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
January 6th, 2009.
Main
contents
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Contract number: 00000000000000000;
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Loan principal: XXX 00 xxxxxxx;
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Xxxx xxxx: from January 6th, 2009 to January 5th, 2010;
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Floating interest rate:
annually 5.31%, 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: 5.31% plus 50% *5.31%;
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Penalty interest rate for
embezzlement of loan proceeds: 5.31% *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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