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 December 2
nd,
2008.
Main
contents
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Contract
number: 00000000000000000;
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Loan
principal:
RMB 150 million;
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Loan
term: from December 2nd,
2008 to December 1st,
2009;
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Floating
interest rate: annually 5.58%, rate adjustment in a 3-month
cycle;
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Interest
accrued and settled per month, interest settlement day is the 20th day
of each month;
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Penalty
interest rate for delayed repayment: 5.58% plus 50%
*5.58%;
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Penalty
interest rate for embezzlement of loan proceeds: 5.58%
*1;
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Purpose
of the loan is to provide working capital for purchasing raw material 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; publicize the breach of
contract, etc.
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Supplemental: This
Loan Agreement is in compliance with the Comprehensive Credit
Facility Agreement of Maximum Amount
(No.81001200813170001).
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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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Guarantee
of the loan agreement
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Rights
and obligation of the Company
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Rights
and obligations of the Creditor
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Disputation
settlement
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Validity
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Text
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Notification
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