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Guaranty Contract number: DLQ Jin201111210022;
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Shenzhen BAK Battery Co., Ltd and Xiangqian Li
undertake to assume joint and several liabilities for BAK International
(Tianjin) Limited (the Obligor)s indebtedness towards Bank of Dalian
from November 22, 2011 to February 21, 2013, and the maximum amount
secured is RMB 80 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. |