Summary of Loan Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Shenzhen Branch, China CITIC Bank Co., Ltd (“the Creditor”) Dated June 3, 2011 Main contentsLoan Agreement • August 9th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Floating interest rate: Interest rate of loan shall be 110% of the benchmark rate announced by the People’s Bank of China, and be adjusted in line with benchmark interest rate adjustment of The People’s Bank of China;
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 April 14, 2011 Main contentsLoan Agreement • August 9th, 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 one month;
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 April 18, 2011 Main contentsLoan Agreement • August 9th, 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 one month;
Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd (“the Debtor”) and Shenzhen Branch, China Citic Bank (the “Creditor”) Dated May 6th, 2011 Main articles:Credit Facility Agreement • August 9th, 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.
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 April 13, 2011 Main contentsLoan Agreement • August 9th, 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 one month;
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”) Dated June 13, 2011 Main contents:Loan Agreement • August 9th, 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;
Supplemental Agreement Entered into by and between Shenzhen BAK Battery Co., Ltd. (“the Borrower”) and Shenzhen Branch, China Development Bank Co., Ltd (“the Lender”) dated June 13, 2011Supplemental Agreement • August 9th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
Whereas, the Borrower and the Lender have entered into a loan agreement (contract number: 4403236012009020660) (hereinafter called “Prime Loan Agreement”). Hereby, the parties agree to enter into the following Supplemental Agreements (contract number: 4403236012011020646) for amending part of the clauses of the Loan Agreement:
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, Bank of China (the “Creditor”) Dated May 3, 2011 Main articles:Credit Facility Agreement • August 9th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
In the event of occurrence of any of the following during the term of loan, the Creditor is entitled to adjust the credit amount or even terminate the credit:
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”) Dated June 13, 2011Mortgage Contract of Maximum Amount • August 9th, 2011 • China Bak Battery Inc • Miscellaneous electrical machinery, equipment & supplies
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.
