Contract
Summary of Loan Agreement
Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and
Shenzhen Eastern Branch, Agricultural Bank of China (“the Creditor”) dated May
26, 2009
Main
contents
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Contract
number: 81101200900001026;
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Loan
principal:
HKD 2.499609 million;
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Loan
term: from May 26, 2009 to May 26,
2010;
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Interest
rate: fixed at 0.29643%;
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n
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Penalty
interest rate for delayed repayment: 0.29643% plus 30%
*0.29643%;
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Penalty
interest rate for embezzlement of loan proceeds: 0.29643% plus 50%
*0.29643%;
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Purpose
of the loan is to provide import payments of the
Company;
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Advanced
repayment of loan needs to be approved by the
Creditor;
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Breach
of contract penalties: correct the breach of contract in time limit;
suspension of loan unprovided; release loan agreement, demand
prepayment of loan principal and interest before maturity; imposition
of punitive interest incurred due to delayed loan; imposition of punitive
interest for embezzlement of loan; imposition of plural interest for
unpaid interest; withdraw from any accounts of the Company the loan
principal, interest and other fees; compensation for the Creditor’s
expenses incurred due to demanding the loan principal and interest in case
of litigation, etc.
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Headlines
of the articles omitted:
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Loan
arrangement
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Interest
clearing of the loan
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Payment
of the loan
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Interest
penalty of loan
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Rights
and obligation of the Company
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Rights
and obligations of the Creditor
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Guarantee
of the loan agreement
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Disputation
settlement
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Supplemental
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Validity
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Text
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Notification
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