Common Contracts
2 similar null contracts by China Bak Battery Inc, Sorell, Inc
Arrears compensation Loan subject Interest rate rate ------------ --------------------------------------------------- -------------------- Fixed (standard Variable (standard contract of loan contract of loan Standard contract of transaction Article 3...Sorell, Inc • June 14th, 2006 • Non-operating establishments
Summary ------- Loan Agreement signed by and between the Company and Agricultural Bank on July 29th, 2005. Main contents >> Contract number: Shenzhen Longgang Nong Jie Zi NO.81101200500000995. >> Loan Principal: RMB 50 million; >> Loan term: from July...China Bak Battery Inc • August 19th, 2005 • Miscellaneous electrical machinery, equipment & supplies
Main contents >> Contract number: Shenzhen Longgang Nong Jie Zi NO.81101200500000995. >> Loan Principal: RMB 50 million; >> Loan term: from July 29th, 2005 to January 29, 2006. >> Interest rate: fixed rate of 5.2722%; |X| Penalty interest rate for delayed repayment: 5.2722% plus 50% *5.2722%; |X| Penalty interest rate for embezzlement of loan proceeds: 5.2722% * 2; >> Repayment: interest is payable monthly (20th); principal is payable on January 29, 2006; >> Purpose of the loan is to provide working capital for the Company; >> Advanced repayment of loan needs to be approved by the Lender; >> Breach of contract penalties: suspension of loan un-provided, demand prepayment of loan principal and interest before maturity; imposition of punitive interest; compensation for the Lender's expenses incurred due to the Company's breach of contract such as lawyer's fee, travel cost in case of litigation, etc.
