Guaranty Agreement Between Jilin Provincial Huaruan Technology Company Limited by Shares and Agricultural Bank of China (Shenzhen Branch)
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Summary
Jilin Provincial Huaruan Technology Company Limited by Shares agreed to guarantee the obligations of Shenzhen BAK Battery Co., Ltd. under a Revolvable Credit Facilities Agreement with the Agricultural Bank of China, Shenzhen Branch. The guaranty covers up to RMB 50,000,000 and lasts for two years starting from the maturity date of the borrower's obligations. Huaruan Company is jointly and severally liable for the borrower's debts under the agreement.
EX-10.9 11 medina8kex109011805.txt SUMMARY OF GUARANTY CONTRACT EXHIBIT 10.9 Summary of Guaranty Contract of Maximum Amount by and between Longgang Division, Shenzhen Branch, Agricultural Bank of China and Jilin Provincial Huaruan Technology Company Limited by Shares ("Huaruan Company") dated as of June 27, 2003. Huaruan Company signed a guaranty on June 27, 2003 in relation to the Revolvable Credit Facilities Agreement (the "Agreement") as summarized in Exhibit 10.8. As guarantor, Huaruan Company undertakes to assume joint and several responsibilities for the obligation of Shenzhen BAK Battery Co., Ltd. under the Agreement, subject to the maximum security amount of RMB 50,000,000 Yuan. The guaranty has a term of two (2) years, commencing from the maturity of the obligations of Shenzhen BAK Battery Co., Ltd. under the Agreement.
