CONSUMER BATTERY LICENSE AGREEMENTConsumer Battery License Agreement • January 28th, 2008 • Hong Kong Highpower Technology, Inc. • Miscellaneous electrical machinery, equipment & supplies • Michigan
Consumer Battery License Agreement effective as of OBC’s receipt of the initial up-front payment (the “Effective Date”) by and between Ovonic Battery Company, Inc., a corporation of Delaware having a place of business at 1707 Northwood, Troy, Michigan 48084 (“OBC”) and SHENZHEN HIGH POWER TECH. CO., LTD., a corporation of China, having its Head Office at Luoshan Industry Zone, Shanxia, Pinghu, Shenzhen, People Republic of China (‘‘SHENZHEN HIGH POWER”)
Guaranty Contract for Maximum Credit Line (Applicable as of the date of execution of the Credit Line Contract) Contract Number: Shen Fa Ai Guo Lu Er Bao Zi, No. 816070618016Guaranty Contract for Maximum Credit Line • January 28th, 2008 • Hong Kong Highpower Technology, Inc. • Miscellaneous electrical machinery, equipment & supplies
To guarantee the performance of the “Contract for Line of Discount on Commercial Acceptance Bills” (Shen Fa Ai Guo Lu Shang No. 816070618014, hereinafter referred to as the “Master Contract”) signed by and between Party A and Shenzhen Highpower Technology Company Limited. (“Debtor”), Party B hereby provides Party A with joint and several liability guaranty as the guarantor of the Debtor in the Master Contract. After reaching agreement through consultations, the parties hereto have entered into this contract (the “Contract”) as represented by the terms and conditions set out below:
SHANGHAI PUDONG DEVELOPMENT BANK Contract for Guarantee of Maximum Line of CreditContract for Guarantee of Maximum Line of Credit • January 28th, 2008 • Hong Kong Highpower Technology, Inc. • Miscellaneous electrical machinery, equipment & supplies • Macau
In order to ensure that Debtor will fully and timely perform its obligations under the Master Contract (see Article 7 hereof) and to secure the realization of Creditor’s rights, Guarantor voluntarily offers to guarantee the repayment of all the debts raised by Debtor under the Master Contract.
Letter of UndertakingLetter of Undertaking • January 28th, 2008 • Hong Kong Highpower Technology, Inc. • Miscellaneous electrical machinery, equipment & supplies
This Letter of Undertaking is governed and interpreted in accordance with the laws of the People’s Republic of China. We covenanters irrevocably submit to the non-exclusive jurisdiction of the Chinese courts.
