Ø Contract number: 81001200813170001;
Comprehensive Credit
Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into
by and between Shenzhen BAK Battery Co., Ltd (the “Company”) and Shenzhen
Eastern Branch, Agricultural Bank of China (the “Creditor”) on November
27th, 2008
Main
contents:
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Contract
number: 81001200813170001;
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Maximum
amount of credit facilities to be provided: RMB580 million, including 400
million one-year term credit facilities and RMB 180 million five-year term
credit facilities;
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Term:
from Nov. 27th,
2008 to Nov. 27th,
2009, except as to funds borrowed under a loan agreement dated November
23, 2006, which may be drawn at any time within five years of the
effective date of the loan agreement, and the renewal of long-term loans
need to get prior approval from the
Creditor;
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Adjustment
of credit, suspension of credit facilities and cancellation of all
approved credit facilities can be made by the Creditor under any of the
followings:
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n
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The
Company suffers severe operational risk or
difficulties;
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n
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Occurrence
of great changes in the Company’s operational system (including dividing,
merging, closing etc.)
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n
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The
Company’s payment ability is obviously weakened, the risk of repayment
increased;
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n
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Occurrence
of great changes in market, or occurrence of great adjustment for monetary
policy;
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The
Company’s credit rate deteriorates;
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The
Company fails to fulfill its obligations under this Credit Facility
Agreement or any loan agreement entered into under this Credit Facility
Agreement.
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Breach
of contract penalties: adjust the credit facility, suspension of the
credit facility, cancel the unused credit
facility.
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Supplemental:
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The
Company undertakes to maintain a percentage of the volume of certain
activities with the Creditor compared to the volume of equivalent
activities with all financial institutions combined that is at least equal
to the percentage of its indebtedness to the Creditor compared to its
indebtedness to all financial institutions combined. The
“activities” referred to in the preceding sentence include the volume of
transactional payments drawn from applicable accounts and the level of
foreign currencies deposited in accounts at applicable financial
institutions. The Company also undertakes not to issue any dividends
without the written consent of the Creditor prior to the expiration of all
loans under the Credit Facility
Agreement.
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n
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In
the event the Company breaches the above undertaking, or the guarantor(s),
who undertake(s) to guarantee the Company’s indebtedness to the Creditor
under this Credit Facility Agreement, breaches any of its obligations
under the Guaranty Contract of Maximum Amount (No.81905200800000302) and
the Mortgage Contract of Maximum Amount (No.81906200800002148), the
Creditor is entitled to claim rights in accordance with the clause of
breach of contract penalties in this Credit Facility Agreement, and is
entitled to declare all the loan agreements under this Credit Facility
Agreement become mature in advance to
expiry.
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Headlines
of the articles omitted
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The
rights and obligations of the
Company
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The
rights and obligations of the
Creditor
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Disputation
settlement
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Validity
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Effectiveness
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Notification
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