Contract
Summary of Loan Agreement
Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and
Shenzhen Eastern Branch,
Agricultural Bank of China (“the Creditor”) dated December 18th, 2008.
Main
contents
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Contract
number: 81101200800001933;
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Loan
principal:
RMB 100 million;
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Loan
term: from December 18th,
2008 to June 15th,
2009;
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Floating
interest rate: annually 5.04%, rate adjustment in a 3-month
cycle;
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Interest
accrued and settled per month, interest settlement day is the 20th day
of each month;
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Penalty
interest rate for delayed repayment: 5.04% plus 50%
*5.04%;
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Penalty
interest rate for embezzlement of loan proceeds: 5.04%
*1;
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Purpose
of the loan is to provide working capital for purchasing raw material of
the Company;
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Advanced
repayment of loan needs to be approved by the
Creditor;
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Breach
of contract penalties: correct the breach of contract in time limit;
suspension of loan unprovided; release loan agreement, demand
prepayment of loan principal and interest before maturity; imposition
of punitive interest incurred due to delayed loan; imposition of punitive
interest for embezzlement of loan; imposition of plural interest for
unpaid interest; withdraw from any accounts of the Company the loan
principal, interest and other fees; compensation for the Creditor’s
expenses incurred due to demanding the loan principal and interest in case
of litigation; publicize the breach of contract,
etc.
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Supplemental: This
Loan Agreement is in compliance with the Comprehensive Credit Facility
Agreement of Maximum Amount
(No.81001200813170001).
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Headlines
of the articles omitted:
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Loan
arrangement
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Interest
clearing of the loan
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Payment
of the loan
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Interest
penalty of loan
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Guarantee
of the loan agreement
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Rights
and obligation of the Company
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Rights
and obligations of the Creditor
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Disputation
settlement
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Validity
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Text
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Notification
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