Attached files
Summary of Guaranty Contract of Maximum Amount ( the Contract) Entered into by and between Shenzhen BAK Battery Co., Ltd, Xiangqian Li (the Guarantor) and Tianjin Branch, Bank of Dalian (the Creditor) on October 27, 2010
Main contents:
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Guaranty Contract number: DLQ Jin201010270014;
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Shenzhen BAK Battery Co., Ltd and Xiangqian Li undertake to assume joint and
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several liabilities for BAK International (Tianjin) Limited (the Obligor)s indebtedness towards Bank of Dalian from October 27, 2010 to January 26, 2012, and the maximum amount secured is RMB 50 million.
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Guaranty Responsibility: The guaranty under this Contract shall be guaranty with joint and several liabilities. The guarantor is obligated to pay off the debt in the event the obligor is unable to pay off the debt (including the creditor declares the debt becomes mature in advance to its original expiry date due to default of the obligor or the guarantor).
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Scope of Guaranty: The guaranty shall cover all of the loan principal, interest, penalty interest, breach of contract compensation, damages, undertaking fee and all the expenses such as litigation cost, lawyers fee, notification cost and public notice cost etc. which is incurred to the Creditor in realizing its creditors right.
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Guaranty period: The guaranty period is from the effective date of this Contract to two years after the expiry of the term of the Credit Facility Agreement and relevant agreement entered into under the Credit Facility Agreement.
Headlines of the articles omitted:
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Termination and explanation
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Payment on demand
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Declaration and undertaking of the Guarantor
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Obligations of the Guarantor
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Continuity of guaranty
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Amendment and explanation of the Contract
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Disputation settlement
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Validity
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Supplement articles