Bank Credit Line: Shenzhen Highpower Technology Co., Ltd. ( “Borrower”)Bank Credit Line Agreement • November 5th, 2007 • Hong Kong Highpower Technology, Inc. • Blank checks
Our bank, DBS Bank (China) Limited Shenzhen Branch together with its successor and transferee (“Bank”) hereby notifies you with pleasure that the Bank now contemplates to provide you as Borrower (as shown in detail in Appendix 1) with the following bank credit line (“Credit Line”) according to the terms and conditions set out below. The Bank can examine the Credit Line at any time (including the annual auditing thereof conducted as per the practices of the Bank and customary bank practices). The Bank has the right and may elect (but is under no obligation) to issue, after the auditing, a notice on the extension of the Credit Line to the Borrower or any collateral provider and/or any guarantor. Whether such a notice is issued or not does not prejudice any right and power of the Bank under this letter and/or any guarantee or mortgage document.
