Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd (“the Company”) and Shenzhen Longgang Branch, Bank of China (the “Creditor”) Dated March 8th, 2010
Exhibit 99.5
Comprehensive Credit Facility Agreement of Maximum Amount (“Credit
Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd
(“the Company”) and Shenzhen Longgang Branch, Bank of China (the
“Creditor”)
Dated March 8th, 2010
Main articles:
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Contract number: 2010 Zhenzhongyin Gang Exiezi 000119;
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Maximum amount of credit facilities to be provided: XXX 000 xxxxxxx;
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Xxxx: from March 4, 2010 to March 4, 2011.
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Purpose of the loan is to provide working capital for the Company;
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In the event of occurrence of any of the following during the term of loan, the Creditor is entitled to adjust the credit amount or even terminate the credit:
Delay in repayment of interest for the loan;
Embezzling loan (i.e. using loan proceeds for purposes other than what is agreed in the contract without the consent of the Creditor);
Making untrue declaration or breach of promise;
Breach of other agreements
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Remedies in the event of breach of contract include adjustment of the credit amount, suspension of credit, imposition of punitive interest and overdue interest, an increase of guarantee deposit and the call back of loan principal and interest before maturity.
Headlines of the articles omitted
- Procedure on using the comprehensive credit facility
- Guarantee
- Declaration and promise of the Company
- Rights reversed
- Modification, amendment, termination and invalidation of the Contract
- Disputation settlement
- Fee
- Attachment
- Other agreements
- Validity
