Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Longgang Branch, Shenzhen Development Bank Co., Ltd (the “Creditor”) on August 4, 2010 Main contents:Loan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be at 95% of the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
Summary of Mortgage Contract of Maximum Amount ( the “Contract”) Entered into by and between Shenzhen BAK Battery, Co., Ltd (the “Mortgager”) and Longgang Branch, Shenzhen Development Bank Co., Ltd (the “Creditor”) on January 20, 2011 Main contents:China Bak Battery Inc • May 10th, 2011 • Miscellaneous electrical machinery, equipment & supplies
Contract number: Shenfa Longgang Edizi 20110120001-1; In order to guarantee the indebtedness of Shenzhen BAK Battery Co., Ltd. (the “Obligor”) towards the Creditor under the Comprehensive Credit Facility Agreement of Maximum Amount (reference no.: Shenfa Longgang Zongzi 20110120001) from January 26, 2011 to January 18, 2012, the Mortgager agrees to pledge its property to the Creditor. Scope of Guaranty: The guaranty shall cover all of the loan principal, interest, penalty interest, breach of contract compensation, damages, undertaking fee and all the expenses such as litigation cost, lawyer’s fee, notification cost and public notice cost etc. which is incurred to the Creditor in realizing its creditor’s right. Collaterals: The Mortgager agrees to pledge its inventory of cells with an aggregate value of RMB 150 million to the Creditor.
Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Longgang Branch, Shenzhen Development Bank Co., Ltd (the “Creditor”) on January 30, 2011 Main contents:Loan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be equal to the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
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 11, 2011 Main contentsLoan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be equal to the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
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 18, 2011 Main contentsLoan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be equal to the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd (“the Company”) and Shenzhen Longgang Branch, Shenzhen Development Bank (the “Creditor”) Dated January...Comprehensive Credit Facility Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Remedies in the event of breach of contract include adjustment of the credit amount, suspension of credit, imposition of punitive interest and overdue interest, an increase of guarantee deposit and the call back of loan principal and interest before maturity.
Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between BAK International (Tianjin) Limited (“the Company”) and Tianjin Branch, Bank of Dalian (the “Creditor”) Dated October 27, 2010 Main...Comprehensive Credit Facility Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
If any of the following occurs, the Creditor is entitled to demand adjustment of the maximum amount of credit facilities:
Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd (the “Company”) and Shenzhen Hi-Tech District Branch, Industrial Bank CO. Ltd (the “Creditor”) Dated...Comprehensive Credit Facility Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Contract number: Xingyinshen Gaoxinqu Shouxinzi(2010)013; Maximum amount of credit facilities to be provided: RMB 62.5 million; Term: from December 26, 2010 to December 26, 2011; Purpose of the loan is to provide working capital for the Company; Remedies in the event of breach of contract include adjustment of the credit amount, suspension of credit, imposition of punitive interest and overdue interest, an increase of guarantee deposit and the call back of loan principal and interest before maturity.
Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Longgang Branch, Shenzhen Development Bank Co., Ltd (the “Creditor”) on January 25, 2011 Main contents:Loan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be equal to the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Shenzhen Hi-Tech District Branch, Industrial Bank CO. Ltd (“the Creditor”) dated December 26, 2010Loan Agreement • May 10th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
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.
