Party A’s Commitment Clause Samples
Party A’s Commitment. 1. Party A shall provide Party B with statements and other documents that truly reflect its operating and financial status regularly or at any time upon Party B’s request. Party A promises that the above materials provided are legal, valid, true and complete.
2. During the loan period, any changes in Party A’s business decisions, including but not limited to equity transfer, reorganization, large-scale financing, acquisition and reorganization, asset or debt restructuring, asset disposal, merger, consolidation, division, shareholding system reform, bankruptcy liquidation, joint venture, cooperation, joint venture, contracting, leasing, foreign investment, foreign guarantee, reaching an agreement or arrangement with anyone to share its income or profits, providing any form of funds or financial support to anyone, substantially increasing debt financing, changing business scope and registered capital, changing the company’s articles of association, etc., which may affect Party A’s debt repayment ability, shall be notified to Party B in writing at least thirty working days in advance and obtain Party B’s prior written consent, implement the loan repayment responsibility or repay the loan in advance or provide a guarantee recognized by Party B.
3. Party A promises that Party B has the right to recover the loan in advance based on the recovery of Party A’s funds.
4. Party A shall actively cooperate with Party B in its business operations, loan payment management, and post-loan management, including investigation, understanding, and supervision of the basic situation of the enterprise, loan usage, business management matters, financial and business conditions, settlement transactions, and related transactions through on-site or off-site inspections. All expenses incurred by Party B due to Party A’s non-cooperation shall be borne by Party A.
5. Without Party B’s prior written consent, Party A shall not transfer or transfer the debts under this contract in any way.
6. If Party A transfers, leases, or disposes of all or part of its assets or operating income by setting up guarantees for debts other than debts under this contract, it shall notify Party B in writing at least thirty working days in advance and obtain Party B’s prior written consent.
7. If the following events occur, Party A shall notify Party B in writing and submit relevant materials within three days from the date of occurrence or possible occurrence:
(1) Force majeure events or default events relat...
Party A’s Commitment. Party A’s commitment: Keep non-public information confidential which is in the relevant documents, financial documents and other related documents provided when Party B carries out obligations, unless relevant laws and regulations or this contract has otherwise specified.
Party A’s Commitment. 1) Party A shall submit the financial statements and other relevant information regularly, including but not limited to annual, quarterly and monthly financial reports.
2) Any counter-guarantee agreement between the guarantors and Party A will not affect the Party B’s underlying rights under this contract.
3) Cooperated in Party B’s exam and inspection on the utilization of the loan as well as Party A’s financials and operations.
4) Under circumstances Party A or Guarantor’s capability of performing the contract might be affected, Party A should notify Party B in written in time. Those circumstances included but not limited to merger, division, decrease of capital, equity transfer, investment, a substantial increase of debt financing, a major asset and credit assignment. Party A should notify Party B in time, when the following things occurred:
A. changes of articles of association, the scope of business, registered capital and legal representative of Party A or Guarantor.
B. Any form of management mode change, including joint operation, invest and cooperate with foreigners, contract management, reorganization, restructuring, listing plan.
C. Party A is involved in major litigation or arbitration, or property or collateral is seized, detained or regulated, or set new guarantee in collateral.
D. Out of business, dissolution, liquidation, suspend business for rectification, cancellation, revocation of the business license or (be) filed for bankruptcy.
E. Shareholders, directors and senior management personnel suspected of serious cases or economic disputes.
F. Default events in other contracts.
G. Operating difficulties and financial situation has deteriorated.
Party A’s Commitment. In view of the following factors have an important impact on the determination of the transfer price, party A must make the following commitment:
5.1 The equity of the target company held by Party A does not have any other rights and defects.
5.2 There is no guarantee in the ownership of assets of the target company.
5.3 The target company has not provided any form of guarantee for any person.
5.4 All legal procedures necessary for the transfer of equity have been performed.
Party A’s Commitment. Party A shall be responsible for the completion of the development of the valve body and pneumatic valve head, the improvement of the process, and the development of such valve’s testing system and production test; Party A shall corporate with Party B to finish the integration and regulation of the process control valve’s mechanical, pneumatic and controlling mechanism.
Party A’s Commitment. Party A shall commit to ensure the safety and stability of the daily operation of its own service system, and bears the funds’ loss of Party B users due to Party A’s own service system problems;
Party A’s Commitment on the Normal Function of the Basic Facilities and Public Ancillary Structure
1. The permanent water and electricity of the Commodity Housing;
2. The access to the mailbox. If the use conditions are not satisfied within the dates set forth hereunder, the Parties agree that the following shall be applied: The overtime shall be deemed as the late delivery of the Commodity Housing and Party A shall bear the liability in accordance with the late delivery of the Housing.