Guaranty Agreement between Shenzhen Nanshan Branch of Guangdong Development Bank and Shenzhen BAK Battery Co., Ltd. (January 11, 2006)

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Summary

This agreement is between Shenzhen Nanshan Branch of Guangdong Development Bank (the Creditor) and Shenzhen BAK Battery Co., Ltd. (the Guarantor). The Guarantor promises to cover the debts of Shenzhen Tongli High-tech Co., Ltd. (the Obligor) under a specific loan agreement. The guarantee covers the loan principal, interest, penalties, and related costs. The guarantee lasts for two years after the Obligor’s repayment deadline, or two years from any early loan maturity date. Other standard contract terms are included but not detailed in this summary.

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EX-10.2 3 bak8kex102011106.txt SUMMARY OF GUARANTY CONTRACT Exhibit 10.2 Summary Guaranty Contract Guaranty Contract Entered by and between Shenzhen Nanshan Branch of Guangdong Development Bank ("the Creditor") and Shenzhen BAK Battery Co., Ltd. (" the Guarantor ") dated January 11th, 2006. Summary of the main articles >> Contract number: 10208106002-01 >> In order to secure the indebtedness of Shenzhen Tongli High-tech Co., Ltd. (hereinafter referred to as Obligor) under the loan agreement (reference no. 10208106002, hereinafter referred to as Master Agreement) entered into by Creditor and Obligor, the Guarantor agrees to provide guaranty to the Creditor as the guarantor of the Obligor. >> Secured items include the loan principal, interest, penalty interest, breach of contract compensation and all the expenses incurred for the Creditor to realize its right under Loan Agreement; >> Guaranty period: |X| Two years from the expiry date that the Obligor should fulfill its obligations in accordance with Loan Agreement; |X| If due to the provisions of relevant PRC law or regulations or any agreement reached under Loan Agreement, any loan becomes mature ahead of its term, guaranty period shall be two years starting from the advance mature date. Summary of the articles omitted >> Method of Guaranty >> Scope of Guaranty >> Rights and Obligations of the Creditor >> Rights and Obligations of the Guarantor >> Liabilities of Breach of Contract >> Effectiveness, modification and termination of the Contract >> Notarization >> Applicable Laws and Dispute settlement >> Special Representation of the Guarantor >> Notes >> Miscellaneous