Comprehensive Credit Facility Agreement between Shenzhen BAK Battery Co., Ltd and Bank of China, Shenzhen Branch (March 4, 2009)

Summary

Shenzhen BAK Battery Co., Ltd (the Debtor) and the Shenzhen Branch of Bank of China (the Creditor) entered into a credit facility agreement on March 4, 2009. The bank will provide up to RMB 450 million in credit to the company for working capital needs, with the facility available until February 3, 2010. If the debtor breaches the agreement, the bank may adjust or suspend the credit, impose additional interest or fees, require more collateral, or demand early repayment. The agreement also covers procedures for using the credit, guarantees, and dispute resolution.

EX-10.9 9 v148592_ex10-9.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 Branch, Bank of China (the “Creditor”) Dated March 4th, 2009

Main articles:

Ø	Contract number: Zhenzhongyin Exiezi 000024;

Ø	Maximum amount of credit facilities to be provided: RMB 450 million;

Ø	Term: from March 4th, 2009 to February 3rd, 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	Procedure on using the comprehensive credit facility

Guarantee

Ø	Declaration and promise of the Debtor

Ø	Transferring of the credit facility under the maximum amount

Ø	Disputation settlement

Fee

Ø	Attachment

Validity

Ø	Notification