Document:

Exhibit 10.48

Summary of Loan Agreement by and between Shenzhen BAK Battery Co., Ltd. and Shenzhen Eastern Branch, Agricultural Bank of China dated July 11, 2006.

	
  
Summary of the main articles
  
	
  
•
  	
  
Contract   number: No. 81101200600001201
  
	
  
•
  	
  
Loan   Principal: RMB 20 million;
  
	
  
•
  	
  
Loan term: six   months starting from the date loan is actually provided to the Company.
  
	
  
•
  	
  
Interest   rate: fixed rate of 5.40%;
  
	
  
 
  	
  
•
  	
  
Penalty   interest rate for delayed repayment: 5.40% plus 50% *5.40%;
  
	
   
  	
  
•
  	
  
Penalty   interest rate for embezzlement of loan proceeds: 5.40% * 2;
  
	
  
•
  	
  
Purpose of   the loan is to provide working capital for the Company;
  
	
  
•
  	
  
Advanced   repayment of loan needs to be approved by the Lender;
  
	
  
•
  	
  
Breach of   contract penalties: suspension of loan not yet provided,   demand prepayment of loan principal and interest before maturity; imposition   of punitive interest; compensation for the Lender’s expenses incurred due to   the Company’s breach of contract such as lawyer’s fee, travel cost in case of   litigation, etc.
  
	
  
Summary of the articles omitted
  
	
  
•
  	
  
Types of the   loan
  
	
  
•
  	
  
Clearing of   the loan interest
  
	
  
•
  	
  
Conditions   precedent to the drawing of the loan
  
	
  •
  	
  Rights and   obligations of the Borrower
  
	
  •
  	
  Rights and   obligations of the Lender
  
	
  •
  	
  Guarantee of   the loan
  
	
  •
  	
  Dispute   settlement
  
	
  •
  	
  Miscellaneous
  
	
  •
  	
  Validity
  
	
  •
  	
  NotesExhibit 10.49

Summary of Loan Agreement by and between Shenzhen BAK Battery Co., Ltd. and Shenzhen Eastern Branch, Agricultural Bank of China dated July 25, 2006.

	
  
Summary of the main articles
  
	
  
•
  	
  
Contract   number: No. 81101200600001251
  
	
  
•
  	
  
Loan   Principal: RMB 20 million;
  
	
  
•
  	
  
Loan term: six   months starting from the date loan is actually provided to the Company.
  
	
  
•
  	
  
Interest   rate: fixed rate of 5.40%;
  
	
  
 
  	
  
•
  	
  
Penalty   interest rate for delayed repayment: 5.40% plus 50% *5.40%;
  
	
   
  	
  
•
  	
  
Penalty   interest rate for embezzlement of loan proceeds: 5.40% * 2;
  
	
  
•
  	
  
Purpose of   the loan is to provide working capital for the Company;
  
	
  
•
  	
  
Advanced   repayment of loan needs to be approved by the Lender;
  
	
  
•
  	
  
Breach of   contract penalties: suspension of loan not yet provided,   demand prepayment of loan principal and interest before maturity; imposition   of punitive interest; compensation for the Lender’s expenses incurred due to   the Company’s breach of contract such as lawyer’s fee, travel cost in case of   litigation, etc.
  
	
  
Summary of the articles omitted
  
	
  
•
  	
  
Types of the   loan
  
	
  
•
  	
  
Clearing of   the loan interest
  
	
  
•
  	
  
Conditions   precedent to the drawing of the loan
  
	
  •
  	
  Rights and   obligations of the Borrower
  
	
  •
  	
  Rights and   obligations of the Lender
  
	
  •
  	
  Guarantee of   the loan
  
	
  •
  	
  Dispute   settlement
  
	
  •
  	
  Miscellaneous
  
	
  •
  	
  Validity
  
	
  •
  	
  NotesExhibit 10.50

Application Letter for Drawing of Bank Loan Facility

 No. Jie 2005 Zong 1145042R-10

To: Shenzhen Branch, China Construction Bank

In accordance with the Comprehensive Credit Facility Agreement (No. Jie 2005 Zong 1145042R, hereinafter referred to as “Agreement”) entered into between your company and us, namely, Shenzhen BAK Battery Co., Ltd., we would like to apply for the drawing of the loan facility under the Agreement.

I. We would like to apply for the bank loan of RMB Twenty Million Yuan (RMB 20,000,000 yuan).

II. The term of this bank loan shall be six months.

III. The purpose of this bank loan is for production working capital. 

IV. Interest Rate and Interest

	
  
(1)
  	
  
Loan in RMB
  
	  
	  

	
  
1.
  	
  
Interest   Rate
  

The interest rate for the bank loan is 4.725% per month fixed for the whole bank loan term.

	
  2.
  	
  
Penalty   Interest Rate
  

The penalty interest rate is fixed at 9.45% per month in case that we use the bank loan for purpose other than that stated in this application letter;  

The penalty interest rate is fixed at 7.0875% per month in case that we delayed in repayment of the loan.

3.  The interest will be calculated from the date of transfer of the loan into the account of the Borrower. The interest will be calculated by the day and the daily interest = monthly interest/30 = annual interest/360. In case that we fail to pay the interest on time, compound interest will be imposed from the next day.

4. Payment of Interest 

  The interest will be paid monthly at the 20th day of each month. 

(2)  Loan in Foreign Currency

N/A

V.  Repayment Plan

  We will repay the principal of the loan according to the following schedule:

  Date: 13 February 2007,  Amount: RMB 20,000,000.00 yuan

VI. This letter shall come into effect once it is signed by the legal representative (or authorized representative) of us and stamped with our company chop. This letter is an appendix and an integral part to the Agreement. This letter is irrevocable. We will perform our obligations strictly in accordance with the Agreement and its appendix. Please review and approve our application.

VII. This letter has three counterparts.

Applicant: Shenzhen BAK Battery Co., Ltd. (stamped)
 Legal Representative (person in charge): Xiangqian Li (signed)
 Date: 14 August 2006

After examination, we approved the above
application. 
 Shenzhen Branch, China Construction Bank (stamped)
 Person
in charge or authorized representative: (signature):           /s/          
 Date: 14 August 2006

2Exhibit 10.51

Summary of Comprehensive Credit Facility Agreement between Shenzhen BAK Battery Co., Ltd. (“the Company”) and Shuibei Branch, Shenzhen Commercial Bank (“Commercial Bank”) dated August 15, 2006.

	
  
Summary of the articles omitted
  
	
  
•
  	
  
Contract number: Shen Shangyin (Shuibei)   Shouxinzi (2006) A110020600016
  
	
  
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Maximum amount for credit facilities to be   provided: RMB50 million;
  
	
  
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Term: from August 15, 2006 to August 15,   2007;
  
	
  
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Interest rate of loan shall be based on the   revlevant clauses of the loan agreement entered into under this Agreement;
  
	
  
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Breach of contract: misuse of the credit   facilities; delay in repayment of loan principal or interest; transfer of   assets, secretly withdrawing funds to evade repayment of debts; breaching any   clauses of this agreement; the legal representative or the major management   of the Company or the Guarantor of this agreement is involved in any criminal   case; the Company does not perform its obligations under any   other contract with the Creditor or any other banks in due time;
  
	
  •
  	
  Breach of contract penalty: adjustment of   credit, cancellation of unused credit; declare the expiry of the issued loan   principal and interest in advance of its original expiry date, and demand   repayment of the issued loan principal and interest immediately, imposition   of punitive interest; demanding additional sufficient deposit or guaranty;   report to any other organization or publication in media; take any other   remedy measures pursuant to the relevant laws and regulations;
  
	
  •
  	
  Credit facilities
  
	
  •
  	
  The use of the credit facilities
  
	
  •
  	
  Repayment of the loan
  
	
  •
  	
  Representation and warranty of the Creditor
  
	
  •
  	
  Other issues   agreed by both parties
  
	
  •
  	
  MiscellaneousExhibit 10.52

Guaranty Contract of Maximum Amount

No. Shen Shangyin (Shuibei) Shouxin Baozi (2006) A110020600016 

Guarantor: BAK International Limited
 Address: Rm1201, Wing On Centre, 111 Connaught Road Central, Hong Kong

Creditor: Shuibei Division, Shenzhen Commercial Bank
 Address: 2028, Wenjin Bei Rd, Shenzhen

The Creditor and the Guarantor have reached the following agreement in accordance with the Guarantee Law and Contract Law of People’s Republic of China and other relevant laws and regulations.

Article I. Guaranty

	
  
1.1
  	
  
Shenzhen BAK Battery Co., Ltd.
(hereinafter referred to as “Obligor”) and the Creditor have entered into the
Comprehensive Credit Facility Agreement (reference no.: Shen Shangyin (Shuibei)
Shouxin Zi (2006) A110020600016, hereinafter referred to as “Master Agreement”).
As requested by the Obligor, the Guarantor undertakes to provide guaranty for
the indebtedness of the Obligor under the Master Agreement.
 
	
  
1.2
  	
  
The guaranty   under this Contract shall be guaranty with joint and several liability. 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 costs, lawyer’s fee, notification costs and   public notice costs which are incurred to the Creditor in realizing its   creditor’s right.
  
	
   
  	
  
The maximum   loan principal shall be RMB 50 million.
  
	
  
1.3
  	
  
The guaranty   period is from the effective date of this Contract to two years after the   expiry of the term of the Master Agreement and relevant agreement entered   into under the Master Agreement.
  

	
  
1.4
  	
  
The guaranty   under this Contract is independent. In case that the Obligor provide guaranty   to the Creditor, the Guarantor shall continue to assume the full obligation   of guaranty for all indebtedness as stated in clause 1.1 of this Contract.
  
	
  
1.5
  	
  
This   Contract is irrevocable. This Contract shall not be influenced by any   documentation or agreement entered into by the Obligor and any party, and   shall not be influenced by the misuse of the credit facilities, insolvency,   bankruptcy, loss of legal person status, amendment of articles of   association, cessation of business operation, acquisition, division and   merger etc. of the Obligor, nor any change of the profession, position or financial   capacity of the Guarantor.
  
	
  
1.6
  	
  
The   effectiveness of this agreement is independent of the Master Agreement. This   agreement shall survive the invalidity of the Master Agreement or any of its   clauses, or the relevant agreement entered into under the Master Agreement or   any of its clauses.
  

Article II. Performance of Guaranty

	
  
2.1
  	
  
In case the   Obligor fails to repay any of the debts under any of the relevant agreement   entered into under the Master Agreement upon the expiry date of such debt (or   the date the Creditor declared the maturity of such debt in advance of its   original expiry date), the Guarantor undertakes to unconditionally pay such   debt to the Creditor within 7 days after the receipt of the notice in writing   thereof from the Creditor. Any instrument signed by any authorized person of   the Creditor certifying the past due indebtedness shall be deemed as the   notification of the Creditor demanding the Guarantor to pay the past due   indebtedness.
  
	
  
2.2
  	
  
The   Guarantor irrevocably authorizes the Creditor to directly transfer any amount   equaling to the past due indebtedness from any deposit account of the   Guarantor to the account of the Creditor. The Creditor shall notify the   Guarantor in writing of such transfer, and the Creditor is entitled to demand   the Guarantor to pay for the outstanding amount. In the event the amount   transferred is not sufficient to pay all the past due indebtedness, such   amount shall be used to repay the expenses first, and then interest and   principal comes last.
  

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Article III. Undertakings and Representations of the Guarantor

	
  3.1
  	
  
The   Guarantor has read the Master Agreement carefully and accepts all clauses of   the Master Agreement. The relevant agreements entered into by the Creditor   and the Obligor under the Master Agreement do not need the confirmation of   the Guarantor.
  
	
  
3.2
  	
  
The   Guarantor undertakes that the Guarantor shall continue to assume the   obligation of guaranty in case of the amendment of the Master Agreement by   the Creditor and the Obligor and such amendment does not need the consent of   the Guarantor. Without prejudice to the above, the Guarantor shall assume the   obligation of guaranty for the indebtedness under the Master Agreement before   the amendment if such amendment increases the indebtedness of the Obligor and   such amendment has not been approved by the Guarantor in writing.
  
	
  
3.3
  	
  
The   Guarantor undertakes:
  
	
  
 
  	
  
(1)
  	
  
It has   obtained all necessary authorization or approval to execute and perform this   Contract;
  
	
  
 
  	
  
(2)
  	
  
the execution   and performance of this Contract by the Guarantor does not violate its   articles of corporation or the government regulations;
  
	
  
 
  	
  
(3)
  	
  
it does not   disguise any material adverse legal litigation when this agreement is signed;
  
	
  3.4
  	
  
The Creditor   is entitled to examine the Guarantor’s financial capacity during the term of   this Contract and the Guarantor shall give necessary assistance. The   Guarantor shall provide truthful, comprehensive and effective financial   reports and other relevant materials and information to the Creditor.
  
	
  
3.5
  	
  
The right of   the Creditor demanding repayment is prior to the shareholders’ right.
  
	
  
3.6
  	
  
The   Guarantor shall give a 30-day prior written notification to the Creditor, and   shall not take any of the following actions before it repays all the loan   principal and interest or offers a repayment plan and guaranty that is   acceptable to the Creditor:
  
	
  
 
  	
  
(1)
  	
  
The   Guarantor changes its capital structure or management system, which includes   (without limitation) contractual management, lease, shareholding reform,   joint venture, merger, acquisition, division, etc;
  

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(2)
  	
  
The   Guarantor sells, donates, lends, leases, transfers, mortgage or in any other   way, any of its material assets (mainly referring to fixed asset), which   value exceeds 30% of its net assets;
  
	
   
  	
  
(3)
  	
  
Issuance of   large-amount dividends, foreign investment, repayment of shareholders’   indebtedness, and advance repayment of other long-term indebtedness,   providing large-amount guaranty for any other third party, or the Guarantor’s   financial condition or ability to perform its obligations under this   agreement is materially and adversely affected.
  
	
  
3.7
  	
  
The   Guarantor shall notify the Creditor in writing within 7 days after any of the   following events occurs or threatens to occur; in case the occurrence of the following   events bring materially adverse influence on the Guarantor’s ability to   perform its obligations under this agreement, the Guarantor shall provide   specific resolutions for repaying the loan principal and interest that is   acceptable to the Creditor.
  
	
  
 
  	
  
(1)
  	
  
The   Guarantor’s business operation deteriorates or suffers material loss;
  
	
  
 
  	
  
(2)
  	
  
The   Guarantor is involved in any material litigation, or its major assets are   subject to property preservation;
  
	
  
 
  	
  
(3)
  	
  
The   Guarantor ceases its business operation or suffers bankruptcy, or its   business license has been withdrawn;
  
	
   
  	
  
(4)
  	
  
The   Guarantor changes its legal representative, address or contact;
  
	
  
 
  	
  
(5)
  	
  
Any other   material event that may materially affect its financial status.
  
	
  
3.8
  	
  
The   Guarantor undertakes to maintain reasonable financial ratio during the   guaranty term.
  

4

Article IV. Breach of contract

	
  
4.1
  	
  
The occurrence   of any of the following events may constitute the breach of contract:
  
	
  
 
  	
  
(1)
  	
  
The   Guarantor does not perform its liability of repaying the loan in substitution   fully in time;
  
	
  
 
  	
  
(2)
  	
  
The   Guarantor breaches any of the clauses of this agreement, or any of its   undertakings and representations;
  
	
   
  	
  
(3)
  	
  
The   Guarantor transfers its property or secretly withdrawing funds to evade   repayment of debts;
  
	
  
 
  	
  
(4)
  	
  
The legal   representative or chief officer(s) of the Guarantor is involved in any   criminal case;
  
	
  
 
  	
  
(5)
  	
  
The   Guarantor does not perform its obligations under any other contract with the   Creditor or any other banks in due time;
  
	
  
4.2
  	
  
The Creditor   is entitled to take the following actions upon the occurrence of the breach   of contract:
  
	
  
 
  	
  
(1)
  	
  
declare the   maturity of the indebtedness in advance to its original expiry date in   accordance with the Master Agreement, and demand the Guarantor perform its   liability of pay compensation in substitution immediately;
  
	
  
 
  	
  
(2)
  	
  
demand the   Guarantor provide additional guaranty that is acceptable to the Creditor;
  
	
   
  	
  
(3)
  	
  
report to   the relevant organization, and publicize it in any media;
  
	
  
 
  	
  
(4)
  	
  
take any   other remedy measures pursuant to the relevant laws and regulations.
  

Article V Miscellaneous

	
  
5.1
  	
  
The Creditor   is entitled to obtain relevant notarization certificate with compulsory   enforcement effect for purpose of this agreement;
  
	
  
5.2
  	
  
Any dispute   arising from this Contract shall be submitted to the People’s Court of the   place of the Creditor and the laws of People’s Republic of China shall be the   governing law.
  
	
  
5.3
  	
  
This   Contract shall come into effect once it is signed by the Guarantor and the   legal representative/authorized representative of the Creditor and stamped   with the company chop of the Guarantor.
  
	
  
5.4
  	
  
This   Contract has three originals, the Creditor shall retain two originals and the   Guarantor shall retain one original.
  

5

Guarantor (Signature): /s/ Xiangqian Li

 Company chop (BAK International Limited)
 Date: August 15,
2006 
 Venue: Shenzhen

Creditor (Company Chop): Shenzhen
Commercial Bank, Shuibei Branch
 Legal Representative/Authorized
Representative:           /s/          

Date: August 15, 2006 
 Venue: Shenzhen

6

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