Guaranty Agreement between Shenzhen High-Tech Investment Service Co. and Shenzhen Branch, Industrial Bank (March 10, 2004)

Contract Categories: Business Finance › Guaranty Agreements
Summary

Shenzhen High-Tech Investment Service Co. entered into a guaranty agreement with the Shenzhen Branch of Industrial Bank on March 10, 2004. Under this agreement, Shenzhen High-Tech guarantees the obligations of Shenzhen BAK Battery Co., Ltd. related to a loan, up to a maximum amount of RMB 20,000,000. This means that if Shenzhen BAK Battery Co., Ltd. fails to meet its loan obligations, Shenzhen High-Tech will be responsible for repayment up to the specified limit.

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EX-10.17 19 medina8kex1017011805.txt SUMMARY OF GUARANTY CONTRACT EXHIBIT 10.17 Summary of Guaranty Agreement by and between Shenzhen Branch, Industrial Bank and Shenzhen High-Tech Investment Service Co. ("Shenzhen High-Tech") dated as of March 10, 2004. Shenzhen High-Tech signed a guaranty on March 10, 2004 in relation to the Loan Agreement as summarized in Exhibit 10.16. According to the guaranty, the guarantor undertakes to assume the liability of Shenzhen BAK Battery Co., Ltd., subject to the maximum security amount of RMB 20,000,000 Yuan.