Contract
Comprehensive
Credit Facility Agreement Of Maximum Amount Entered into Between Shenzhen BAK
Battery Co., Ltd (“the Company”) and Shenzhen Eastern Branch, Agricultural Bank
of China (“Agricultural Bank”)
Summary
of the main articles:
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Contract
number: No.81001200713170001;
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Maximum
amount for credit facilities to be provided: XXX 000 xxxxxxx, xxxxxxxxx
XXX 600 million one-year term credit facilities and RMB 200 million
five-year term credit facilities;
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Term:
from June 8, 2007 to May 23, 2008, 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;
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Interest
rate of loan shall be subject to each loan agreement/contract to
be
signed;
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Adjustment
of credit can be made by Agricultural Bank under the any of the
following:
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The
Company suffers severe operational risk or its financial situation
severely deteriorates;
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The
Company is involved in any material litigation or arbitration, or
in
material breach of any other
contract;
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Guarantor’s
payment ability is obviously weakened or value of pledged collaterals
decreases obviously;
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Occurrence
of other instances which make Agricultural Bank think adjustment
of credit
facility is necessary.
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Breach
of contract penalty: adjustment of credit, cancellation of unused
credit,
imposition of punitive interest, demand prepayment of loan and other
measures;
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Special
terms:
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Should
there be any discrepancy between this credit facility agreement and
any
loan agreement to be signed under this credit facility agreement,
the loan
agreement shall prevail.
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This
credit facility agreement is guarantied by the Guaranty Contract
of
Maximum Amount (reference no. 81905200700000125).
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Summary
of the articles omitted
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Definition
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Credit
types used for the line of credit
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Use
of the line of credit
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The
guarantee of the loan under this
Agreement
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Adjustment
of the line of credit
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Dispute
settlement
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Miscellaneous
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Validity
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Notes
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