Letter of Undertaking
Exhibit
10.4 (a)
Date:
To:
DBS
Bank (China) Limited Shenzhen Branch
Dear
Sirs,
Where
DBS
Bank (China) Limited Shenzhen Branch (including its successors and assigns,
hereinafter referred to as the “Bank”) has granted or will grant a bank credit
line to Shenzhen Highpower Technology Company Limited. (the “Borrower”), the
signatories, as covenanters, hereby undertake: So long as we are permitted
under
PRC laws and regulations to issue a guarantee to the Bank, we will, within
14
days upon request by your Bank, undertake a security obligation for the
Borrower, and will enter into a guarantee contract, in the standard form of
your
Bank, for our obligations to guarantee all the outstanding debts of the
Borrower, whether such debts are payments, obligations or liabilities already
existing or contingent, now or hereafter, under the Letter of Credit Line No.
P/SHNY/00823/07 (including any subsequent supplement, amendment or replacement
made thereto).
This
Letter of Undertaking is governed and interpreted in accordance with the laws
of
the People’s Republic of China. We covenanters irrevocably submit to the
non-exclusive jurisdiction of the Chinese courts.
Regards.
| /s/ Pan Dangyu (signature) | /s/ Xx Xxxxxxxx (signature) | ||
|
Undertaken by: Pan Dangyu
ID
Card No.:
|
Undertaken by: Xx Xxxxxxxx
ID Card No.:
|
| /s/ Xx Xxxxxx (signature) | |||
|
Undertaken
by: Xx Xxxxxx XX
Card No.: |
|
