CBAK Energy Technology, Inc. - FORM 10-Q - EX-99.2 - EXHIBIT 99.2 - February 9, 2011

Attached files

file filename
10-Q - FORM 10-Q - CBAK Energy Technology, Inc.form10q.htm
EX-31.1 - EXHIBIT 31.1 - CBAK Energy Technology, Inc.exhibit31-1.htm
EX-99.1 - EXHIBIT 99.1 - CBAK Energy Technology, Inc.exhibit99-1.htm
EX-32.1 - EXHIBIT 32.1 - CBAK Energy Technology, Inc.exhibit32-1.htm
EX-99.5 - EXHIBIT 99.5 - CBAK Energy Technology, Inc.exhibit99-5.htm
EX-32.2 - EXHIBIT 32.2 - CBAK Energy Technology, Inc.exhibit32-2.htm
EX-99.3 - EXHIBIT 99.3 - CBAK Energy Technology, Inc.exhibit99-3.htm
EX-31.2 - EXHIBIT 31.2 - CBAK Energy Technology, Inc.exhibit31-2.htm
EX-99.4 - EXHIBIT 99.4 - CBAK Energy Technology, Inc.exhibit99-4.htm
EX-99.6 - EXHIBIT 99.6 - CBAK Energy Technology, Inc.exhibit99-6.htm

Exhibit 99.2

Summary of Loan Agreement Entered into by and between Shenzhen BAK
Battery Co., Ltd. (“the Company”) and Shenzhen Eastern Branch, Agricultural
Bank of China (“the Creditor”) dated December 22, 2010

Main contents

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    Contract number: 81010120100000600;
       
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    Loan principal: RMB 75 million;
       
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    Loan term: from December 22, 2010 to December 21, 2011;
       
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    Floating interest rate: Interest rate of loan shall be 95% of the benchmark rate announced by the People’s Bank of China, and be adjusted every 3 months;
       
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    Interest accrued and settled per month, interest settlement day is the 20th day of each month;
       
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    Penalty interest rate for delayed repayment: current interest rate plus 50% * current interest rate;
       
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    Penalty interest rate for embezzlement of loan proceeds: current interest rate *1;
       
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    Purpose of the loan is to repay loans for the Company;
       
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    Advanced repayment of loan needs to be approved by the Creditor;
       
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    Breach of contract penalties: correct the breach of contract in time limit; suspension of loan unprovided; release loan agreement, demand prepayment of loan principal and interest before maturity; imposition of punitive interest incurred due to delayed loan; imposition of punitive interest for embezzlement of loan; imposition of plural interest for unpaid interest; withdraw from any accounts of the Company the loan principal, interest and other fees; compensation for the Creditor’s expenses incurred due to demanding the loan principal and interest in case of litigation, etc.

    Headlines of the articles omitted:

    • Loan arrangement

    • Interest clearing of the loan

    • Payment of the loan

    • Rights and obligation of the Creditor

    • Rights and obligations of the Company

    • Interest penalty of loan

    • Guarantee of the loan agreement

    • Disputation settlement

    • Validity

    • Text

    • Notification

    CBAK Energy Technology, Inc. Reports

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