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Guaranty Contract number:
81100520110000608; |
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Xiangqian Li and BAK International Limited
undertake to assume joint and several liabilities for Shenzhen BAK Battery
Co., Ltd (the Obligor)s indebtedness towards Agricultural Bank of China
under the Comprehensive Credit Facility Agreement of Maximum Amount
(reference no.: 81001201013170001) from November 30, 2011 to November 24,
2012, and the maximum amount secured is RMB 450 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. |