Contract
Comprehensive
Credit Facility Agreement of Maximum Amount Entered into and by Shenzhen BAK
Battery Co., Ltd (the “Company”) and Shenzhen Hi-tech Industrial Park Branch,
Industrial Bank Co., Ltd (the “Creditor”) dated March
25th,
2008
Main
contents:
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Contract
number: xingyinshen
gaoxinqu shouxinzi 2008 001;
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Maximum
amount for credit facilities to be provided: RMB62.5 million, which
can be
decomposed into the following one or several credit facilities for
use;
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1.
short-term loans of XXX 00 million;
2.
bank
acceptance of commercial
draft of RMB 62.5 million;
3.
letter
of credit of XXX 00 xxxxxxx
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Xxxx:
from March 25th,
2008 to March 25th,
2009;
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Adjustment
of credit can be made by Industrial Bank under the 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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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; or occurrence of delay in repaying the
loan;
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n
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Occurrence
of great changes in market;
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n
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Occurrence
of other situations that the Creditor thinks adjustment of credit
facility
is necessary.
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Breach
of contract: providing false information for hiding the actual condition
of the Company; the Company’s credit rate deteriorates, and its ability of
repayment is obviously weakened; breach of the obligations agreed
in the
sub-contract under this contract; breach of other obligations agreed
in
the contract;
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Breach
of contract penalty: suspension or reduction of credit facilities,
till
cancellation of all approved credit facilities; declaration of all
or part
of the credit facilities becoming mature in advance to its original
expiry
date; require the Company to compensate for all the
loss;
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Headlines
of the articles omitted
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Definition
and explanation
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The
guaranty of the loan under this
Agreement
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Other
rights and obligation
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Expenses
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Validity
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Notification
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Effectiveness
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Text
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Supplemental
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