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Guarantee Agreement > Summary of Guaranty Contract of Maximum Amount Entered into by and between Mr. Li Xiangqian and Shenzhen Branch, China CITIC Bank Co., Ltd
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Summary of Guaranty Contract of Maximum Amount
Entered into by and between Mr. Li Xiangqian and Shenzhen Branch,
China CITIC Bank Co., Ltd on May 9 th ,
2008
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Guaranty Contract number:
(2008)Shen Yin Sun EBaoZi 001;
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Main Contract number: (2008)Shen
Yin Sun ZongZi 003;
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As guarantor, Mr. Li Xiangqian
undertakes to assume joint and several liabilities for BAK
International Limited’s indebtedness towards China CITIC Bank
under the Guaranty Contract of Maximum Amount (reference no.:
(2008)shenyinsun ebaozi 001) 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 c
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