Guaranty Agreement for Comprehensive Credit Facilities—Huaruan Company, Xiangqian Li, and China Minsheng Bank (Nov. 15, 2003)
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Summary
Jilin Provincial Huaruan Technology Company Limited by Shares and Xiangqian Li agreed to guarantee the obligations of Shenzhen BAK Battery Co., Ltd. under a credit facilities agreement with China Minsheng Bank. The guarantors are jointly and severally liable for up to RMB 30 million. This guaranty is valid for two years from the maturity date of each loan covered by the agreement.
EX-10.15 17 medina8kex1015011805.txt SUMMARY OF GUARANTY CONTRACT EXHIBIT 10.15 Summary of Guaranty Contract of Maximum Amount by and among Longgang Division, Shenzhen Branch, China Minsheng Bank, Jilin Provincial Huaruan Technology Company Limited by Shares ("Huaruan Company") and Xiangqian Li dated as of November 15, 2003. Huaruan Company and Xiangqian Li signed a guaranty on November 15, 2003 in relation to the Comprehensive Credit Facilities Agreement (the "Agreement") as summarized in Exhibit 10.14. According to the guaranty, each of the guarantors undertakes to assume joint and several liabilities for the obligation of Shenzhen BAK Battery Co., Ltd. under the Agreement, subject to the maximum security amount of RMB 30,000,000 Yuan. The guaranty has a term of two (2) years, commencing from the maturity of each loan agreement under the Agreement.
