Contract
Summary of Mortgage Contract
of Maximum Amount ( the “Contract”) Entered into by and between Shenzhen BAK
Battery, Co., Ltd (the “Mortgager”) and Longgang Branch, Shenzhen Development
Bank Co., Ltd (the “Creditor”) on December 3rd, 2008
Main
contents:
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Contract number: Shenfa Longgang Edizi 20081203001-2;
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In
order to guarantee the indebtedness of Shenzhen BAK Battery Co., Ltd.
(the “Obligor”) towards the Creditor under the Comprehensive Credit
Facility Agreement of Maximum Amount (reference no.: Shenfa Longgang
Zongzi 20081203001) from December 8th,
2008 to December 8th,
2009, the Mortgager agrees to pledge its property to the
Creditor.
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Scope of Guaranty: The
guaranty shall cover all of the loan principal, interest, penalty
interest, breach of contract compensation, damages, undertaking fee and
all the expenses such as litigation cost, lawyer’s fee, notification cost
and public notice cost etc. which is incurred to the Creditor in realizing
its creditor’s right.
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Collaterals: The
Mortgager agrees to pledge its finished lithium-ion cells which
valued RMB 150 million to the
Creditor.
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Headlines of the articles
omitted:
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Termination
and explanation
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Payment
on demand
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Undertakings
of the Mortgager
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Validity
of the Creditor’s Right
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Occupancy
of Collaterals
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Insurance
of Collaterals
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Mortgage
Registration
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Realizing
of Creditor’s Right
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Declaration
and guaranty of the Mortgager
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Amendment
of the Contract
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Effectiveness
and Disputation settlement
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