global Certificate, (a) the holder of the Bonds represented by this Global Certificate is bound by, and deemed to have notice of, all the provisions of the Trust Deed and the Deed of Guarantee, (b) the Issuer certifies that the Registered Holder is, at the date hereof, entered in the Register as the holder of the Bonds represented by this Global Certificate, (c) this Global Certificate is evidence of entitlement only, (d) title to the Bonds represented by this Global Certificate passes only on due registration on the Register, and (e) only the holder of the Bonds represented by this Global Certificate is entitled to payments in respect of the Bonds represented by this Global Certificate.
就本全球证书而言,(a) 本全球证书所代表的债券持有人受信托契约和担保契约的所有条款的约束并被视为已通知,(b) 发行人证明注册持有人在本协议发布之日已作为本全球证书所代表的债券的持有人登记在登记册中, (c) 本全球证书仅作为权利证明,(d) 本全球证书所代表的债券的所有权仅在登记册上适当注册后转移,以及 (e) 只有本全球证书所代表的债券的持有人才有权获得本全球证书所代表的债券的付款。

Exchange of Bonds Represented by Global Certificate
以全球证书为代表的债券交换

Owners of interests in the Bonds in respect of which this Global Certificate is issued will be entitled to have title to the Bonds registered in their names and to receive individual definitive Certificates if either Euroclear or Clearstream, or any other clearing system selected by the Issuer and the Guarantor and approved in writing by the Trustee, the Principal Paying Agent and the Registrar through which the Bonds are held (an “Alternative Clearing System”) is closed for business for a continuous period of 14 days (other than by reason of holidays, statutory or otherwise) or announces an intention permanently to cease business or does in fact do so. In such circumstances, the Issuer at its own expense will cause sufficient individual definitive Certificates to be executed and delivered to the Registrar for completion, authentication and despatch to the relevant holders of the Bonds. A person with an interest in the Bonds in respect of which this Global Certificate is issued must provide the Registrar not less than 30 days’ notice at its specified office of such holder’s intention to effect such exchange and a written order containing instructions and such other information as the Issuer and the Registrar may require to complete, execute and deliver such individual definitive Certificates.
发行本全球证书的债券权益所有者将有权拥有以其名义注册的债券的所有权,并有权获得单独的最终证书(如果是Euroclear或Clearstream),或发行人和担保人选择并经受托人书面批准的任何其他清算系统, 主要付款代理人和持有债券的注册处(“替代结算系统”)连续关闭营业14天(由于假期、法定或其他原因除外)或宣布打算永久停止业务或实际上确实停止营业。在此情况下,发行人将自费签署足够的个人最终证书,并交付给注册处,以便完成、认证并发送给债券的相关持有人。在发行本全球证书的债券中拥有权益的人必须至少提前 30 天在其指定办事处向注册服务商提供该持有人进行此类交换的意向通知,并提交一份书面命令,其中包含发行人和注册服务商可能要求填写的指示和其他信息, 执行和交付此类个人最终证书。

Notices
通知

So long as the Bonds are represented by this Global Certificate and this Global Certificate is held on behalf of Euroclear or Clearstream or any Alternative Clearing System, notices to holders of the Bonds shall be validly given by delivery of the relevant notice to Euroclear of Clearstream or such Alternative Clearing System, for communication by it to accountholders entitled to an interest in the Bonds in substitution for notification as required by the Conditions and any such notice shall be deemed to have been given to the Bondholders on the day on which such notice is delivered to Euroclear and Clearstream. Except that, so long as the Bonds are listed and/or admitted to trading, notices required to be given to Bondholders pursuant to the Conditions shall also be published by the Issuer (if such publication is required) in a manner which complies with the rules and regulations of any stock exchange or other relevant authority on which the Bonds are listed and/or admitted to trading.
只要债券由本全球证书代表,并且本全球证书代表Euroclear或Clearstream或任何替代清算系统持有,则应通过向Clearstream或此类替代清算系统的Euroclear发送相关通知,有效地向债券持有人发出通知,由其传达给有权获得债券权益的账户持有人,以代替条件要求的通知任何此类通知应被视为在向Euroclear和Clearstream送达该通知之日已向债券持有人发出。但只要债券已上市及/或获准买卖,发行人亦须以符合债券上市及/或获准买卖的任何证券交易所或其他相关当局的规则及规例的方式,刊发根据本条件须向债券持有人发出的通知(如须刊发)。

Meetings
会议

For the purposes of any meeting of Bondholders, the holder of the Bonds represented by this Global Certificate shall (unless this Global Certificate represents only one Bond) be treated as two persons for the purposes of any quorum requirements of a meeting of Bondholders and as being entitled to one vote in respect of each integral currency unit of the currency of the Bonds.
就任何债券持有人会议而言,就债券持有人会议的任何法定人数要求而言,本全球证书所代表的债券持有人(除非本全球证书仅代表一种债券)应被视为两人,并有权就债券货币的每个整数货币单位拥有一票表决权。

Bondholder’s Redemption
债券持有人的赎回

The Bondholder’s redemption options in Condition 6(c) may be exercised by the holder of this Global Certificate giving notice to the Principal Paying Agent within the time limits specified in the Conditions, in accordance with the rules and procedures of Euroclear and Clearstream or any Alternative Clearing System, and stating the principal amount of Bonds in respect of which the option is exercised.
本全球证书的持有人可根据Euroclear和Clearstream或任何替代清算系统的规则和程序,在条件规定的时限内向主付款代理发出通知,并说明行使该选择权的债券本金金额,从而行使条件6(c)中的债券持有人的赎回选择权。

Issuer’s Redemption
发行人的赎回

The option of the Issuer provided for in Conditions 6(b) shall be exercised by the Issuer giving notice to the Bondholders within the time limits set out in and containing the information required by that the Conditions.
第6(b)条所规定的发行人选择权应由发行人行使,并在该条件规定的时限内向债券持有人发出通知,并载明该条件所要求的信息。

Transfers
转移

Transfers of beneficial interests in the Bonds represented by this Global Certificate will be effected through the records of Euroclear and Clearstream (or any Alternative Clearing System) and their respective participants in accordance with the rules and procedures of Euroclear and Clearstream (or any Alternative Clearing System) and their respective direct and indirect participants.
本全球证书所代表的债券的实益权益转让将根据Euroclear和Clearstream(或任何替代清算系统)及其各自参与者的规则和程序,通过Euroclear和Clearstream(或任何替代清算系统)及其各自的直接和间接参与者的记录进行。

Cancellation
取消

Cancellation of any Bond represented by this Global Certificate by the Issuer following its redemption or purchase by the Issuer, the Guarantor and their respective Subsidiaries will be effected by a reduction in the principal amount of the Bonds in the register of Bondholders and this Global Certificate on its presentation to or to the order of the Registrar for annotation (for information only) in the Schedule hereto.
发行人、担保人及其各自子公司赎回或购买本全球证书所代表的任何债券后,将通过减少债券持有人登记册中的债券本金金额以及本全球证书向注册服务商提交或按本附表注释(仅供参考)的命令进行注解而生效。

Trustee’s Powers
受托人的权力

In considering the interests of Bondholders while this Global Certificate is registered in the name of a nominee for a clearing system, the Trustee may, to the extent it considers it appropriate to do so in the circumstances, but without being obliged to do so, (a) have regard to any information as may have been made available to it by or on behalf of the relevant clearing system or its operator as to the identity of its accountholders (either individually or by way of category) with entitlements in respect of the Bonds and (b) consider such interests on the basis that such accountholders were the holders of the Bonds in respect of which this Global Certificate is issued.
当本全球证书以清算系统代名人的名义注册时,在考虑债券持有人的利益时,受托人可以在其认为适当的情况下这样做,但无义务这样做,(a)考虑相关清算系统或其运营商或代表其可能向其提供的有关身份的任何信息其账户持有人(单独或按类别)享有与债券有关的权利,以及(b)根据该等账户持有人是签发本全球证书的债券持有人来考虑该等权益。

This Global Certificate shall not become valid for any purpose until authenticated by or on behalf of the Registrar.
本全球证书在由注册服务商或代表注册服务商进行认证之前,不得用于任何目的。

This Global Certificate, and any non-contractual obligations arising out of or in connection with it, shall be governed by and construed in accordance with English law
本全球证书以及由此产生或与之相关的任何非合同义务应受英国法律管辖并按其解释

22

In witness whereof the Issuer has caused this Global Certificate to be signed on its behalf.
作为证明,颁发者已代表其签署本全球证书。

Dated as of the Issue Date.
日期截至发行日期。

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.
湖州南讯旅游投资发展集团有限公司 (HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

By:
由:

Certificate of Authentication
认证证书

This Global Certificate is authenticated
此全局证书已通过身份验证

by or on behalf of the Registrar
由书记官长或代表书记官长

without recourse, warranty or liability.
没有追索权、保证或责任。

CMB WING LUNG BANK LIMITED
招商永隆银行有限公司

as Registrar
作为注册商

By:
由:

Authorised Signatory
授权签字人

For the purposes of authentication only.
仅用于身份验证。

Form of Transfer
转让形式

For value received the undersigned transfers to
对于收到的价值,以下签名的转账

                                                                                                                                                             

                                                                                                                                                             

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF TRANSFEREE)
(请打印或打字受让人姓名及地址)

U.S.$[●] principal amount of the Bonds represented by this Global Certificate, and all rights under them.
本全球证书所代表的债券的本金金额,以及其项下的所有权利。

Dated
约会

SignedCertifying Signature
签名证明签名

Notes:
笔记:

The signature of the person effecting a transfer shall conform to a list of duly authorised specimen signatures supplied by the holder of the Bonds represented by this Global Certificate or (if such signature corresponds with the name as it appears on the face of this Global Certificate) be certified by a notary public or a recognised bank or be supported by such other evidence as a Transfer Agent or the Registrar may require.
进行转让的人的签名应符合本全球证书所代表的债券持有人提供的正式授权签名样本清单,或(如果该签名与本全球证书正面显示的名称相符)由公证人或认可银行认证,或由转让代理或注册服务商可能要求的其他证据支持。

A representative of the Bondholder should state the capacity in which he signs e.g. executor.
债券持有人的代表应说明其签署身份,例如遗嘱执行人。

PRINCIPAL PAYING AGENT, REGISTRAR AND TRANSFER AGENT
主付款代理、注册代理和过户代理

CMB WING LUNG BANK LIMITED
招商永隆银行有限公司

CMB Wing Lung Bank Building
招商永隆银行大厦

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

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Schedule of Increases/Reductions in Principal Amount of Bonds in respect of which this Global Certificate is Issued
发行本全球证书的债券本金金额的增加/减少时间表

The following increases/reductions in the principal amount of Bonds in respect of which this Global Certificate is issued have been made as a result of:
本全球证书所针对的债券本金金额的以下增加/减少是由于:

redemption of Bonds,
债券赎回,

purchase and cancellation of Bonds,
购买和注销债券,

partial exchange for definitive Certificates, or
部分交换最终证书,或

further issues
其他问题

Date (stating reason for change in the principal amount)
日期(说明本金金额变动的原因)

Amount of increase/decrease in principal amount of this Global Certificate
本全球证书本金增加/减少的金额

Principal amount of this Global Certificate following such increase/decrease
增加/减少后本全球证书的本金

Notation made by or on behalf of the Registrar
由书记官长或代表书记官长作出的注释

Schedule 1
附表1

41

PART 2
第 2 部分

FORM OF CERTIFICATE
证书形式

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

On the front:
在正面:

Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司)
Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南浔旅游投资发展集团有限公司)

(incorporated in the People’s Republic of China with limited liability)
(在中华人民共和国注册成立,承担有限责任)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027
75,000,000美元 6.5%。2027年到期的担保债券

Unconditionally and Irrevocably Guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

CERTIFICATE
证书

Certificate No. [●]
证书编号[●]

This Certificate certifies that [●] of [●] (the “Registered Holder”) is, as at the date hereof, registered as the holder of principal amount of the Bonds referred to above (the “Bonds”) of Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司) (the “Issuer”). The Bonds are subject to the Terms and Conditions (the “Conditions”) endorsed hereon and are issued subject to, and with the benefit of, the Trust Deed referred to in the Conditions. Expressions defined in the Conditions have the same meanings in this Certificate.
本证书证明,于本证书日期,湖州南潯旅遊投发展集团有限公司(「发行人」)的[●](「登记持有人」)已登记为湖州南潯旅遊投资发展集团有限公司(「发行人」)上述债券(「债券」)本金持有人。债券受本协议认可的条款和条件(“条件”)的约束,并受条件中提及的信托契约的约束并受信托契约的约束而发行。条件中定义的表达式在本证书中具有相同的含义。

The Issuer, for value received, promises to pay to or to the order of, the Registered Holder of the Bonds represented by this Certificate (subject to surrender of this Certificate if no further payment falls to be made in respect of such Bonds) on the Maturity Date (or on such earlier date as the amount payable upon redemption under the Conditions may become payable in accordance with the Conditions) the amount payable upon redemption under the Conditions in respect of the Bonds represented by this Certificate and (unless the Bonds represented by this Certificate do not bear interest) to pay interest in respect of such Bonds in accordance with the Conditions together with such other sums and additional amounts (if any) as may be payable under the Conditions, in accordance with the Conditions.
发行人就所收取的价值,承诺在到期日(或根据本条件赎回时应支付的金额可能根据本条件支付的较早日期)向本证书所代表的债券的注册持有人支付或按其订单支付(如该等债券无须再支付,则该等债券须交还本证书),该等款项在赎回时应支付的金额本凭证所代表的债券的条件,以及(除非本凭证所代表的债券不计息)根据条件支付该等债券的利息,以及根据条件可能应支付的其他款项和额外金额(如有)。

For the purposes of this Certificate, (a) the Registered Holder of the Bonds represented by this Certificate is bound by all the provisions of the Trust Deed and the Deed of Guarantee, (b) the Issuer certifies that the Registered Holder is, at the date hereof, entered in the Register as the holder of the Bonds represented by this Certificate, (c) this Certificate is evidence of entitlement only, (d) title to the Bonds represented by this Certificate passes only on due registration on the Register, and (e) only the Registered Holder of the Bonds represented by this Certificate is entitled to payments in respect of the Bonds represented by this Certificate.
就本证书而言,(a) 本证书所代表的债券的注册持有人受信托契约和担保契约的所有条款的约束,(b) 发行人证明注册持有人在本证书发布之日已作为本证书所代表的债券的持有人登记在登记册中, (c) 本证书仅作为权利的证明,(d) 本证书所代表的债券的所有权仅在登记册上适当登记后转移,以及 (e) 只有本证书所代表的债券的注册持有人才有权就本证书所代表的债券获得付款。

This Certificate shall not become valid for any purpose until authenticated by or on behalf of the Registrar.
本证书在经注册服务商或代表注册商认证之前,不得用于任何目的。

This Certificate, and any non-contractual obligations arising out of or in connection with it, shall be governed by and construed in accordance with English law.
本证书以及由此产生或与之相关的任何非合同义务应受英国法律管辖并按其解释。

41

In witness whereof the Issuer has caused this Certificate to be signed on its behalf.
作为见证,签发人已代表其签署本证书。

Dated as of the Issue Date.
日期截至发行日期。

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.
湖州南讯旅游投资发展集团有限公司 (HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

By:
由:

41

Certificate of Authentication
认证证书

This Certificate is authenticated
此证书已通过身份验证

by or on behalf of the Registrar
由书记官长或代表书记官长

without recourse, warranty or liability.
没有追索权、保证或责任。

CMB WING LUNG BANK LIMITED
招商永隆银行有限公司

as Registrar
作为注册商

By:
由:

By:
由:

Authorised Signatories
授权签字人

For the purposes of authentication only.
仅用于身份验证。

41

On the back:
背面:

Terms and Conditions of the Bonds
债券条款及细则

[THE TERMS AND CONDITIONS THAT ARE SET OUT IN SCHEDULE 2 TO THE TRUST DEED WILL BE SET OUT HERE]
[信托契约附表2所载的条款及细则将在此列出]

Form of Transfer
转让形式

For value received the undersigned transfers to
对于收到的价值,以下签名的转账

                                                                                                                                                             

                                                                                                                                                             

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF TRANSFEREE)
(请打印或打字受让人姓名及地址)

U.S.$[●] principal amount of the Bonds represented by this Certificate, and all rights under them.
本证书所代表的债券的本金金额及其项下的所有权利。

Dated
约会

SignedCertifying Signature
签名证明签名

Notes:
笔记:

The signature of the person effecting a transfer shall conform to a list of duly authorised specimen signatures supplied by the holder of the Bonds represented by this Certificate or (if such signature corresponds with the name as it appears on the face of this Certificate) be certified by a notary public or a recognised bank or be supported by such other evidence as a Transfer Agent or the Registrar may require.
进行转让的人的签名应符合本证书所代表的债券持有人提供的正式授权签名样本清单,或(如果该签名与本证书正面显示的名称相符)由公证人或认可银行认证,或由转让代理人或注册官可能要求的其他证据支持。

A representative of the Bondholder should state the capacity in which he signs eg executor.
债券持有人的代表应说明他签署遗嘱执行人的身份。

[TO BE COMPLETED BY TRANSFEREE:
[由受让人填写:

[INSERT ANY REQUIRED TRANSFEREE REPRESENTATIONS, CERTIFICATIONS ETC]]
[插入任何必要的受让人陈述、证明等]]

PRINCIPAL PAYING AGENT, REGISTRAR AND TRANSFER AGENT
主付款代理、注册代理和过户代理

CMB WING LUNG BANK LIMITED
招商永隆银行有限公司

CMB Wing Lung Bank Building
招商永隆银行大厦

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

42


TERMS AND CONDITIONS OF THE BONDS
债券的条款及细则

[Note: To insert the final T&Cs]
[注:插入最终的条款和条件]

42


PROVISIONS FOR MEETINGS OF BONDHOLDERS
债券持有人会议的规定

Interpretation
解释

In this Schedule:
在此附表中:

references to a meeting are to a physical meeting or a virtual meeting of Bondholders and include, unless the context otherwise requires, any adjournment;
对会议的提及是指债券持有人的实体会议或虚拟会议,除非上下文另有要求,否则包括任何休会;

agent” means a proxy or a representative;
“代理人”是指代理人或代表;

Electronic Consent” has the meaning set out in paragraph 23;
“电子同意”具有第 23 段所述的含义;

electronic platform” means any form of telephony or electronic platform or facility and includes, without limitation, telephone and video conference call and application technology systems;
“电子平台”是指任何形式的电话或电子平台或设施,包括但不限于电话和视频电话会议以及应用技术系统;

Extraordinary Resolutionmeans a resolution passed (a) at a meeting duly convened and held in accordance with this Trust Deed by a majority of at least 75 per cent. of the votes cast, (b) by a Written Resolution or (c) by an Electronic Consent;
“特别决议”是指 (a) 在根据本信托契约正式召集和举行的会议上以至少 75% 的多数通过的决议。(b)通过书面决议或(c)通过电子同意的投票;

meeting” means a meeting convened pursuant to this Schedule by the Issuer or Guarantor or the Trustee and whether held as a physical meeting or as a virtual meeting;
「会议」指发行人、担保人或受托人根据本附表召开的会议,不论是以实体会议还是虚拟会议形式举行;

physical meeting” means any meeting attended by persons present in person at the physical location specified in the notice of such meeting;
“实体会议”是指在会议通知中指明的实际地点亲自出席的任何会议;

present” means physically present in person at a physical meeting, or able to participate in a virtual meeting via an electronic platform;
“出席”是指亲自出席实体会议,或能够通过电子平台参加虚拟会议;

virtual meeting” means any meeting held via an electronic platform;
“虚拟会议”是指通过电子平台举行的任何会议;

Written Resolutionhas the meaning set out in paragraph 23;
“书面决议”具有第23段所述的含义;

references to persons representing a proportion of the Bonds are to the Bondholders or agents holding or representing in the aggregate at least that proportion in principal amount of the Bonds for the time being outstanding; and
所指代表一定比例债券的人士,是指持有或代表目前未偿还债券本金总额至少为该比例的债券持有人或代理人;和

where Bonds are held by Euroclear or Clearstream an Alternative Clearing System, references herein to the deposit or release or surrender of Bonds shall be construed in accordance with the usual practices (including in relation to the blocking of the relevant account) of Euroclear or Clearstream or such Alternative Clearing System.
如果债券由Euroclear或Clearstream(替代清算系统)持有,则本文中提及的债券的存入、释放或交出应根据Euroclear或Clearstream或此类替代清算系统的通常惯例(包括与冻结相关账户有关的做法)进行解释。

Appointment of Proxy or Representative
委任代理人或代表

A proxy or representative may be appointed in the following circumstances:
在下列情况下,可以指定代理人或代表:

A holder of Bonds may, by an instrument in writing in the English language (a “form of proxy”) in the form available from the specified office of any Agent signed by the holder or, in the case of a corporation, executed under its common seal or signed on its behalf by an attorney or a duly authorised officer of the corporation and delivered to the specified office of the Registrar or the Transfer Agent not less than 48 hours before the time fixed for the relevant meeting, appoint any person (a “proxy”) to act on his or its behalf in connection with any meeting of the Bondholders and any adjourned such meeting.
债券持有人可以英文书面文书(“委托书”)的形式,以持有人签署的任何代理人的指定办事处提供的表格,或就公司而言,在其公章下签署或由公司的律师或正式授权人员代表其签署并交付给注册处处长或转让代理的指定办事处,但不得在有关会议的预定时间前48小时内,委任任何人(“代理人”)代表其行事,处理债券持有人的任何会议和任何延期的会议。

Any holder of Bonds which is a corporation may, by delivering to any Agent not later than 48 hours before the time fixed for any meeting a resolution of its directors or other governing body in English, authorise any person to act as its representative (a “representative”) in connection with any meeting of the Bondholders and any adjourned such meeting.
任何债券持有人(如为法团)可不迟于任何会议的指定时间前48小时向任何代理人交付其董事或其他管理机构的英文决议,授权任何人在债券持有人的任何会议和任何延期的会议中担任其代表(“代表”)。

If the holder of a Bond is an Alternative Clearing System or a nominee of an Alternative Clearing System and the rules or procedures of such Alternative Clearing System so require, such nominee or Alternative Clearing System may appoint proxies in accordance with, and in the form used, by such Alternative Clearing System as part of its usual procedures from time to time in relation to meetings of Bondholders. Any proxy so appointed may, by an instrument in writing in the English language in the form available from the specified office of the Registrar, or in such other form as may have been approved by the Trustee at least seven days before the date fixed for a meeting, signed by the proxy or, in the case of a corporation, executed under its common seal or signed on its behalf by an attorney or a duly authorised officer of the corporation and delivered to the Registrar or any Transfer Agent not later than 48 hours before the time fixed for any meeting, appoint the Principal Paying Agent or any employee of it nominated by it (the “sub-proxy”) to act on his or its behalf in connection with any meeting or proposed meeting of Bondholders. All references to “proxy” or “proxies” in this Schedule other than in this sub-paragraph 2.3 shall be read so as to include references to “sub-proxy” or “sub-proxies”.
倘若债券持有人是另类结算系统或另类结算系统的代名人,而该另类结算系统的规则或程序有此要求,则该代名人或另类结算系统可根据该另类结算系统所使用的形式委任代理人,作为其不时与债券持有人会议有关的通常程序的一部分。任何如此委任的委任人,均可以英文书面文书,以书记官长指定办事处提供的表格,或受托人可能在确定的会议日期前至少七天批准的其他形式,由代理人签署,或(如属法团)签署, 在其公章下签署或由公司的律师或正式授权人员代表其签署,并在任何会议的预定时间前 48 小时内交付给注册处处长或任何转让代理,指定主要付款代理人或其提名的任何雇员(“次级代理”)代表他或她行事与任何债券持有人会议或拟议的会议有关。除本第2.3款外,本附表中所有提及“代理”或“代理”的提述均应理解为包括对“次级代理”或“次级代理”的提及。

For so long as the Bonds are eligible for settlement through an Alternative Clearing System’s book-entry settlement system and the rules or procedures of such Alternative Clearing System so require, the Issuer may fix a record date for the purpose of any meeting, provided such record date is no more than 10 days prior to the date fixed for such meeting which shall be specified in the notice convening the meeting.
只要债券符合通过另类结算系统的簿记结算系统进行交收的资格,以及该另类结算系统的规则或程序有此要求,发行人就可以为任何会议的目的设定一个记录日期,但该记录日期不得超过该会议的确定日期前10天,该日期应在召开会议的通知中指定。

Any proxy appointed pursuant to sub-paragraph 2.1 or sub-paragraph 2.3 above or representative appointed pursuant to sub-paragraph 2.2 above shall, so long as such appointment remains in full force, be deemed, for all purposes in connection with the relevant meeting or adjourned meeting of the Bondholders, to be the holder of the Bonds to which such appointment relates and the holder of the Bonds shall be deemed for such purposes not to be the holder or owner, respectively.
根据上文第2.1款或第2.3款委任的任何代理人或根据上文第2.2款委任的代表,只要该委任仍然完全有效,就与债券持有人的相关会议或续会有关的所有目的而言,均应被视为与该委任有关的债券的持有人,而债券持有人应被视为非持有人或所有者。

Powers of Meetings
会议的权力

A meeting shall, subject to the Conditions and without prejudice to any powers conferred on other persons by this Trust Deed, have power by Extraordinary Resolution:
在不违反条件的情况下,在不损害本信托契约授予其他人的任何权力的情况下,会议应通过特别决议获得权力:

to sanction any proposal by the Issuer, the Guarantor or the Trustee for any modification, abrogation, variation or compromise of, or arrangement in respect of, the rights of the Bondholders against the Issuer or the Guarantor, whether or not those rights arise under this Trust Deed, the Deed of Guarantee or the Bonds;
批准发行人、担保人或受托人就债券持有人对发行人或担保人的权利进行任何修改、废除、变更或妥协或安排的任何建议,无论这些权利是否根据本信托契约、担保契约或债券产生;

to sanction the exchange or substitution for the Bonds of, or the conversion of the Bonds into, shares, bonds or other obligations or securities of the Issuer, the Guarantor or any other entity;
批准交换或替代发行人、担保人或任何其他实体的债券,或将债券转换为股份、债券或其他债务或证券;

to assent to any modification of this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Bonds proposed by the Issuer, the Guarantor or the Trustee;
同意发行人、担保人或受托人对本信托契约、代理协议、担保契约或债券的任何修改;

to authorise anyone to concur in and do anything necessary to carry out and give effect to an Extraordinary Resolution;
授权任何人同意并采取任何必要措施,以执行和实施特别决议;

to give any authority, direction or sanction required to be given by Extraordinary Resolution;
给予特别决议要求给予的任何权力、指示或制裁;

to appoint any persons (whether Bondholders or not) as a committee or committees to represent the Bondholders’ interests and to confer on them any powers or discretions which the Bondholders could themselves exercise by Extraordinary Resolution;
委任任何人(不论是否为债券持有人)为代表债券持有人利益的一个或多个委员会,并授予他们债券持有人可自行通过特别决议行使的任何权力或酌情权;

to approve a proposed new Trustee and to remove a Trustee;
批准拟议的新受托人及罢免受托人;

to approve the substitution of any entity for the Issuer or the Guarantor (or any previous substitute) as principal debtor or guarantor under the Bonds, the Deed of Guarantee, the Agency Agreement and/or this Trust Deed; and
批准根据债券、担保契约、代理协议和/或本信托契约,以发行人或担保人(或任何先前的替代者)的任何实体替代发行人或担保人作为主要债务人或担保人;和

to discharge or exonerate the Trustee from any liability in respect of any act or omission for which it may become responsible or liable under this Trust Deed, the Agency Agreement, the Deed of Guarantee or the Bonds,
解除或免除受托人对受托人根据本信托契约、代理协议、担保契约或债券可能负责或承担的任何作为或不作为的任何责任,

provided that the special quorum provisions in paragraph 10 shall apply to any Extraordinary Resolution (a “special quorum resolution”) for the purpose of sub-paragraphs 3.2 or 3.8 or for the purpose of making a modification to this Trust Deed, the Deed of Guarantee or the Bonds which would have the effect of:
但第10段中的特别法定人数规定应适用于第3.2或3.8款所指的任何特别决议(“特别法定人数决议”),或为修改本信托契约、担保契约或债券而作出的修改,其效力如下:

modifying the maturity of the Bonds or the dates on which interest is payable in respect of the Bonds; or
修改债券的到期日或债券的应付利息日期;或

reducing or cancelling the principal amount of, any premium payable on redemption of, or interest on, the Bonds; or
减少或取消债券赎回时应付的溢价或利息的本金金额;或

changing the currency of payment of the Bonds; or
更改债券的支付货币;或

modifying the provisions in this Schedule concerning the quorum required at any meeting of Bondholders or the majority required to pass an Extraordinary Resolution;
修改本附表中有关任何债券持有人会议所需法定人数或通过特别决议所需多数的条文;

modifying or releasing the Deed of Guarantee (other than as provided in Condition 12(b)); or
修改或解除担保契约(条件12(b)规定的除外);或

amending this proviso.
修改此但书。

Convening a Meeting
召开会议

The Issuer, the Guarantor or the Trustee may at any time convene a meeting. If the Trustee receives a written request to do so by Bondholders holding not less than 10 per cent. in aggregate principal amount of the Bonds for the time being outstanding and is indemnified and/or secured and/or pre-funded to its satisfaction against all costs and expenses, the Trustee shall convene a meeting. Every physical meeting shall be held at a time and place approved by the Trustee. Every virtual meeting shall be held via an electronic platform and at a time approved by the Trustee. A meeting that has been validly convened in accordance with this paragraph 4 may be cancelled by the person who convened such meeting by giving at least five business days’ notice (exclusive of the day on which the notice is given or deemed to be given and of the day of the meeting) to the Bondholders (with a copy to the Trustee where such meeting was convened by the Issuer, or the Guarantor, as the case may be, or to the Issuer or to the Guarantor where such meeting was convened by the Trustee). Any meeting cancelled in accordance with this paragraph 4 shall be deemed not to have been convened.
发行人、担保人或受托人可随时召开会议。如果受托人收到持有不少于10%的债券持有人的书面要求。受托人应召开会议,以目前未偿还的债券本金总额,并已获得弥偿和/或担保和/或预先融资,以使其对所有成本和开支感到满意。每次实体会议均应在受托人批准的时间和地点举行。每次虚拟会议均应通过电子平台在受托人批准的时间举行。根据本第4款有效召开的会议可由召集该会议的人取消,但须至少提前五个营业日(不包括发出或视为发出通知的日期和会议当天)通知债券持有人(并抄送发行人召开该会议的受托人, 或担保人(视情况而定),或发行人或由受托人召开该等会议的担保人)。根据本第4款取消的任何会议应视为未召开。

At least 21 days’ notice (exclusive of the day on which the notice is given and of the day of the meeting) shall be given to the Bondholders. A copy of the notice shall be given by the party convening the meeting to the other parties. The notice shall specify the day, time and place of meeting (or the details of the electronic platform to be used in the case of a virtual meeting) and, unless the Trustee otherwise agrees, the nature of the resolutions to be proposed and shall explain how Bondholders may appoint proxies or representatives and the details of the time limits applicable. With respect to a virtual meeting, each such notice shall set out such other and further details as are required under paragraph 26.
债券持有人应至少提前21天通知(不包括发出通知的日期和会议日期)。召开会议的一方应将通知的副本交给其他各方。通知应列明会议的日期、时间和地点(或虚拟会议时使用的电子平台的详细信息),以及(除非受托人另有同意)拟提出的决议的性质,并应解释债券持有人如何任命代理人或代表以及适用时限的细节。关于虚拟会议,每份此类通知均应列出第 26 段要求的其他和进一步的细节。

Chairperson
主席

The chairperson of a meeting shall be such person as the Trustee may nominate in writing, but if no such nomination is made or if the person nominated is not present within 15 minutes from the time fixed for the meeting, the Bondholders or agents present shall choose one of their number to be chairperson, failing which the Issuer (failing whom the Guarantor) may appoint a chairperson.
会议主席应为受托人以书面形式提名的人士,但如未提名或被提名人士在会议规定时间后15分钟内未到场,出席会议的债券持有人或代理人应从其人数中选出一人担任主席,否则发行人(担保人)可任命主席一人。

The chairperson may, but need not, be a Bondholder or agent. The chairperson of an adjourned meeting need not be the same person as the chairperson of the original meeting.
主席可以(但不一定是)债券持有人或代理人。延期会议的主席不必与原会议的主席是同一人。

Attendance
出席

The following may attend and speak at a meeting:
以下人员可以出席会议并在会议上发言:

Bondholders and agents;
债券持有人和代理人;

the chairman; and
主席;和

the Issuer, the Guarantor and the Trustee (through their respective representatives) and their respective financial and legal advisers.
发行人、担保人及受托人(透过其各自的代表)及其各自的财务及法律顾问。

No one else may attend or speak.
其他人不得出席或发言。

Quorum and Adjournment
法定人数及休会

No business (except choosing a chairperson) shall be transacted at a meeting unless a quorum is present at the commencement of business. If a quorum is not present within 15 minutes from the time initially fixed for the meeting, it shall, if convened on the requisition of Bondholders or if the Issuer, the Guarantor and the Trustee agree, be dissolved. In any other case it shall be adjourned until such date, not less than 14 nor more than 42 days later, and such time and place as the chairperson may decide. If a quorum is not present within 15 minutes from the time fixed for a meeting so adjourned, the meeting shall be dissolved.
除非在会议开始时达到法定人数,否则不得在会议上处理任何事务(选择主席除外)。如果在最初确定的会议时间后15分钟内未达到法定人数,则应根据债券持有人的要求召开会议,或者发行人、担保人和受托人同意,会议应解散。在任何其他情况下,会议应延期至主席决定的时间和地点,但不得少于14天至42天后。如在休会时间起计后15分钟内未达到法定人数,会议即告解散。

Two or more Bondholders or agents present in person or by proxy shall be a quorum:
两名或两名以上亲自或委托代理人出席的债券持有人或代理人应为法定人数:

in the cases marked “No minimum proportion” in the table below, whatever the proportion of the Bonds which they represent; and
在下表中标有“无最低比例”的情况下,无论它们所代表的债券比例如何;和

in any other case, only if they represent the proportion of the Bonds shown by the table below.
在任何其他情况下,仅当它们代表下表所示的债券比例时。

Column 1
第 1 列

Column 2
第 2 列

Column 3
第 3 列

Purpose of meeting
会议目的

Any meeting except one referred to in column 3
除第3栏提及的会议外的任何会议

Meeting previously adjourned through want of a quorum
先前因法定人数不足而休会的会议

Required proportion
所需比例

Required proportion
所需比例

To pass a special quorum resolution
通过特殊仲裁决议

Not less than 75 per cent.
不少于75%。

Not less than 25 per cent.
不少于25%。

To pass any other Extraordinary Resolution
通过任何其他特别决议

More than 50 per cent.
超过50%。

No minimum proportion
没有最低比例

Any other purpose
任何其他目的

Not less than 10 per cent.
不少于10%。

No minimum proportion
没有最低比例

The holder of the Global Certificate shall (unless such Global Certificate represents only one Bond) be treated as two persons for the purposes of any quorum requirements of a meeting of Bondholders.
就债券持有人会议的任何法定人数要求而言,全球证书的持有人(除非该全球证书仅代表一种债券)应被视为两人。

The chairperson may, with the consent of (and shall if directed by) a meeting, adjourn the meeting from time to time and from place to place. Only business which could have been transacted at the original meeting may be transacted at a meeting adjourned in accordance with this paragraph 12 or paragraph 9.
主席经会议同意(如经会议指示)可不时和地点休会。只有本来可以在原来的会议上处理的事务,才能在根据本第12段或第9段休会的会议上处理。

At least 10 days’ notice (exclusive of the day on which the notice is given and of the day of the adjourned meeting) of a meeting adjourned through want of a quorum shall be given in the same manner as for an original meeting and that notice shall state the quorum required at the adjourned meeting. No notice needs, however, otherwise be given of an adjourned meeting.
因缺乏法定人数而休会的会议,须以与原定次会议相同的方式发出最少10天的通知(不包括发出通知的当日及延期会议的当日),该通知须列明续会所需的法定人数。但是,休会无须另行通知。

Voting
投票

At a meeting which is held only as a physical meeting, each question submitted to a such meeting shall be decided by a show of hands unless a poll is (before, or on the declaration of the result of, the show of hands) demanded by any of the chairperson, the Issuer, the Guarantor, the Trustee or one or more persons representing not less than 2 per cent. of the aggregate principal amount of the Bonds then outstanding.
在仅以实体会议形式举行的会议上,提交该会议的每项质询均应以举手表决方式决定,除非任何主席、发行人、担保人、受托人或代表不少于2%的一人或多人要求进行投票(在宣布举手表决结果之前或宣布举手表决)。当时未偿还债券的本金总额。

Unless a poll is demanded, a declaration by the chairperson that a resolution has or has not been passed shall be conclusive evidence of the fact without proof of the number or proportion of the votes cast in favour of or against it.
除非要求进行投票,否则主席宣布某项决议已通过或未通过,应为该事实的确凿证据,而无须证明赞成或反对的票数或比例。

If a poll is demanded, it shall be taken in such manner and (subject as provided below) either at once or after such adjournment as the chairperson directs. The result of the poll shall be deemed to be the resolution of the meeting at which it was demanded as at the date it was taken. A demand for a poll shall not prevent the meeting continuing for the transaction of business other than the question on which it has been demanded.
如有人要求进行投票,应按主席指示立即或休会后进行投票。投票结果应视为投票之日要求投票的会议的决议。要求进行投票不应妨碍会议继续进行,以处理被要求投票的问题以外的事务。

A poll demanded on the election of a chairperson or on a question of adjournment shall be taken at once.
应立即就选举主席或休会问题进行表决。

On a show of hands, every person who is present in person and who produces a Bond or is a proxy has one vote. On a poll, every such person has one vote for U.S.$10,000 in principal amount of Bonds so produced or for which he is a proxy or representative. Without prejudice to the obligations of proxies, a person entitled to more than one vote need not use them all or cast them all in the same way.
在举手表决时,每个亲自出席并出示债券或代理人的人都有一票表决权。在民意调查中,每个这样的人都有一票赞成本金10,000美元的债券,或者他是其代理人或代表的债券。在不损害代理人义务的情况下,有权获得多于一票的人不必全部使用它们或以同样的方式全部投票。

In case of equality of votes, the chairperson shall both on a show of hands and on a poll have a casting vote in addition to any other votes which he may have.
在票数相等的情况下,主席在举手表决和表决时,除他可能拥有的任何其他表决权外,还应投决定性票。

At a virtual meeting, a resolution put to the vote of the meeting shall be decided on a poll in accordance with paragraph 27, and any such poll will be deemed to have been validly demanded at the time fixed for holding the meeting to which it relates.
在虚拟会议上,提交会议表决的决议应根据第 27 段以投票方式决定,任何此类投票将被视为在为举行与其相关的会议而确定的时间有效要求。

Effect and Publication of an Extraordinary Resolution
特别决议的生效和公布

An Extraordinary Resolution shall be binding on all the Bondholders, whether or not present at the meeting, and each of them shall be bound to give effect to it accordingly. The passing of such a resolution shall be conclusive evidence that the circumstances justify its being passed. The Issuer, failing whom the Guarantor, shall give notice of the passing of an Extraordinary Resolution to the Bondholders within 14 days but failure to do so shall not invalidate such resolution.
特别决议对所有债券持有人具有约束力,无论是否出席会议,并且每个债券持有人都有义务相应地实施该决议。此种决议的通过应成为确凿的证据,证明该决议的通过是有理由的。发行人(担保人)应在14日内向债券持有人发出特别决议通过的通知,但未这样做不应使该决议无效。

Minutes
纪要

Minutes shall be made of all resolutions and proceedings at every meeting and, if purporting to be signed by the chairperson of that meeting or of the next succeeding meeting, shall be conclusive evidence of the matters in them. Until the contrary is proved, every meeting for which minutes have been so made and signed shall be deemed to have been duly convened and held and all resolutions passed or proceedings transacted at it to have been duly passed and transacted.
每次会议的所有决议和议事记录均应作记录,如果声称由该次会议或下一次会议的主席签署,则应作为其中事项的确凿证据。除非有相反的证据,否则每次会议记录都应视为已正式召开和举行,所有通过的决议或处理的程序均应视为已正式通过和处理。

Written Resolutions and Electronic Consent
书面决议和电子同意书

Subject to the following sentence, a written resolution signed by the holders of not less than 90 per cent. of the aggregate principal amount of the Bonds then outstanding (a “Written Resolution”) may be contained in one document or in several documents in the same form, each signed by or on behalf of one or more of the Bondholders.
除以下句子外,由不少于90%的持有人签署的书面决议。当时未偿还的债券本金总额(“书面决议”)可载于一份文件或多份相同形式的文件中,每份文件均由一名或多名债券持有人或代表一名或多名债券持有人签署。

For so long as the Bonds are in the form of a Global Certificate registered in the name of any nominee for one or more of Euroclear, Clearstream or an Alternative Clearing System (the “relevant clearing system(s)”), then, in respect of any resolution proposed by the Issuer, the Guarantor or the Trustee:
只要债券是以任何代名人的名义注册的全球证书形式,用于Euroclear、Clearstream或替代清算系统(“相关清算系统”),那么,就发行人、担保人或受托人提出的任何决议而言:

Where the terms of the proposed resolution have been notified to the Bondholders through the relevant clearing system(s), each of the Issuer, the Guarantor and the Trustee shall be entitled to rely upon approval of such resolution proposed by the Issuer, the Guarantor or the Trustee (as the case may be) given by way of electronic consents communicated through the electronic communications systems of the relevant clearing system(s) in accordance with their operating rules and procedures by or on behalf of the holders of not less than 90 per cent. in aggregate principal amount of the Bonds then outstanding (each an “Electronic Consent”). None of the Issuer, the Guarantor or the Trustee shall be liable or responsible to anyone for such reliance; and
倘若拟议决议案的条款已通过相关结算系统通知债券持有人,则发行人、担保人及受托人均有权依赖发行人、担保人或受托人(视情况而定)根据其运作规则,以电子同意书方式通过相关结算系统的电子通讯系统发出的批准,以及由不少于90%的持有人或代表持有人办理的程序。当时未偿还的债券本金总额(每份债券均为“电子同意书”)。发行人、担保人或受托人均不对任何人承担任何责任或义务;和

where Electronic Consent is not being sought, for the purpose of determining whether a Written Resolution has been validly passed, each of the Issuer, the Guarantor and the Trustee shall be entitled to rely on consent or instructions given in writing directly to the Issuer, the Guarantor and/or the Trustee (as the case may be) (a) by accountholders in the relevant clearing system(s) with entitlements to such Global Certificate and/or (b) where the accountholders hold any such entitlement on behalf of another person, on written consent from or written instruction by the person identified by such accountholders as the person for whom such entitlement is held. For the purpose of establishing the entitlement to give any such consent or instruction, the Issuer, the Guarantor and the Trustee shall be entitled to rely on any certificate or other document issued by, in the case of (a) above, the relevant clearing system(s) and, in the case of (b) above, the relevant clearing system(s) and the person identified by the relevant clearing system(s) for the purposes of (b) above. Any resolution passed in such manner shall be binding on all Bondholders, even if the relevant consent or instruction proves to be defective. Any such certificate or other document shall, in the absence of manifest error, be conclusive and binding for all purposes. Any such certificate or other document may comprise any form of statement or print out of electronic records provided by the relevant clearing system(s) (including Euroclear’s EUCLID or Clearstream’s CreationOnline system) in accordance with its usual procedures and in which the accountholder of a particular principal or nominal amount of the Bonds is clearly identified together with the amount of such holding. None of the Issuer, the Guarantor or the Trustee shall be liable to the Bondholders or any person by reason of having accepted as valid or not having rejected any certificate or other document to such effect purporting to be issued by any such person and subsequently found to be forged or not authentic.
在未寻求电子同意的情况下,为确定书面决议是否有效通过,发行人、担保人和受托人均有权依赖直接向发行人、担保人和/或受托人(视情况而定)直接发出的书面同意或指示 (a) 相关清算系统中有权获得此类全球证书的账户持有人和/或 (b)账户持有人代表他人持有任何此类权利,并得到该账户持有人确定为持有此类权利的人的书面同意或书面指示。为确立给予任何该等同意或指示的权利,发行人、担保人及受托人应有权依赖(如属上述(a)项)及(如属上述(b)项)相关结算系统及相关结算系统就上述(b)项之目的而指认的人士发出的任何证书或其他文件。以这种方式通过的任何决议均对所有债券持有人具有约束力,即使相关同意或指示被证明是有缺陷的。任何此类证书或其他文件,如无明显错误,应为决定性文件,并对所有目的具有约束力。任何此类证书或其他文件可包括相关清算系统(包括Euroclear的EUCLID或Clearstream的CreationOnline系统)根据其通常程序提供的任何形式的声明或电子记录打印件,其中明确标识了特定债券本金或面值金额的账户持有人以及此类持有金额。 发行人、担保人或受托人均不得因已接受或未拒绝任何声称由任何该等人士签发并随后被发现为伪造或不真实的证书或其他文件而对债券持有人或任何人承担责任。

A Written Resolution and/or Electronic Consent shall take effect as an Extraordinary Resolution. A Written Resolution and/or Electronic Consent will be binding on all Bondholders, whether or not they participated in such Written Resolution and/or Electronic Consent.
书面决议和/或电子同意应作为特别决议生效。书面决议和/或电子同意将对所有债券持有人具有约束力,无论他们是否参与此类书面决议和/或电子同意。

Trustee’s Power to Prescribe Regulations
受托人制定法规的权力

Subject to all other provisions in this Trust Deed, the Trustee may, without the consent of the Bondholders or any other person, prescribe or approve such further regulations regarding the holding of meetings and attendance and voting at them as it in its sole and absolute discretion determines or as proposed by the Issuer or the Guarantor including (without limitation) such requirements as the Trustee thinks necessary or appropriate to satisfy itself that the persons who purport to make any requisition in accordance with this Trust Deed are entitled to do so and to satisfy itself that persons who purport to attend or vote at a meeting or to sign a Written Resolution or to provide an Electronic Consent are entitled to do so.
在不违反本信托契约的所有其他条款的前提下,受托人可在未经债券持有人或任何其他人士同意的情况下,规定或批准其自行决定或由发行人或担保人提议的有关举行会议、出席会议和投票的进一步规定,包括(但不限于)受托人认为必要或适当的要求,以使自己确信这些人声称根据本信托契约提出任何请求的人有权这样做,并确信声称出席会议或投票或签署书面决议或提供电子同意的人有权这样做。

Additional Provisions Applicable to Virtual Meetings
适用于虚拟会议的附加规定

The Issuer, the Guarantor (with the Trustee’s prior approval) or the Trustee in its sole and absolute discretion may decide to hold a virtual meeting and, in such case, shall provide details of the means for Bondholders or their proxies or representatives to attend and participate in the meeting, including the electronic platform to be used.
发行人、担保人(经受托人事先批准)或受托人可全权酌情决定举行虚拟会议,并应提供债券持有人或其代理人或代表出席和参与会议的方式的详细信息,包括拟使用的电子平台。

The Issuer, the Guarantor or the chairperson (in each case, with the Trustee’s prior approval) or the Trustee in its sole and absolute discretion may make any arrangement and impose any requirement or restriction as is necessary to ensure the identification of those entitled to take part in the virtual meeting and the security of the electronic platform. All documentation that is required to be passed between persons present at the virtual meeting (in whatever capacity) shall be communicated by email.
发行人、担保人或主席(在每种情况下均须事先获得受托人批准)或受托人可自行决定作出任何必要的安排并施加任何要求或限制,以确保有权参加虚拟会议的人士的身份识别和电子平台的安全。所有需要在出席虚拟会议的人员(以任何身份)之间传递的文件均应通过电子邮件传达。

All resolutions put to a virtual meeting shall be voted on by a poll in accordance with paragraphs 15 to 19 above (inclusive) and such poll votes may be cast by such means as the Issuer or the Guarantor (with the Trustee’s prior approval) or the Trustee in its sole and absolute discretion considers appropriate for the purposes of the virtual meeting.
所有提交虚拟会议的决议案均须根据上文第15至19段(包括首尾两日)以投票方式进行表决,而该等投票表决可由发行人或担保人(经受托人事先批准)或受托人全权酌情决定认为适合虚拟会议的方式进行。

Persons seeking to attend or participate in a virtual meeting shall be responsible for ensuring that they have access to the facilities (including, without limitation, IT systems, equipment and connectivity) which are necessary to enable them to do so.
寻求出席或参与虚拟会议的人员应负责确保他们能够使用必要的设施(包括但不限于 IT 系统、设备和连接),以便他们这样做。

In determining whether persons are attending or participating in a virtual meeting, it is immaterial whether any two or more members attending it are in the same physical location as each other or how they are able to communicate with each other.
在确定人员是否出席或参与虚拟会议时,参加会议的任何两名或两名以上成员是否彼此位于同一物理位置或他们如何能够相互通信都无关紧要。

Two or more persons who are not in the same physical location as each other attend a virtual meeting if their circumstances are such that if they have (or were to have) rights to speak or vote at that meeting, they are (or would be) able to exercise them.
两个或两个以上不在同一实际地点的人参加虚拟会议,如果他们的情况是,如果他们拥有(或曾经拥有)在该会议上发言或投票的权利,他们能够(或将)能够行使这些权利。

The Issuer or the Guarantor (with the Trustee’s prior approval) or the Trustee in its sole and absolute discretion may make whatever arrangements they consider appropriate to enable those attending a virtual meeting to exercise their rights to speak or vote at it.
发行人或担保人(经受托人事先批准)或受托人可自行酌情决定作出其认为适当的任何安排,使出席虚拟会议的人士能够行使其发言权或投票权。

A person is able to exercise the right to speak at a virtual meeting when that person is in a position to communicate to all those attending the meeting, during the meeting, as contemplated by the relevant provisions of this Schedule.
如果某人能够按照本附表的有关规定在会议期间与所有出席会议的人进行沟通,则该人能够在虚拟会议上行使发言权。

A person is able to exercise the right to vote at a virtual meeting when:
在以下情况下,一个人可以在虚拟会议上行使投票权:

that person is able to vote, during the meeting, on resolutions put to the vote at the meeting; and
该人能够在会议期间对会议付诸表决的决议进行表决;和

that person’s vote can be taken into account in determining whether or not such resolutions are passed at the same time as the votes of all the other persons attending the meeting.
在决定这些决议是否与出席会议的所有其他人的投票同时通过时,可以考虑该人的投票。

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FORM OF CERTIFICATE (TRANSLATION OF FINANCIAL STATEMENTS)
证书形式(财务报表翻译)

CMB Wing Lung (Trustee) Limited (the “Trustee”)
招商永隆(受托人)有限公司(「受托人」)

6/F, CMB Wing Lung Bank Building
招商永隆银行大厦6楼

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

Attention: Corporate Trust and Agency
注意:企业信托和代理

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

[DATE]
[日期]

Dear Sirs
尊敬的先生们

Huzhou Nanxun Tourism Investment Development Group Co., Ltd.
湖州南浔旅游投资发展集团有限公司 (Huzhou Nanxun Tourism Investment Development Group Co., Ltd.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027 (the “Bonds”)
75,000,000美元 6.5%。2027年到期的保证债券(「债券」)

unconditionally and irrevocably guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

In accordance with Clause 7.4 of the trust deed dated 5 July 2024 (the “Trust Deed”) made between (1) Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司) (the “Issuer”), (2) Huzhou Nanxun Cultural Tourism Development Group Co., Ltd. (湖州南潯文旅發展集團有限公司) (the “Guarantor”) and (3) the Trustee, we hereby certify that the English translations of the financial statements for [RELEVANT PERIOD TO BE SPECIFIED] in Chinese furnished pursuant to Clause 7.4 of the Trust Deed are complete and accurate.
根据(1)湖州南潯旅投发展展集团有限公司(「发行人」)、(2)湖州南潯文旅发展集团有限公司(「担保人」)及(3)受托人于2024年7月5日订立的信托契约(「信托契约」)第7.4条,我们特此证明,根据信托契约第7.4条提供的[相关期间待指定]财务报表的中文译本完整而准确。

42

Yours faithfully
真诚的

For and on behalf of
代表和代表

[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南潯旅遊投資發展集團有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南潯文旅發展集團有限公司)]
[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南浔旅游投资发展集团有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南浔文旅发展集团有限公司)]

By:
由:

Name:
名字:

Title:
标题:


FORM OF COMPLIANCE CERTIFICATE
合格证明书形式

CMB Wing Lung (Trustee) Limited (the “Trustee”)
招商永隆(受托人)有限公司(「受托人」)

6/F, CMB Wing Lung Bank Building
招商永隆银行大厦6楼

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

Attention: Corporate Trust and Agency
注意:企业信托和代理

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

[DATE]
[日期]

Dear Sirs
尊敬的先生们

Huzhou Nanxun Tourism Investment Development Group Co., Ltd.
湖州南浔旅游投资发展集团有限公司 (Huzhou Nanxun Tourism Investment Development Group Co., Ltd.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027 (the “Bonds”)
75,000,000美元 6.5%。2027年到期的保证债券(「债券」)

unconditionally and irrevocably guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

This certificate is delivered to you in accordance with Clause 7.5 of the trust deed dated 5 July 2024 (the “Trust Deed”) made between (1) Huzhou Nanxun Tourism Investment Development Group Co., Ltd. (湖州南潯旅遊投資發展集團有限公司) (the “Issuer”), (2) Huzhou Nanxun Cultural Tourism Development Group Co., Ltd. (湖州南潯文旅發展集團有限公司) (the “Guarantor”) and (3) the Trustee. All words and expressions defined in the Trust Deed shall (save as otherwise provided herein or unless the context otherwise requires) have the same meanings herein.
本证书是根据(1)湖州南潯旅投发展发展集团有限公司(「发行人」)、(2)湖州南潯文旅發展集团有限公司(「担保人」)及(3)受托人订立的日期为2024年7月5日的信托契约(「信托契约」)第7.5条交付给阁下的。信托契约中定义的所有词语和表达方式(除非本协议另有规定或除非上下文另有要求)应具有相同的含义。

We hereby certify that having made all reasonable enquiries, to the best of our knowledge, information and belief, as at [●]1:
我们特此证明,我们已尽我们所知、信息和信念进行了所有合理的查询,如 [●] 1

[no Event of Default, Potential Event of Default or Relevant Event had occurred since [THE CERTIFICATION DATE OF THE LAST SUCH CERTIFICATE / DATE OF THE TRUST DEED]] [other than [DETAILS OF ANY EVENT OF DEFAULT / POTENTIAL EVENT OF DEFAULT]]; and
[自[最后一份此类证书的认证日期/信托契约的日期]以来,没有发生任何违约事件、潜在违约事件或相关事件][除[任何违约事件/潜在违约事件的详情]外];和

[we have complied with all of our covenants and obligations under the Trust Deed, the Agency Agreement, the Deed of Guarantee and the Bonds] [other than [DETAILS OF ANY NON-COMPLIANCE]].
[我们已遵守信托契约、代理协议、担保契约和债券项下的所有契约和义务][[任何不遵守情况的细节]除外]。

  1. Specify a date not more than five days before the date of delivery of the certificate.
    指定证书交付日期前不超过五天的日期。

54

Yours faithfully
真诚的

For and on behalf of
代表和代表

[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南潯旅遊投資發展集團有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南潯文旅發展集團有限公司)]
[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南浔旅游投资发展集团有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南浔文旅发展集团有限公司)]

By:
由:

Name:
名字:

Title:
标题:


FORM OF CERTIFICATE CONFIRMING THE COMPLETION OF
确认完成以下任务的证明书表格

THE NDRC POST-ISSUE FILING AND THE SAFE REGISTRATION
发改委发后备案及外管局登记

To:
自:

CMB Wing Lung (Trustee) Limited (the “Trustee”)
招商永隆(受托人)有限公司(「受托人」)

6/F, CMB Wing Lung Bank Building
招商永隆银行大厦6楼

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

Attention: Corporate Trust and Agency
注意:企业信托和代理

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

[DATE]
[日期]

Dear Sirs
尊敬的先生们

Huzhou Nanxun Tourism Investment Development Group Co., Ltd.
湖州南浔旅游投资发展集团有限公司 (Huzhou Nanxun Tourism Investment Development Group Co., Ltd.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

U.S.$75,000,000 7.5 per cent. Guaranteed Bonds due 2027 (the “Bonds”)
75,000,000美元 7.5%。2027年到期的保证债券(「债券」)

unconditionally and irrevocably guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

Pursuant to Condition 4(d) of the terms and conditions of the Bonds (the “Conditions”) and Clause 7.15 of the trust deed dated 5 July 2024 (the “Trust Deed”) relating to the Bonds, we hereby certify that (A) the [NDRC Post-issue Filing]/[SAFE Registration], as described in the Conditions 4(b) and 4(c) of the Conditions in respect of the Bonds and Clause 7.15 of the Trust Deed has been completed.
根据债券条款和条件第4(d)条(“条件”)和日期为2024年7月5日的信托契约(“信托契约”)第7.15条,我们特此证明(A)债券条件第4(b)条和第4(c)条所述的[发改委发行后备案]/[SAFE注册]以及信托契约第7.15条所述的[发改委发行后备案]/[SAFE注册]已经完成。

We hereby certify the attached hereto as Annex A is a true and complete copy of the registration record from SAFE and the particulars of registration. [We hereby confirm that no document has been issued by the NDRC in relation to the NDRC Post-issue Filing.] / [We hereby certify the attached hereto as Annex B is a true and complete copy of the documents evidencing the NDRC Post-issue Filing and setting out the particulars of filing.]
我们特此证明附件A是外管局注册记录和注册详情的真实和完整副本。[我们在此确认,国家发改委尚未就发改委发行后备案出具任何文件。[我们特此证明,附件B是证明国家发改委发后备案文件并列明备案内容的文件的真实完整副本。

We hereby request the Principal Paying Agent to circulate to the Bondholders notice of such submission in the form attached hereto.
我们特此要求主要付款代理人以本协议所附的形式向债券持有人分发有关提交通知。

All words and expressions defined in the Trust Deed shall (save as otherwise provided herein or unless the context otherwise requires) have the same meanings herein.
信托契约中定义的所有词语和表达方式(除非本协议另有规定或除非上下文另有要求)应具有相同的含义。

38

Yours faithfully
真诚的

For and on behalf of
代表和代表

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.
湖州南讯旅游投资发展集团有限公司 (HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

By:
由:

Name:
名字:

Title:
标题:

58

Appendix
附录

Notice to Bondholders
债券持有人须知

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

To: BONDHOLDERS
致:债券持有人

Dear Sirs
尊敬的先生们

Huzhou Nanxun Tourism Investment Development Group Co., Ltd.
湖州南浔旅游投资发展集团有限公司 (Huzhou Nanxun Tourism Investment Development Group Co., Ltd.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027 (the “Bonds”)
75,000,000美元 6.5%。2027年到期的保证债券(「债券」)

unconditionally and irrevocably guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

NOTICE IS HEREBY GIVEN TO THE BONDHOLDERS that, Pursuant to Clause 7.15 of the trust deed (the “Trust Deed”) dated 5 July 2024 among the Issuer, the Guarantor and CMB Wing Lung (Trustee) Limited as Trustee and Condition 4(d) of the terms and conditions of the Bonds (the “Conditions”), we hereby confirm that we have completed the NDRC Post-issue Filing and the SAFE Registration (both as defined in the Conditions).
特此通知债券持有人,根据发行人、担保人及招商永隆(受托人)有限公司作为受托人于2024年7月5日签署的信托契约(「信托契约」)第7.15条及债券条款及细则第4(d)条(「条件」),我们特此确认已完成发改委发行后备案及外管局登记(定义见本条件)。

Capitalised terms used but not defined herein shall have the meanings given to such terms in the Trust Deed.
此处使用但未定义的大写术语应具有信托契约中赋予此类术语的含义。

Yours faithfully
真诚的

For and on behalf of
代表和代表

HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.
湖州南讯旅游投资发展集团有限公司 (HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

By:
由:

Name:
名字:

Title:
标题:

58

58


FORM OF PRINCIPAL SUBSIDIARIES CERTIFICATE
主要子公司证书表格

CMB Wing Lung (Trustee) Limited (the “Trustee”)
招商永隆(受托人)有限公司(「受托人」)

6/F, CMB Wing Lung Bank Building
招商永隆银行大厦6楼

45 Des Voeux Road Central
德辅道中45号

Hong Kong
香港

Attention: Corporate Trust and Agency
注意:企业信托和代理

[DATE]
[日期]

ISIN: XS2836461496
ISIN:XS2836461496

Common Code: 283646149
通用代码:283646149

Dear Sirs
尊敬的先生们

Huzhou Nanxun Tourism Investment Development Group Co., Ltd.
湖州南浔旅游投资发展集团有限公司 (Huzhou Nanxun Tourism Investment Development Group Co., Ltd.)

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

U.S.$75,000,000 6.5 per cent. Guaranteed Bonds due 2027 (the “Bonds”)
75,000,000美元 6.5%。2027年到期的保证债券(「债券」)

unconditionally and irrevocably guaranteed by
无条件且不可撤销地保证

Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.
湖州南讯文旅发展集团有限公司 (Huzhou Nanxun Cultural Tourism Development Group Co., Ltd.)

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

Pursuant to Clause 7.18 of the trust deed dated 5 July 2024 (the “Trust Deed”) relating to the Bonds and as contemplated in Condition 9 of the Conditions, we hereby confirm that the following Subsidiaries were Principal Subsidiaries (as defined in Condition 9 of the Conditions) as of [●]:
根据 2024 年 7 月 5 日与债券有关的信托契约(“信托契约”)第 7.18 条以及条件第 9 条的规定,我们特此确认以下子公司自 [●] 起为主要子公司(定义见条件第 9 条):

[insert names and jurisdictions of incorporation of relevant Subsidiaries].
[插入相关子公司的名称和注册法域]。

All words and expressions defined in the Trust Deed shall (save as otherwise provided herein or unless the context otherwise requires) have the same meanings herein.
信托契约中定义的所有词语和表达方式(除非本协议另有规定或除非上下文另有要求)应具有相同的含义。

58

Yours faithfully
真诚的

For and on behalf of
代表和代表

[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南潯旅遊投資發展集團有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南潯文旅發展集團有限公司)]
[HUZHOU NANXUN TOURISM INVESTMENT DEVELOPMENT GROUP CO., LTD. (湖州南浔旅游投资发展集团有限公司) / HUZHOU NANXUN CULTURAL TOURISM DEVELOPMENT GROUP CO., LTD. (湖州南浔文旅发展集团有限公司)]

By:
由:

Name:
名字:

Title:
标题:

38

This Trust Deed is delivered on the date stated at the beginning.
该信托契约在开头所述的日期交付。

EXECUTED and DELIVERED
执行和交付

as a deed by
作为契约

_____________________________

for and on behalf of
代表和代表

HUZHOU NANXUN TOURISM
湖州南浔旅游

INVESTMENT DEVELOPMENT
投资发展

GROUP CO., LTD
集团股份有限公司

(湖州南潯旅遊投資發展集團有限公司)
(湖州南浔旅游投资发展集团有限公司)

)

)

)

)

)

)

)

)

)

)

)

)

In the presence of:
在场的情况下:

Witness’s signature:
证人签名:

Name:
名字:

Address:
地址:

Signature Page – Trust Deed
签名页 – 信托契约

EXECUTED and DELIVERED
执行和交付

as a deed by
作为契约

_____________________________

for and on behalf of
代表和代表

HUZHOU NANXUN CULTURAL
湖州南讯文化

TOURISM DEVELOPMENT
旅游发展

GROUP CO., LTD.
集团有限公司

(湖州南潯文旅發展集團有限公司)
(湖州南浔文旅发展集团有限公司)

)

)

)

)

)

)

)

)

)

)

)

)

In the presence of:
在场的情况下:

Witness’s signature:
证人签名: