Exhibit 10.14
Mortgage Contract of Maximum Amount
Mortgage Contract of Maximum Amount signed by and between Shenzhen BAK Battery Co., Ltd (“the Company”) and
Shenzhen Development Bank (“Development Bank”) dated as of April 5, 2006.
Main contents:
Headlines of the articles omitted:
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Contract number: Shenfa Longgang edi zi NO.20060329001.
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As guarantor, the Company has pledged all its machineries and equipments to Development Bank to secure the
indebtedness of the Company under the Comprehensive Credit Facilities Agreement (reference no.: Shenfa Longgang
Zongzi 20060329001, hereinafter referred to as Master Agreement”) which include the loan principal, interest, penalty
interest, expenses for the Lender to realize its creditor’s rights, and maximum secured amount for the loan principal is
RMB150 million. Purchase price of such machineries and equipments is RMB 97.16million while its current value is
RMB79.46 million.
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During the term of Mortgage Contract , the pledged machineries and equipments shall be kept and maintained by the
Company; If value of such pledged machineries and equipments is reduced, Development Bank is entitled to request the
Company to restore the pledged value or provide additional collateral;
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Title certificates of the pledged machineries and equipments shall be kept by Development Bank;
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Without Development Bank’s consent, the Company is not entitled to transfer registered pledge collaterals, but if transfer
consideration is less than the pledge value, Development Bank is entitled to request the Company to provide additional
collateral for the difference; otherwise the Company should not transfer the pledged collaterals.
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Proceeds for transfer of pledged collaterals shall be used in priority for advanced repayment of the debts secured or be
handed over to the escrow control of a third party agreed by Development Bank.
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The Company