Comprehensive Credit Facility Agreement between Shenzhen BAK Battery Co., Ltd and Bank of Communications (Shenzhen Caitian Branch) dated April 26, 2009

Summary

Shenzhen BAK Battery Co., Ltd and the Shenzhen Caitian Branch of Bank of Communications entered into a credit facility agreement on April 26, 2009. The bank will provide up to RMB 200 million in credit to the company for working capital from March 25, 2009 to March 25, 2010. If the company breaches the agreement, the bank may adjust or suspend the credit, impose penalties, or demand early repayment. The agreement outlines the process for using the credit, the company's obligations, and dispute resolution procedures.

EX-10.1 2 v156642_ex10-1.htm

Comprehensive Credit Facility Agreement of Maximum Amount (“Credit Facility Agreement”) Entered into by and between Shenzhen BAK Battery Co., Ltd (“the Debtor”) and Shenzhen Caitian Branch, Bank of Communications (the “Creditor”) Dated April 26, 2009

Main articles:

Ø	Contract number: 4431702009C000000000;

Ø	Maximum amount of credit facilities to be provided: RMB 200 million;

Ø	Term: from March 25, 2009 to March 25, 2010;

Ø	Purpose of the loan is to provide working capital for the Debtor;

Ø	Remedies in the event of breach of contract include adjustment of the credit amount, suspension of credit, imposition of punitive interest and overdue interest, an increase of guarantee deposit and the call back of loan principal and interest before maturity.

Headlines of the articles omitted

Ø	Definitions and explanations

Ø	Prerequisite for using the comprehensive credit facility

Ø	Procedure on using the comprehensive credit facility

Ø	Declaration and Guarantee of the Debtor

Ø	Obligations of the Debtor

Ø	Transferring of the credit facility under the maximum amount

Ø	Disputation settlement

Fee

Ø	Attachment

Validity

Ø	Notification