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Guarantee Agreement > Summary of Guaranty Contract of Maximum Amount Entered into by and between BAK International Limited and Shenzhen Branch, China CITIC Bank Co., Ltd
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Summary of Guaranty Contract of Maximum Amount
Entered into by and between BAK International Limited and Shenzhen
Branch, China CITIC Bank Co., Ltd on May 9 th ,
2008
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Contract
number: (2008)Shen Yin Sun ZuiBaoZi 003;
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BAK
International Limited undertakes to assume joint and several
liabilities towards China CITIC Bank under the Guaranty Contract of
Maximum Amount (reference no.: (2008) Shenyinsun zuibaozi 003) from
May 9 th , 2008 to Nov. 9 th , 2008, and the
maximum amount secured is RMB150 million.
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Guaranty
Responsibility: The guaranty under this Contract shall be guaranty
with joint and several liability. 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, lawyer’s fee, notification cost, etc, which is
incu
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