Comprehensive Credit Facility Agreement between Shenzhen BAK Battery Co., Ltd and Shenzhen Development Bank
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Summary
Shenzhen BAK Battery Co., Ltd (the Debtor) and Shenzhen Longgang Branch of Shenzhen Development Bank (the Creditor) entered into a credit facility agreement on December 8, 2008. The agreement provides the Debtor with up to RMB 150 million in credit for working capital, effective for one year. If the Debtor breaches the agreement, the Bank may adjust or suspend the credit, impose penalties, or demand early repayment. The contract also outlines procedures for using the credit, dispute resolution, and other standard terms.
EX-10.1 2 v139009_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 Longgang Branch, Shenzhen Development Bank (the “Creditor”) Dated December 8th, 2008
Main articles:
| Ø | Contract number: Shenfa Longgang Zongzi 20081203001; |
| Ø | Maximum amount of credit facilities to be provided: RMB 150 million; |
| Ø | Term: from December 8, 2008 to December 8, 2009. |
| Ø | Purpose of the loan is to provide working capital for the Company; |
| 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 | The procedure on using the comprehensive credit facility |
| Ø | The declaration and promise of the debtor |
| Ø | Transferring of the credit facility under the maximum amount |
| Ø | Disputation settlement |
| Ø | Validity |
| Ø | Notification |
