Document:

Exhibit 4.24

Exhibit 4.24

Translation

Changzhou Trina Solar Energy Co., Ltd.

(as the Borrower)

and

Agricultural Bank of China Co., Ltd., Jiangsu Branch

(as the Leading Bank)

Bank of China Limited, Jiangsu Branch

(as the Co-leading Bank)

The Export and Import Bank of China, Nanjing Branch

Agricultural Bank of China Co., Ltd., Changzhou Branch

Bank of Communications Co., Ltd., Changzhou Branch

China CITIC Bank Corporation Limited, Changzhou Branch

Bank of China Limited, Changzhou Branch

(as the Lenders)

Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

(as the Agent Bank)

 

Syndicated Loan Agreement on the Solar PV Industry Vertical Integration Product Project with the Annual Capacity of 500MW

 

September 2009

 

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Table of Contents

	 	 	 	 	 
	CHAPTER I DEFINITIONS AND INTERPRETATIONS
	 	 	1	 
	Article 1 Definitions and Interpretations
	 	 	1	 
	CHAPTER II LOAN
	 	 	7	 
	Article 2 Loan Amount
	 	 	7	 
	Article 3 Loan Term
	 	 	7	 
	Article 4 Loan Purposes
	 	 	7	 
	CHAPTER 3 WITHDRAWAL
	 	 	8	 
	Article 5 Conditions of Precedent of Withdrawal
	 	 	8	 
	Article 6 Withdrawal
	 	 	9	 
	CHAPTER IV REPAYMENT, REPAYMENT IN ADVANCE AND CANCELLATION
	 	 	12	 
	Article 7 Repayment
	 	 	12	 
	Article 8 Repayment in Advance
	 	 	13	 
	Article 9 Cancellation
	 	 	13	 
	CHAPTER V BORROWING COST AND EXPENSES
	 	 	13	 
	Article 10 Interest Rate
	 	 	13	 
	Article 11 Interest, Interest Accrual and Penalty
	 	 	15	 
	Article 12 Fees and Taxes
	 	 	16	 
	Article 13 Increased Costs
	 	 	16	 
	CHAPTER VI PAYMENT
	 	 	16	 
	Article 14 Payment of the Lenders
	 	 	16	 
	Article 15 Payment of the Borrower
	 	 	16	 
	Article 16 Payment Provisions
	 	 	17	 
	CHAPTER VII GUARANTY
	 	 	18	 
	Article 17 Guaranty in the Form of Suretyship
	 	 	18	 
	Article 18 Guaranty in the Form of Mortgage
	 	 	19	 
	CHAPTER VIII REPRESENTATIONS, WARRANTIES AND
UNDERTAKINGS
	 	 	20	 
	Article 19 Representations and Warranties
	 	 	20	 
	Article 20 Undertakings
	 	 	21	 
	Article 21 Financial Documents
	 	 	25	 
	CHAPTER IX BREACHING EVENTS
	 	 	25	 
	Article 22 Breaching Events
	 	 	25	 

 

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	 	 	 	 
	CHAPTER X RELATIONSHIPS WITHIN CONSORTIUM
	 	 	28	 
	Article 23 Leading Bank, Agent Bank and Lenders
	 	 	28	 
	Article 24 Consortium Meeting
	 	 	32	 
	Article 25 Proportional Indemnification
	 	 	33	 
	Article 26 Transfer and Assignment
	 	 	33	 
	CHAPTER XI GOVERNING LAW AND DISPUTE RESOLUTION
	 	 	35	 
	Article 27 Governing Law
	 	 	35	 
	Article 28 Dispute Resolution
	 	 	35	 
	CHAPTER XII OTHER PROVISIONS
	 	 	35	 
	Article 29 Confidentiality
	 	 	35	 
	Article 30 Proofs of Credits and Debts
	 	 	36	 
	Article 31 Changes to Law
	 	 	36	 
	Article 32 Offsetting
	 	 	36	 
	Article 33 Waiver and Severability
	 	 	36	 
	Article 34 Revision
	 	 	37	 
	Article 35 Notice
	 	 	37	 
	Article 36 Counterpart
	 	 	37	 
	Article 37 Effectiveness and Termination
	 	 	37	 
	 
	 	 	 	 
	Signature Page 
	 	 	38	 
	Appendix I Lender and Committed Loan Amount
	 	 	43	 
	Appendix II Form of Chairman of the Board’s Certificate
	 	 	44	 
	Appendix III Form of Withdrawal Notice
	 	 	45	 
	Appendix IV Form of Loan Participation Notice
	 	 	46	 
	Appendix V Form of Notice to Repayment in Advance
	 	 	47	 
	Appendix VI Form of Repayment Notice
	 	 	48	 
	Appendix VII Form of Payment Notice
	 	 	49	 
	Appendix VIII Form of Agent Bank Work Report
	 	 	50	 
	Appendix IX Form of Maximum Amount PropertyMortgage Contract
	 	 	51	 
	Appendix X Letter of Guarantee and Undertaking
	 	 	52	 
	Appendix XI Letter of Guarantee
	 	 	64	 
	Appendix XII Form of Funds Supervision Agreement
	 	 	75	 
	Appendix XIII Form of Transfer Certificate
	 	 	76	 
	Appendix XIV Form of Transferred Committed Loan Amount
	 	 	77	 

 

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

This Syndicated Loan Agreement (Reference: Changzhou Trina Solar Energy Co., Ltd. Syndicated
Loan No. 200901) is entered into by and among the following parties in Xinbei District, Changzhou
City on September 28, 2009:

I. Changzhou Trina Solar Energy Co., Ltd., a limited liability company incorporated and
existing under the laws of the People’s Republic of China, with its legal address being No. 2,
Tianhe Road, Electronic Industry Park, Xinbei District, Changzhou City, Jiangsu Province
(hereinafter the “Borrower”);

II. Agricultural Bank of China Co., Ltd., Jiangsu Branch as the Leading Bank (hereinafter the
“Leading Bank” when referred to in such capacity);

III. Bank of China Limited, Jiangsu Branch as the Co-Leading Bank (hereinafter the “Co-Leading
Bank” when referred to in such capacity);

IV. Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch as the Agent bank
(hereinafter the “Agent Bank” when referred to in such capacity); and

V. The Export and Import Bank of China, Nanjing Branch, Agricultural Bank of China Co., Ltd.,
Changzhou Branch, Bank of Communications Co., Ltd., Changzhou Branch, China CITIC Bank Corporation
Limited, Changzhou Branch and Bank of China Limited, Changzhou Branch as the Lenders (hereinafter
the “Lenders”).

The Parties hereby agree as follows:

Chapter I
Definitions and Interpretations

Article 1
Definitions and Interpretations

1.01 Definitions

For the purpose of this Agreement, unless otherwise defined herein, the following words and
terms therein shall have the following meanings:

“Consortium” refers to the syndicate organized for the purpose of the project hereunder,
consisting of Agricultural Bank of China Co., Ltd., Jiangsu Branch as the Leading Bank, Bank of
China Limited, Jiangsu Branch as the Co-Leading Bank, Agricultural Bank of China Co., Ltd.,
Changzhou Xinbei Sub-branch as the Agent Bank, and the banks specified in Appendix I hereof and the
participating banks hereunder as the Lenders.

“Lenders” refers to the banks specified in Appendix I hereof and/or the Transferee Banks.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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“Majority of the Lenders” refers to, in the case that the Loan Balance hereunder is zero, one
or more Lenders whose Committed Loan Amount amounts to more than two thirds of the Loan Amount of
all the Lenders; or, in the case that the Loan Balance is greater than zero, one or more Lenders
whose Participating Amount amounts to more than two thirds of the Loan Balance of all the Lenders.
USD Committed Loan Amount and the USD Loan Balance shall be converted into RMB at the central
parity quoted by the Foreign Exchange Administration on the day of the resolution of the meeting of
the Consortium (including meeting called in writing).

“Transferee Bank” shall have the meaning assigned by Article 26.03 hereof.

“Shareholders of the Borrower” refers to all the contributors of the registered capital
specified in the Articles of Association of the Borrower and any successor and assignee thereof.

“Affiliate” refers to enterprises or natural persons controlling or under control of the
Borrower individually or jointly. Such control means the direct power to control the operation,
management and decision of the Affiliate through holding of voting securities, by contracts or
other means.

“People’s Bank” refers to the People’s Bank of China, or as the context permits, any branch
thereof.

“Administration of Industry and Commerce” refers to the State Administration for Industry and
Commerce, or as the context permits, any local administration for industry and commerce.

“Loan Amount” refers to the RMB Loan Amount and USD Loan Amount referred to in Article 2.01
hereof. The Loan Amount shall be the sum of the Fixed Assets Loan Amount and the Working Capital
Loan Amount.

“Fixed Assets Loan” refers to the loan granted by the Lenders to the Borrower according to
this Agreement for construction of fixed assets of the Project by the Borrower.

“Fixed Assets Loan Amount” refers to the RMB Loan Amount and USD Loan Amount referred to in
Article 2.01(1) hereof.

“Working Capital Loan” refers to the loan granted by the Lenders to the Borrower according to
this Agreement for the purpose of providing the Project with working capital.

“Working Capital Loan Amount” refers to the RMB Loan Amount referred to in Article 2.01(2)
hereof.

“Loan Funds” refers to any RMB or USD loan principal granted or to be granted by the Lenders
within the Loan Amount according to this Agreement.

“Loan Balance” refers to the total amount of loan already granted hereunder but not repaid by
the Borrower yet at any time.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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“Committed Loan Amount” refers to, in the case of Lender at any time, the amount corresponding
to the name of such Lender in Appendix I hereof. Committed Loan Amount includes the Committed Fixed
Assets Loan Amount and the Committed Working Capital Loan Amount.

“Disposable RMB Committed Loan Amount” refers to, subject to any otherwise provision hereof,
in the case of any Lender at any time, the balance of any RMB Committed Loan Amount less the RMB
Loan Funds already granted according to this Agreement.

“Disposable USD Committed Loan Amount” refers to, subject to any otherwise provision hereof,
in the case of any Lender at any time, the balance of any USD Committed Loan Amount less the USD
Loan Funds already granted according to this Agreement.

“Disposable RMB Loan Amount” refers to at any time, the balance of the Disposable RMB
Committed Loan Amount of all Lenders less the RMB Loan Funds to be granted within the Loan Amount
and according to any issued Withdrawal Notice.

“Disposable USD Loan Amount” refers to at any time, the balance of the Disposable USD
Committed Loan Amount of all Lenders less the USD Loan Funds to be granted within the Loan Amount
and according to any issued Withdrawal Notice.

“Interest Period” refers to the Interest Period referred to in Article 11 hereof.

“Interest Rate” refers to the Interest Rate referred to in Article 10 hereof.

“LIBOR” refers to (1) the LIBOR corresponding to the Interest Period and currency of the
related Loan Funds as shown in the Reuters LIBOR page 01 or any substitute page thereof at or
around 11:00 a.m. (London time) of the day which is two London Business Days before the Withdrawal
Date (or the date of re-fixing of the interests of USD Loan Funds in the case of interest
re-fixing); or (2) where there is no such Interest Rate as shown in item (1) above, the arithmetic
mean of the interests quoted by the Reference Bank to the major banks in the London interbank
market at the request of and to the Agent Bank (accurate to the 4 decimal places by rounding up the
last digital).

“Reference Bank” refers to any other bank designated by the Agent Bank and for the reasonable
acceptance by the Borrower.

“London Business Day” refers to the day when the banks of London are normally open for
business, exclusive of Saturday, Sunday and the public holidays of London.

“Accounting Year” refers to, in the case of the Borrower, the period commencing from January 1
(inclusive) of each calendar year and ending on December 31 (inclusive) of such year.

“Signature Date” refers to the date when the final version referred to in Article 37 hereof is
executed by the Borrower, the Leading Bank, the Agent Bank and each Lender.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

“Effective Date” refers to the date when this Agreement becomes effective according to Article
37 hereof.

“Business Day” refers to any day when Chinese commercial banks are open to the public for
normal business (exclusive of legal holidays).

“Grace Period” refers to the period of eighteen (18) months commencing from the first
Withdrawal Date (inclusive). During the Grace Period, the Borrower is only obliged to pay the
interests of the Loan Balance according to this Agreement and has no obligation to repay the
principal of the Loan Balance.

“Withdrawal Date” refers to, in the case of each Loan Fund, the date when such Loan Fund is
granted to the Borrower.

“Withdrawal Period” refers to the period when the Borrower may withdraw the Loan Funds from
the Consortium according to this Agreement as specified in Article 6.06 and/or Article 6.07 and
Article 6.08 hereof.

“Interest Settlement Date” refers to any of March 20, June 20, September 20 and December 20 of
each calendar year.

“Repayment Date” refers to the date when the Borrower repays the Loan Funds as specified in
Article 7 hereof.

“Repayment Deadline” refers to the date immediately before the sixty (60) months after the
first Withdrawal Date hereunder.

“Withdrawal Notice” refers to any Withdrawal Notice formally issued by the Borrower in the
format and content of Appendix III hereof and approved by the Agent Bank on behalf of the Lenders;
the Withdrawal Notice shall be in one original and five counterparts.

“Debt” includes but not limited to any debt in relation to the following items:

(1) borrowings;

(2) any pledged bond, bond, promissory note, loan, stock or other similar instruments of the
company;

(3) any acceptance or documentary letter of credit;

(4) accounts receivable sold or discounted (exclusive of that without the recourse right);

(5) acquisition cost for any assets paid before or after taking possession thereof, in which
advance or delayed payment is primarily for financing for the acquisition of such assets;

(6) financing primarily for acquisition of lease assets;

(7) fair price payable for any currency swap, interest swap, upper and lower limit trading and
other derivative trading;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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(8) any amount raised in any way with the business borrowing or financing effect;

(9) any guaranty, indemnification or similar promise against the financial losses of any
person; or

(10) any other debt of related contracts.

Provided that no debt shall be double counting.

“Financial Statements” refers to the financial materials provided by the Borrower according to
Article 21 hereof, including but not limited to balance sheet, income statement and cashflow
statement or otherwise in original.

“Transfer Certificate” refers to the transfer certificate executed by related parities in the
format as stipulated in Appendix XIII hereof.

“Breaching Events” refers to any event set forth in Article 22.01 hereof.

“Material Adverse Effect” refers to material change of the Borrower’s asset status, financial
status or operation status, which has a material adverse effect on the Borrower’s capability to
fully perform the obligations hereunder.

“Project” refers to Changzhou Trina Solar Energy Co., Ltd.’s Solar PV Industry Vertical
Integration Product Project with an Annual Capacity of 500MV. The Project is located in Changzhou
City of Jiangsu Province, to the south of Xinghan Electronic, the north of Nenjiang Road, the east
of Chuangxin Road and the west of Keji Road, and to the north and west of Xinxi Road, the south of
Nenjiang Road and the east of Keji Road. The content of the Project construction is to build a
production base of solar PV industry vertical integration products with an annual capacity of 500MW
and reach a production capacity of 250MW for each of mono-silicon rod and multicrystalline ingot,
and 500MW for each of wafers, solar cells and PV modules. A “PV Integration Engineering Technology
Research Center of Jiangsu Province” backed up by Changzhou Trina Solar Energy Co., Ltd. is to be
established. The project has planned to use land in about 596 mus for construction, build an area
of 329,983 square meters of new buildings and purchase production equipment (1,064 items per set).
The total investment of the Project is USD597,900,000, of which the fixed assets investment is
USD392,940,000, and the working capital is USD204,960,000. The sources of the Project funds are as
follows: USD200,000,000 as capital funds of the Project; USD93,690,000 raised by the enterprise;
USD304,210,000 coming from the syndicated loan.

“This Agreement” refers to the Syndicated Loan Agreement for Solar PV Industry Vertical
Integration Product Project with an Annual Capacity of 500MV and any amendment and supplementation
hereof.

“Warrantors” refers to Trina Solar Limited, Gao Jifan and Wu Chunyan, who are the Shareholders
of the Borrower.

“Guaranty Contract” refers to the letter of guaranty and undertaking issued by the Warrantor
Trina Solar Limited to the Consortium in the format specified in Appendix X hereof; the letter of
guarantee issued by the Warrantors Gao Jifan and Wu Chunyan to the Consortium in the format of
Appendix XI hereof; the Maximum Amount Property Mortgage Contract executed by the Borrower and the
Agent Bank in the format specified in Appendix IX hereof and/or any guaranty document executed by
any third party with the Consortium in accordance with this Agreement for the purpose of
guaranteeing the performance hereof by the Borrower.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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“Guarantor” refers to the Warrantors, mortgagors and/or pledgors under the Guaranty Contract.

“Financing Document” refers to this Agreement and any other document designated as of such
nature by the Leading Bank, the Agent Bank and the Borrower.

“Special RMB Construction Account” refers to the RMB Account opened or designated by the
Borrower in the Agent Bank according to Article 20.11.01 hereof for the special purpose of
depositing the Borrower’s RMB self-owned funds invested in the Project and the RMB Loan Funds of
the Fixed Assets Loan granted by the Consortium.

“Special USD Construction Account” refers to the USD Account opened or designated by the
Borrower in the Agent Bank according to Article 20.11.01 hereof for the special purpose of
depositing the Borrower’s USD self-owned funds invested in the Project and the USD Loan Funds of
the Fixed Assets Loan granted by the Consortium.

“Special Construction Account” refers to Special RMB Construction Account and Special USD
Construction Account.

“Special Account for Working Capital Loan” refers to the RMB Account opened or designated by
the Borrower in the Agent Bank according to Article 20.11.03 hereof for the special purpose of
depositing the RMB Loan Funds of the Working Capital Loan granted by the Consortium.

“Special RMB Repayment Account” refers to the RMB Account opened or designated by the Borrower
in the Agent Bank according to Article 20.11.02 hereof for the special purpose of the Borrower’s
repaying the principal, interest, expenses, etc. of the RMB Loan Funds hereunder.

“Special USD Repayment Account” refers to the USD Account opened or designated by the
Borrower in the Agent Bank according to Article 20.11.02 hereof for the special purpose of the
Borrower’s repaying the principal, interest, expenses, etc. of the USD Loan Funds hereunder.

“Special Repayment Account” refers to Special RMB Repayment Account and Special USD Repayment
Account.

“Renminbi/RMB” refers to the legal currency of the People’s Republic of China.

“US Dollar/USD” refers to the legal currency of the United States of America.

“China” refers to the People’s Republic of China.

1.02 Interpretations

The headings of the clauses hereof are inserted for reading convenience only and may be
neglected when interpreting this Agreement.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

The “continuance” of one Breaching Event means that such Breaching Event has occurred and
fails to be remedied to the satisfactory of the Majority of the Lenders/all of the Lenders and has
not been waived by the Majority of the Lenders/all of the Lenders.

Any reference of “Lender” and “Agent Bank” herein shall all be construed as including any
successor and assignee who has the corresponding rights and interests with the Lenders or Agent
Bank.

For conversion between RMB and USD hereunder, the central parity quoted by the Foreign
Exchange Administration on the conversion date shall be adopted; for payment through
settlement/sale of exchange, the foreign exchange rate quoted by the Agent Bank on the payment date
shall be adopted.

Chapter II Loan

Article 2 Loan Amount

2.01 The Lenders hereby separately but not jointly agree to, according to the terms hereof and
the Committed Loan Amount as specified in Appendix I hereof, provide the Borrower with a loan of
total principal not exceeding RMB1,524,600,000 (Say: RMB One Billion Five Hundred and Twenty Four
Million Six Hundred Thousand only) and with a loan of total principal not exceeding USD80,000,000
(Say: USD Eighty Million Only), which includes:

(1) Fixed Assets Loan Amount, including a loan of total principal not exceeding
RMB1,292,000,000 (Say: RMB One Billion Two Hundred and Ninety Two Million only) and with a loan of
total principal not exceeding USD80,000,000 (Say: USD Eighty Million Only);

(2) Working Capital Loan Amount, a loan of total principal not exceeding RMB232,600,000 (Say:
RMB Two Hundred and Thirty Two Million Six Hundred Thousand only).

2.02 The obligations of each Lender hereunder are independent to each other. The failure of
any Lender to perform its obligations hereunder shall not exempt any other Lender or the Borrower
from performing their own obligations hereunder. None of the Lenders is obliged to assume any
liability for the obligations of any other party hereunder.

Article 3 Loan Term

3.01 The term of the Fixed Assets Loan hereunder is sixty (60) months, of which, the Grace
Period is eighteen (18) months, and the repayment period is forty two (42) months. The above
periods shall commence from the date when the Borrower withdraws the first Loan Fund of the Fixed
Assets Loan.

3.02 The term of the Working Capital Loan hereunder is thirty six (36) months, commencing from
the date when the Borrower withdraws the first Loan Fund of the Working Capital Loan.

Article 4 Loan Purposes

4.01 The Borrower shall use all the Fixed Assets Loan Funds hereunder for the exclusive
purpose of the Project construction, that is, the construction of the Borrower’s Solar PV Industry
Vertical Integration Product Project with an Annual Capacity of 500MV; the Working Capital Loan
shall be used for the turnover of the working capital of the Project.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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4.02 Without written consent of the Consortium, the Borrower shall not change the purposes of
the loan, including but not limited to that, the Borrower shall not use the Loan Funds for
investment in stocks or other securities, nor in any project prohibited by any law, regulation,
regulatory rules or state policies or any project not legally approved, nor in any project or for
any purpose in which the investment of bank loan is prohibited.

Chapter 3 Withdrawal

Article 5 Conditions of Precedent of Withdrawal

5.01 The Borrower shall present the Agent Bank with the following documents before the first
withdrawal of the Fixed Assets Loan:

5.01.01 The resolutions of the Board of Meeting of the Borrower in original, the content of
which shall include but not limited to: approval of the terms of Financing Documents and consent to
signing each Financing Document; authorization of one or several representatives to sign each
Financing Document to which the Borrower is a party; authorization of one or several
representatives to sign and/or deliver all documents and notices related to or under the Financing
Documents; the limit that the Disposable Committed Loan Amount borrowed by the Borrower from all
the Lenders hereunder shall not exceed the maximum borrowing amount; and the signature samples of
all authorized representatives.

5.01.02 Chairman of the Board’s Certificate issued in the format specified in Appendix II
hereof.

5.01.03 The power of attorney issued by the legal representative of the Borrower entrusting
other persons to handle withdrawal, repayment and other matters hereunder.

5.01.04 The Letter of Guarantee and Undertaking issued by the Warrantor Trina Solar Limited in
the format specified in Appendix X hereof; the enterprise legal person qualification certificate of
the Warrantor Trina Solar Limited (including but not limited to Industrial and Commercial
registration certificate, articles of association, identity certificates and signature samples of
the Legal Representative and the Directors); the resolution of the Board of Directors of the
Warrantor Trina Solar Limited approving for the guaranty hereunder; the legal documents certifying
the legitimacy and validity of the materials, guaranties and promises of the Guarantor issued by a
lawyer approved by the Agent Bank; and certificate documents certifying the guaranty of the
Guarantors is in compliance with the foreign debt regulations of the Foreign Exchange
Administration.

5.01.05 The Letter of Guarantee signed by the Warrantors Gao Jifan and Wu Chunyan in the
format specified in Appendix XI hereof and related identity certificates and marriage status
certificates.

5.01.06 The original Maximum Amount Property Mortgage Contract executed by the Borrower and
the Agent Bank in the format of Appendix IX hereof with respect to the State-owned Land Use Right
owned by the Borrower (State-owned Land Use Right Certificate Reference: Chang Guo Yong (2008) No.
0247406 and Chang Guo Yong (2008) No. 0262411) and other title certificates in originals issued
upon completion of the mortgage registration.

5.01.07 The certificates evidencing that registered capital fund in USD200,000,000 for the
Borrower’s Project has been fully paid.

5.01.08 The Expenses Letter referred to in Article 12.01 hereof issued by the Leading Bank and
confirmed by the Borrower and certificates evidencing the payment of related expenses payable.

5.01.09 The copies of the following documents verified as true (by affixing with the common
seal of the Borrower):

(i) The current Articles of Association of the Borrower (including any change and supplement
thereof);

(ii) The current valid Enterprise Legal Person Business License and Organization Code
Certificate of the Borrower;

(iii) The Capital Verification Report issued by a Chinese registered accounting firm
confirming that the Shareholders of the Borrower have fully paid the registered capital of the
Borrower on time;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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(iv) The name list of the current directors and legal representative of the Borrower and their
signature samples as well as samples of common seal and seals, and identity certificates of each
director and legal representative as well as the authorized signatory of the board of directors;

(v) The current valid taxation registration certificate (copy) of the Borrower;

(vi) The current valid loan card of the Borrower issued by the People’s Bank of China;

(vii) The certificate evidencing that the accounts opening required hereunder has been
completed according to this Agreement.

In case of any change or update of such documents during the valid term hereof, the Borrower
shall, within seven (7) Business Days upon the occurrence of such change, file the new documents in
copy or in original verified as true and affixed with the common seal of the Borrower to the Agent
Bank for record.

5.01.10 The Funds Supervision Agreement executed by the Borrower and the Agent Bank in the
format specified in Appendix XII hereof.

5.01.11 The legal opinion issued by the lawyers employed by the Leading Bank on behalf of the
Consortium with respect to the legitimacy and validity of the Financing Documents.

5.01.12 The various examination and approval documents related to the Project.

5.01.13 The certificates evidencing the match between the investment of Loan Funds by the
Borrower and the Project construction schedule.

5.01.14 Other documents required by the Consortium.

5.02 The Borrower shall present the following documents before submitting the second and
following Withdrawal Notices for Fixed Assets Loan to the Agent Bank:

5.02.01 The certificates evidencing the match between the investment of Loan Funds by the
Borrower and the Project construction schedule.

5.02.02 Other documents required by the Consortium.

5.03 The Borrower shall present the following documents before submitting the first Withdrawal
Notices for Working Capital Loan to the Agent Bank:

5.03.01 The Agent Bank has received all documents as specified in Article 5.01 hereof;

5.03.02 Certificates evidencing the partial or full completion of the Project to the
satisfaction of the Consortium;

5.03.03 Certificates evidencing that all working capital gap before completion of the Project
has been filled by the Borrower through self-raising to the proportion of completion;

5.03.04 The certificates evidencing the match between the investment of Working Capital Loan
Funds by the Borrower and the requirement of capital after the operation of the Project;

5.03.05 Other documents required by the Consortium.

Article 6 Withdrawal

6.01 Unless otherwise agreed by all the Lenders in writing, the Borrower may issue the first
Withdrawal Notice for Fixed Assets Loan only upon confirmation by the Agent Bank in writing of
receipt of all documents as specified in Article 5.01 hereof; and the Borrower may issue the first
Withdrawal Notice for Working Capital Loan only upon confirmation by the Agent Bank in writing of
receipt of all documents as specified in Article 5.03 hereof. In case no written confirmation or
any dispute is made within five (5) Business Days upon receipt by the Agent Bank of the above
documents, the Agent Bank shall be deemed as having confirmed the above documents and the Agent
Bank shall present all received documents to each Lender before first withdrawal by the Borrower.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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6.02 Under the RMB Loan Amount, the Borrower shall withdraw the Loan Funds in RMB, and under
the USD Loan Amount, the Borrower shall withdraw the Loan Funds in USD.

6.03 Unless otherwise agreed herein, the Loan Funds shall be granted to the Borrower through
the Agent Bank upon satisfaction of the following conditions:

6.03.01 The Agent Bank, at or before 11:00 a.m. of the fifth (5th) Business Day
before the Withdrawal Date specified in one Withdrawal Notice, receives one Withdrawal Notice
issued by the Borrower for such Loan Funds in the format of Appendix III hereof and funds
application background materials such as Project Contraction Contract, Procurement Contract and
Invoices, etc.

6.03.02 The Borrower has provided the Agent Bank with the original Maximum Amount Property
Mortgage Contract executed by the Borrower and the Agent Bank in the format of Appendix IX hereof
with respect to the State-owned Land Use Right, buildings or equipments, etc. owned by the Borrower
and other title certificates in original issued upon completion of the mortgage registration;

6.03.03 The Borrower has provided the Agent Bank with written certificates evidencing that as
of the Withdrawal Date, whether the mortgage is subject to any sealing up, distrainment, freezing
or any other situation which might affect the realization of the mortgage right of the Lenders;

6.03.04 The Agent Bank shall examine and approve the Withdrawal Notice within two (2) Business
Days and confirm that the Borrower is in compliance with the withdrawal conditions (or notify the
Borrower with any incompliance thereof);

6.03.05 According to the bona fide opinions of the Agent Bank, as of the Withdrawal Notice
Date and the Withdrawal Date specified in the Withdrawal Notice:

(1) All representations and warranties made by the Borrower in Article 19 hereof are true and
correct in all material aspects against the facts and circumstances of the Withdrawal Notice Date
and the Withdrawal Date;

(2) No Breaching Event occurred and is still continuing.

6.04 Besides the requirements as specified in the above Article 6.03, the granting of each
Loan Fund under the Loan Amount shall further satisfy the following conditions:

6.04.01 The Withdrawal Date specified in the Withdrawal Notice shall be a Business Day within
the Withdrawal Period;

6.04.02 The Loan Funds balance required in the Withdrawal Notice (except in the case of the
last withdrawal) must:

(1) In case the Withdrawal Notice requires withdrawal of the Loan Funds of the Fixed Assets
Loan in RMB, such funds shall not exceed the Disposable RMB Loan Balance of the Fixed Assets Loan;
and in the case of withdrawal of the Loan Funds of the Working Capital Loan in RMB, such funds
shall not exceed the Disposable RMB Loan Balance of the Working Capital Loan; provided that the
amount of such withdrawal shall equal to or exceed RMB100,000,000 (Say: RMB One Hundred Million)
and must be integral multiples of RMB100,000,000 (Say: RMB One Hundred Million).

(2) In case the Withdrawal Notice requires withdrawal of the Loan Funds in USD, such funds
shall not exceed the Disposable USD Loan Amount; provided that the amount of such withdrawal shall
equal to or exceed USD1,000,000 (Say: USD One Million) and must be integral multiples of
USD1,000,000 (Say: USD One Million).

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

6.05 Subject to satisfaction of Article 6, the Agent Bank shall, within two (2) Business Days
upon receipt of the Withdrawal Notice for Loan Funds of Fixed Assets Loan, examine such Withdrawal
Notice, and if the withdrawal conditions are not met, the Agent Bank shall notify the Borrower with
the reasons thereof; otherwise, the Agent Bank shall, on the same day of approval of the Withdrawal
Notice, notify each Lender to participate in extension of Loan Funds and of the Loan Amount of each
Lender by Loan Participation Notice in the format specified in Appendix IV hereof, and provide each
Lender with the copy of the Withdrawal Notice. The RMB loan participation amount of each Lender in
the Fixed Assets Loan shall be consistent with the proportion of its Disposable RMB Committed
Amount in the Fixed Assets Loan to all the Lenders’ Disposable RMB Committed Amount in the Fixed
Assets Loan; the USD loan participation amount of each Lender in the Fixed Assets Loan shall also
be consistent with the proportion of its Disposable USD Committed Amount in the Fixed Assets Loan
to all the Lenders’ Disposable USD Committed Amount in the Fixed Assets Loan; the loan
participation amount of each Lender in the Working Capital Loan shall be consistent with the
proportion of its Disposable Committed Amount in the Working Capital Loan to all the Lenders’
Disposable Committed Amount in the Working Capital Loan. Each Lender shall, according to Article
14.01 hereof, remit the Loan Funds to the bank account designated by the Agent Bank.

6.06 The Withdrawal Period of Fixed Assets Loan hereunder shall be the period commencing from
the effective date hereof and ending on the earlier date of December 31, 2009 or the date when the
Disposable Fixed Assets Loan Amount becomes zero.

6.07 In case the actual withdrawal arrangement of the Borrower and the withdrawal schedule
referred to in Article 6.06 hereof changes during the Withdrawal Period, the Borrower shall present
the new withdrawal plan and the explanations thereof in fifteen (15) days’ advance. The Agent Bank
shall verify such withdrawal plan and the related adjustment or change documents to confirm whether
the project construction schedule is followed, and if any inconsistency is found, the Agent Bank
may require the Borrower to make necessary adjustments; otherwise, the Agent Bank shall deliver the
copies of related documents to each Lender within five (5) Business Days upon receipt thereof.

6.08 The Withdrawal Period of the Working Capital Loan shall be six (6) months commencing from
the date when the Project is completed and starts normal operation. The Borrower may make
withdrawal in installments during the Withdrawal Period.

6.09 Subject to satisfaction of requirements of Article 6, the Borrower may present a written
Withdrawal Notice to the Agent Bank for examination and approval by the Agent Bank within two (2)
Business Days upon receipt thereof. The Agent Bank shall, on the same day of approval of the
Withdrawal Notice of Working Capital Loan, notify each Lender to participate in extension of Loan
Funds and of the Loan Amount of each Lender in the form of Loan Participation Notice attached
hereto as Appendix IV, and provide each Lender with the copy of the Withdrawal Notice. Each Lender
shall, according to Article 14.01 hereof, remit the Loan Funds to the bank account designated by
the Agent Bank.

6.10 Any Withdrawal Notice signed and issued by the Borrower shall be irrevocable and without
the approval of all the Lenders, the Borrower shall not change the already presented Withdrawal
Notice. To the extent permitted by this Agreement hereof, the Borrower has the obligation to make
withdrawal according to the Withdrawal Notice; otherwise, the Borrower shall, at the request of the
Agent Bank, provide the Lenders with compensations against the actual cost and/or loss based on
0.02% of the amount not yet withdrawn.

6.11 The Borrower may extend the Withdrawal Period with the consent of the Consortium. Upon
expiration of each Withdrawal Period hereunder, any Loan Amount that the Borrower fails to withdraw
shall be automatically cancelled.

 

11

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Chapter IV Repayment, Repayment in Advance and Cancellation

Article 7 Repayment

7.01 The repayment period of Fixed Assets Loan hereunder is forty two (42) months. The
Borrower shall repay the Loan Balance according to the following installments, date and amount with
all disposable cash flow of its company (including but not limited to the cash flow produced by
operation of original assets besides the profit, depreciation and amortization of the Project):

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Repayment Amount	 
	Repayment	 	 	 	RMB	 	 	USD	 
	Installment	 	Repayment Date	 	(in Ten Thousands)	 	 	(in Ten Thousands)	 
	1	 	The day immediately
before the date which
is twenty four (24)
months after the
First Withdrawal
Date
	 	 	14074	 	 	 	871	 
	2	 	The day immediately
before the date which
is 30 months after
the First Withdrawal
Date
	 	 	14074	 	 	 	871	 
	3	 	The day immediately
before the date which
is 36 months after
the First Withdrawal
Date
	 	 	16667	 	 	 	1226	 
	4	 	The day immediately
before the date which
is 42 months after
the First Withdrawal
Date
	 	 	16667	 	 	 	1226	 
	5	 	The day immediately
before the date which
is 48 months after
the First Withdrawal
Date
	 	 	24630	 	 	 	1525	 
	6	 	The day immediately
before the date which
is 54 months after
the First Withdrawal
Date
	 	 	24630	 	 	 	1525	 
	7	 	The day immediately
before the date which
is 60 months after
the First Withdrawal
Date
	 	 	18458	 	 	 	756	 
	 	 	 	 	 	 	 	 	 
	Total	 	—	 	 	129200	 	 	 	8,000	 
	 	 	 	 	 	 	 	 	 

	 	 	 
	Note:	 	  the “First Withdrawal Date” mentioned above refers to the first Withdrawal Date of the
Fixed Assets Loan.

7.02 The Borrower shall repay the Loan Balance of the Working Capital Loan according to the
following installments, date and amount:

	 	 	 	 	 	 	 
	Repayment	 	 	 	Repayment Amount	 
	Installment	 	Repayment Date	 	(in Ten Thousands RMB)	 
	1	 	The day immediately
before the date which
is 12 months after the
First Withdrawal Date
	 	 	7461	 
	2	 	The day immediately
before the date which
is 24 months after the
First Withdrawal Date
	 	 	9951	 
	3	 	The day immediately
before the date which
is 36 months after the
First Withdrawal Date
	 	 	5848	 
	 	 	 	 	 	 
	 	 	Total
	 	 	23260	 
	 	 	 	 	 	 

	 	 	 
	Note:	 	 the “First Withdrawal Date” mentioned above refers to the first Withdrawal Date of the
Working Capital Loan.

7.03 The Borrower shall repay all Loan Balance and all accrued but not paid interest, compound
interest, penalty interest and other related expenses before the Repayment Deadline.

7.04 The Borrower shall not re-borrow any part of repaid Fixed Assets Loan or Working Capital
Loan.

7.05 In case the Borrower needs to change the above repayment schedule, a written application
shall be made to the Agent Bank in three months’ advance, and the change may be made only upon
unanimous approval of all the Lenders.

7.06 Where the Borrower withdraws insufficient amount, the Agent Bank may adjust the repayment
schedule in proportion to the actual withdrawal amount and notify such adjustment to the Lenders
and the Borrower.

 

12

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 8 Repayment in Advance

8.01 The Borrower shall present the Agent Bank with Notice of Payment in Advance in the form
of Appendix V hereof at least sixty (60) Business Days before the nearest pre-determined Repayment
Date, and may repay the Loan Balance in whole or in part with the written consent of the
Consortium; provided that the pre-determined Repayment Date shall be a interest settlement date,
and except for repayment of the Loan Balance in a lump sum, the amount of the repayment in advance
shall not be lower than RMB50,000,000 (Say: RMB Fifty Million) or equivalent, and must be integrate
multiples of RMB50,000,000 (Say: RMB Fifty Million) or equivalent.

Any notice of repayment in advance signed and issued by the Borrower shall specify the date
and amount of repayment in advance and the Borrower has the obligation to make repayment in advance
according to the date and amount specified in such notice which shall be unchangeable and
irrevocable. In the case that the Borrower fails to make payment in advance according to the notice
of payment in advance presented to the Agent Bank, the Borrower shall, at the request of the Agent
Bank, provide the Lenders with compensations against the actual cost and/or loss based on 0.02% of
the amount not repaid.

8.02 Where the Borrower repays the Fixed Assets Loan in advance according to Article 8.01
hereof, the Loan Balance shall be deemed repaid at the reverse order of the Repayment Date agreed
in Article 7.01 hereof, the repayment schedule before that shall not be affected, and the loans of
the Lenders shall be satisfied in proportion to their Loan Balance in the Fixed Assets Loan at the
date of repayment in advance. Where the Borrower repays the Working Capital Loan in advance
according to Article 8.01 hereof, the Loan Balance shall be deemed repaid at the reverse order of
the Repayment Date agreed in Article 7.02 hereof, the repayment schedule before that shall not be
affected, and the loans of the Lenders shall be satisfied in proportion to their Loan Balance in
the Working Capital Loan at the date of repayment in advance. The Borrower shall not be held liable
for breach of contract due to repayment in advance according to the above provisions.

8.03 The Borrower shall not re-borrow any part of Fixed Assets Loan or Working Capital Loan
repaid in advance according to this Agreement.

8.04 Where the Project of the Borrower realizes an operation which obviously goes beyond the
expectation of the feasibility study, and the Borrower realizes cash surplus with an amount of more
than RMB200,000,000, the Consortium may request the Borrower to make repayment in advance.

Article 9 Cancellation

9.01 Where the Borrower has any Breach Event as specified in Article 22.01 hereof, the Lenders
may cancel all un-extended Loan Amount according to this Agreement.

9.02 The Borrower may, before expiration of the Withdrawal Period, apply to the Agent Bank in
writing for cancellation of the Committed Loan Amount of the Lenders in whole or in part, and the
cancellation may be made with consent of the Consortium. Any cancelled Committed Loan Amount shall
not be recovered in whole or in part. The cancellation notice is irrevocable. The cancellation of
Committed Loan Amount shall become effective as of the date specified in the cancellation notice.
As of the effective date of the cancellation, the Committed Loan Amount of each Lender shall be
decreased by the proportion of its Committed Loan Amount to all Lenders’ Committed Loan Amount.

Chapter V Borrowing Cost and Expenses

Article 10 Interest Rate

10.01 The loan Interest Rate applicable to each Loan Fund of the Fixed Assets Loan hereunder
shall be as follows:

(1) with respect to each Loan Fund withdrawn in RMB, the Interest Rate shall be determined by
the base Interest Rate for 3-5 years RMB loan at the same level quoted by the People’s Bank plus
ten percent (10%). The Interest Rate shall be re-fixed every six (6) months after the Withdrawal
Date of the first RMB Loan Fund of the Fixed Assets Loan.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

(2) with respect to each Loan Fund withdrawn in US, the Interest Rate shall be determined by
six (6) months’ LIBOR plus 300BP. The Interest Rate shall be re-fixed every six (6) months after
the Withdrawal Date of the first USD Loan Fund of the Fixed Assets Loan.

10.02 With respect to each RMB Loan Fund of Working Capital Loan, the Interest Rate shall be
determined by the base Interest Rate for 1-3 years’ RMB loan at the same level quoted by the
People’s Bank plus ten percent (10%), and the Interest Rate shall be re-fixed every three (3)
months after the Withdrawal Date of the first RMB Loan Fund of the Working Capital Loan.

10.03 With respect to each RMB Loan Fund of Fixed Assets Loan, the Interest Rate shall be
re-fixed every six (6) months after the Withdrawal Date of the first RMB Loan Fund; with respect to
each USD Loan Fund of Fixed Assets Loan, the Interest Rate shall be re-fixed every six (6) months
after the Withdrawal Date of the first USD Loan Fund; with respect to each RMB Loan Fund of Working
Capital Loan, the Interest Rate shall be re-fixed every three (3) months after the Withdrawal Date
of the first RMB Loan Fund. The re-fixing date shall be the day of the re-fixing month
corresponding to the actual Withdrawal Date, and if there is no such corresponding day, the last
day of such month shall be the Interest re-fixing day.

(1) With respect to each Loan Fund of Fixed Assets Loan, the first installment of RMB Interest
Rate shall be determined by the base Interest Rate for 3-5 years RMB loan at the same level quoted
by the People’s Bank at the actual Withdrawal Date plus ten percent (10%).

(2) Upon expiration of each fluctuation cycle, the RMB Interest Rate for each Loan Fund of
Fixed Assets Loan shall be determined by the base Interest Rate for 3-5 years RMB loan at the same
level quoted by the People’s Bank at the re-fixing date plus ten percent (10%), which shall be
applicable to the next fluctuation cycle.

(3) With respect to each Loan Fund of Working Capital Loan, the first installment of RMB
Interest Rate shall be determined by the base Interest Rate for 1-3 years’ RMB loan at the same
level quoted by the People’s Bank at the actual Withdrawal Date plus ten percent (10%).

(4) Upon expiration of each fluctuation cycle, the RMB Interest Rate for each Loan Fund of
Working Capital Loan shall be determined by the base Interest Rate for 1-3 years’ RMB loan at the
same level quoted by the People’s Bank at the re-fixing date plus ten percent (10%), which shall be
applicable to the next fluctuation cycle.

10.04 Where the People’s Bank liberalizes the control over the RMB base Interest Rate:

(1) With unanimous approval of all the Lenders, the Borrower and the Lenders shall, in the
form of supplementary agreement, determine the new RMB loan Interest Rate for Fixed Assets Loan
according to the decision of the People’s Bank on liberalizing the control over the RMB base
Interest Rate, the then nationally accepted base Interest Rate for 3-5 or more years’ RMB loan for
similar projects as well as related international practices.

(2) With unanimous approval of all the Lenders, the Borrower and the Lenders shall, in the
form of supplementary agreement, determine the new RMB loan Interest Rate for Working Capital Loan
according to the decision of the People’s Bank on liberalizing the control over the RMB base
Interest Rate, the then nationally accepted base Interest Rate for 1-3 or more years’ RMB loan for
similar projects as well as related international practices.

(3) For the period after the liberalization of the base Interest Rate and before that the
Borrower and all the Lenders reach agreement with respect to the new RMB loan Interest Rate
according to Articles 10.04(1) and 10.04(2) hereof, the applicable Interest Rate shall be the last
base Interest Rate quoted by the People’s Bank for RMB loan at the same level before liberalization
of the base Interest Rate plus ten percent (10%).

 

14

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 11 Interest, Interest Accrual and Penalty

11.01 The value date of each Loan Fund shall be the Withdrawal Date of such Loan Fund. For
loan Interest Rate hereunder, 360 days/year shall be taken as the base number; the loan interest
shall be calculated since the Withdrawal Date and based on the actual Loan Balance and the actual
possession days. Interest calculation formula: Interest = Principle × Actual Days × Daily Interest
Rate (Daily Interest Rate =  Annual Interest Rate/360).

11.02 For each RMB Loan Fund hereunder, each Interest Period shall be three (3) months; for
each USD Loan Fund hereunder, each Interest Period shall be six (6) months; provided that:

(1) The first Interest Period of each Loan Fund shall commence from the first Withdrawal Date
of such loan and end on the first nearest Interest Settlement Date; the following Interest Period
of each Loan Fund shall commence from the day immediately after the Interest Settlement Date of the
preceding Interest Period and end on the Interest Settlement Date of the next Interest Period.

(2) Notwithstanding the forgoing provisions, none of the Interest Period of Fixed Assets Loan
shall go beyond the Repayment Deadline of the Fixed Assets Loan. In case any Interest Period of
Fixed Assets Loan goes beyond the Repayment Deadline of the Fixed Assets Loan, such Repayment
Deadline or the actual Repayment Date shall be deemed the expiration date of the Interest Period of
the Fixed Assets Loan.

(3) Notwithstanding the forgoing provisions, none of the Interest Period of Working Capital
Loan shall go beyond the Repayment Deadline of the Working Capital Loan. In case any Interest
Period of Working Capital Loan goes beyond the Repayment Deadline of the Working Capital Loan, such
Repayment Deadline or the actual Repayment Date shall be deemed the expiration date of the Interest
Period of the Working Capital Loan.

11.03 Unless otherwise agreed herein, the Borrower shall pay all interest, compound interest
and/or penalty interest accrued by each Loan Fund on the Business Day immediately after each
Interest Settlement Date. Upon expiration of each Loan Fund, the interest thereof shall be fully
repaid with the principal.

11.04 Penalty interest and compound interest

(1) Where the Borrower fails to repay any part of Loan Fund at the Repayment Date agreed
herein, penalty interest shall be calculated for the delayed amount since the such Repayment Date
at the delay penalty Interest Rate, until the fully repayment of the Loan Fund and the loan
interest thereof. With respect to each Loan Fund, the delay penalty Interest Rate shall be one
hundred and forty percent (140%) of the loan Interest Rate agreed herein.

(2) Where the Borrower fails to apply the Loan Funds to the purposes agreed herein, penalty
interest shall be calculated for the appropriated amount since the appropriation date at the
appropriation penalty Interest Rate; with respect to each Loan Fund, the appropriation penalty
Interest Rate shall be one hundred and seventy percent (170%) of the loan Interest Rate agreed
herein.

(3) For delayed and appropriated Loan Funds, the penalty interest shall be calculated at the
appropriation penalty Interest Rate.

(4) For loan interest which the Borrower fails to pay on time, the compound interest shall be
calculated at the delay penalty Interest Rate agreed herein.

(5) Where any loan Interest Rate adjustment agreed herein occurs during calculation of penalty
interest and compound interest, the penalty interest and compound interest since the adjustment
date shall be calculated at the new loan Interest Rate.

11.05 Where the People’s Bank adjusts the interest calculation regulations, the Lenders shall
implement such new regulations and no approval of the Borrower is needed.

 

15

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 12 Fees and Taxes

12.01 The Borrower shall pay all items of Consortium fees to the Consortium pursuant to the
“Letter of Fees” which has been confirmed jointly by the Borrower and the Leading Bank.

12.02 All parties to this Agreement shall respectively bear all present and future taxes and
fees under this Agreement and any document mentioned herein.

Article 13 Increased Costs

13.01 If the Lenders’ costs are increased due to the change of any law, regulation or policy
of China, and such law, regulation or policy of China specifies that such increased costs shall be
borne by the Borrower, the Borrower and the Lenders shall raise the lending rate by concluding a
supplementary agreement, or the Borrower shall directly supplement the aforesaid increased costs to
the Lenders.

Chapter VI Payment

Article 14 Payment of the Lenders

14.01 On the premise of other agreements in this Agreement, each Lender shall, by 11:00 AM
(Beijing time) in the morning of each Withdrawal Date under this Agreement, remit the Loan Funds
grantable hereunder in the following methods into the Agent Bank’s designated account:

(1) Paying the share of Loan Funds withdrawn in RMB to the Agent Bank’s designated RMB
account;

(2) Paying the share of Loan Funds withdrawn in USD to the Agent Bank’s designated USD
account.

14.02 The allotment of funds between the Lenders and the Agent Bank shall all be fulfilled via
the above-mentioned accounts. The Agent Bank shall, by 16:00 (Beijing time) on the Withdrawal Date
of relevant Loan Funds, transfer its actually received Loan Funds into the Borrower’s Special RMB
Account for Construction, Special USD Account for Construction and Special Account for Working
Capital Loans in the following methods:

(1) Paying the Loan Funds of corresponding Fixed-Asset Loans it has actually received under
Article 14.01 (1) of this Agreement to the Special RMB Account for Construction.

(2) Paying the corresponding Loan Funds it has actually received under Article 14.01 (2) of
this Agreement to the Special USD Account for Construction.

(3) Paying the Loan Funds of corresponding Working Capital Loans it has actually received
under Article 14.01 (1) of this Agreement to the Special Account for Working Capital Loans.

Article 15 Payment of the Borrower

15.01 The Borrower shall, pursuant to Article 20.11.02 of this Agreement, open a Special RMB
Account for Repayment of Debts and a Special USD Account for Repayment of Debts in the Agent Bank
(hereinafter referred to as the “Special Account for Repayment of Debts”). the Borrower shall,
three (3) Business Days prior to the Interest Settlement Date, remit the funds of RMB lending
interest into the Special RMB Account for Repayment of Debts and the funds of USD lending interest
into the Special USD Account for Repayment of Debts; the Borrower shall, three (3) Business Days
prior to the Repayment Date, remit the funds for repayment of the principal of RMB loans along with
the final sum of interest into the Special RMB Account for Repayment of Debts, and also remit the
funds for repayment of the principal of USD loans along with the final sum of interest into the
Special USD Account for Repayment of Debts; the Borrower shall, one (1) Business Day prior to the
date of payment of other amounts payable, remit the relevant amounts into the Special RMB Account
for Repayment of Debts and/or the Special USD Account for Repayment of Debts.

 

16

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

15.02 The Borrower hereby irrevocably authorizes the Agent Bank to directly withhold the Borrower’s
due and payable principal, interest, compound interest and penalty interest under this Agreement
from the Special Account for Repayment of Debts. If the funds in the Special Account for Repayment
of Debts are insufficient, the Borrower hereby irrevocably authorizes the Agent Bank and each
Lender to directly withhold the Borrower’s due and payable principal, interest, compound interest
and penalty interest under this Agreement from the various accounts opened by the Borrower in the
Agent Bank, each Lender and its branches.

15.03 The Agent Bank shall, by 14:00 in the afternoon of the Date of Repayment of the
principal of loans, by 14:00 in the afternoon of the next Business Day following the Interest
Settlement Date or by 14:00 in the afternoon of the date of payment of other amount payable, remit
the aforesaid withheld amounts in the sequence and at the proportion as agreed upon in Article
16.04 of this Agreement into the bank account designated by each Lender. The Agent Bank shall
timely serve the withholding slip of the Agent Bank to the Borrower and each Lender.

Article 16 Payment Provisions

16.01 The Agent Bank shall not be obligated to prepay any money on behalf any party to this
Agreement.

The Agent Bank shall, ten (10) Business Days prior to the date when the Borrower ought to pay
any due amount to the Leading Bank, the Co-Leading Bank, the Agent Bank or any Lender under this
Agreement, send the Notice for Repayment to the Borrower and the Notice for Payment to the Lender.
However, the Agent Bank’s sending the Notice for Repayment to the Borrower shall not constitute the
condition precedent for the Borrower to pay any due amount. Even if the Agent Bank fails to send
the Notice for Repayment, the Borrower’s obligation to pay any due amount pursuant to this
Agreement shall not be exempted or affected, and the Borrower shall still timely repay the
principal, interest and relevant fees.

Where any of the Lenders has any objection to the amount of current sum of money stated on the
Notice for Payment sent by the Agent Bank pursuant to this Agreement, it shall, within three (3)
Business Days after receipt of the Notice for Payment, raise the written objection to the Agent
Bank.

16.02 Where the date on which a sum of money is payable under this Agreement is not a Business
Day, such payment shall be advanced to the previous Business Day.

16.03 The Borrower shall pay any due amount payable under this Agreement in the same currency
of the principal of the loans. If the currency is different, it shall be dealt with according to
relevant provisions of the Agent Bank on conversion of foreign exchange.

16.04 Except for the payment made by the Borrower under Article 31.01 of this Agreement or
unless otherwise agreed upon in this Agreement, any money received by the Agent Bank from the
Borrower shall be distributed in the following sequence:

16.04.1 to pay the Lenders the Borrower’s any fee due and but unpaid under this Agreement at
the proportion of the Loan Funds granted by each Lender but not yet repaid among the Loan Balance;

16.04.2 to pay the Lenders the Borrower’s any accrued interest due and unpaid under this
Agreement (including but not limited to any interest, compound interest and penalty interest) at
the respective proportions of the Fixed-Asset RMB Loan Funds/Fixed-Asset USD Loan Funds/Working
Capital RMB Loan Funds granted by each Lender but not yet repaid among the Balance of Fixed-Asset
RMB Loans/Balance of Fixed-Asset USD Loans/Balance of Working Capital RMB Loans;

16.04.3 to pay the Lenders the Borrower’s any principal due and unpaid under this Agreement at
the respective proportions of the Fixed-Asset RMB Loan Funds/Fixed-Asset USD Loan Funds/Working
Capital RMB Loan Funds granted by each Lender but not yet repaid among the Balance of Fixed-Asset
RMB Loans/Balance of Fixed- Asset USD Loans / Balance of Working Capital RMB Loans.

 

17

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

16.05 After the occurrence of Breaching Events, any money received by the Agent Bank form the
Borrower shall be paid to each Lender at the proportion of the total sum of the Fixed-Asset RMB
Loan Funds, Fixed-Asset USD Loan Funds and Working Capital RMB Loan Funds granted by each Lender
but not yet repaid (depending on the actual grant of loans) among the total sum of the Balance of
Fixed-Asset RMB Loans, Balance of Fixed-Asset USD Loans and Balance of Working Capital RMB Loans.

16.06 No payment made by the Borrower under this Agreement shall be offset or counterclaimed
in calculation or payment in any way or be discounted in any way due to the offset or counterclaim.

16.07 For the purpose of the Borrower’s project construction, when the project construction
expenditures are paid from the Special Account for Construction, the single sum of Loan Funds more
than an equivalent value of RMB five million (RMB 5,000,000) shall be paid in the method of the
Agent Bank’s entrusted payment. The Agent Bank’s entrusted payment means that the Agent Bank pays
the Loan Funds to the Borrower’s counter-party that meets the purposes agreed upon in the relevant
project contracts upon the Borrower’s application for withdrawal and entrustment for payment.

16.08 Where the method of the Agent Bank’s entrusted payment is adopted, the Agent Bank shall,
before the Loan Funds are granted, check whether the Borrower’s relevant transaction information
meets the conditions agreed upon in the relevant project contract. The Agent Bank may, when
necessary, require the Borrower, the independent intermediary institution and the contractor, etc.
to jointly inspect the equipment building or project construction progress, and shall pay the Loan
Funds on the basis of the jointly issued slip that meets the conditions agreed upon in the relevant
project contract. After being checked and approved by the Agent Bank, the Loan Funds shall be paid
to the Borrower’s counter-party via the Special Account for Construction /Special Account for
Working Capital Loans, and the relevant records on recognition of the details shall be kept well.

16.09 When the Borrower is in any of the following circumstances, the Agent Bank shall have
the right to and ought to, according to the resolution of the meeting of the Consortium, stop
granting and paying the Loan Funds:

	 	(1)	 	Its credit conditions are decreasing;

	 
	 	(2)	 	It fails to pay the Loan
Funds pursuant to this Agreement or the fund supervision agreement;

	 
	 	(3)	 	The Project progress lags behind the fund use progress;

	 
	 	(4)	 	It evades the Agent Bank’s entrusted payment by way of breaking up the whole into parts;

	 
	 	(5)	 	Other circumstances agreed upon in this Agreement.

Chapter VII Guaranty

Article 17 Guaranty in the Form of Suretyship

17.01 Trina Solar Limited, the Guarantor, shall provide the guaranty of joint and several
liabilities for the Borrower to timely and fully repay the principal, interest and relevant fees of
the Loan Balance under this Agreement. Trina Solar Limited shall, in the format set forth in
Appendix X of this Agreement, issue a “Letter of Guarantee and Undertaking” to the Consortium, so
as to guarantee that the Borrower may timely and fully repay the principal, interest and relevant
fees of the Loan Balance under this Agreement.

17.02 Gao Jifan and Wu Chunyan, the Guarantors, shall provide the guaranty of joint and
several liabilities for the Borrower to timely and fully repay the principal, interest and relevant
fees of the Loan Balance under this Agreement. Gao Jifan and Wu Chunyan shall, in the format set
forth in Appendix XI of this Agreement, issue a “Letter of Guarantee” to the Consortium, so as to
guarantee that the Borrower may timely and fully repay the principal, interest and relevant fees of
the Loan Balance under this Agreement.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 18 Guaranty in the Form of Mortgage

18.01 For the purpose of guaranteeing to timely and fully repay the principal, interest and
relevant fees of the Loan Balance under this Agreement, the Borrower shall substantially sign a
“Maximum Amount Property Mortgage Contract” with the Agent Bank that represents all the Lenders in
the format set forth in Appendix IX of this Agreement within fifteen (15) Business Days after the
Signature Date of this Agreement by using its state-owned land use rights with the certificate
numbers of Chang Guo Yong (2008) No. 0247406 and Chang Guo Yong (2008) No. 0262411, and shall,
according to the “Property Law of the People’s Republic of China”, the “Guarantee Law of the
People’s Republic of China” as well as other relevant laws and regulations, go through relevant
procedures such as registration of mortgage jointly with the Agent Bank.

18.02 For the purpose of guaranteeing to timely and fully repay the principal, interest and
relevant fees of the Loan Balance under this Agreement, the Borrower shall, within fifteen (15)
Business Days after obtaining the right to use 323 mus of state-owned land use right, sign a
“Maximum Amount Property Mortgage Contract” with the Agent Bank that represents all the Lenders in
the format set forth in Appendix IX of this Agreement, and shall, according to the “Property Law of
the People’s Republic of China”, the “Guarantee Law of the People’s Republic of China” as well as
other relevant laws and regulations, go through relevant procedures such as registration of
mortgage jointly with the Agent Bank. Where the Borrower fails to go through the procedures within
the time limit, the Consortium shall have the right to stop granting the Loan Funds, and announce
that the Borrower is in breach. Besides, the Borrower shall pay the liquidated damages to the Agent
Bank at a daily rate of five out of ten thousand (0.5‰) of the Loan Balance, unless the delay is
caused by Consortium.

18.03 For the purpose of guaranteeing to timely and fully repay the principal, interest and
relevant fees of the Loan Balance under this Agreement, the Borrower shall, within fifteen (15)
Business Days after the properties such as the land use right, the buildings and the mechanical
equipments, etc. formed from the project construction under this Agreement conform to the
conditions for mortgage, substantially sign a “Maximum Amount Property Mortgage Contract” with the
Agent Bank that represents all the Lenders in the format set forth in Appendix IX of this
Agreement, totally mortgage the properties such as the land use right, the buildings and the
mechanical equipments, etc. formed from the project construction to all Lenders, and go through
relevant procedures such as registration of mortgage jointly with the Agent Bank according to the
“Property Law of the People’s Republic of China”, the “Guarantee Law of the People’s Republic of
China” as well as other relevant laws and regulations. If the Borrower fails to go through the
procedures within the time limit, the Consortium shall have the right to stop granting the Loan
Funds, and announce that the Borrower is in breach. Besides, the Borrower shall pay the liquidated
damages to the Agent Bank at a daily rate of five out of ten thousand (0.5‰) of the Loan Balance,
unless the delay is caused by the Consortium.

18.04 For the purpose of guaranteeing to timely and fully repay the principal, interest and
relevant fees of the Loan Balance under this Agreement, the Borrower shall, within fifteen (15)
Business Days after its existing assets (after being discharged from the existing mortgage) and its
major assets newly-added within the Validity Period of this Agreement conform to the conditions for
mortgage, substantially sign a “Maximum Amount Property Mortgage Contract” with the Agent Bank that
represents all the Lenders in the format set forth in Appendix IX of this Agreement, and go through
relevant procedures such as registration of mortgage jointly with the Agent Bank according to the
“Property Law of the People’s Republic of China”, the “Guarantee Law of the People’s Republic of
China” as well as other relevant laws and regulations. If the Borrower fails to go through the
procedures within the time limit, the Consortium shall have the right to stop granting the Loan
Funds, and announce that the Borrower is in breach. Besides, the Borrower shall pay the liquidated
damages to the Agent Bank at a daily rate of five out of ten thousand (0.5‰) of the Loan Balance,
unless the delay is caused by the Consortium.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Chapter VIII Representations, Warranties and Undertakings

Article 19 Representations and Warranties

19.01 The Borrower hereby makes the following representations and warranties to the Lender:

19.01.01 the Borrower is a limited liability company duly organized and validly existing under
the laws of China.

19.01.02 the Borrower has full capacity for rights and capacity for conducts to conduct its
business, enter into this Agreement and exercise rights and perform obligations in light hereof.

19.01.03 The internal procedure of the company needed for the Borrower to enter into this
Agreement and exercise rights and perform obligations according hereto has been completed; the
person who signs this Agreement on behalf of the Borrower is a valid authorized representative of
the Borrower and this Agreement signed by such person is binding on the Borrower.

19.01.04 The obligations of the Borrower hereunder are legitimate and valid, which are binding
on the Borrower, and may be performed according to the terms hereof.

19.01.05 The conclusion of this Agreement, exercise of rights and performance of obligations
according hereto by the Borrower do not and will not violate the following contents or conflict
with the following contents:

(1) Any agreement or contract to which the Borrower is a party or any other contract documents
that are binding on any assets of the Borrower;

(2) The Articles of Association and other fundamental corporate documents of the Borrower;

(3) Any law, regulation, judgment, award and ruling applicable to the Borrower.

19.01.06 the Borrower has obtained all authorization, consent, approval and permit required by
or necessary to the conclusion and performance of this Agreement and transactions hereunder, and
such authorization, consent, approval and permit shall be in full force and effect.

19.01.07 No breaching events of the Borrower as prescribed in Article 22.01 hereof have
happened and are continuing; and the Borrower has not caused material adverse effect on the loans
of Consortium hereunder due to serious violation of any applicable law, regulation, rule, judgment,
award or ruling.

19.01.08 The Borrower does not undergo or participate in any litigation, arbitration or other
legal proceedings with similar nature that may cause material adverse effects.

19.01.09 The Borrower does not set mortgage or pledge of any form on any assets of its
project.

19.01.10 In any judicial procedure conducted in China to which the Borrower is a party, the
Borrower or its assets will not enjoy any immunity or privilege in litigation, judgment,
enforcement, property preservation or any other legal proceedings.

19.01.11 The conclusion of this agreement, exercise of rights and performance of obligations
according hereto by the Borrower are business conducts made for its business purposes and are
totally bound by civil and commercial laws.

19.01.12 The audited accounting statements or consolidated accounting statements (if any)
submitted to the Agent Bank recently are prepared according to general accounting standards and
practices of China and fairly reflect the Borrower’s (consolidated) financial status up to the date
when such statements are issued; since the issuance of such statements, no events have occurred
that bring or may bring material adverse effects to the (consolidated) financial status of the
Borrower.

19.01.13 No person initiates any legal proceeding of closure, liquidation, rectification,
bankruptcy, dissolution or otherwise against the Borrower.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

19.02 The above representations and warranties are made by the Borrower on the Signature Date;
furthermore, on each withdrawal notice date and Withdrawal Date, the aforesaid representations and
warranties will be deemed as being repeated by the Borrower on such dates regarding the then
existing fact and situation and also deemed to be true and correct regarding the then existing
situation.

19.03 The Borrower hereby confirms that each Lender has entered into this Agreement and
performed the obligations hereunder on the basis of having complete confidence in the
aforementioned representations and warranties.

19.04 The Lender, Leading Bank, Co-leading Bank and Agent Bank hereby make the following
representations and warranties to the Borrower:

19.04.01 They are branches of financial institutions duly organized and validly existing under
the laws of China.

19.04.02 They have full capacity for rights and capacity for conducts to conduct their
business, enter into this Agreement and exercise rights and perform obligations in accordance with
this Agreement.

19.04.03 They have obtained all internal authorization, consent, approval and permit of the
bank necessary to the conclusion of this Agreement, exercise of rights and performance of
obligations in light hereof and such authority, consent, approval and permit shall be in full force
and effect. The persons who sign this Agreement on behalf of them are their valid authorized
representatives and this Agreement signed by such persons is binding on them.

19.04.04 They participate in syndicated loan arrangement according to the principle of
voluntary negotiation and voluntary subscription for loans.

19.04.05 They have jointly entered into the loan agreement with the Borrower.

Article 20 Undertakings

The Borrower undertakes to each Lender that from the Signature Date to the date when all
accrued payables of the Borrower hereunder have been totally paid off:

20.01 The Borrower shall ensure that all its obligations hereunder to each Lender shall
constitute its direct and unconditional obligations at any time.

20.02 In case of the occurrence of any of the following events, the Borrower shall give
written notice to the Agent Bank within three (3) days of such occurrence:

20.02.01 Breaching Events or potential Breaching Events as prescribed in Article 22.01;

20.02.02 Any litigation, arbitration or other legal proceedings mentioned in Article 19.01.08,
Article 19.01.10 and Article 19.01.13 hereof;

20.02.03 Significant changes to the project of the Borrower;

20.02.04 Any event that brings material adverse effect or event that will bring material
adverse effect, which has already come into the awareness of the Borrower.

20.03 In case of the occurrence of any of the following events, the Borrower shall give
written notice to the Agent Bank within three (3) days of such occurrence:

20.03.01 The Borrower undergoes contracting, leasing, merger, division, joint venture, project
transfer, reorganization, shareholding reform, application for winding-up of business for
rectification, application for bankruptcy or otherwise and such events will sufficiently impact on
the realization of creditor’s rights of the Lender;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

20.03.02 There is any change in the name, legal representative and domicile of the Borrower or
the Borrower undergoes significant accident, stopping of production, closure of business, annulment
of registration, revocation of business license; legal representative or principal engage in
illegal activities or become involved in significant litigation or arbitration; the production and
operation suffers from big difficulties and the financial situation has worsen or otherwise.

20.04 The Lender shall maintain the valid and effective existence of its enterprise status as
legal person, abide by all laws and regulations applicable to it, and pay all taxes and expenses
imposed on it by government departments.

20.05 The Lender shall not reduce its registered capital and shall ensure that its business
nature or business scope will not undergo changes that will bring material adverse effect.

If the Borrower intends to change its business scope, shareholding structure or other matters,
it must send a prior written notice to the Agent Bank and obtain the consent of the Consortium.

20.06 The connected transactions of any from or content conducted between the Borrower and its
Affiliated parties are fair and just, and the Borrower does not and shall not manipulate or
transfer profit or impair the legitimate rights and interests of the Lenders through unfair
connected transactions.

20.07 Without the prior written consent of the Majority of Lenders, the Borrower shall not
dispose of the ownership of the assets exceeding five percent (5%) of its total net asset value
through one or more or a series of transactions of contracting, leasing, selling, transfer in one
accounting year (in case there are more than one or a series of transactions, the total value shall
be computed accumulatively), except for the disposal conducted by the Borrower in normal business
activities according to the principle of fairness.

20.08 Without the prior written consent of all Lenders, the Borrower shall not take any step
to carry out merger, division, joint venture, project transfer, reorganization, shareholding
reform, application for stopping of business for rectification, closure of business, and
application for bankruptcy, liquidation, dissolution or other similar proceedings that will
sufficiently impact on the realization of the creditor’s rights of the Lenders.

20.09 The Borrower warrants that it will use the loan fund hereunder within the scope
stipulated herein and shall not, in any form, use such fund beyond the scope or appropriate the
same for other uses.

20.10 Upon the reasonable request of the Agent Bank and its five (5) days’ prior written
notice to the Borrower, under the condition that the normal operation of the Borrower is not
impacted, the personnel designated by the Agent Bank or Lenders may enter the business place of the
Borrower to examine and inspect the construction situation of the project and assets situation,
financial status as well as financial record of the Borrower. And the Borrower warrants that its
agent and/or employees will provide full and timely cooperation.

20.11 The Borrower undertakes to open or designate and operate relevant special accounts in
the Agent Bank pursuant to the following stipulations:

20.11.01 Within three (3) Business Days as of the Signature Date hereof, the Borrower shall
open or designate Special RMB Construction Account, Special USD Construction Account and Special
Account for Working Capital Loan in the Agent Bank; and the self-owned fund (the part of fund to be
invested for use) invested by the Borrower in the project construction hereunder shall be
transferred in full in the following manner to the Special RMB Construction Account and Special USD
Construction Account /Special Account for Working Capital Loan, except as otherwise provided by
laws and regulations.

(1) Where the self-owned fund for the project construction is RMB, such fund shall be
transferred in full into Special RMB Construction Account/Special Account for Working Capital Loan;

(2) Where the self-owned fund for the project construction is USD, such fund shall be
transferred in full into Special USD Construction Account.

20.11.02 Within three (3) Business Days as of the Signature Date hereof, the Borrower shall
open or designate Special RMB Repayment Account and Special USD Repayment Account in the Agent
Bank.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

20.11.03 Within three (3) Business Days as of the Signature Date hereof, the Borrower shall
open or designate Special Account for Working Capital Loan in the Agent Bank.

20.12 After the Signature Date of this Agreement, the Borrower shall choose Lenders Consortium
for various financial businesses needed to be handled due to the project. Regarding other financial
businesses, the Borrower shall give preference to Lenders Consortium under the same market
conditions. The Borrower may handle financial business with other financial institutions outside
the Consortium only if the following conditions are satisfied:

20.12.01 The financial institutions outside the Consortium can provide financial products and
services needed by the Borrower that cannot be provided by banks of the Consortium, provided that
such financial products and services needed by the Borrower may not bring material risks or adverse
effects to the existing loans of the Consortium;

20.12.02 The prices of services provided by each Lender within the Consortium exceed normal
reasonable scope.

20.13 The Borrower shall not, before accrued payables are paid off and/or under any
circumstance a Breaching Event persists, declare or make any profit distribution;

20.14 The Borrower shall, within three (3) Business Days after the Signature Date of this
Agreement, provide the Agent Bank with the assets pledge and guarantee as well as other guarantee
information provided to other people or entities up to the Signature Date of this Agreement;
without the prior written consent of the Consortium, the Borrower shall not mortgage or pledge its
assets to a third party or provide guarantee to other people or entities.

20.15 To make a single external investment equivalent to over RMB fifty million (RMB
50,000,000) or one exceeding five percent (5%) of the recently audited net asset value of the
Borrower, the Borrower shall obtain the prior written consent of the Consortium.

20.16 Where the Borrower makes new financing after the Signature Date of this Agreement, it
shall obtain the prior written consent of the Consortium.

20.17 The international clearance, exchange settlement and sale and other intermediary
businesses of the project shall be handled within the scope of the Consortium, and the proportion
of the intermediary business of each Lender shall match with the proportion of committed loans.

20.18 The Borrower shall apply for the ownership certificate of the assets formed in the
project construction in a timely manner and shall, within fifteen (15) Business Days after the
assets under the project and other mortgageable assets stipulated herein conform to mortgage
conditions, enter into Maximum Amount Property Mortgage Contract with the Agent Bank representing
all Lenders in light of the format prescribed in Appendix IX hereof and mortgage the right to use
the construction land, buildings, machinery equipments and other properties as well as other
mortgageable properties prescribed herein to all Lenders and go through mortgage registration and
other relevant formalities with the Agent Bank in accordance with Property Law of the People’s
Republic of China, the Guarantee Law of the People’s Republic of China and other laws and
regulations.

20.19 The Borrower shall, within three (3) Business Days after the project construction and
the assets formed therein satisfy the conditions for insurance purchase, effect insurance against
risks of such assets and shall not discontinue the insurance within the valid term hereof. The
insurance shall be underwritten by a strong insurance company of good standing against property all
risks (including machinery equipment damage insurance). The insurance coverage shall conform to
industry standard and relevant provisions of the State on insurance and the insured amount shall
not be lower than the market value of such assets. The Borrower shall notify the Agent Bank within
three (3) Business Days after the insurance purchase. It shall be stated in the original policy of
the aforesaid insurance that the Agent Bank representing all Lenders shall be the first
beneficiary.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

20.19.01 The Borrower shall, within three (3) Business Days after the insurance contract or
insurance policy is signed or issued, submit the originals of such insurance contract and insurance
policy to the Agent Bank for safekeeping. If the Borrower needs to make any change to such
insurance contract or insurance policy, it shall notify the Agent Bank five (5) Business Days in
advance and the Agent Bank may provide necessary assistance; the Borrower shall, within three (3)
Business Days from the Signature Date of the altered documents of insurance contract or insurance
policy, submit the originals to the Agent Bank for safekeeping.

20.19.02 The Agent Bank shall have the right to supervise that the Borrower effects insurance
according to the stipulations hereof within the valid term hereof. If the Borrower fails to effect
insurance in light of the stipulations hereof, the Agent Bank shall have the right to purchase the
insurance on behalf of the Borrower and the insurance premium paid by the Agent Bank shall be
assumed by the Borrower; the Agent Bank shall have the right to directly deduct an amount equal to
the insurance premium plus all expenses incurred to the Agent Bank due to the insurance purchase
from any bank account opened by the Borrower in the Agent Bank. In case other payables due of the
Borrower cannot be paid in full due to such deduction, the Borrower shall make up for the amount in
a timely manner. The stipulation of this Article does not constitute the obligations of the Agent
Bank and shall not affect the Agent Bank to exercise its right to hold the Borrower liable for
breach of contract according to the clauses hereof.

20.19.03 The Borrower shall, within three (3) days after it becomes aware of or it should
become aware of the insurance accident, notify the Agent Bank in writing and timely make claims
against the insurer in light of relevant provisions of insurance contract or insurance policy; any
loss caused to the Lenders because the notice is not given or the claim is not made timely or the
obligations under the insurance contract or insurance policy are not performed shall be assumed by
the Borrower.

20.19.04 In case of the occurrence of the loss of the insured property, the insurance
compensation obtained thereby, upon the consent of the Majority of Lenders, are decided to be used
in (1) repairing property damage under the Project; or (2) paying off the principal and interest of
the loan hereunder ahead of schedule, compensating relevant losses and paying related expenses; or
(3) after the Borrower provides new, sufficient and effective collaterals or other guarantees to
the Consortium, the compensation shall be given to the Borrower at its disposal.

20.20 In case the cost of project construction overruns, the Borrower shall resolve the
problem by means of self-financing of the Borrower, the capital increase of shareholders of the
Borrower or the loan raised from the shareholders of the Borrower. If the Borrower raises loan from
its shareholders, it shall not repay the loan to its shareholders if all accrued payables hereunder
are not paid and/or so long as the Breaching Events persist under any circumstance.

20.21 The Borrower shall, on the same day as the Signature Date hereof, enter into Capital
Supervision Agreement with the Agent Bank in light of the format and content of Appendix XII hereof
and subject itself to the monitoring conducted by the Agent Bank authorized by the Consortium
regarding the use of capital in relevant special accounts of the Borrower as is prescribed in
Article 20.11 hereof.

20.22 The Borrower shall ensure the self-owned fund of the project construction and gap of
working capital that supports the project is timely allocated in full.

20.23 Within the operational period of the project, the Borrower shall ensure the operation of
the project meets the environmental compliance and emission standard, and obtain relevant license
certificate documents on safe production; the overall capacity utilization rate shall not be lower
than 50%, and the stock amount of materials and finished products shall match with its normal
production and sales level (in case of excess, the margin shall not be higher than 20% of the
normal level).

20.24 Within the valid term hereof, computed in light of the half-yearly financial statements
of the Borrower for each accounting year, the Borrower shall ensure:

(1) The asset liability ratio shall not exceed 60% (“asset liability ratio” refers to the
ratio of total liabilities to total assets in the current statement of the Borrower);

(2) Net
 profit rate > 0;

(3) Interest

 coverage ratio > 2.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

20.25 Within the valid term hereof, the Borrower shall give a written notification to the
Agent Bank every three months as from the Signature Date hereof regarding (1) fluctuations in
prices of raw materials needed in the operation of the project and in project products, market
information of the project products, market prospect of the project products, policy changes and
development trend of the industry, market development of the Borrower and other operation
information; (2) analysis of the market competitiveness of the Borrower and assessment of major
competitors in the same business; (3) analysis of financial status and major financial data of the
Borrower; (4) plans of the Borrower on investment and financing and the implementation thereof; (5)
significant changes in the operation , management, investment, guarantee or other aspects of the
Guarantor; (6) recent announcement of overseas listed companies; and (7) relevant information
concerned by the Consortium.

20.26 As from the Signature Date hereof, the average solar conversion efficiency of the
commercialized monocrystalline cell production line of the Borrower shall not be lower than 17.5%.
The Agent Bank shall fix an observation date at the end of each quarter to conduct supervision and
monitoring of the Borrower.

Article 21 Financial Documents

21.01 The Borrower shall ensure that all financial statements and other documents submitted to
the Agent Bank hereunder are legal, complete, true and valid. When providing documents in light of
Article 21 hereof, the Borrower shall provide a copy affixed with the official seal of the Borrower
to the Agent Bank so that the Agent Bank may distribute at least one copy of such statements or
documents to each Lender.

21.02 The Borrower shall provide its financial statements or consolidated financial statements
of the current month to the Agent Bank not later than 15 days after the end of each month.

21.03 The Borrower shall, not later than four (4) months after the end of each Accounting
Year, provide an original of the financial audit report of the previous year that is recognized by
the Consortium and issued by an accounting firm with qualifications.

21.04 The Borrower shall cooperate with each Lender to supervise the use of the Loan Fund and,
upon the reasonable request of each Lender from time to time, provide such documents about the
financial, production and operation situation of the Borrower to the Agent Bank, provided that the
providing of such documents shall not make the Borrower violate any confidentiality obligations
legally binding on the Borrower.

CHAPTER IX BREACHING EVENTS

Article 22 Breaching Events

22.01 Each of the following events shall constitute a Breaching Event:

22.01.0l The Borrower fails to pay any amount due hereunder in the sum, currency and manner
and by the time line as specified herein and fails to make remedies to the satisfaction of the
Majority of the Lenders within ten (10) Business Days of the day when the Borrower becomes aware of
the event or the day when the Agent Bank sends the notice demanding the Borrower make such remedy,
whichever is earlier.

22.01.02 Apart from those set forth in the above Article 22.01.01, the Borrower fails to
perform or comply with any other obligation hereunder in a timely or proper manner and fails to
make remedies to the Majority of the Lenders within ten (10) Business Days of the day when the
Borrower becomes aware of the event or the day when the Agent Bank sends the notice demanding the
Borrower make such remedy, whichever is earlier.

22.01.03 Any representation, warranty or covenant made or restated (or deemed restated) by the
Borrower hereunder has been proved to be incorrect or misleading in any material aspect and the
Borrower fails to make remedies to the satisfaction of the Majority of the Lenders within ten (10)
Business Days of the day when the Borrower becomes aware of the event or the day when the Agent
Bank sends the notice demanding the Borrower make such remedy, whichever is earlier.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

22.01.04 The Borrower fails to pay any Debt when due; or any Breaching Event has arisen out
of any document in relation to the Borrower’s Debts; or any Breaching Event so arising has led to
the acceleration of such Debts becoming due or the same immediately becoming due; any Breaching
Event so arising has led to cancellation or suspension of such Debt commitments; or any security
created on the Borrower’s Debts has been enforced; and the Borrower fails to make remedies to the
satisfaction of the Majority of the Lenders within ten (10) Business Days of the day when it
becomes aware of the event or the day when the Agent Bank sends the notice demanding the Borrower
make such remedy, whichever is earlier; provided that no Breaching Event shall be deemed to have
occurred if the aggregate of the aforesaid Debts is no more than Renminbi twenty million yuan (RMB
20,000,000) or equivalent.

22.01.05 Any executive or director of the Borrower has been involved in any major event that
allegedly amount to corruption, bribe-taking, graft or illegal business which is subject to
investigation by the judicial authorities and the Borrower fails to notify the Agent Bank and
Lenders in writing within three (3) Business Days of occurrence of the said major event.

22.01.06 Without consent from the Majority of the Lenders, the Borrower commences to
negotiate with one or more creditors on all-round Debts restructuring and assignment of Debts
because the Borrower is (or is deemed under any law) unable to or has admittedly unable to repay
any financial Debt(s) due that is (are) individually or totally equivalent to more than Renminbi
twenty million yuan (RMB20,000,000) that have arisen within one Accounting Year or because of any
other similar event, and the Borrower fails to make remedies to the satisfaction of the Majority of
the Lenders within ten (10) Business Days of the day when it becomes aware of the event or the day
when the Agent Bank sends the notice demanding the Borrower make such remedy, whichever is earlier.

22.01.07 Without prior written consent from all of the Lenders, an event such as contracting,
lease, merger, division, joint venture, project transfer, reorganization or petition for suspending
business for rectification or for bankruptcy has occurred with respect to the Borrower, which
materially affect the realization of the Lender’s rights as creditor hereunder.

22.01.08 Major accidents have arisen with respect to the Borrower which have a Material
Adverse Impact on the repayment of the loan hereunder; the Borrower has been deregistered or its
business license has been revoked; any litigation or arbitration has taken place with respect to
the Borrower which has a Material Adverse Impact on the repayment of the loan hereunder; the
Borrower has run into serious operational difficulties or its financial condition has deteriorated.

22.01.09 The Borrower has taken any corporate action or any individual has taken any action,
or any proceeding has been instituted; or any order has been issued; or any request has been made;
or any resolution has been adopted, to close down, liquidate or dissolve the Borrower or suspend
its business for rectification or make it go into bankruptcy or to appoint liquidators,
administrators or receivers for all or part of its assets for the abovementioned purposes.

22.01.10 Any asset(s) of the Borrower worth more than Renminbi ten million yuan
(RMB10,000,000) has(have) been sealed up, frozen, seized, enforced or is(are) subject to any
similar proceeding, and the Borrower fails to make remedies to the satisfaction of the Majority of
the Lenders within ten (10) Business Days of the day when it becomes aware of the event or the day
when the Agent Bank sends the notice demanding the Borrower make such remedy, whichever is earlier.

22.01.11 Any event or circumstance has arisen in any place with respect to the Borrower which
produces effects similar to those specified in Articles from Article 22.01.05 to Article 22.01.10.

22.01.12 The Borrower has stopped or threatened to stop all or a major part of its businesses.

22.01.13 It is or has become illegal for the Borrower to perform any of its obligations
hereunder.

22.01.14 The Borrower has injured the lawful rights and interests of the Lenders by diverting
profits through unfair affiliated transactions.

22.01.15 The Guarantor under the Guaranty Contract has breached the Guaranty Contract.

22.01.16 Trina Solar Limited, the Shareholder of the Borrower has breached its Letter of
Guarantee and Undertaking.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

22.01.17 Gao Jifan and Wu Chunyan, the Guarantors, have breached their Letter of Guarantee.

22.01.18 Any event or circumstance has arisen with respect to the Borrower that has or may
lead to a Material Adverse Impact.

22.02 The Agent Bank may (or should upon request by the Majority of the Lenders) take one or
more of the following actions upon occurrence of the Breaching Events set forth in Article 22.01:

22.02.01 Notifying the Borrower in writing of the cancellation of all or any part of the Loan
Fund to be disbursed to the Borrower if the Loan Fund has not yet been disbursed;

22.02.02 Notifying the Borrower in writing of all or part of the Loan Balance along with all
interest and costs accrued and all or part of other amounts owed hereunder immediately becoming due
and payable; such costs and amounts shall become due and payable after such notification and
without any further notice by the Agent Bank.

22.02.03 Notifying the Borrower in writing of the cancellation of the portion of the Loan
Amount that has not been disbursed and the Loan Amount itself, and the Disposable Loan Amount and
the Disposable Committed Loan Amount of each Lender shall immediately fall to zero.

22.02.04 Exercising any other right of the Agent Bank under law or this Agreement.

22.03 Upon request by any Lender, the Borrower shall indemnify the Lender for and against any
and all reasonable losses and costs (mainly referring to reasonable lawyers’ fees and court fees)
incurred or borne by the Lender as a result of any Breaching Event or the failure by the Borrower
to perform any of its obligations hereunder. The Borrower hereby acknowledges and agrees that,
during the period when a Breaching Event exists, each Lender and the Agent Bank shall have right to
withhold the balance of any account opened by the Borrower with the Lender or the Agent Bank
(including any of its branches within our bank system) and to transfer to the Agent Bank for
apportionment pursuant to this Agreement. The Lender/Agent Bank shall notify the Borrower in
writing within two (2) Business Days of the withholding.

22.04 Each of the following events shall constitute a breaching event on the part of a Lender:

22.04.01 The Lender fails to disburse the Loan Fund in the sum, currency and manner and by the
timeline as specified herein.

22.04.02 Apart from those set forth in the above Article 22.04.01, the Lender fails to
perform or comply with any other obligation hereunder or under any financing document in a timely
or proper manner and fails to make remedies to the satisfaction of the Borrower, Agent Bank and/or
other Lenders within ten (10) Business Days of the day when the Lender becomes aware of the event
or the day when the Borrower, Agent Bank and/or other Lenders send the notice demanding the Lender
make such remedy, whichever is earlier.

22.05 Upon the occurrence of any breaching event on the part of a Lender as set forth in the
above Article 22.04 which is of interest to the Borrower, the Borrower shall have right to demand
the breaching Lender make correction within a reasonable time limit. If the breaching Lender fails
to make correction within the time limit, the Borrower shall have right to exercise any of its
rights under law or this Agreement. Upon request by the Borrower who has presented documentary
evidence for the request which has been verified by such breaching Lender, such breaching Lender
shall indemnify the Borrower for and against any and all reasonable losses, costs (including
without limitation reasonable lawyers’ fees and court fees) or expenses incurred or borne by the
Borrower as a result of any breaching event on the part of the Lender or the failure by the Lender
to perform any of its obligations hereunder.

22.06 Upon the occurrence of any breaching event on the part of a Lender as set forth in the
above Article 22.04 which is of interest to the Agent Bank or the other Lenders, the Agent Bank or
the other Lenders shall have right to demand the breaching Lender make correction within a
reasonable time limit. If the breaching Lender fails to make correction within the time limit, the
Agent Bank or the other Lenders shall have right to exercise any of its/their rights under law or
this Agreement. Upon request by the Agent Bank or the other Lenders who (has) have presented
documentary evidence for the request which has been verified by the breaching Lender, the breaching
Lender shall indemnify the Agent Bank or the other Lenders for and against any and all reasonable
losses incurred or borne by the Agent Bank or the other Lenders as a result of any breaching event
on the part of the Lender.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Chapter X Relationships within Consortium

Article 23 Leading Bank, Agent Bank and Lenders

23.01 Each Lender shall enjoy rights and bear the liabilities in performing this Agreement in
proportion to its share in the Loan Balance (or the percentage of its Committed Loan Amount in the
Loan Amount if the Loan Fund has not been disbursed). If any Lender has defaulted on all or part of
its obligations hereunder, the Lender shall assume sole liabilities to the Borrower and other
Lenders shall not assume any liability, provided that in such case the other Lenders shall not be
relieved of their obligations hereunder.

23.02 Duties and Responsibilities of Leading Bank and Co-leading Bank

23.02.01 The Leading Bank shall perform the following duties and responsibilities:

(1) The Leading bank has received a letter of authorization formally issued by the Borrower
which grants power to the Leading Bank to do preparatory and organizational work for formation of
the Consortium and the Leading Bank has sent invitations for formation of the Consortium to other
banks in accordance with such letter;

(2) The Leading Bank shall send to other banks memorandums and other information in relation
to the Consortium that the Leading Bank deems necessary, specifying the deadline for feedback and
sum up feedbacks;

(3) The Leading Bank shall engage lawyers to act as the counsel for the loans provided by the
Consortium, who shall take part in the work relating to the syndicated loans;

(4) Make arrangements for negotiation, drafting and execution of the loan agreements and
related documents.

23.02.02 The Co-leading Bank shall assist the Leading Bank in performing its duties and
responsibilities:

23.03 The Lenders hereby appoint the Agent Bank as the agent bank with respect to this
Agreement and authorize the Agent Bank to exercise rights, powers and discretions expressly granted
to it under this Agreement. The acts committed by the Agent Bank in performing its duties hereunder
shall be binding upon all of the Lenders. The Lenders shall exercise all of their rights set forth
herein through the Agent Bank.

23.04 Duties and Responsibilities of Agent Bank

The Lenders hereby authorize the Agent Bank to perform the following duties and
responsibilities and the Agent Bank agrees and undertakes to perform such duties/responsibilities:

(l) The Agent Bank shall be responsible for the organization and implementation with respect
to this Agreement after the same is executed;

(2) The Agent Bank shall strictly execute with this Agreement and safeguard the Lender’s
interest pursuant to the same, and shall not injure the lawful interests of the other Lenders by
taking advantage of the position of the Agent Bank;

(3) As the loan manager hereunder who is put in charge following the execution of this
Agreement, the Agent Bank shall appoint individuals to dedicatedly deal with matters with respect
to the syndicated loans and shall forward the relevant financial information and data delivered by
the Borrower to the Lenders;

(4) The Agent Bank shall disburse all loans hereunder and collect the principal and interest
of the loans in strict compliance with this Agreement;

(5) The Agent Bank shall record item by item the Loan Funds that each Lender agrees to
disburse and the Committed Loan Amount of each Lender and the loan principal and interest that has
been repaid;

(6) The Agent Bank shall promptly transfer to all of the Lenders the interest, principal and
other amounts paid or repaid by the Borrower in due time as per each Lender’s share as specified in
this Agreement, except as otherwise provided herein;

 

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(7) If the Borrower is unable to repay the loan in full in due time, the Agent Bank shall
transfer the portion that has been repaid to all of the Lenders in accordance with this Agreement;
and shall charge the Borrower the penal interest for the portion overdue in accordance with this
Agreement;

(8) The Agent Bank shall supervise over and inspect the Borrower to make sure that the
Borrower uses all of the Loan Funds for construction of the Project and duly performs this
Agreement and the related documents;

(9) The Agent Bank shall promptly communicate and/or deliver to the Lenders /Borrower any
information, documents or certificates in relation to this Agreement which are provided by the
Borrower/ Lenders after the Agent Bank receives the same; if only one original copy of any document
or information has been provided, the Agent Bank shall properly maintain the original copy and
provide the Lenders or Borrower with a photocopy, provided that the Agent bank shall indicate that
the photocopy is identical to the original;

(10) The Agent Bank shall deliver the Agent Bank Work Report on a quarterly basis in the
format as set out in Appendix VIII, informing the Lenders of information concerning the use and
management of the loans hereunder and the progress of the Project under construction; and the Agent
Bank shall notify the Lenders promptly if any emergency has arisen;

(11) After execution of this Agreement, the Agent bank shall file a copy of this Agreement
with the local China Banking Regulatory Commission agency and People’s Bank and notify the
provincial trade union of this Agreement pursuant to the relevant regulations;

(12) The Agent Bank shall send a notice to demand that the Borrower make correction within a
time limit if the Borrower has breached this Agreement; if the Borrower fails to make correction
within the time limit as set forth in the notice, the Agent Bank shall propose a Consortium meeting
be convened and take further actions against the Borrower in accordance with the resolutions made
by the Consortium meeting;

(13) The Agent Bank shall take actions in accordance with this Agreement and the decisions
made by the Consortium meeting;

(14) The Agent Bank shall take actions to safeguard the Lenders’ rights and interests in good
faith if the authorities granted to it or its powers hereunder are ambiguous or unclear.

(15) The Agent Bank shall deal with the relevant security matters in accordance with this
Agreement and withdraw the Consortium’s Loan Funds after the effectiveness of the mortgage on the
Borrower’s assets and shall present the certificate issued by the mortgage registry showing that as
of the Withdrawal Date the subject of the mortgage is not subject to restrictions at law such as
freezing and sealing up;

(16) The Agent Bank shall deal with other matters in relation to the Consortium loans as
authorized by the Lenders.

23.05 The Agent Bank

23.05.01 may assume that:

(1) Any representation made by the Borrower with respect to this Agreement is true;

(2) No Breaching Event has occurred;

(3) Neither Party hereto has breached its obligations hereunder unless the Agent Bank becomes
aware of or takes note of any such breach.

23.05.02 may engage lawyers, accountants, valuators, translators and other professional that
it deem necessary and notify the Lenders of such engagements; and may rely on the opinions
presented by such professionals;

23.05.03 may rely on and believe to be true any communication or document (including without
limitation any payment or payment advice);

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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23.05.04 shall institute any proceedings with respect to or pursuant to this Agreement and
make defense for the same as directed by the Majority of the Lenders, provided that the Lenders
shall, pursuant to Article 23.18, indemnify for, disburse or bear any and all costs, claims,
expenses (including without limitation reasonable lawyer’s fee) and liabilities that the Agent Bank
might pay or incur as a result of it acting on such direction;

23.05.05 If it cannot obtain instruction from or get in touch with any of the other Lenders
after making reasonable efforts, it may in its sole discretion and in good faith take actions that
it deem appropriate on behalf of such Lenders without taking any liabilities to the Lender for such
act or omission;

23.05.06 As from the Signature Date of this Agreement, the Agent Bank may call no less than a
Consortium meeting each year on the theme of “Consortium Executive Communication”, requiring
executives of the Borrower and the Lenders to attend the meeting to carry out communication,
discussion and exchange with respect to the operational condition, the operation of the Consortium
and other related matters.

23.05.07 The Agent Bank may refuse to act on any instruction made by any Lender as long as it
is against any applicable law, subject to a prior written notice to all of the Lenders given by the
Agent Bank.

23.06 The Agent Bank shall:

23.06.0l notify the Lenders of the information contained in any communication or document sent
by the Borrower with respect to this Agreement within two(2) Business Days of receipt of the same
by it in the capacity of the agent bank hereunder;

23.06.02 notify the Lenders of any Breaching Event occurred within two(2) Business Days after
the Agent Bank becomes aware or take note of the same;

23.06.03 Unless as otherwise provided herein, the Agent Bank shall act in the capacity of the
agent bank hereunder as per the instructions sent by the Majority of the Lenders.

23.07 The Leading Bank, Co-leading Bank and Agent Bank shall not be liable for the followings:

23.07.01 Failure by the other Lenders to perform or duly perform their obligations hereunder;

23.07.02 The validity of this Agreement and the related Financing Documents;

23.07.03 Breach of this Agreement by the other Lenders;

23.07.04 The authenticity, accuracy and integrity of any information with respect to this
Agreement;

23.07.05 Formation and execution, effectiveness, legality, validity, adequacy and
enforceability of this Agreement or any certificate, statement, title document or other documents
with respect to this Agreement that have been executed or delivered at any time;

23.07.06 Other events that the Leading Bank, Co-leading Bank or Agent Bank could not predict
or control.

23.08 The Leading Bank, Co-leading Bank or Agent Bank shall not be deemed to have made any
representation or warranty except for those expressly set forth herein. The Lenders acknowledge
that they have inspected and evaluated and will follow up the financial condition,
creditworthiness, status, affairs, position and nature of the Borrower on its own. Each Lender
warrants to the Leading Bank, Co-leading Bank and Agent Bank that they never and will not rely on
the Leading Bank, Co-leading Bank or Agent Bank to fulfill the followings:

23.08.0l Conducting any review or investigation or enquiry of any information with respect to
the Borrower, any other Lenders or the transactions under this Agreement on behalf of the Lender to
ascertain the truthfulness, accuracy and integrity of the same, notwithstanding that Leading Bank,
Co-leading Bank or Agent Bank has provided or will thereafter provide the same to the Lender;

23.08.02 Evaluating or examining the financial condition, creditworthiness, status, affairs,
position or nature of the Borrower or any other Lender on its behalf;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

23.08.03 Investigating into or evaluating the legality, validity, binding force, adequacy and
enforceability of this Agreement or any document in relation thereto or any actions taken or to be
taken by any other Lender.

23.09 Each Lender shall, as requested by the Agent Bank from time to time, indemnify against
or disburse any and all costs, claims, losses, expenses (including without limitation reasonable
lawyer’s fee) and liabilities that have arisen or might arise out of the acts made by the Agent
Bank in the capacity of the agent bank hereunder in proportion to the Lender’s share in the Loan
Balance (or the percentage of its Committed Loan Amount in the Loan Amount if the Loan Fund has not
been disbursed), unless any of the forgoing costs is a result of a gross negligence or willful
misconduct by the Agent Bank.

23.10 The Agent Bank may at any time resign from the post of the agent bank hereunder upon
thirty days’ advance notice to the Parties hereto, provided that the resignation shall not take
effect until a succeeding agent bank is appointed in accordance with Article 23.11.

23.11 If the Agent Bank has sent a resignation notice pursuant to Article 23.10, the Lenders
may, subject to the Borrower’s consent, appoint a trustworthy and experienced bank as the Agent
Bank’s successor within the time limit set forth in the notice. If the Lenders fail to appoint the
Agent Bank’s successor within the time limit, the resigning Agent Bank may, subject to the
Borrower’s consent and on behalf of the Lenders, appoint a bank that is trustworthy and experienced
in its opinion as the Agent Bank’s successor, which shall be approved by the Lenders in writing.

23.12 If the Agent Bank’s successor has been appointed in accordance with Article 23.11, (1)
the Agent Bank shall be relieved of any further duties and obligations hereunder; (2) the Agent
Bank’s successor shall be granted all rights, powers, discretions and duties originally granted to
or charged with the Agent Bank hereunder; (3) the resigning Agent Bank shall hand over to its
successor all information and documents with respect to this Agreement that are in its possession
during the performance of its obligations hereunder and shall make full disclosure of the relevant
conditions to the extent of its knowledge.

23.13 If the Agent Bank’s successor has been appointed in accordance with Article 23.11, the
Borrower shall change the Special Construction Account, the Special Repayment Account and the
Special Account for Working Capital Loan within three (3) Business Days, i.e. close such accounts
opened with the original Agent Bank and open new Special RMB Construction Account, Special USD
Construction Account, Special Repayment Account and Special Account for Working Capital Loan with
the succeeding agent bank.

23.14 The Agent Bank shall notify the Borrower in writing of the appointment of the
succeeding agent bank within three(3) Business Days of the appointment and shall hand over to its
successor all information and documents with respect to this Agreement that are in its possession
during the performance of its obligations hereunder and shall make full disclosure of the relevant
conditions to the extent of its knowledge within such time limit, so as not to hold up the account
activities and withdrawal by the Borrower.

23.15 The Agent Bank shall perform its obligations hereunder with due prudence and diligence.
The Agent Bank shall be held liable pursuant to law for any loss incurred by any other Party hereto
as a result of the Agent Bank’s gross negligence or willful misconduct.

23.16 Each Lender shall have right to:

23.16.01 be informed of and inquire about the Borrower’s creditworthiness, use of Consortium
loans and performance of this Agreement through the Agent Bank;

23.16.02 require the Agent Bank to transfer and pay the principal and interest of the loans,
costs and other sums in accordance with this Agreement;

23.16.03 give notice to the Agent Bank of any default of duty or obligation or damage to the
interests of the other Lenders by the Agent Bank and demand the Agent Bank make rectification;

23.16.04 propose and attend a Consortium meeting in accordance with Article 24.02 and exercise
voting right in proportion to the Lenders’ share in the Loan Balance (or the percentage of its
Committed Loan Amount in the Loan Amount if the Loan Fund has not been disbursed);

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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23.17 Each Lender is obliged to:

23.17.01 assume the obligation of granting loans in sums as set out in Appendix I;

23.17.02 cooperate with and assist the Agent Bank in dealing with matters concerning the
loans;

23.17.03 make no addition, deletion, modification or amendment of any kind to the terms hereof
at its own discretion and without consent from the Leading Bank, Co-leading Bank or Agent Bank; not
reach any agreement or covenant among the Lenders with respect to this Agreement outside the scope
of this Agreement and any agreement so reached or any act performed pursuant to such agreement
shall be null and void;

23.17.04 not accelerate the Loan Balance of its loan to the Borrower until a decision on such
acceleration has been made by the Consortium meeting.

23.18 In proportion to its share in the Loan Balance (or the percentage of its Committed Loan
Amount in the Loan Amount if the Loan Fund has not been disbursed), each Lender shall:

23.18.01 as requested by the Agent Bank from time to time, indemnify against, disburse or bear
any and all costs, claims, losses, expenses (including without limitation reasonable lawyer’s fee,
auditor’s fee and valuator’s fee) and liabilities that have arisen or might arise out of the acts
made by the Agent Bank hereunder in the capacity of the agent bank, unless any of the forgoing
costs is a result of a gross negligence or willful misconduct by the Agent Bank;

23.18.02 require the Agent Bank to claim against the Borrower on its behalf for any costs
indemnified against, disbursed or borne by the Lender in favor of the Agent Bank under Article
23.18.01.

23.19 The parties hereto unanimously agree and acknowledge that, each Lender may authorize its
branches to perform its obligations or exercise its rights and powers hereunder in the name of such
branch. The forgoing performance by the Lender’s authorized branches shall be binding upon all
parties hereto. Cancellation of any such authorization shall not take effect until all parties to
the Consortium receive the relevant documentation. Notwithstanding any such authorization, the
duties and obligations of each Lender hereunder shall not be deemed to have been mitigated or
modified. The authorization made by the following Lender is set forth below:

	 	 	 	 	 
	Serial No.	 	Lender	 	Authorized Branch
	1	 	Bank of China Limited, Changzhou Branch
	 	Bank of China Limited, Changzhou  Xinbei Sub-branch

Article 24 Consortium Meeting

24.01 The Consortium meeting shall consist of all Lenders which is the highest authority
within the Consortium.

24.02 The Consortium meeting may be convened upon request by the Leading Bank, Co-leading Bank
or Agent Bank or at the written request sent to the Agent Bank by those Lenders whose shares in the
Loan Balance (or the percentages of their Committed Loan Amounts in the Loan Amount if the Loan
Fund has not been disbursed) reach one-thirds or more collectively and who deem a Consortium
meeting is necessary.

24.03 The Consortium meeting shall exercise powers and make decisions on the following issues
pursuant to law:

(1) revision to this Agreement or execution of any amendment hereto;

(2) consent to the Borrower canceling any Lender’s Committed Loan Amount;

(3) consent to the Borrower changing the use of the Loan Fund hereunder;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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(4) consent to an extension of the Withdrawal Period;

(5) consent to an increase to the Loan Amount;

(6) consent to mergers, divisions, restructuring, transformation into joint-stock company,
suspension of business, rectification, liquidation, bankruptcy, dissolution or other similar
proceedings with respect to the Borrower;

(7) consent to the Borrower distributing cash dividends;

(8) consent to the modification or release of the guaranties hereunder;

(9) consent to events with respect to the Borrower such as significant investments, financings
or equity changes;

(10) consent to an appointment of the Agent Bank’s successor;

(11) assertion of a breach by the Borrower and exercising rights and making claims against the
Borrower for the breach in accordance with this Agreement;

(12) decisions on bringing lawsuits and /or referring to arbitration;

(13) consent to the Lenders setting off sums against the debts owed by the Borrower pursuant
to the terms of this Agreement;

(14) other issues that shall be decided by the Consortium.

24.04 Decisions on the issues set out in Item (1) to (10) of Article 24.03 and other issues
requiring an unanimous consent by all of the Lenders in the opinion of the Majority of the Lenders
shall not take effect until and unless they are unanimously consented to by all of the Lenders;
decisions on other issues discussed by the Consortium meeting which are subject to voting shall
take effect upon consent by the Majority of the Lenders, except as otherwise provided herein.

24.05 The Agent Bank may solicit the Lenders’ opinions on the issues listed in Article 24.03
in writing in lieu of the Consortium meeting. If the replies provided by the Lenders to the Agent
Bank’s solicitation constitute decision(s) of the Consortium meeting pursuant to Article 24.03, the
Agent Bank shall promptly notify the Borrower, the Lenders, the Leading Bank and the Co-leading
Bank in writing of such decisions.

Article 25 Proportional Indemnification

25.01 If any Lender has set off any sum that has received or collected from the Borrower
(other than those received or collected pursuant to Article 15) against any sum due hereunder, the
Lender shall:

25.01.01 immediately notify the Agent Bank of the sum so collected or received;

25.01.02 at request of the Agent Bank, promptly pay out a sum equivalent to the sum received
or collected (“the Shared Sum”).

25.02 The Agent Bank shall allocate the Shared Sum among the Lenders pursuant to Article 16.04
as a sum repaid by the Borrower.

Article 26 Transfer and Assignment

26.01 This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns.

26.02 The Borrower shall not transfer or assign any of its rights or obligations hereunder.

26.03 The Borrower agrees that, subject to Article 26.04, any Lender (the “Transferor Bank”)
may at any time assign and transfer all or part of its rights and obligations hereunder to another
bank (the “Transferee”); provided that the other Lenders within the Consortium shall have
preemptive right to such rights and obligations under the same conditions. The Transferor Bank
shall notify the other Lenders within the Consortium in writing of its intention of such transfer,
and the other Lenders shall be deemed to have waived the preemptive right if they fail to provide a
response to the notice within ten (10) Business Days of receipt of the same. If more than two
Lenders wish to exercise their preemptive right, they shall consult with each other to determine
their respective percentage in the transfer; if consultation fails, they shall exercise their
preemptive right according to the percentage of their respective share in the total share of the
Transferee Banks in the Loan Balance (or the percentage of their respective Committed Loan Amount
in the Loan Amount if the Loan Fund has not been disbursed) as of the time of such transfer.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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26.04 The aforesaid transfer and assignment by any Lender shall not be effective until all of
the following conditions have been satisfied:

26.04.01 The Transferor Bank and Transferee Bank deliver to the Agent Bank a Transfer
Certificate duly completed and executed by the two parties in the format as set out in Appendix
XIII.

26.04.02 The Agent Bank, Borrower, Transferor Bank and Transferee Bank shall duly complete and
execute the Transferred Committed Loan Amount in the format as set out in Appendix XIV.

26.05 All Lenders other than the Transferor Bank and Transferee Bank hereby irrevocably
authorize the Agent Bank to duly complete and execute any Transfer Certificate that shall be duly
completed and executed by the Agent Bank on their behalf.

26.06 Any transfer and assignment under Article 26.03 shall be binding upon the Borrower.

26.07 As of the transfer date as set out in the Transfer Certificate executed by the Agent
Bank and as far as the subject of the transfer as set out in the Transfer Certificate is concerned:

26.07.01 The Transferor Bank shall not perform any outstanding obligation hereunder with
respect to the subject of the transfer;

26.07.02 The Transferee Bank shall accept and perform all outstanding obligations hereunder
with respect to the subject of the assignment;

26.08 The Transferor Bank shall not assume liabilities to the Transferee Bank for the
following:

26.08.01 the formation, execution, truthfulness, validity and enforceability of any Financing
Document or any other related document;

26.08.02 the collectability of any sum due under any Financing Document;

26.08.03 the truthfulness, accuracy and integrity of any representation under or in connection
with any Financing Document, whether made orally or in writing.

26.09 The Transferee Bank assures of the Leading Bank, Co-leading Bank, Agent Bank and other
Lenders that:

26.09.01 It has inspected and evaluated the financial condition, creditworthiness and other
conditions of the Borrower on its own and without relying on any information provided by the
Leading Bank, Co-leading Bank, Agent Bank or any Lender other than the Transferor Bank with respect
to the Borrower or any Financial Document;

26.09.02 It will continue to inspect and evaluate the financial condition, creditworthiness
and other conditions of the Borrower on its own.

26.10 The Transferor Bank is not obliged to:

26.10.01 accept any rights and/or obligation from any Transferee Bank that has already
assigned to the Transferee Bank pursuant to Article 26.03;

26.10.02 indemnify against any loss incurred to the Transferee Bank due to the Borrower’s
failure to perform any obligation hereunder;

26.11 The Agent Bank shall properly maintain the name list of the parties hereto and shall
present such list at the request of any other parties hereto.

 

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Chapter XI Governing Law and Dispute Resolution

Article 27 Governing Law

27.01 This Agreement shall be governed by and construed in accordance with the laws of China
(including without limitation the current effective laws; administrative regulations, decisions and
decrees promulgated by the State Council, local regulations enacted by the People’s Congress at all
levels and rules published by all departments and commissions under the State Council). For the
purpose of this Agreement, laws of China do not include those of Taiwan, Hong Kong SAR and Macao
SAR.

Article 28 Dispute Resolution

28.01 In the event of any dispute arising out of this Agreement, the parties hereto shall
resolve the dispute in good faith and through friendly consultation.

28.02 If consultation fails, a lawsuit shall be filed with the local people’s court in the
place where this Agreement has been executed.

Chapter XII Other Provisions

Article 29 Confidentiality

29.01 The Lenders shall keep confidential any information, document and material that the
Borrower or its authorized representatives have provided with the Lenders with respect to this
syndicated loan which is recorded in all kinds of media as well as the trade secrets of the
Borrower that come to the Lenders’ attention during their performance of the Financing Documents;
provided, however, that any Lender shall have right to:

29.01.01 disclose any such information that is already in the public domain (excluding the
information coming into the public domain as a result of the breach of this provision by the
Lender);

29.01.02 disclose such information in any litigation or arbitration;

29.01.03 disclose such information as required by laws or regulations;

29.01.04 disclose such information to any governmental, financial, taxation or other
authorities;

29.01.05 disclose such information pursuant to the following Article 29.02;

29.01.06 disclose such information upon approval by the Borrower.

29.02 Any Lender shall have right to disclose to any Affiliate or any other person that might
sign or have already signed any transfer or loan participation agreement or other agreements or any
advisors in relation to this Agreement (the “ Participants”):

29.02.01 photocopies of any Financing Document;

29.02.02 any information under or with respect to any Financing Documents which is already in
the Lender’s possession.

Provided that the Participants shall deliver to the Lender a written consent to performing the
confidentiality obligations pursuant to Article 29.01 prior to receiving any confidential
information hereunder and that the Lender shall make reasonable efforts to maintain the Borrower’s
lawful interests.

29.03 The agreements contained in the preceding Article 29.01 and Article 29.02 shall
supersede any confidentiality commitment made by any Lender with respect to this Agreement prior to
it becoming a party hereto.

 

35

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 30 Proofs of Credits and Debts

30.01 The Agent Bank or any Lender shall make entries and records in their account books with
respect to this Agreement in accordance with its business practices. The Lenders and the Agent Bank
hereby acknowledge that, the outstanding loan actually owed by the Borrower hereunder to any Lender
shall be proved by the Loan Balance as set out in the loan balance statement, which shall be
produced by the Agent Bank and checked with the Borrower on a quarterly basis.

Article 31 Changes to Law

31.01 If it has become illegal for any Lender to perform its obligations with respect to the
loan hereunder due to any enactment of or change to any applicable laws or regulations at any time
following the Signature Date, the Lender shall promptly deliver to the Agent Bank a certificate
stating the causes and grounds for such illegality in full details after it becomes aware of the
same. The Agent Bank shall notify the Borrower and deliver to the Borrower a copy of such
certificate within two (2) Business Day of receipt of the same. Such Lender’s commitment on the
Loan Fund that has not been disbursed and its Disposable Committed Loan Amount shall be
automatically cancelled upon such notice by the Agent Bank. Except as otherwise provided by law,
after receiving the notice sent by the Agent Bank on behalf of such Lender, the Borrower shall
repay such Lender its share in the Loan Balance and the interest accrued thereon within the time
limit (which shall in no event be shorter than thirty (30) Business Days) as set out in the notice.

31.02 Such Lender shall not pay any penalty or charge to the Borrower for the cancellation of
its commitment with respect to the Loan Fund that has not been disbursed and of its Disposable
Committed Loan Amount pursuant to Article 31.01.

Article 32 Offsetting

32.01 The Borrower shall not set off any additional taxes or charges against the Loan Fund
hereunder on the account of any change to laws, government policies and taxes and charges.

32.02 In the event of a Breaching Event as set out in Article 22.01, any Lender shall have
right to withhold and transfer the sums in the account opened by the Borrower with the Lender to
repay the principal, interest, compound interest and penalty interest due and unpaid and other sums
payable hereunder by the Borrower, notwithstanding that the account balance and the debt owed by
the Borrower to the Lender may be denominated in different currencies. Upon receipt of such sums,
the Lender shall pay such sums to the Agent Bank pursuant to Article 25 for sharing among all
Lenders by the Agent Bank.

Article 33 Waiver and Severability

33.01 No failure or delay by any Lender in exercising any of its rights hereunder shall be
deemed a waiver of such right. Any single or partial exercise of any such right by a Lender shall
not preclude any other or further exercise of the same or exercise of any other right or privilege
by the same. The rights and remedies hereunder are not exclusive of any right or remedy granted to
any Lender under laws.

33.02 In the event that any provision hereof has become illegal, invalid or unenforceable at
any time, the legality, validity or enforceability of the other provisions hereof shall not be
affected or impaired.

 

36

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Article 34 Revision

34.01 The Agent Bank and the Borrower may revise this Agreement in writing from time to time
pursuant to Article 24.03 (1) and any revision so made shall be binding upon all Lenders and the
Borrower.

34.02 The Borrower and the Leading Bank, Co-leading Bank, Agent Bank and all other Lenders
shall otherwise sign a supplementary hereto with respect to any matter not addressed herein. Such
supplementary shall have equal force and effect as this Agreement.

Article 35 Notice

35.01 All communications between a Lender and the Borrower with respect to this Agreement
shall be carried out through the Agent Bank.

35.02 Any notice, request, instrument or other document sent pursuant to this Agreement by
any party hereto to any of the other parties hereto shall be made in writing and sent to the
address or telex or fax number designated by the addressee in writing from time to time naming the
person for attention of notices. The addresses and telex and fax numbers and the people for
attention of notices which are originally designated by the parties hereto are set out in the
Signature Page of this Agreement.

35.03 Any communication between the parties hereto pursuant to this agreement shall be deemed
to have duly received by the addressee:

35.03.01 when delivered and signed by the recipient for acknowledgement if delivered
personally;

35.03.02 upon transmission and the receipt of a transmission report if given or made by telex
or fax;

35.03.03 at 12:00 pm (Beijing Time) on the seventh (7th) Business Day following posting to the
right address if sent by post (including express service).

35.04 Any party hereto who has changed its person for attention of notices, address or telex
or fax numbers shall notify the Agent Bank within two (2) days of such change. The Agent Bank shall
forthwith notify the other parties hereto upon receipt of the notice of change from such party.

Article 36 Counterpart

36.01 This Agreement has been written in Chinese and signed in nineteen (19) originals which
are in equal force and effect.

36.02 This Agreement is the master agreement on the syndicated loan contemplated herein. In
case of a discrepancy between this Agreement and other agreements with respect to the syndicated
loan (including without limitation the maximum amount property mortgage contract), this Agreement
shall govern.

36.03 The Appendices attached to this Agreement forms an integral part thereof.

Article 37 Effectiveness and Termination

37.01 This Agreement shall come into force executed and sealed by duly authorized
representatives of the Borrower and the Leading Bank, Co-leading Bank, Agent Bank and each Lender.

37.02 This agreement shall terminate as of the time when the principal, interest, compound
interest, penal interest and charges with respect to the loan hereunder have been paid in full.

 

37

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

[No further text on this page, it is the Signature Page 1 of the Syndicated Loan Agreement for
Solar PV Industry Vertical Integration Product Project with Annual Capacity of 500MW for signature
by the parties hereto.]

	 	 	 
	Borrower: Changzhou Trina Solar Energy Co., Ltd.

Address: #2 Tianhe Road, Electronic Industrial Park, Xinbei District, Changzhou

Postal Code: 213031

Person-in-charge: Gao Jifan

	Tel: 0519-85176833

	 	Fax: 0519-85176913

Contact Person: Zhang Yinhua

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

	 	 
	 	[Stamped with company seal]
 

	 	 
	Name:

	 	 	 	Company Seal	 	 

Date: September 28, 2009

Leading Bank: Agricultural Bank of China Co., Ltd., Jiangsu Branch

	 	 	 
	Address: #357 Hongwu Road, Nanjing
	 	 
	Postal Code: 210002
	 	 
	Person-in-charge: Zhu Gaoming
	 	 
	Tel: 025-84571888-39641

	 	Fax: 025-84573600
	Contact Person: Gao Haitao
	 	 

	 
	Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

	 	 
	 	[Stamped with company seal]
 

	 	 
	Name:

	 	 	 	Company seal	 	 

Date: September 28, 2009

 

38

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

[No further text on this page, it is the Signature Page 2 of the Syndicated Loan Agreement for
Solar PV Industry Vertical Integration Product Project with Annual Capacity of 500MW for signature
by the parties hereto.]

Co-Leading Bank: Bank of China Limited, Jiangsu Branch

	 	 	 
	Address: #148 South Zhongshan Road, Nanjing
	Postal Code: 210005
	 	 
	Person-in-charge: Xie Ping
	 	 
	Tel: 025-84207888-61058

	 	Fax: 025-84207888-61013
	Contact Person: Wang Qincheng
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

Lender: The Export and Import Bank of China, Nanjing Branch

	 	 	 
	Address: 40th Floor, Century Square Building of Commercial Mansion, No. 49 South Zhongshan Road, Nanjing
	Postal Code: 210005
	 	 
	Person-in-charge: Zhang Qiang
	 	 
	Tel: 025-86890571

	 	Fax: 025-86890524
	Contact Person: Zhou Zhaoping
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/

	 	 	 	[Stamped with company seal]	 	 
	 

Name:

	 	 
	 	 

Company seal
	 	 

Date: September 28, 2009

 

39

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

[No further text on this page, it is the Signature Page 3 of the Syndicated Loan Agreement for
Solar PV Industry Vertical Integration Product Project with Annual Capacity of 500MW for signature
by the parties hereto.]

Lender: Agricultural Bank of China Co., Ltd., Changzhou Branch

	 	 	 
	Address: #19 North Heping Road, Changzhou
	Postal Code: 213001
	 	 
	Person-in-charge: Qiang Xinrong
	 	 
	Tel: 0519-88126998

	 	Fax: 0519-88123306
	Contact Person: Zheng Ji
	 	 

	 
	Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

Lender: Bank of Communications Co., Ltd., Changzhou Branch

	 	 	 
	Address: #171 West Yanling Road, Changzhou
	Postal Code: 213003
	 	 
	Person-in-charge: Yu Tao
	 	 
	Tel: 0519-86809098

	 	Fax: 0519-86607630
	Contact Person: Chen Huazhong
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

 

40

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

[No further text on this page, it is the Signature Page 4 of the Syndicated Loan Agreement for
Solar PV Industry Vertical Integration Product Project with Annual Capacity of 500MW for signature
by the parties hereto.]

Lender: China CITIC Bank Corporation Limited, Changzhou Branch

	 	 	 
	Address: #72 Bo’ai Road, Changzhou
	Postal Code: 213000
	 	 
	Person-in-charge: Sun Bo
	 	 
	Tel: 0519-88176201

	 	Fax: 0519-88176586
	Contact Person: Zhu Xinggang
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

Bank of China Limited, Changzhou Branch

	 	 	 
	Address: #21, North Heping Road, Tianning District, Changzhou
	Postal Code: 213003
	 	 
	Person-in-charge: Wu Min
	 	 
	Tel: 0519-8122988-8599

	 	Fax: 0519-88178411
	Contact Person: Gu Yanping
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

 

41

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

[No further text on this page, it is the Signature Page 5 of the Syndicated Loan Agreement for
Solar PV Industry Vertical Integration Product Project with Annual Capacity of 500MW for signature
by the parties hereto.]

Agent Bank: Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

	 	 	 
	Address: #311, Central Tongjing Road, Xinbei District, Changzhou
	Postal Code: 213022
	 	 
	Person-in-charge: Xie Zhixin
	 	 
	Tel: 0519-85198999

	 	Fax: 0519-85196151
	Contact Person: Wang Jianping
	 	 

Authorized Signatory:

	 	 	 	 	 	 	 
	/s/
 

Name:

	 	 
	 	[Stamped with company seal]
 

Company seal
	 	 

Date: September 28, 2009

 

42

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix I

Lender and Committed Loan Amount

1. The Lenders and their Committed Loan Amounts of RMB Working Capital Loan

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Unit: RMB Ten Thousand Yuan	 
	 	 	 	 	Working Capital Loan	 
	Serial	 	 	 	Committed Loan	 	 	Proportion of	 
	Number	 	Name of the Lenders	 	Amount	 	 	Committed Loan	 
	1	 	Agricultural Bank of China Co., Ltd.,
Changzhou Branch
	 	 	10200	 	 	 	43.85	%
	2	 	Bank of Communications Co., Ltd.,
Changzhou Branch
	 	 	4140	 	 	 	17.8	%
	3	 	The Export-Import Bank of China,
Nanjing Branch
	 	 	0	 	 	 	0.00	%
	4	 	China CITIC Bank Corporation Limited,
Changzhou Branch
	 	 	6000	 	 	 	25.80	%
	5	 	Bank of China Limited, Changzhou Branch
	 	 	2920	 	 	 	12.55	%
	 	 	 	 	 	 	 	 	 
	 	 	Total Amount
	 	 	23260	 	 	 	100	%
	 	 	 	 	 	 	 	 	 

2. The Lenders and their Committed Loan Amounts of RMB Fixed Assets Loan

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Unit: RMB Ten Thousand Yuan	 
	 	 	 	 	Fixed Assets Loan	 
	Serial	 	 	 	Committed Loan	 	 	Proportion of	 
	Number	 	Name of the Lenders	 	Amount	 	 	Committed Loan	 
	1	 	Agricultural Bank of China Co., Ltd.,
Changzhou Branch
	 	 	83100	 	 	 	64.32	%
	2	 	Bank of Communications Co., Ltd.,
Changzhou Branch
	 	 	20100	 	 	 	15.56	%
	3	 	The Export-Import Bank of China,
Nanjing Branch
	 	 	0	 	 	 	0.00	%
	4	 	China CITIC Bank Corporation Limited,
Changzhou Branch
	 	 	12000	 	 	 	9.29	%
	5	 	Bank of China Limited, Changzhou Branch
	 	 	14000	 	 	 	10.83	%
	 	 	 	 	 	 	 	 	 
	 	 	Total Amount
	 	 	129200	 	 	 	100	%
	 	 	 	 	 	 	 	 	 

3. The Lenders and their Committed Loan Amounts of US$ Fixed Assets Loan

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Unit: USD10,000	 
	 	 	 	 	Fixed Assets Loan	 
	Serial	 	 	 	Committed Loan	 	 	Proportion of	 
	Number	 	Name of the Lenders	 	Amount	 	 	Committed Loan	 
	1	 	Agricultural Bank of China Co., Ltd.,
Changzhou Branch
	 	 	905	 	 	 	11.31	%
	2	 	Bank of Communications Co., Ltd.,
Changzhou Branch
	 	 	1220	 	 	 	15.25	%
	3	 	The Export-Import Bank of China,
Nanjing Branch
	 	 	4000	 	 	 	50.00	%
	4	 	China CITIC Bank Corporation Limited,
Changzhou Branch
	 	 	1000	 	 	 	12.50	%
	5	 	Bank of China Limited, Changzhou Branch
	 	 	875	 	 	 	10.94	%
	 	 	 	 	 	 	 	 	 
	 	 	Total Amount
	 	 	8000	 	 	 	100	%
	 	 	 	 	 	 	 	 	 

 

43

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix II

Form of Chairman of the Board’s Certificate

 

44

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix III

Form of Withdrawal Notice

 

45

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix IV

Form of Loan Participation Notice

 

46

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix V

Form of Notice to Repayment in Advance

 

47

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix VI

Form of Repayment Notice

 

48

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix VII

Form of Payment Notice

 

49

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix VIII

Form of Agent Bank Work Report

 

50

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix IX

Form of Maximum Amount Property Mortgage Contract

 

51

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix X

Trina Solar Limited

(Acting as the Guarantor and Undertaker)

to

Agricultural Bank of China Co., Ltd., Jiangsu Branch

(Acting as the Leading Bank)

Bank of China Limited, Jiangsu Branch

(Acting as the Co-Leading Bank)

The Export and Import Bank of China, Nanjing Branch

Agricultural Bank of China Co., Ltd., Changzhou Branch

Bank of Communications Co., Ltd., Changzhou Branch

China CITIC Bank Corporation Limited, Changzhou Branch

Bank of China Limited, Changzhou Branch

(Acting as the Lenders )

Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

(Acting as the Agent Bank)

 

Letter of Guarantee and Undertaking

on

Syndicated Loan Agreement for

Solar PV Industry Vertical Integration Product Project with an Annual Capacity of 500MW

 

September 28, 2009

 

52

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	 	 
	To:

	 	Agricultural Bank of China Co., Ltd., Jiangsu Branch
	 

	 	(Acting as Leading Bank)
	 
	 	 
	 

	 	Bank of China Limited, Jiangsu Branch
	 

	 	(Acting as Co-Leading Bank)
	 
	 	 
	 

	 	The Export and Import Bank of China, Nanjing Branch
	 

	 	Agricultural Bank of China Co., Ltd., Changzhou Branch
	 

	 	Bank of Communications Co., Ltd., Changzhou Branch
	 

	 	China CITIC Bank Corporation Limited, Changzhou Branch
	 

	 	Bank of China Limited, Changzhou Branch
	 

	 	(Acting as the Lenders )
	 
	 	 
	 

	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch
	 

	 	(Acting as Agent Bank)

	 	 	 	 	 
	Recipient:	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch (Acting as Agent Bank)
	Address:	 	No. 311, Central Tongjiang Road, Xinbei District, Changzhou
	Postcode:

	 	 213022	 	 
	Person-in-Charge: Xie Zhixin	 	 
	TEL:

	 	 0519-85198999
	 	FAX: 0519-85196151
	Contact Person: Wang Jianping	 	 

	 	 	 
	Re:

	 	Letter of Guarantee and Undertaking
	 
	 	 
	Date:

	 	September 28, 2009

 

53

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Dear Sir/Madam,

This Company cautiously mentions that in September 2009, Changzhou Trina Solar Energy Co.,
Ltd. (hereinafter referred to as the “Borrower”) executed the “Syndicated Loan Agreement on the
Solar PV Industry Vertical Integration Product Project with an Annual Capacity of 500MW”
(hereinafter referred to as the “Loan Agreement”) with Agricultural Bank of China Co., Ltd.,
Jiangsu Branch which acts as the leading bank (called the “Leading Bank” when acting in this
identity), Bank of China Limited, Jiangsu Branch which acts as the co-leading bank (called the
“Co-Leading Bank” when acting in this identity), Agricultural Bank of China Co., Ltd., Changzhou
Xinbei Sub-branch which acts as the agent bank (hereinafter referred to as the “Agent Bank”), and
The Export and Import Bank of China, Nanjing Branch, Agricultural Bank of China Co., Ltd.,
Changzhou Branch, Bank of Communications Co., Ltd., Changzhou Branch, China CITIC Bank Corporation
Limited, Changzhou Branch and Bank of China Limited, Changzhou Branch which act as the lenders
(hereinafter collectively referred to as the “Lenders”).

Unless otherwise agreed in this Letter of Guarantee and Undertaking, the terms defined and
interpreted in the Loan Agreement shall, when used in this Letter of Guarantee and Undertaking,
have the meanings identical to those in the Loan Agreement.

This Company has carefully read and completely understood all the contents of the Loan
Agreement. This Company hereby fully confirms the obligations which are involved in the Loan
Agreement or which might involve this Company, and this Company has fully realized that the
execution and performance of the Loan Agreement have involved or might involve this Company’s risk
liability.

Pursuant to the Loan Agreement, the Lenders will provide the Borrower with syndicated loans of
not more than RMB One Billion Five Hundred and Twenty-four Million and Six Hundred Thousand Only
(RMB 1,524,600,000) and US Dollar Eighty Million Only (USD 80,000,000). Upon the Borrower’s
request, and for the purpose of guaranteeing the lawful rights and interests of the Lenders, this
Company hereby issues this Letter of Guarantee and Undertaking to the Lenders, and promises to
abide by the following conditions:

	1.	 	This Company hereby unconditionally and irrevocably promises to the Lenders to provide the
joint and several guaranty for the syndicated loans of RMB One Billion Five Hundred and
Twenty-four Million and Six Hundred Thousand Only (RMB 1,524,600,000) and US Dollar Eighty
Million Only (USD 80,000,000), which are provided by the Lenders to the Borrower pursuant to
the Loan Agreement. The scope of guaranty provided by this Company as the guarantor
(hereinafter referred to as “Guaranteed Debts”) shall cover:

	 	(1)	 	the principal and interest of the syndicated loans under the Loan Agreement
at the amount of RMB One Billion Five Hundred and Twenty-four Million and Six Hundred
Thousand Only (RMB 1,524,600,000) and US Dollar Eighty Million Only (USD 80,000,000)
(including any interest, compound interest and penalty interest);

	 
	 	(2)	 	the commission charge under the Loan Agreement, which the Borrower fails to
pay pursuant to the Loan Agreement;

	 
	 	(3)	 	the remedial compensation, liquidated damages and compensation for damage
which arise under the Loan Agreement due to the Borrower’s failure to abide by any
provision of the Loan Agreement;

 

54

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	(4)	 	when the Borrower is unable to repay the above-mentioned money and expenses to the
Lenders, the reasonable legal retainer, notarization fee, valuation and audit fee,
expert demonstration fee, property preservation fee, litigation costs, enforcement
costs, etc. paid by the Lenders for enforcing the creditor’s rights.

	2.	 	This Company shall, within the scope of guaranty promised in Article 1 of this Letter of
Guarantee and Undertaking, bear joint and several liabilities for the Borrower’s all debts,
including the debts announced by the Lenders for advance repayment when the Borrower breaches
the Agreement.

	 
	3.	 	The guaranty obligation of this Company (including this Company’s successor and receiver)
under this Letter of Guarantee and Undertaking shall be continuous, and its duration of
guaranty shall be two (2) years as of the expiry of the period for performance of the
Guaranteed Debts. This Letter of Guarantee and Undertaking shall take effect on the date when
it is executed, until all the Guaranteed Debts have been paid off, and shall not be affected
in any way by the organizational modifications or operational changes of this Company or the
Borrower. The organizational modifications or operational changes mentioned here include but
not limited to division, amalgamation, restructuring, establishment of a joint stock company
by way of system reform, or transaction of property right or management power by lease, etc.
If the Borrower is terminated before paying off the Lenders’ all prepayments, the guaranty
obligation under this Letter of Guarantee and Undertaking shall still be effective.

	 
	4.	 	This Company promises to, with its good commercial credit, provide the Borrower with
guaranty. In the event that the Borrower is unable to or refuses to totally or partially repay
the money, interest, overdue interest, remedial compensation and all costs it owes to the
Lenders under the Loan Agreement, this Company will bear the corresponding share of debts to
the Lenders with all its assets and equities. The Lenders shall have the absolute option over
any of the assets and equities which this Company uses to repay debts, including but not
limited to fixed assets, working capital, raw materials, inventory products, under-development
construction, equity interests, enterprise bonds, treasury bonds, etc. as well as the yields
and interests arising therefrom.

	 
	5.	 	Once an Event of Default agreed upon in the Loan Agreement occurs, this Company promises to,
within ten (10) days after receipt of the Agent Bank’s written notice, unconditionally remit
the equivalent amount of money and expenses owed by the Borrower to the Lenders into the
account designated by the Agent Bank, irrespective of whether there is any dispute between the
Lenders and the Borrower and whether the Lenders waives the mortgage or pledge created under
the Loan Agreement.

	 
	 	 	 If the Borrower has created mortgage or pledge for the Lenders’ benefits with its
own properties, this Company hereby agrees and promises that, if the Lenders waive the
mortgagee’s rights provided by the Borrower or the sequence of the mortgagee’s rights
or modifies any mortgagee’s right or the pledgee’s right provided by the Borrower, this
Company’s scope of guaranty shall not therefore be narrowed, and shall still be the
scope set forth in Article 1 of this Letter of Guarantee and Undertaking. The Lender’s
aforesaid acts will not affect or exempt this Company’s any obligation or guaranty
liability under this Letter of Guarantee and Undertaking. This Company shall not
require its liabilities to be mitigated within the scope of the Lenders’ waiver.
Meanwhile, this Company waives the right to defence against the Lenders’ enforcement of
the mortgaged or pledged property.

 

55

 

			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	6.	 	For achieving the purposes of this Letter of Guarantee and Undertaking, this Company hereby
makes the following representations and warranties:

	 	(1)	 	This Company is an enterprise legal person lawfully established and validly
existing under the laws of Cayman Islands.

	 
	 	(2)	 	This Company has the full capacity for civil rights and that for civil conducts
to carry out its business, execute this Letter of Guarantee and Undertaking, and to
exercise rights and perform obligations pursuant to this Letter of Guarantee and
Undertaking.

	 
	 	(3)	 	The necessary internal procedures for this Company to execute this Letter of
Guarantee and Undertaking, as well as to exercise rights and perform obligations
pursuant to this Letter of Guarantee and Undertaking have been fulfilled, the person
who executes this Letter of Guarantee and Undertaking on behalf of this Company is an
effective authorized representative of this Company, and this Letter of Guarantee and
Undertaking he has executed is binding upon this Company.

	 
	 	(4)	 	This Company’s obligations under this Letter of Guarantee and Undertaking are
lawful and effective, and are binding upon this Company. This Company may perform such
obligations pursuant to this Letter of Guarantee and Undertaking.

	 
	 	(5)	 	This Company’s execution of this Letter of Guarantee and Undertaking and its
performance of the obligations pursuant to this Letter of Guarantee and Undertaking are
not, and will not be in violation of or in conflict with the following contents:

	 	(i)	 	any agreement or contract to which this Company is a party or
any other contractual document binding upon this Company’s any asset;

	 
	 	(ii)	 	this Company’s articles of association and other fundamental
corporate documents;

	 
	 	(iii)	 	any law, regulation, judgment, adjudication or ruling
applicable to this Company.

	 	(6)	 	This Company has obtained all authorizations, consents, approvals and licenses
in connection with the execution and performance of this Letter of Guarantee and
Undertaking or required or needed by this Letter of Guarantee and Undertaking, and such
authorizations, consents, approvals and licenses are lawful and effective.

	 
	 	(7)	 	This Company warrants that, by the date of execution of this Letter of
Guarantee and Undertaking, it is not in any of the following events:

	 	(i)	 	this Company is required by any legal proceeding to close down,
be liquidated, be rectified, go into bankruptcy, or be dissolved, or enters any
other similar proceeding;

	 	(ii)	 	any other contract or agreement that will impair or affect the
Lenders’ interests under this Letter of Guarantee and Undertaking;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	(iii)	 	any major lawsuit, arbitration or administrative penalty that affects this
Company’s capacity to conclude or perform this Letter of Guarantee and
Undertaking;

	 	(iv)	 	other events which are enough to affect this Company’s capacity
of performing the Agreement or the Lenders’ interests under this Letter of
Guarantee and Undertaking.

	 	(8)	 	In any judicial proceeding held in China, to which this Company is a party,
this Company and its assets enjoy no immunity or privilege in initiation of the
lawsuit, judgment rendering, enforcement, property preservation or other legal
proceedings.

	 	(9)	 	This Company’s execution of this Letter of Guarantee and Undertaking and its
exercise of rights and performance of obligations under this Letter of Guarantee and
Undertaking are the commercial acts made for commercial purposes, and are completely
bound by civil and commercial laws.

	 	(10)	 	This Company has disclosed to the Lenders the major debts existing by the date
when this Letter of Guarantee and Undertaking is issued, and there is no untrue or
concealed event.

	7.	 	For achieving the purposes of this Letter of Guarantee and Undertaking, this Company promises
to the Lenders that, within the validity period of the Loan Agreement:

	 	(1)	 	this Company shall maintain its status as an enterprise legal person to exist
lawfully and validly, abide by all laws and regulations applicable to it, and pay all
taxes and fees to be levied by the government authorities;

	 	(2)	 	it will, according to the project investment plan, timely and fully contribute
project capital into the Borrower;

	 	(3)	 	it will guarantee the project capital and the syndicated Fixed Assets Loan to
be contributed at the same proportion, and guarantee that the project capital will be
put into use prior to the syndicated Fixed Assets Loan;

	 	(4)	 	if the project construction funds are overpaid, this Company shall take charge
of urging the Borrower to raise more funds, or this Company shall increase capital to
the Borrower or lend money to the Borrower, so as to make up the insufficiency;

	 	(5)	 	it will guarantee the project engineering work to be started on time, supervise
the project engineering work to be implemented as scheduled, and will provide the
Borrower with supports in respect of project construction, equipment installation and
production technologies, etc;

	 	(6)	 	it will, as required by the Agent Bank, provide the Agent Bank with its basic
documents and accounting information, and guarantee the authenticity, accuracy and
entirety of its basic documents and accounting information provided to the Agent Bank
and the Lenders;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	(7)	 	it will guarantee that the directors appointed by this Company to the Borrower will,
as required by the Loan Agreement, form and adopt all board resolutions of the
Borrower.

	 	(8)	 	it will guarantee that this Company will not, due to the factors such as
related party transactions, cause the Borrower’s interests to be impaired, or affect
the Borrower’s capabilities of making profits and repayments, and will enable the
Borrower to keep normal profitability;

	 	(9)	 	unless upon the consortium’s prior written consent, it will not, prior to the
termination of the Loan Agreement, assign, decrease or pledge its equity rights in the
Borrower, or require the Borrower to pay off the debts to this Company, or accept such
payment;

	 	(10)	 	unless upon the consortium’s prior written consent, it will not, prior to the
termination of the Loan Agreement, exercise its right to require the Borrower to
announce or make any profit distribution;

	 	(11)	 	unless upon the consortium’s prior written consent, it will not, prior to the
termination of the Loan Agreement, exercise its right to require the Borrower to make
major investment or financing;

	 	(12)	 	unless upon the consortium’s prior written consent, it shall not create any new
guaranty on this Company’s any asset, or provide any guaranty for any other person’s
any debt;

	 	(13)	 	this Company warrants that, unless getting the written consent of Majority of
the Lenders, it will not, before the Borrower’s debts are paid off, require the
Borrower to provide guaranty for this Company’s debts, and this Company will not
possess or cut off the Borrower’s funds in any form, or obtain any form of guaranty
right directly or indirectly from the Borrower, and thus decrease the Borrower’s assets
which may be used to repay the debts;

	 	(14)	 	this Company warrants that, so long as the Borrower still has any debt not yet
paid off, or the Lenders have become one of the Borrower’s shareholders, or the Lenders
actually takes over and manages the Borrower, this Company will not make recourse or
claim against the Borrower for the part for which the responsibility of guaranty has
been performed;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	(15)	 	if any of the following events occurs, this Company shall notify the Agent Bank
within seven (7) days as of the date of occurrence of such event:

	 	(i)	 	any event of default or potential event of default;

	 	(ii)	 	any lawsuit, arbitration or other legal proceeding as mentioned in Articles
6.(7) (i) and (iii) of this Letter of Guarantee and Undertaking;

	 	(iii)	 	any event that causes or will, as realized by this Company,
cause Material Adverse Effect;

	 	(16)	 	if, due to a force majeure, this Letter of Guarantee and Undertaking has to be
amended or supplemented, this Company warrants that no change will exempt or mitigate
its liabilities under this Letter of Guarantee and Undertaking, or affect or impair the
interests enjoyed by the Lenders hereunder.

	 	 	This Company guarantees to provide the Agent Bank with this Company’s consolidated financial
statements every year. This Company hereby confirms that each Lender was fully based on
trusting all the above-mentioned representations, warranties and undertakings when executing
the Loan Agreement and performing its obligations under the Loan Agreement.

	8.	 	This Company hereby agrees that, each of the following events constitutes an event of default
under this Letter of Guarantee and Undertaking:

	 	(1)	 	this Company violates any representation, warranty or undertaking made in
Article 6 or Article 7 of this Letter of Guarantee and Undertaking, and fails to,
within ten (10) days as of the date when this Company knows such matter or the date
when the Agent Bank sends a notice requiring this Company to make the remedy, whichever
is earlier, remedy to the satisfactory of the Majority of the Lenders;

	 	(2)	 	this Company is under an circumstance of being materially untrue or incomplete
when any representation, warranty or undertaking in this Letter of Guarantee and
Undertaking is made or reiterated;

	 	(3)	 	this Company fails to appropriately and timely perform or abide by any
obligation under this Letter of Guarantee and Undertaking;

	 	(4)	 	this Letter of Guarantee and Undertaking becomes null and void due to any
cause;

	 	(5)	 	this Company fails to perform any other obligation under this Letter of
Guarantee and Undertaking.

	9.	 	This Company hereby confirms that, (i) if one or more events of default as listed in Article
8 of this Letter of Guarantee and Undertaking occurs; or (ii) any Breaching Event agreed upon
in the Loan Agreement occurs, the Lenders shall have the right to take one or more of the
following measures:

	 	(1)	 	ordering this Company to correct the event of default and take remedial
measures within a time limit;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	(2)	 	charging penalty interest on the amounts in default (including all principal,
interest, penalty interest, losses and expenses) at the penalty interest rate set
forth in the Loan Agreement;

	 
	 	(3)	 	this Company recognizes the Lenders’ calculation of the interest and penalty
interest; with respect to the proof which the Borrower or the successor of its
creditor’s rights uses to show the principal and interest of the Borrower’s any payable
amount under the financing agreement, if it is notified to this Company by collection
letter, newspaper announcement, e-mail, fax, etc., the said proof and notice shall,
unless this Company provides sufficient and effective evidence within 3 days to prove
the existent obvious error, be the final evidence of the debtor-creditor relationship
between both parties, and are binding upon this Company;

	 
	 	(4)	 	withholding the guaranteed amount and all other reasonable expenses paid for
enforcing the withheld money and implementing this Letter of Guarantee and Undertaking
directly from any account opened by this Company at any of the Lenders or its branch,
or having the Agent Bank entrust any other financial institution to withhold such funds
from the account opened at this Company;

	 
	 	(5)	 	applying to China International Economic and Trade Arbitration Commission,
Shanghai Branch for arbitration;

	 
	 	(6)	 	making recourse against this Company in other methods permitted by law.

	 	 	The adoption of the above-mentioned measures in whole or in part shall not affect
the Lenders’ interest deserved and vested under this Letter of Guarantee and
Undertaking or any law.

	 
	10.	 	This Company hereby confirms that it agrees to make any amendment or supplement at any time
to the Loan Agreement and/or the financing documents such as the guaranty contract executed
according to the Loan Agreement. This Company’s guaranty obligation under this Letter of
Guarantee and Undertaking shall not be affected in any way due to such amendment or
supplement. The Borrower and the Lenders agree that, when any amount or debt under the Loan
Agreement is renewed after becoming due in whole or in part, this Letter of Guarantee and
Undertaking shall continue to be effective.

	 
	11.	 	This Company hereby confirms that, the relevant covenants in the Loan Agreement on the
consortium relationship shall apply to this Letter of Guarantee and Undertaking. The Agent
Bank acts as an agent in connection with this Letter of Guarantee and Undertaking, each Lender
shall exercise all its rights under this Letter of Guarantee and Undertaking through the Agent
Bank, and this Company may only perform this Letter of Guarantee and Undertaking to the
Lenders through the Agent Bank, instead of independently performing obligations or bearing the
guaranty liability to all the Lenders.

	 
	12.	 	This Company hereby confirms that, in the event that no notice needs to be sent to this
Company and/or the Borrower, the Lenders shall have the right to authorize its subordinate
branch to perform in the name of the branch the corresponding obligations under the Loan
Agreement and/or the Financing Documents such as the guaranty contract executed by the Lenders
pursuant to the Loan Agreement, or to exercise in the name of the branch the Lenders’
corresponding rights and powers under the aforesaid Financing Documents. This Company hereby
completely accepts such performance or exercise without any objection.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	13.	 	If the parties to the Loan Agreement agree to rescind the Loan Agreement or cause the Loan
Agreement to be terminated in advance, this Letter of Guarantee and Undertaking shall still
be effective, and this Company shall bear joint and several guaranty liabilities for the
losses caused by the Borrower to the Lenders.

	 
	14.	 	If all parties to the Loan Agreement agree to modify any content thereof, unless it is
related to the increase of loan amount and increase of guaranty liabilities accordingly, they
do not have to get the consent of this Company. This Company shall bear joint and several
guaranty liability for the modified Guaranteed Debts. If the parties to the Loan Agreement
increase the loan amount without the consent of this Company, this Company shall still bear
the guaranty liability within the scope of the original amount of loans.

	 
	15.	 	When all or partial loans under the Loan Agreement become due, and the duration of the
agreement is extended or the repayment is postponed, this Letter of Guarantee and Undertaking
shall continue to be effective, and this Company shall continue to bear the guaranty
liability.

	 
	16.	 	All taxes and fees in connection with this Letter of Guarantee and Undertaking (including the
stamp duty and the legal consulting fee under this Letter of Guarantee and Undertaking) shall
be paid or repaid by this Company.

	 
	 	 	Upon request of the Agent Bank, this Company shall immediately make remedial compensation to
the Agent Bank/the Lenders in full amounts for all reasonable expenditures and costs
incurred by the Agent Bank or the Lenders from exercise of rights in any judicial
jurisdiction or under this Letter of Guarantee and Undertaking.

	 
	17.	 	This Company unconditionally and irrevocably guarantees that, any loss incurred by the
Lenders from the Borrower’s failure to perform relevant clauses of the Loan Agreement, from
its partial performance of or delay in performing relevant clauses of the Loan Agreement, from
the void and null of the relevant clause of the Loan Agreement due to a certain cause, or from
this Company’s failure to perform or partial performance of or delay in performing any clause
of this Letter of Guarantee and Undertaking shall become this Company’s independent debt
payable to the Lenders upon claim.

	 
	18.	 	This Company promises that its assignment of the rights and obligations under this Letter of
Guarantee and Undertaking must be upon prior written consent of all the Lenders or subject to
the written agreement reached with the Lenders. Otherwise, the assignment of any right or
obligation shall be legally ineffective.

	 
	19.	 	If any Lender intends to assign any right or obligation under the Loan Agreement to which it
is a party to another Transferee pursuant to the Loan Agreement, such assignment does not have
to be upon the consent of this Company, and such Lender’s right or obligation under this
Letter of Guarantee and Undertaking and corresponding to the aforesaid assigned right or
obligation shall meanwhile be assigned to the Transferee.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	20.	 	In the process of implementation of this Letter of Guarantee and Undertaking, the Lenders’
failure to exercise or timely exercise any right under this Letter of Guarantee and
Undertaking shall not be deemed as their waiver of such right, nor shall it affect this
Company’s any obligation under this Letter of Guarantee and Undertaking.

	 
	 	 	If, at any time, any clause of this Letter of Guarantee and Undertaking becomes illegal,
ineffective or not implementable, the legality, validity or execution of other clauses of
this Letter of Guarantee and Undertaking shall not be affected or impaired in any way.

	 
	21.	 	If the Guaranteed Debts under this Letter of Guarantee and Undertaking have been paid off,
but the payment is confirmed as ineffective or revoked by an authority, this Company shall
continue bearing the guaranty liability, and such event shall not be restricted by the
guaranty period or the limitation of action.

	 
	22.	 	This Company hereby confirms that the effectiveness of this Letter of Guarantee and
Undertaking shall be independent from the Loan Agreement, and shall not become ineffective due
to the ineffectiveness of the Loan Agreement.

	 
	 	 	If the Loan Agreement is ineffective, the effectiveness of this Letter of Guarantee and
Undertaking shall not be affected but shall continue to be effective, and this Company shall
still bear the guaranty liability pursuant to this Letter of Guarantee and Undertaking. If,
due to this Company’s fault, this Letter of Guarantee and Undertaking becomes ineffective,
this Company shall compensate the Lenders’ all losses within the scope of guaranty.

	 
	23.	 	Any notice under this Letter of Guarantee and Undertaking shall be served or sent to the
following address in writing by delivery in person, by mail or by fax:

	 	(1)	 	If to this Company: Trina Solar Limited

Address:

Postcode:

Recipient:

Tel:

Fax:

	 	(2)	 	If to the Agent Bank: Agricultural Bank of China Co., Ltd., Changzhou Xinbei
Sub-branch

Address: 311 Central Tongjiang Road, Xinbei District, Changzhou

Postcode: 213022

Recipient: Wang Jianping

Tel: 0519-85198999

Fax: 0519-85196151

	 	(3)	 	Once the above-mentioned address, postcode, recipient, telephone number or fax
number is changed, the party concerned shall notify the other party within two (2) work
days.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	24.	 	This Letter of Guarantee and Undertaking shall be governed by and be interpreted according
to the laws of China.

	 
	 	 	In the event of any dispute in connection with this Letter of Guarantee and Undertaking, it
shall be settled between the parties in adherence to the principles of friendly
negotiations. If no consensus may be reached through the negotiations, either party may
submit the dispute to China International Economic and Trade Arbitration Commission,
Shanghai Branch for arbitration according to the arbitration rules in effect at the time of
applying for the arbitration. The arbitral award is final and is binding upon both parties.

	 
	25.	 	This Letter of Guarantee and Undertaking shall take effect after being executed and affixed
with the company seal by this Company’s authorized representative. This Letter of Guarantee
and Undertaking shall be written and executed in Chinese.

	 	 	 	 	 
	 

	 	Guarantor:
	 	Trina Solar Limited (Company Seal)
	 
	 	 	 	 
	 

	 	 	 	Authorized Representative: /s/                    
                     (Signature)
	 
	 	 	 	 
	 

	 	 	 	Date: September 28, 2009

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix XI

Gao Jifan, Wu Chunyan

(Acting as the Guarantor)

to

Agricultural Bank of China Co., Ltd., Jiangsu Branch

(Acting as the Leading Bank)

Bank of China Limited, Jiangsu Branch

(Acting as the Co-Leading Bank)

The Export and Import Bank of China, Nanjing Branch

Agricultural Bank of China Co., Ltd., Changzhou Branch

Bank of Communications Co., Ltd., Changzhou Branch

China CITIC Bank Corporation Limited, Changzhou Branch

Bank of China Limited, Changzhou Branch

(Acting as the Lenders )

Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

(Acting as the Agent Bank)

 

Letter of Guarantee

on

Syndicated Loan Agreement for

Solar PV Industry Vertical Integration Product Project with an Annual Capacity of 500MW

 

September 28, 2009

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	 	 	 
	To:

	 	Agricultural Bank of China Co., Ltd., Jiangsu Branch
	 

	 	(Acting as Leading Bank)
	 
	 	 
	 

	 	Bank of China Limited, Jiangsu Branch
	 

	 	(Acting as Co-Leading Bank)
	 
	 	 
	 

	 	The Export and Import Bank of China, Nanjing Branch
	 

	 	Agricultural Bank of China Co., Ltd., Changzhou Branch
	 

	 	Bank of Communications Co., Ltd., Changzhou Branch
	 

	 	China CITIC Bank Corporation Limited, Changzhou Branch
	 

	 	Bank of China Limited, Changzhou Branch
	 

	 	(Acting as the Lenders )
	 
	 	 
	 

	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch
	 

	 	(Acting as Agent Bank)

	 	 	 	 	 
	Recipient:	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch
(Acting as Agent Bank)
	Address:	 	No. 311, Central Tongjiang Road, Xinbei District, Changzhou
	Postcode:

	 	 213022	 	 
	Person-in-Charge:

	 	Xie Zhixin	 	 
	TEL:

	 	 0519-85198999
	 	FAX: 0519-85196151
	Contact Person:

	 	Wang Jianping	 	 
	 
	 	 	 	 
	Re:

	 	Letter of Guarantee	 	 
	 
	 	 	 	 
	Date:

	 	September 28, 2009	 	 

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Dear Sir/Madam,

This Guarantor cautiously mentions that in September 2009, Changzhou Trina Solar Energy Co.,
Ltd. (hereinafter referred to as the “Borrower”) executed the “Syndicated Loan Agreement on the
Solar PV Industry Vertical Integration Product Project with an Annual Capacity of 500MW”
(hereinafter referred to as the “Loan Agreement”) with Agricultural Bank of China Co., Ltd.,
Jiangsu Branch which acts as the leading bank (called the “Leading Bank” when acting in this
identity), Bank of China Limited, Jiangsu Branch which acts as the co-leading bank (called the
“Co-Leading Bank” when acting in this identity), Agricultural Bank of China Co., Ltd., Changzhou
Xinbei Sub-branch which acts as the agent bank (hereinafter referred to as the “Agent Bank”), and
The Export and Import Bank of China, Nanjing Branch, Agricultural Bank of China Co., Ltd.,
Changzhou Branch, Bank of Communications Co., Ltd., Changzhou Branch, China CITIC Bank Corporation
Limited, Changzhou Branch and Bank of China Limited, Changzhou Branch which act as the lenders
(hereinafter collectively referred to as the “Lenders”).

Unless otherwise agreed in this Letter of Guarantee, the terms defined and interpreted in the
Loan Agreement shall, when used in this Letter of Guarantee, have the meanings identical to those
in the Loan Agreement.

This Guarantor has carefully read and completely understood all the contents of the Loan
Agreement. This Guarantor hereby fully confirms the obligations which are involved in the Loan
Agreement or which might involve this Guarantor and this Guarantor has fully realized that the
execution and performance of the Loan Agreement have involved or might involve this Guarantor’s
risk liability.

Pursuant to the Loan Agreement, the Lenders will provide the Borrower with syndicated loans of
not more than RMB One Billion Five Hundred and Twenty-four Million and Six Hundred Thousand Only
(RMB 1,524,600,000) and US Dollar Eighty Million Only (USD 80,000,000). Upon the Borrower’s
request, and for the purpose of guaranteeing the Lenders’ lawful rights and interests, this
Guarantor hereby issues this Letter of Guarantee to the Lenders, and promises to abide by the
following conditions:

	1.	 	This Guarantor hereby unconditionally and irrevocably promises to the Lenders to provide the
joint and several guaranty for the syndicated loans of RMB One Billion Five Hundred and
Twenty-four Million and Six Hundred Thousand Only (RMB 1,524,600,000) and US Dollar Eighty
Million Only (USD 80,000,000), which are provided by the Lenders to the Borrower pursuant to
the Loan Agreement. The scope of guaranty provided by this Guarantor as the guarantor
(hereinafter referred to as “Guaranteed Debts”) shall cover:

	 	(1)	 	the principal and interest of the syndicated loans under the Loan Agreement at
the amount of RMB One Billion Five Hundred and Twenty-four Million and Six Hundred
Thousand Only (RMB 1,524,600,000) and US Dollar Eighty Million Only (USD 80,000,000)
(including any interest, compound interest and penalty interest);

	 	(2)	 	the commission charge under the Loan Agreement, which the Borrower fails to pay
pursuant to the Loan Agreement;

	 	(3)	 	the remedial compensation, liquidated damages and compensation for damage which
arise under the Loan Agreement due to the Borrower’s failure to abide by any provision
of the Loan Agreement;

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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	 	(4)	 	when the Borrower is unable to repay the above-mentioned money and expenses to the
Lenders, the reasonable legal retainer, notarization fee, valuation and audit fee,
expert demonstration fee, property preservation fee, litigation costs, enforcement
costs, etc. paid by the Lenders for enforcing the creditor’s rights.

	2.	 	This Guarantor shall, within the scope of guaranty promised in Article 1 of this Letter of
Guarantee, bear joint and several liabilities for the Borrower’s all debts, including the
debts announced by the Lenders for advance repayment when the Borrower breaches the Agreement.

	3.	 	The guaranty obligation of this Guarantor (including this Guarantor’s successor and receiver)
under this Letter of Guarantee shall be continuous, and its duration of guaranty shall be two
(2) years as of the expiry of the period for performance of the Guaranteed Debts. This Letter
of Guarantee shall take effect on the date when it is executed, until all the Guaranteed Debts
have been paid off, and shall not be affected in any way by the organizational modifications
or operational changes of the Borrower. The organizational modifications or operational
changes mentioned here include but not limited to division, amalgamation, restructuring,
establishment of a joint stock company by way of system reform, or transaction of property
right or management power by lease, etc. If the Borrower is terminated before paying off the
Lenders’ all prepayments, the guaranty obligation under this Letter of Guarantee shall still
be effective.

	4.	 	This Guarantor promises to, with its good commercial credit, provide the Borrower with
guaranty. In the event that the Borrower is unable to or refuses to totally or partially repay
the money, interest, overdue interest, remedial compensation and all costs it owes to the
Lenders under the Loan Agreement, this Guarantor will bear the corresponding share of debts to
the Lenders with all its assets and equities. The Lenders shall have the absolute option over
any of the assets and equities which this Guarantor uses to repay debts, including but not
limited to fixed assets, working capital, raw materials, inventory products, under-development
construction, equity interests, enterprise bonds, treasury bonds, etc. as well as the yields
and interests arising therefrom.

	5.	 	Once an Event of Default agreed upon in the Loan Agreement occurs, this Guarantor promises
to, within ten (10) days after receipt of the Agent Bank’s written notice, unconditionally
remit the equivalent amount of money and expenses owed by the Borrower to the Lenders into the
account designated by the Agent Bank, irrespective of whether there is any dispute between the
Lenders and the Borrower and whether the Lenders waives the mortgage or pledge created under
the Loan Agreement.

	 	 	If the Borrower has created mortgage or pledge for the Lenders’ benefits with its own
properties, this Guarantor hereby agrees and promises that, if the Lenders waive the
mortgagee’s rights provided by the Borrower or the sequence of the mortgagee’s rights or
modifies any mortgagee’s right or the pledgee’s right provided by the Borrower, this
Guarantor’s scope of guaranty shall not therefore be narrowed, and shall still be the scope
set forth in Article 1 of this Letter of Guarantee. The Lender’s aforesaid acts will not
affect or exempt this Guarantor’s any obligation or guaranty liability under this Letter of
Guarantee. This Guarantor shall not require its liabilities to be mitigated within the scope
of the Lenders’ waiver. Meanwhile, this Guarantor waives the right to defence against the
Lenders’ enforcement of the mortgaged or pledged property.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

	6.	 	For achieving the purposes of this Letter of Guarantee, this Guarantor hereby makes the
following representations and warranties:

	 	(1)	 	This Guarantor is an natural with complete civil acts and liabilities.

	 
	 	(2)	 	This Guarantor has the full capacity for civil rights and that for civil
conducts to carry out its business, execute this Letter of Guarantee, and to exercise
rights and perform obligations pursuant to this Letter of Guarantee.

	 
	 	(3)	 	This Guarantor’s obligations under this Letter of Guarantee are lawful and
effective, and are binding upon this Guarantor. This Guarantor may perform such
obligations pursuant to this Letter of Guarantee.

	 
	 	(4)	 	This Guarantor’s execution of this Letter of Guarantee and its performance of
the obligations pursuant to this Letter of Guarantee are not, and will not be in
violation of or in conflict with the following contents:

	 	(i)	 	any agreement or contract to which this Guarantor is a party or
any other contractual document binding upon this Guarantor’s any asset;

	 
	 	(ii)	 	any law, regulation, judgment, adjudication or ruling
applicable to this Guarantor.

	 	(5)	 	This Guarantor warrants that, by the date of execution of this Letter of
Guarantee, it is not in any of the following events:

	 	(i)	 	any other contract or agreement that will impair or affect the
Lenders’ interests under this Letter of Guarantee;

	 
	 	(ii)	 	any major lawsuit, arbitration or administrative penalty that
affects this Guarantor’s capacity to conclude or perform this Letter of
Guarantee;

	 
	 	(iii)	 	other events which are enough to affect this Guarantor’s
capacity of performing the Agreement or the Lenders’ interests under this
Letter of Guarantee.

	 	(6)	 	In any judicial proceeding held in China, to which this Guarantor is a party,
this Guarantor and its assets enjoy no immunity or privilege in initiation of the
lawsuit, judgment rendering, enforcement, property preservation or other legal
proceedings.

	 	(7)	 	This Guarantor’s execution of this Letter of Guarantee and its exercise of
rights and performance of obligations under this Letter of Guarantee are the commercial
acts made for commercial purposes, and are completely bound by civil and commercial
laws.

	 	(8)	 	Guarantor has disclosed to the Lenders the major debts existing by the date
when this Letter of Guarantee is issued, and there is no untrue or concealed event.

 

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	7.	 	For achieving the purposes of this Letter of Guarantee, this Guarantor promises to the
Lenders that, within the validity period of the Loan Agreement:

	 	(1)	 	This Guarantor shall abide by all laws and regulations applicable to it and pay
all taxes and fees to be levied by the government authorities;

	 
	 	(2)	 	Unless with the prior written consent of the Agent Bank, this Guarantor
warrants that: this Guarantor and companies controlled by this Guarantor shall not make
investment equivalent to over 10 million US dollars accumulatively each year, except
for normal stock trading. However, for trade in stock of Trina Solar Limited and
significant asset disposal, this Guarantor shall obtain the prior written consent of
the Agent Bank.

	 
	 	(3)	 	This Guarantor is not required to obtain the prior written consent of the Agent
Bank for accumulatively providing balance of guarantees externally equivalent to not
more than USD 15 million. In case of exceeding the above-mentioned amount, without the
prior written consent of the Agent Bank, no new guarantee shall be set on any asset of
this Guarantor and this Guarantor shall not provide any guarantee for any debt of any
other person.

	 
	 	(4)	 	This Guarantor warrants that, unless with the written consent of the Majority
of Lenders, this Guarantor shall not, before the Borrower has paid off the debt,
require the Borrower to provide guarantee for the debt of this Guarantor, nor this
Guarantor appropriate or intercept the fund of the Borrower in any form, nor directly
or indirectly obtain security interests of any form from the Borrower so that the asset
of the Borrower for the payment of debt is reduced.

	 
	 	(5)	 	This Guarantor warrants that it shall not claim compensation from or make claim
against the Borrower with regard to the part of the guaranty liabilities that have been
performed so long as the Borrower has any outstanding debt to be paid or the Lender has
become one of the shareholders of the Borrower or the Lender actually takes over and
manages the Borrower.

	 
	 	(6)	 	If any of the following events occurs, this Guarantor shall notify the Agent
Bank within seven (7) days as of the date of occurrence of such event:

	 	(i)	 	any event of default or potential event of default;

	 
	 	(ii)	 	any lawsuit, arbitration or other legal proceeding as mentioned
in Articles 6.(6) of this Letter of Guarantee;

	 
	 	(iii)	 	any event that causes or will, as realized by this Guarantor,
cause Material Adverse Effect;

 

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	 	(7)	 	if, due to a force majeure, this Letter of Guarantee has to be amended or
supplemented, this Guarantor warrants that no change will exempt or mitigate its
liabilities under this Letter of Guarantee, or affect or impair the interests enjoyed
by the Lenders hereunder.

	 	 	This Guarantor guarantees to provide the Agent Bank with this Guarantor and its subordinated
companies’ investment plan and explanatory of disposal of assets every year. This Guarantor
hereby confirms that each Lender was fully based on trusting all the above-mentioned
representations, warranties and undertakings when executing the Loan Agreement and
performing its obligations under the Loan Agreement.

	8.	 	This Guarantor hereby agrees that, each of the following events constitutes an event of
default under this Letter of Guarantee:

	 	(1)	 	this Guarantor violates any representation, warranty or undertaking made in
Article 6 or Article 7 of this Letter of Guarantee, and fails to, within ten (10) days
as of the date when this Guarantor knows such matter or the date when the Agent Bank
sends a notice requiring this Guarantor to make the remedy, whichever is earlier,
remedy to the satisfactory of the Majority of Lenders;

	 
	 	(2)	 	this Guarantor is under an circumstance of being materially untrue or
incomplete when any representation, warranty or undertaking in this Letter of Guarantee
is made or reiterated;

	 
	 	(3)	 	any asset of this Guarantor equivalent to more than RMB 10 million or asset
accumulatively amounting to the total equivalent to RMB 20 million is under the
influence of sealing, freezing, seizing, enforcing or other similar legal proceedings,
and this Guarantor fails to be released from such influences or make remedies to the
satisfaction of the Majority of Lenders within thirty (30) days;

	 
	 	(4)	 	this Guarantor fails to appropriately and timely perform or abide by any
obligation under this Letter of Guarantee and Undertaking;

	 
	 	(5)	 	this Letter of Guarantee becomes null and void due to any cause;

	 
	 	(6)	 	this Guarantor fails to perform any other obligation under this Letter of
Guarantee.

	9.	 	This Guarantor hereby confirms that, (i) if one or more events of default as listed in
Article 8 of this Letter of Guarantee occurs; or (ii) any Breaching Event agreed upon in the
Loan Agreement occurs, the Lenders shall have the right to take one or more of the following
measures:

	 	(1)	 	ordering this Guarantor to correct the events of default and take remedial
measures within a time limit;

 

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	 	2009/09

	 	(2)	 	charging penalty interest on the amounts in default (including all principal,
interest, penalty interest, losses and expenses) at the penalty interest rate set forth
in the Loan Agreement;

	 
	 	(3)	 	this Guarantor recognizes the Lenders’ calculation of the interest and penalty
interest; with respect to the proof which the Borrower or the successor of its
creditor’s rights uses to show the principal and interest of the Borrower’s any payable
amount under the financing agreement, if it is notified to this Guarantor by collection
letter, newspaper announcement, e-mail, fax, etc., the said proof and notice shall,
unless this Guarantor provides sufficient and effective evidence within 3 days to prove
the existent obvious error, be the final evidence of the debtor-creditor relationship
between both parties, and are binding upon this Guarantor;

	 
	 	(4)	 	holding the guaranteed amount and all other reasonable expenses paid for
enforcing the withheld money and implementing this Letter of Guarantee directly from
any account opened by this Guarantor at any of the Lenders or its branch, or having the
Agent Bank entrust any other financial institution to withhold such funds from the
account opened at this Guarantor;

	 
	 	(5)	 	lodging a lawsuit to the people’s court where the Agent Bank is located

	 
	 	(6)	 	making recourse against this Guarantor in other methods permitted by law.

	 	 	The adoption of the above-mentioned measures in whole or in part shall not affect
the Lenders’ interest deserved and vested under this Letter of Guarantee or any law.

	 
	10.	 	This Guarantor hereby confirms that it agrees to make any amendment or supplement at any time
to the Loan Agreement and/or the financing documents such as the guaranty contract executed
according to the Loan Agreement. This Guarantor’s guaranty obligation under this Letter of
Guarantee shall not be affected in any way due to such amendment or supplement. The Borrower
and the Lenders agree that, when any amount or debt under the Loan Agreement is renewed after
becoming due in whole or in part, this Letter of Guarantee shall continue to be effective.

	 
	11.	 	This Guarantor hereby confirms that, the relevant covenants in the Loan Agreement on the
consortium relationship shall apply to this Letter of Guarantee. Since the Agent Bank acts as
an agent in connection with this Letter of Guarantee, each Lender shall exercise all its
rights under this Letter of Guarantee through the Agent Bank, and this Guarantor may only
perform this Letter of Guarantee to the Lenders through the Agent Bank, instead of
independently performing obligations or bearing the guaranty liability to all the Lenders.

	 
	12.	 	This Guarantor hereby confirms that, in the event that no notice needs to be sent to this
Guarantor and/or the Borrower, the Lenders shall have the right to authorize its subordinate
branch to perform in the name of the branch the corresponding obligations under the Loan
Agreement and/or the Financing Documents such as the guaranty contract executed by the Lenders
pursuant to the Loan Agreement, or to exercise in the name of the branch the Lenders’
corresponding rights and powers under the aforesaid Financing Documents. This Guarantor hereby
completely accepts such performance or exercise without any objection.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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	13.	 	If the parties to the Loan Agreement agree to rescind the Loan Agreement or cause the Loan
Agreement to be terminated in advance, this Letter of Guarantee shall still be effective,
and this Guarantor shall bear joint and several guaranty liabilities for the losses caused
by the Borrower to the Lenders.

	 
	14.	 	If all parties to the Loan Agreement agree to modify any content thereof, unless it is
related to the increase of loan amount and increase of guaranty liabilities accordingly, they
do not have to get the consent of this Guarantor . This Guarantor shall bear joint and several
guaranty liability for the modified Guaranteed Debts. If the parties to the Loan Agreement
increase the loan amount without the consent of this Company, this Guarantor shall still bear
the guaranty liability within the scope of the original amount of loans.

	 
	15.	 	When all or partial loans under the Loan Agreement become due, and the duration of the
agreement is extended or the repayment is postponed, this Letter of Guarantee shall continue
to be effective, and this Guarantor shall continue to bear the guaranty liability.

	 
	16.	 	All taxes and fees in connection with this Letter of Guarantee (including the stamp duty and
the legal consulting fee under this Letter of Guarantee) shall be paid or repaid by this
Guarantor.

	 
	 	 	Upon request of the Agent Bank, this Guarantor shall immediately make remedial compensation
to the Agent Bank/the Lenders in full amounts for all reasonable expenditures and costs
incurred by the Agent Bank or the Lenders from exercise of rights in any judicial
jurisdiction or under this Letter of Guarantee.

	 
	17.	 	This Guarantor unconditionally and irrevocably guarantees that, any loss incurred by the
Lenders from the Borrower’s failure to perform relevant clauses of the Loan Agreement, from
its partial performance of or delay in performing relevant clauses of the Loan Agreement, from
the void and null of the relevant clause of the Loan Agreement due to a certain cause, or from
this Guarantor’s failure to perform or partial performance of or delay in performing any
clause of this Letter of Guarantee shall become this Guarantor’s independent debt payable to
the Lenders upon claim.

	 
	18.	 	This Guarantor promises that its assignment of the rights and obligations under this Letter
of Guarantee must be upon prior written consent of all the Lenders or subject to the written
agreement reached with the Lenders. Otherwise, the assignment of any right or obligation shall
be legally ineffective.

	 
	19.	 	If any Lender intends to assign any right or obligation under the Loan Agreement to which it
is a party to another Transferee pursuant to the Loan Agreement, such assignment does not have
to be upon the consent of this Guarantor, and such Lender’s right or obligation under this
Letter of Guarantee and corresponding to the aforesaid assigned right or obligation shall
meanwhile be assigned to the Transferee.

	 
	20.	 	In the process of implementation of this Letter of Guarantee, the Lenders’ failure to
exercise or timely exercise any right under this Letter of Guarantee shall not be deemed as
their waiver of such right, nor shall it affect this Guarantor’s any obligation under this
Letter of Guarantee.

	 
	 	 	If, at any time, any clause of this Letter of Guarantee becomes illegal, ineffective or not
implementable, the legality, validity or execution of other clauses of this Letter of
Guarantee shall not be affected or impaired in any way.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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	21.	 	If the Guaranteed Debts under this Letter of Guarantee have been paid off, but the payment
is confirmed as ineffective or revoked by an authority, this Guarantor shall continue
bearing the guaranty liability, and such event shall not be restricted by the guaranty
period or the limitation of action.

	 
	22.	 	This Guarantor hereby confirms that the effectiveness of this Letter of Guarantee shall be
independent from the Loan Agreement, and shall not become ineffective due to the
ineffectiveness of the Loan Agreement.

	 
	 	 	If the Loan Agreement is ineffective, the effectiveness of this Letter of Guarantee shall
not be affected but shall continue to be effective, and this Guarantor shall still bear the
guaranty liability pursuant to this Letter of Guarantee. If, due to this Guarantor’s fault,
this Letter of Guarantee becomes ineffective, this Guarantor shall compensate the Lenders’
all losses within the scope of guaranty.

	 
	23.	 	Any notice under this Letter of Guarantee shall be served or sent to the following address in
writing by delivery in person, by mail or by fax:

	 	(1)	 	If to this Guarantor: Changzhou Trina Solar Energy Co., Ltd. Limited

Address: No. 2, Tianhe Road, Electronic Industry Park, Xinbei District, Changzhou

Postcode: 213031

Recipient: Gao Jifan

Tel: 0519-85176833

Fax: 0519-85176913

	 	(2)	 	If to the Agent Bank: Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

Address: 311, Central Tongjiang Road, Xinbei District, Changzhou

Postcode: 213022

Recipient: Wang Jianping

Tel: 0519-85198999

Fax: 0519-85196151

	 	(3)	 	Once the above-mentioned address, postcode, recipient, telephone number or
fax number is changed, the party concerned shall notify the other party within two (2)
work days.

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
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	24.	 	This Letter of Guarantee shall be governed by and be interpreted according to the laws of
China.

	 
	 	 	In case of the occurrence of any dispute in connection with this Letter of Guarantee, the
parties shall resolve the same in the principle of friendly consultation. If no agreement is
reached through consultation, such dispute shall be governed by the people’s court of the
place where the Agent Bank is located.

	 
	25.	 	This Letter of Guarantee shall take effect after being executed by this Guarantor. This
Letter of Guarantee shall be written and executed in Chinese.

	 	 	 	 	 	 	 
	 

	 	Guarantor:
	 	Gao Jifan
	 	/s/ Gao Jifan (Signature)
	 
	 	 	 	 	 	 
	 

	 	 	 	Wu Chunyan
	 	/s/ Wu Chunyan (Signature)
	 
	 	 	 	 	 	 
	 	 	Date: September 28, 2009	 	 

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix XII

Form of Funds Supervision Agreement

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix XIII

Form of Transfer Certificate

 

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	Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Agreement
	 	2009/09

Appendix XIV

Form of Transferred Committed Loan Amount

 

77Exhibit 4.25

Exhibit 4.25

 
			
	 	 	 
	Changzhou Trina Solar Energy Co., Ltd. Syndicated Maximum Amount Property Mortgage Contract
	 	2009/09

Translation

Changzhou Trina Solar Energy Co., Ltd.

(As a Mortgagor)

Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch

(As the Agent Bank)

 

Maximum Amount Property Mortgage Contract

Syndicated Loan Agreement for

Solar PV Industry Vertical Integration Product Project with the Annual Productivity of 500MW

 

September 28, 2009

 

 

The Maximum Amount Property Mortgage Contract herein (No.: Changzhou Trina Solar Energy Co., Ltd.
Syndicated Loan Mortgage No. 001) is signed by the following parties at Xinbei District of
Changzhou City on September 28, 2009.

	1.	 	Changzhou Trina Solar Energy Co., Ltd. Limited, a limited company organized in Changzhou,
Jiangsu Province under the laws of the People’s Republic of China with the registered address
at No. 2 Tianhe Road, Electronic Industrial Park, Xinbei District, Changzhou, Jiangsu
Province, is the Mortgagor of the contract (hereinafter referred to as “the Mortgagor”).

	2.	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch as the agent of the
mortgage (hereinafter referred to as “the Agent Bank”).

Whereas,

	1.	 	The Syndicated Loan Agreement on the Solar PV Industry Vertical Integration Product Project
with the Annual Capacity of 500MW (hereinafter referred to as Loan Agreement) is made and
entered into by and among Changzhou Trina Solar Energy Co., Ltd. as the Borrower (hereinafter
referred to as “the Borrower”), Agricultural Bank of China Co., Ltd., Jiangsu Branch, as the
Leading Bank, Bank of China Limited, Jiangsu Branch, as the Co-leading Bank, Agricultural Bank
of China Co., Ltd., Changzhou Xinbei Sub-branch, as the Agent Bank, and the financial
institutions set forth in the appendix I of the Syndicated Loan Agreement as the Lenders
(hereinafter referred to as “the Lenders”) in September 2009.

	2.	 	The Mortgagor hereby agrees to mortgage the related assets it owns to the Export-Import Bank
of China, Nanjing Branch, Agricultural Bank of China Co., Ltd., Changzhou Branch, Bank of
Communications Co., Ltd., Changzhou Branch, China CITIC Bank Corporation Limited, Changzhou
Branch and Bank of China Limited, Changzhou Branch (hereinafter referred to as “the
Mortgagee”) for guaranteeing the Borrower’s performance of the Loan Agreement.

	3.	 	In accordance with Article 18 of the Loan Agreement, the Mortgagor shall sign a maximum
amount property mortgage contract with the Agent Bank which acts as the agent of the
Mortgagee.

NOW, THEREFORE, THE TWO PARTIES AGREE AS FOLLOWS:

	1.	 	Definition and Interpretation

	 
	 	 	Except as otherwise stipulated in the Maximum Amount Property Mortgage Contract, the meanings of
the terms defined and interpreted in the Maximum Amount Property Mortgage Contract have the same
meanings as defined in the Loan Agreement.

 

2

 

	2.	 	Mortgage

2.1 The Mortgagor uses the property set forth in the attachment hereof as the mortgage guarantee
for the Borrower’s performance of the Loan Agreement, and the Mortgagor and the Agent Bank shall
sign a mortgage list (hereinafter referred to as the “Mortgage List”) which is identical in format
and content to the attachment hereof at the day appointed by the Agent Bank. The list shall set
forth the information relating to the mortgage used by the Mortgagor for the mortgage guarantee
hereunder.

2.2 In case the Mortgage includes assets which liquidity is limited by laws, the Mortgagor is under
the obligation to record all the related information on the Mortgage List. Where the assets which
liquidity is limited by laws is used for the mortgage guarantee, the Mortgagor shall assist the
Agent Bank in going through the related formalities, so as to ensure that the right to mortgage is
effectively and legally established.

2.3 The value of the mortgage as of September 28, 2009 is RMB seventy-four million (RMB 74
million).

2.4 In case of loss, damage and confiscation to the mortgage during the mortgage period, the
Mortgagee shall be given top priority in being indemnified by the insurance compensation, damages
and compensation the Mortgagor received. Where the performance period of the secured Lender’s
rights is not expired, the insurance compensation, damages and compensation may be drawn.

	3.	 	Scope of the Guarantee

3.1 The master contract of the Maximum Amount Property Mortgage Contract includes the Loan
Agreement and all the amendments or supplementary agreements and the single agreement or contract
which have signed or will be signed pursuant to the Loan Agreement (hereinafter referred to as the
“Master Contract”).

3.2 The principal Lender’s right guaranteed by the Mortgage hereunder is the principal amount of
the loan granted to the Borrower by the Lenders occurred during the period of validity of the
Master Contract with the total amount of not exceeding RMB one billion five hundred and twenty four
million six hundred thousand (RMB 1,524,600,000) and USD eighty million (USD 80,000,000)
(hereinafter referred to as “the Principal Lender’s Right” ).

3.3 The maximum amount of claims the Mortgage guaranteed (hereinafter referred to as the Guaranteed
Debt) hereunder is the summation of the following:

(1) The Principal Lender’s Right

(2) The interest accrued by the Principal Lender’s Right (including legal interest, contracted
interest, compound interest and penal interest)

(3) The commission that the Borrower failed to pay under the Loan Agreement during the period
of validity of the Loan Agreement.

(4) The penalty, damages and all the cost arising from the Agent Bank and Lenders’ efforts to
obtain the security interest for the Maximum Amount Property Mortgage Contract (including but not
limited to the legal costs and attorney fees).

3.4 The performance period of the Guaranteed Debt is sixty (60) months after the Withdrawal Date of
the first Loan Funds by the Borrower.

 

3

 

	4.	 	Period for exercising the right to mortgage

4.1 The Mortgagee shall exercise the right to mortgage hereunder within the limitation of actions.

	5.	 	Independence

5.1 The Mortgagor’s liability for guarantee hereunder is in continuity and its validity remains in
force during the limitation of actions of the Principal Lender’s Right and will not be affected by
any change in organization, mode of operation and contents of the Mortgagor.

5.2 The effectiveness of the Maximum Amount Property Mortgage Contract is independent of the Loan
Agreement and its effectiveness shall not be affected in the event that the Loan Agreement becomes
invalid. In the event that the Loan Agreement is invalid or rescinded, the Mortgagor shall still
take the responsibility of guarantee hereunder. In the event that the Maximum Amount Property
Mortgage Contract becomes invalid or be rescinded due to the Mortgagor’s fault, the Mortgagor shall
indemnify all of the Mortgagee’s losses within the scope of Guaranteed Debt.

5.3 The Maximum Amount Property Mortgage Contract shall not be affected by any amendment,
supplementary amendment or amendment to the Loan Agreement and/or the provisions of any other
Financing Documents signed in accordance with the Loan Agreement.

5.4 The effectiveness of the Maximum Amount Property Mortgage Contract and the Mortgage hereunder
shall not be affected by any person’s liquidation, merger, spin-off, restructuring, bankruptcy or
any other change in terms of organization, or any other arrangement for the Borrower’s debt.

5.5 The Mortgage hereunder is owned by the Mortgagee and the Agent Bank in accordance with the
legal provision or other guarantee document. The ownership of the Mortgage is beyond any other
guarantee, right, authority and any other relief and it can be accumulated with and will be
independent of any other right, authority or relief.

5.6 Both the Mortgagor and the Mortgagee confirm and agree: in case any Lender assign any of its
rights and obligations under the Loan Agreement in accordance with the stipulations of the Loan
Agreement to any Transferee, the Lender’s rights and obligations hereunder, which correspond to the
assigned rights and obligations, shall also be assigned to the Transferee. the Mortgagor hereby
agrees that it will take the responsibility for the guarantee for the foregoing guarantee hereunder
and will provide assistance for the Transferee in going through the registration and change
formalities relating to the Mortgage.

 

4

 

	6.	 	Mortgage Registration

6.1 The Agent Bank and the Mortgagor shall go to the competent department to go through the
registration formalities for the Mortgage five (5) days after signing the Mortgage List in
accordance with the laws and regulations of the People’s Republic of China.

6.2 In case that the foregoing Mortgage List is signed in batch based on the conditions of the
Mortgage, the Mortgagor is under the obligation to go through the mortgage registration formalities
for the signed portion of the Mortgage List in accordance with the Agent Bank’s requests from time
to time and Article 6.1 hereof.

6.3 At the time of going through the formalities to register the Mortgage pursuant to the Maximum
Amount Property Mortgage Contract, the Mortgagor shall submit the certificate of title, certificate
of right to use, other rights certificate and documents related to the property title to the Agent
Bank for keeping. Upon the Mortgagor’s written application, the Agent Bank shall return the
foregoing certificates to the Mortgagor ten (10) days after the Guaranteed Debt is settled. The
Agent Bank shall provide assistance for the Mortgagor in cancelling the formalities relating to the
Mortgage registration and the Mortgagor shall bear the related cost.

6.4 In case of any change in the items for mortgage registration and the original registration
shall be changed in accordance with laws, the Mortgagor and the Agent Bank shall go to the
competent department to go through the registration change formalities within fifteen (15) days
after the registration items are changed.

	7.	 	Effectiveness of the Mortgage

7.1 The Maximum Amount Property Mortgage Contract shall come into effect at the date it is signed
by the Mortgagor and the Agent Bank, the right to mortgage of the Mortgage set forth in the
Mortgage List is created since the date at which the Maximum Amount Property Mortgage Contract is
signed; provided, however, that the right to mortgage of the Mortgage set forth in the Mortgage
List is created at the time the mortgage registration is completed in accordance with the laws and
regulations of the People’s Republic of China.

	8.	 	Insurance

8.1 The Mortgagor shall cover the risk for the Mortgage within three (3) days after the conditions
for insurance are obtained. The insurer shall be an insurance company with solid financial strength
and good reputation and the type of insurance shall be property all risk (including machinery
breakdown risk). The scope for insurance coverage shall comply with the industry standard and the
related state regulations for insurance. The insured amount shall be no less than the market value
of the mortgage. And the Mortgagor shall notify the Agent Bank three (3) days after the insurance
is taken out. During the agreed period of guarantee hereunder, the Mortgagor shall not interrupt
any insurance required by the Agent Bank.

8.2 The insurance policy of the insurance taken out in accordance with Article 8.1 hereof shall set
forth that the Agent Bank is the first beneficiary. In case of loss to the property under the
insurance, the Agent Bank is entitled to use the insurance indemnities for the repair of the
damaged property. In the event that the damaged property cannot be repaired, the insurance
indemnities shall be regarded as the additional security deposit and remitted to the Special
Repayment Account the Mortgagor has with the Agent Bank.

 

5

 

8.3 The Mortgagor shall provide the Agent Bank with the insurance policy or insurance certificate
or the original or copy of any certificate acceptable to the Agent Bank that can adequately prove
the existence of the insurance policy in accordance with the Agent Bank’s reasonable requests from
time to time.

8.4 In case that the Mortgagor failed to take out the insurance in accordance with Article 8.1 and
Article 8.2 in the Maximum Amount Property Mortgage Contract and the Borrower failed to remedy the
failure after receiving the written notification within the time specified in the written
notification, the Agent Bank is entitled to select an insurer to take out the related insurance
based on the insurance type and insured amount specified in Article 8.1 in the Maximum Amount
Property Mortgage Contract and the premium shall be borne by the Mortgagor.

	9.	 	The fulfillment of the right to mortgage

9.1 In case of any of the Breaching Events specified in Article 12 in the Maximum Amount Property
Mortgage Contract, the Agent Bank is entitled to dispose of the Mortgage by auction, realization or
sale by discount. The disposition of the proceeds from the Mortgage shall be limited to the amount
of the Guaranteed Debt and the proceeds will be distributed to the Lenders based on the proportion
each of the Lender’ s rights accounted for in the total Lender’s rights. Moreover, further
treatment shall be made based on the following circumstances:

(1) In case of any Breaching Events specified in Article 22.01 in the Loan Agreement, the
proceeds from the disposition of Mortgage by the Agent Bank shall be used to repay the Guaranteed
Debt, distribute in the sequence agreed in Article 16.04 in the Loan Agreement and repaid to each
of the Lenders in accordance with the repayment procedure agreed in the Loan Agreement.

(2) In the event that no Breaching Events specified in Article 22.01 in the Loan Agreement
occur, the proceeds the Agent Bank obtained from the disposition of the Mortgage shall be used to
repay the Guaranteed Debt. If there is a balance, the balance will be remitted to the Special
Repayment Account the Mortgagor has with the Agent Bank.

9.2 During the process that the Agent Bank disposes of the Mortgage in accordance with Article 9.1
in the Maximum Amount Property Mortgage Contract, the Agent Bank is entitled to take the following
actions:

	 	(1)	 	Within the permit of the law, the Agent Bank is entitled to dispose of the Mortgage
at the market price based on fair value and the discretion of the Agent Bank and will not
take any responsibility for the loss occurred to the Mortgagor.

	 	(2)	 	The Agent Bank may require the Mortgagor to pay the necessary expense due to the
Agent Bank’s performance of any right entitled by the law or the Maximum Amount Property
Mortgage Contract.

	 	(3)	 	With regard to any claim relating to or in connection with the Mortgage, the Agent
Bank may settle or reach a compromise or submit the claim for arbitration, or file an
action or exercise the related rights in any means at the Agent Bank’s discretion or allow
other person to exercise the related rights.

	 	(4)	 	The Agent Bank may exercise any right entitled by law or take any action permitted by
the law to realize any of its rights and interests under the Maximum Amount Property
Mortgage Contract.

The Agent Bank may exercise all or part of the foregoing rights or defer exercising any rights.

 

6

 

9.3 In the event that the proceeds resulting from the disposition of the Mortgage hereunder by the
Agent Bank in accordance with the agreement in Article 9.1 herein are more than the guarantee scope
agreed in Article 3 hereof, the exceeding amount shall be owned by the Mortgagor.

9.4 In case any third party files any claim for the Mortgage due to any reason, or has any
objection to the disposition of the Mortgage, the Mortgagor shall take any responsibility and
consequence thereof. The claim and objection of any third party will not affect the Agent Bank’s
disposition of the Mortgage in accordance with the agreement made in the Maximum Amount Property
Mortgage Contract.

	10.	 	Representations and Warranties

10.1 The Mortgagor hereby makes the following representations and warranties to the Mortgagee.

(1) The Mortgagor is a limited company organized and existing under the laws of the People’s
Republic of China.

(2) The Mortgagor has full legal capacity for civil rights and capacity for civil disposition
to conduct its business, sign the Maximum Amount Property Mortgage Contract and perform its rights
and obligations hereunder.

(3) The Mortgagor has completed the internal procedures for signing the Maximum Amount
Property Mortgage Contract and performing the rights and obligations hereunder. The person
representing the Mortgagor to sign the Maximum Amount Property Mortgage Contract is the Mortgagor’s
effectively authorized representative and the Maximum Amount Property Mortgage Contract the
representative signed is binding upon the Mortgagor.

(4) The obligations of the Mortgagor hereunder are legal, effective and binding upon the
Mortgagor and can be performed in accordance with the Maximum Amount Property Mortgage Contract.

(5) The Mortgagor’s signing of the Maximum Amount Property Mortgage Contract and its
performance of the rights and obligations hereunder shall not or will not conflict with or violate
the following documents.

	 	(i)	 	Any agreement, contract or document affecting its assets structure in which the
Mortgagor is a party;

	 
	 	(ii)	 	The Articles of Association of the Mortgagor or the fundamental document of other
company, or

	 
	 	(iii)	 	Any applicable laws, regulations, judgment, award or verdict to the Mortgagor.

(6) The Mortgagor has obtained all the authorization, consent, approval and permit relating to
the formulation and performance of Maximum Amount Property Mortgage Contract, or required by the
implementation of the transaction hereof, moreover, the authorization, consent, approval and permit
are legal and effective.

(7) The Mortgagor’s signing of the Maximum Amount Property Mortgage Contract and its
performance of the rights and obligations hereunder are commercial acts for commercial purposes,
which are fully binding upon by the civil and commercial laws.

 

7

 

(8) In any of the legal procedures held in China in which the Mortgagor is a party, the
Mortgagor or its assets will not enjoy any right of immunity or privilege in prosecution, award,
implementation, property preservation or other legal procedures.

(9) No person has initialed any legal procedures against the Mortgagor, which results in
shut-down, liquidation, reorganization, bankruptcy, dissolution or the similar procedures for the
Mortgagor.

(10) The Mortgagor lawfully has the title to and the right of disposition of the Mortgage. In
case that the Mortgage shall be approved or permitted by the related party in advance, the
Mortgagor shall guarantee that it has obtained the legal and effective approval and consent.

(11) The Mortgage set forth in the attachment hereof is not in connection with any dispute
related to the right of title and/or disposition and it can be taken as the subject for mortgage
guarantee. In case the Mortgage shall be approved or permitted by the related party in advance, the
Mortgagor shall guarantee that it have obtained the legal and effective approval and consent.

(12) Except as the guarantee established by the Maximum Amount Property Mortgage Contract, the
Mortgage is not in connection with any guarantee, co-ownership, any third party’s rights and
interests, any ownership dispute or any other circumstance that may result in adverse impact upon
the Mortgagee’s exercise of the right to mortgage.

10.2 The Mortgagor hereby confirms that the Mortgagee authorizes the Agent Bank to sign the Maximum
Amount Property Mortgage Contract and fulfill the obligations hereunder based on its absolute
reliance on the foregoing representations and warranties.

10.3 The foregoing representations and warranties made by the Mortgagor shall be absolute correct
during the period of validity of the Maximum Amount Property Mortgage Contract and the Mortgagor
shall guarantee to further provide the related documents from time to time based on the requests of
the Agent Bank.

	11.	 	Undertaking

From the effective date of the Maximum Amount Property Mortgage Contract to the termination of the
rights and obligations hereof, the Mortgagor promises the Mortgagee:

11.1 The Mortgagor shall maintain its status as a legal person and its effective existence. And
the Mortgagor shall comply with all the applicable laws and regulations and pay all the taxes
imposed by the government.

11.2 The Mortgagor shall guarantee that its business nature and business scope will not witness any
change that may result in Material Adverse Effect.

11.3 Except that the Mortgage is disposed in accordance with the agreement of the Maximum Amount
Property Mortgage Contract, the Mortgage set forth in the attachment hereof shall be held and kept
by the Mortgagor and shall also be held and kept by the Mortgagor during the period of validity of
the Maximum Amount Property Mortgage Contract.

 

8

 

11.4 In case of any of the following events, the Mortgagor shall notify the Agent Bank within three
(3) days after the occurrence of the foregoing events:

(1) Any of the events of default set forth in Article 12.1 in the Maximum Amount Property
Mortgage Contract.

(2) Any lawsuit, arbitration and legal procedures specified in (8) and (9) under Article 10.1
hereof.

(3) Any ownership dispute or the measures, including but not limited to seal up, seizure,
freeze, supervision, etc, due to the Mortgage.

(4) Loss, damage or the devaluation of the Mortgage.

(5) Any events that has resulted in or may result in Material Adverse Effect at the
Mortgagor’s discretion.

11.5 The Mortgagor shall provide the Agent Bank with all the documents and data relating to the
Mortgage hereunder based on the Agent Bank’s requests from time to time and guarantee the
authenticity, correctness and completeness of the foregoing data.

11.6 The Mortgagor shall show the Agent Bank the detailed defect of the Mortgage set forth in the
attachment hereof and repair or make up the defect in accordance with the requests of the Agent
Bank.

11.7 In case the Mortgage including the property whose liquidity is restricted by law is leased or
mortgaged, the Mortgagor is under the obligation to make indications in the attachment hereof. In
case the Mortgagor failed to make indications and loss occurred to the Agent Bank during its
fulfillment of the right to mortgage, the Mortgagor shall indemnify the related loss.

11.8 The Mortgagor shall keep the Mortgage in a proper way and shall repair and maintain the
Mortgage, so as to ensure that the Mortgage is free from any damage. The Mortgagor shall cooperate
with the Agent Bank and the intermediary in investigating and inspecting the Mortgage and adopt the
suggestions put forward by the Agent Bank in the investigation and inspection and take proper
measures to keep the Mortgage in good condition. The Mortgagor shall provide the Agent Bank with
the inspection report of the Mortgage on schedule and make detailed explanations about the
conditions of the Mortgage based on the Agent Bank’s requests from time to time.

11.9 The Mortgagor shall go through the formalities relating to the evaluation, notarization,
appraisal and preserve of the Mortgage set forth in the attachment hereof and assist the Agent Bank
in going through the registration formalities related to the Mortgage set forth in the attachment
hereof. And the Mortgagor shall bear all the cost relating to the foregoing formalities.

11.10 The Mortgagor shall take out the insurance for the Mortgage set forth in the attachment
hereof in accordance with the agreement in Article 8.1 and Article 8.2.

11.11 Except as the mortgage established in accordance with the Maximum Amount Property Mortgage
Contract, the Mortgagor shall not establish a guarantee or allow any other person as the
beneficiary of the guarantee without the prior written consent of the Agent Bank.

 

9

 

11.12 Without the prior written consent of the Agent Bank, the Mortgage shall not sell, lease,
transfer, assign, contract, grant, remortgage or buy a share in kind with the Mortgage set forth in
the attachment hereof or dispose the foregoing Mortgage in any other means.

11.13 With the prior written consent of the Agent Bank, the proceeds obtained by the Mortgagor by
transferring any of the Mortgage set forth in the attachment hereof shall be implemented in
accordance with the agreement in Article 9 hereof. In case that the Agent Bank thinks the proceeds
the Mortgagor will obtain through assignment is evidently less than the value of the Mortgage, the
Mortgagor shall provide the corresponding guarantee based on the requirement of the Agent Bank.

In any circumstance, the Mortgagor shall not damage the Mortgagee’s interest when the Mortgagor
assigns the Mortgage set forth in the attachment hereof based on the agreement of the Maximum
Amount Property Mortgage Contract.

11.14. In case of devaluation of the Mortgage set forth in the attachment hereof due to the
Mortgagor’s act, the Mortgagor shall immediately stop the foregoing act and notify the Agent Bank
of the information about the devaluation of the foregoing Mortgage and at the same time restore the
value of the Mortgage within a reasonable period or provide the Agent Bank with property mortgage
or guarantee acceptable to the Agent Bank and amounting to the devaluated amount of the Mortgage.
Moreover, the Mortgagor shall go through the formalities relating to the evaluation and
registration of the foregoing property mortgage or guarantee.

11.15 The Mortgagor shall not take any measures to carry out merger, spin-off, shut-down,
reorganization, liquidation, bankruptcy, dissolution or any other similar procedure without the
prior written consent of the Agent Bank.

11.16 In case that any third party uses his /her or its property to establish mortgage and/or
pledge for the Mortgagee’s rights by providing guarantee (including but not limited to guarantee,
mortgage, pledge and other guarantee modes) to the Guaranteed Debt specified in Article 3 hereof,
and the Mortgagee abandons the right to mortgage provided by the third party, the order of the
right to mortgage or the change of the right to mortgage or the right of pledge provided by any
third party, the guarantee scope of the Mortgagor will not be narrowed and shall still be the scope
prescribed in Article 3 hereof. The foregoing acts of the Mortgagee shall not affect or exempt the
Mortgagor from any of the rights and guarantee obligation hereunder. The Mortgagor shall not
require the Mortgagee to relieve the Mortgagor’s liabilities within the scope of the abandonment.
At the same time, the Mortgagor waives to require the Mortgagee to execute the right to defense of
the third party’s mortgage and/or pledge.

	12.	 	Events of Default

12.1 Any of the following circumstances constitutes events of default:

(1) Any Breaching Events agreed in the Loan Agreement;

(2) Any events of default in terms of the guarantee agreement of contract in which any third
party who provides guarantee (including but not limited to guarantee, mortgage, pledge and any
other guarantee) for the Principal Lender’s Rights set forth in Article 3 hereof, excepted that the
Guaranteed Debt under the guarantee agreement and contract applicable to the third party is not
more than RMB 1 million (RMB1,000,000) or equivalent in other currencies.

 

10

 

(3) The Mortgagor violates the representations and warranties made in Article 10 or the
undertaking in Article 11 hereof and the violations failed to be remedied by the Mortgagor to the
Agent Bank’s satisfaction within ten (10) days since the earlier day of the following: the day of
the Mortgagor knowing the violations or the day of the Agent Bank notifying the Mortgagor of the
violations and requiring the Mortgagor to take remedy measures.

(4) The Mortgagor fails to show the Agent Bank any of the defects of the Mortgage set forth in
the attachment hereof and the violations failed to be remedied by the Mortgagor to the Agent Bank’s
satisfaction within ten (10) days since the earlier day of the following: the day of the Mortgagor
knowing the violations or the day of the Agent Bank notifying the Mortgagor of the violations and
requiring the Mortgagor to take remedy measures.

(5) The Mortgagor fails to take out the insurance for the Mortgage in accordance with the
agreement hereof and the violations failed to be remedied by the Mortgagor to the Agent Bank’s
satisfaction within three (3) days from the day of the Agent Bank requiring the Mortgagor to take
remedy measures.

(6) The Mortgagor fails to go through the registration formalities for the Mortgage in
accordance with the agreement hereof and the violations failed to be remedied by the Mortgagor to
the Agent Bank’s satisfaction within three (3) days from the day of the Agent Bank requiring the
Mortgagor to take remedy measures.

(7) The Mortgagor violates the agreement hereof and sells, leases, transfers, assigns, grants
and remortgages the Mortgage, or invests in kind of contribution to form the equity, or disposes
the Mortgage with any other means at its own discretion.

(8) The Mortgagor withholds the information about the co-ownership, dispute, seal-up or
seizure of the Mortgage or the Mortgage has been mortgaged.

(9) The Mortgage held and kept by the Mortgagor is lost or damaged, but the insurance for the
Mortgage is not taken out or the related insurance company refuses to indemnify for the loss or
damage due to any reason.

(10) The Mortgagor precludes the Agent Bank from disposing the Mortgage in accordance with the
agreement made in Article 9 hereof with any means (including doing something or omitting to do
something).

(11) The Mortgagor failed to perform other obligations hereunder.

(12) Any event that the Mortgagee thinks may result in Material Adverse Effect on the
Mortgagee’s rights hereunder.

12.2 In case of any of the events of default specified in Article 12.1, the Agent Bank may take one
or many of the following measures:

(1) To notify the Borrower and declare that the Loan Agreement will terminate, and the
Mortgagee will not accept the Borrower’s application for loan.

 

11

 

(2) To notify the Mortgagor in written and declare to dispose of the Mortgage by auction,
realization and sale with discount. And the proceeds from the disposition will be implemented in
accordance with the agreement made in Article 9 hereof.

(3) To notify the Borrower in writing and require the Borrower to provide otherwise guarantee
for the Loan Agreement.

(4) To notify the Mortgagor in writing, in case the Mortgagor fails to remedy the violations
to the Agent Bank’s satisfaction within ten (10) days after the violations, the Agent Bank is
entitled to require the Mortgagor to pay a penalty based on 5% of the balance of the Principle
Lender’s Rights without any delay.

(5) To notify the Mortgagor in writing and require the Mortgagor to pay damages to indemnify
the Agent Bank all the direct and indirect loss (including but not limited to the Guaranteed Debt)
due to the foregoing violations.

(6) To lodge a lawsuit in the People’s Court where the Maximum Amount Property Mortgage
Contract is signed.

(7) To exercise the other rights entitled by the laws and under the Maximum Amount Property
Mortgage Contract.

12.3 The penalty and damages referred to in (4) and (5) under Article 12.2 hereof constitute an
independent and payment on demand debt incurred by the Mortgagor to the Mortgagee.

12.4 Upon the Lenders’ requests with written evidence, the Mortgagor shall indemnify any of the
Lenders the loss, cost (including but not limited to the reasonable attorney fees, legal costs,
etc) and expense due to any events of default or the Mortgagor’s failure to fulfill any of the
obligations hereunder. However, the Lender shall exercise the foregoing rights through the Agent
Bank.

	13.	 	Expenses

13.1 Any and all taxes and expenses in regard to this Maximum Amount Property Mortgage Contract as
well as the Mortgage hereunder (including but not limited to stamp duty, attorney fees, notarial
fees, registration fees for this Contract as well as the fees and expenses in relation to the
insurance, delivery, storage, custody, appraisal, maintenance and repair of the Mortgage) shall be
paid or repaid by the Mortgagor.

13.2 Upon the request of the Agent Bank, the Mortgagor shall immediately indemnify the Agent Bank
in full against any and all reasonable fees and expenses incurred by the Agent Bank for its
exercise and performance of any of its rights hereunder or any of its rights under any and all
document mentioned herein, or for its exercise and performance of such rights in any judicial
district, including but not limited to the financial expenses, attorney fees and legal costs
incurred by the Agent Bank due to the disposal of Mortgage in accordance with Article 9 hereof.

13.3 The Mortgagor shall, from time to time, pay off any and all registration expenses and taxes
imposed on the Mortgagor presently or in the future for this Contract or for any and all document
mentioned herein.

 

12

 

13.4 The Mortgagor is obliged to pay in full any and all payment to the Agent Bank in accordance
with this Contract. The Mortgagor shall not make any claim such as offset of payment or
counterclaim, nor demanding any restrictive terms or conditions.

	14.	 	Modification of Parties

This Contract shall have legally binding effect on the Parties hereto as well as the lawful
successors and assignees of the Parties.

	15.	 	Information Disclosure

15.1 The Agent Bank shall have the duty of confidentiality to any and all information in relation
to any and all documents regarding this Contract provided to the Agent Bank by the Mortgagor or by
any other third party authorized by the Mortgagor (including but not limited to the appraisal
reports, insurance documents and documents of mortgage registration regarding to Mortgage).
However, the Agent Bank and the Mortgagee shall have the right to:

(1) disclose such information which has been known publicly (excluding the information which
becomes publicly known due to the Agent Bank’s breach of this clause;

(2) disclose such information in any judicial or arbitration proceeding;

(3) disclose such information in accordance with any laws and regulations;

(4) disclose such information to the Leading Bank or any Lender;

(5) disclose such information to any regulators such as governmental, financial or taxation
authorities;

(6) disclose such information to its professional consultants;

(7) disclose such information within the scope prescribed in Article 15.2;

(8) disclose such information upon receiving the consent of the Mortgagor.

15.2 The Mortgagee shall have the right to disclose the following information to any Affiliate, or
any third party which may enter into or has been entered into assignment agreement or any other
agreement in regard to this Contract with the Mortgagee (hereinafter referred to as the
“Participant”):

(1) any and all documents in relation to this Contract (including but not limited to the
appraisal reports, insurance documents and documents of mortgage registration) and the copies
thereof; and

(2) any information in relation to the documents as prescribed in the preceding paragraph
which has been obtained by the Mortgagee.

However, prior to obtaining any confidential information, the Participant shall deliver to the
Mortgagee a written undertaking in which it agrees to have the obligation of confidentiality
pursuant to Article 15.1 hereof.

15.3 The agreement as prescribed in Article 15.1 and Article 15.2 shall supersede any and all prior
undertakings regarding confidentiality in relation to this Contract which has been made by the
Mortgagee prior to its participation of this Contract.

 

13

 

	16.	 	Amendments and Supplements

16.1 The Agent Bank may make amendments to the terms and conditions hereunder with the Mortgagor
from time to time. In case such amendments involve modification to the registration of this
Contract, the Mortgagor shall be obliged to go through the formalities regarding amendments to
registration with the registration authorities together with the Agent Bank, and any amendments
made thereafter shall be binding on the Agent Bank and the Mortgagor.

16.2 In case of the Loan Agreement is amended as agreed in the Loan Agreement, where such
amendments to the Loan Agreement involve modification to the registration of this Contract, the
Mortgagor shall be obliged to go through the formalities regarding amendments to registration with
the registration authorities together with the Agent Bank.

16.3 As necessary to meet the needs to go through the formalities of mortgage registration, upon
the request of Agent Bank, the Mortgagor shall be obliged to enter into, with the Agent Bank, a
supplementary agreement to this Contract or any mortgage agreement conforming to the terms and
conditions herein and in compliance with the requirements made by the registration authorities.

	17.	 	Notices

17.1 Any notice, request, instrument or any other documents which will be delivered to any party
hereof pursuant to this Contract shall be in writing, and delivered to the receiving party in
accordance with the address, telex number, fax number with the contact noted (if any) as designated
by the receiving party from time to time. The addresses, telex number, fax number and the contacts
(if any) of the parties hereto are specified hereunder on the signature page.

17.2 Any communication among the parties hereto pursuant to this Contract shall be deemed received
by the receiving party under the following circumstances:

(1) received upon the actual delivery where such communication is made by courier service;

(2) received upon the completion of delivery and receipt of correct feedback or transmission
report where such communication is made by telex or fax;

(3) received upon the 12:00 PM at noon (Beijing Time) on the seventh (7th) business day after
posting if sent by registered letter with the correct address on it.

17.3 Where any party hereto makes amendments to its contact, address, telex or fax number, it shall
notify the other party hereto two (2) days after such amendments was made.

	18.	 	Grace and Partially Invalid

18.1 Any failure or delay by the Mortgagee and/or the Agent Bank to exercise any rights hereunder
shall not be deemed as the waiver of such rights. Any waiver or partial waiver of any certain
rights by the Mortgagee and/or the Agent Bank shall not prevent its exercise of such rights by
other means, or its subsequent exercise of such rights or its exercise of any other rights. The
rights and remedies agreed herein shall not prevent any other rights or remedies endowed to the
Mortgagee and/or the Agent Bank in accordance with the laws and regulations.

 

14

 

18.2 The invalidity or unenforceability of any provision herein in any time and in any aspect shall
not affect or impair the legitimacy, effectiveness or enforceability of any other provision
hereunder.

	19.	 	Applicable Laws and Jurisdiction

19.1 This Contract shall be governed by and construed according to the laws of People’s Republic of
China (including but not limited to the currently effective PRC laws, the administrative
regulations, decisions and orders published by the State Council of China, local decrees published
by the local people’s congress at different levels and rules published by the ministries and
commissions of the State Council of China and local people’s governments; but excluding laws and
regulations published in Hong Kong SAR, Macau SAR and Taiwan Region)

19.2 Any and all disputes arising from this Contract shall be solved through friendly consultations
among the parties hereto. In the event that the parties hereto fail to solve the disputes through
consultations, such disputes shall be governed by the people’s court at the jurisdiction where this
Contract was entered into.

	20.	 	Counterparts

20.1 This Contract is drafted and signed in Chinese.

20.2 Matters not mentioned herein shall be otherwise concluded by the Mortgagor and the Agent Bank
with a further supplementary agreement to be signed. Where such supplementary agreement involves
the modifications of the registered content in regard to this Contract, the parties related shall
go through the formalities of amendments to the registration in relation to such supplementary
agreement. Such supplementary agreement and this Contract shall have equal validity and legal
effect.

20.3 The appendices hereto shall constitute the effective integral parts of this Contract.

20.4 This Contract is executed in eight (8) official counterparts, with the Mortgagor, Mortgagee
and Agent Bank retaining one (1) counterpart respectively. The remaining counterparts shall be
temporally kept by the Agent Bank for the purpose of the registration of mortgage in regard to this
Contract. Each counterpart shall have the equal effectiveness.

 

15

 

Signature Page

The Borrower: Changzhou Trina Solar Energy Co., Ltd.

Address: No. 2 Tianhe Road, Electronic Industry Park, Xinbei District, Changzhou

Post Code: 213031

Person-in-charge: Gao Jifan

Telephone: 0519-85176833                     Fax: 0519-85176913

Contact Person: Zhang Yinhua

Authorized Signatory:

	 	 	 	 	 
	/s/
 
	 	[sealed]  
	 	 
	Name:

	 	Seal	 	 

Date: September 28, 2009

The Agent Bank: Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-Branch

Address: No. 311 Central Tongjiang Road, Xinbei District, Changzhou

Post Code: 213022

Person-in-charge: Xie Zhixin

Telephone: 0519-85198999                      Fax: 0519-85196151

Contact Person: Wang Jianping

Authorized Signatory:

	 	 	 	 	 
	/s/
 
	 	[sealed]
 
	 	 

	Name:

	 	Seal	 	 

Date: September 28, 2009

 

16

 

Appendix to the Maximum Amount Property Mortgage Contract:

The Syndicated Loan Agreement for the Solar PV Industry Vertical Integration Product Project with the Annual Capacity of 500MW

Mortgage List of the Maximum Amount Property Mortgage Contract

This List of Mortgaged Property is made as of September 28, 2009 in Xinbei District, Changzhou by
and between:

	 	1.	 	Changzhou Trina Solar Energy Co., Ltd., a limited company organized in Changzhou, Jiangsu
Province under the laws of the People’s Republic of China with the registered address at No.
2 Tianhe Road, Electronic Industrial Park, Xinbei District, Changzhou, Jiangsu Province, is
the Mortgagor of the contract (hereinafter referred to as “the Mortgagor”).

	 	2.	 	Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-branch as the agent of the
mortgage (hereinafter referred to as “the Agent Bank”).

WHEREAS,

The Mortgagor and the Agent Bank entered into the Maximum Amount Property Mortgage Contract
Regarding the Syndicated Loan Agreement for the Solar PV Industry Vertical Integration Product
Project with the Annual Capacity of 500MW (hereinafter referred to as the “Mortgage Contract”)
(No.: Changzhou Trina Solar Energy Co., Ltd. Syndicated Loan Mortgage No. 001), in accordance with
the Mortgage Contract, the Mortgagor shall provide mortgage guarantee on the strength of its
property in the interest of the Mortgagee (including Agricultural Bank of China Co., Ltd.,
Changzhou Branch, The Export-Import Bank of China, Nanjing Branch, Bank of Communications Co.,
Ltd., Changzhou Branch, China CITIC Bank Corporation Limited, Changzhou Branch and Bank of China
Limited, Changzhou Branch).

NOW, THEREFORE, the Parties hereto confirm the properties of the Mortgagor for the purpose of
guarantee hereunder are as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Quantity	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Mortgaged	 	 	Mortgaged	 	 	 	 
	 	 	 	 	 	 	Title Certificate	 	 	and Unit	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Value (Ten	 	 	Price (Ten	 	 	 	 
	 	 	 	 	 	 	of the Mortgage	 	 	(Square	 	 	 	 	 	 	Registration	 	 	 	 	 	 	Thousand	 	 	Thousand	 	 	 	 
	No.	 	Name of Mortgage	 	 	and Serial No.	 	 	meter)	 	 	Location	 	 	Authority	 	 	Insurance	 	 	Yuan)	 	 	Yuan)	 	 	Remark	 
	1
	 	State-owned Land Use Rights	 	Chang Guo Yong
(2008)
 No. 0247406	 	 	161475	 	 	Electronic Industry Park, Xinbei District	 	Changzhou Land and Resources Bureau	 	 	 	 	 	 	5878	 	 	 	5878	 	 	 	 	 
	2
	 	State-owned Land Use Rights	 	Chang Guo Yong (2008)
 No. 0262411	 	 	20700	 	 	Electronic Industry Park, Xinbei District	 	Changzhou Land and Resources Bureau	 	 	 	 	 	 	756	 	 	 	756	 	 	 	 	 
	3
	 	State-owned Land Use Rights	 	Chang Guo Yong (2009)
 No. 0305924	 	 	20923	 	 	Electronic Industry Park, Xinbei District	 	Changzhou Land and Resources Bureau	 	 	 	 	 	 	766	 	 	 	766	 	 	 	 	 
	 
	 	Total
	 	 	 	 	 	 	203098	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	7400	 	 	 	7400	 	 	 	 	 

 

17

 

The Mortgagor: Changzhou Trina Solar Energy Co., Ltd. (seal)

[sealed]

Legal Representative or Authorized Representative: (Signature)

/s/

 

The Agent Bank: Agricultural Bank of China Co., Ltd., Changzhou Xinbei Sub-Branch (seal)

[sealed]

Principal or Authorized Representative: (Signature)

/s/

 

 

18

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