Party B promises Clause Samples
The 'Party B promises' clause establishes a binding commitment by Party B to perform certain actions or fulfill specific obligations outlined in the agreement. In practice, this clause may require Party B to deliver goods, provide services, make payments, or adhere to particular standards as specified in the contract. Its core function is to clearly define Party B's responsibilities, ensuring both parties understand what is expected and providing a basis for accountability if those promises are not met.
Party B promises. Without prior written consent by Party A, as of the execution date of this agreement, not to sell, transfer, mortgage or dispose in any other form any legitimate or beneficial interest of equity interest in Party C held by Party B, or to approve any other security interest set on it, with the exception of the pledge set on the equity interest of Party B subject to Equity Interest Pledge Agreement of Party B;
Party B promises in case of failing to perform or incompletely performing the obligations under the Contract, Party B is willing to accept the compulsory execution of the judiciary authority concerned, without the need of any judicial proceedings; Party A may, according to Article CCXXXVIII of the Civil Procedure Law, directly apply to the jurisdictional people’s court for compulsory execution, without the need of any judicial proceedings, and Party B should waive the defense right for Party A’s direct application for compulsory execution.
Party B promises a. Party B has legal rights to sign and fulfill the contract;
b. If Party B is a company, it has valid business license;
c. All the information Party B provided to Party A is accurate, complete, legal, and effective, there is no false, misleading, or material omission;
d. Party B will fulfill its obligation in good faith;
e. If there is any change of Party’s B’s address, phone, employment, Party B will notify Party A within 10 days;
f. Party B has read carefully and fully understands all the terms under this guarantee contract.
Party B promises. 13.6.1 All or part of the authorized management rights obtained under this contract shall not be granted or transferred to a third party in any way;
13.6.2 It shall not disclose to any third party any commercial secrets, business defects and all information and materials related to this contract;
13.6.3 itself does not engage in authorized operations in an industry similar to the above-mentioned authorized business projects, and does not supply third parties with all or part of the products or services within the scope of this authorized business in ways other than the sale of authorized shops;
13.6.4 Except for the products or services within the authorized business scope, seeking customers, conducting business arrangements or transactions, etc., outside the areas agreed in this contract and within the scope of the license;
13.6.5 If the “Ka Su Le” brand owned by Party A and its operating system continue existing, Party B shall bear the obligation of non-competition in the period of performance of this contract and [3] years after the termination of the contract; the relevant personnel of Party B shall comply with Party A’s provisions and shall sign a corresponding non-compete agreement or a letter of commitment with Party B, and shall be subject to the non-competition obligation during the period of [3] years after Party B’s authorized shop work and termination of labor relations. If Party B is in the direction of Party A to execute the non-competition agreement, Party A shall not pay Party B any compensation for non-competition; if Party B shall perform the non-competition agreement, Party B shall bear the compensation for its personnel in connection with the non-competition in accordance with the law.
(1) Participating in the operation of related business by investment, equity participation, cooperation, contracting, entrusted operation or any other means;
(2) Directly or indirectly accepting engagement with other companies or organizations to participate in related business;
(3) Obtaining economic benefits directly or indirectly from companies competing with Party A and its agents.
Party B promises. 1, Party B acquires the shares of Party A according to agreement has been authorized by the board of shareholders of Party B.
2, Party B promises that the name, location, registered capital and the business scope of the Company shall not be changed after the Company changes to a foreign investment company. All the original liabilities of the Company shall also be taken by Party B 3, Party B promises that all the original employees of the Company shall be re-arranged and sign new engagement contracts after the company changes to a foreign investment company.
Party B promises. 3.1. After signing of this Agreement, Party B shall finish approval procedures, business registration, and tax registration of the Project Company in CDHT by October 31, 2010. The initial registered capital of the Project Company shall be no less than USD 50 million (such amount shall be invested into the Project Company in phases within two (2) years according to existing laws and regulations but, if necessary as solely determined by Party B, can extend one (1) more year before the full investment is made completely in accordance with existing laws and regulations), and the investment scale shall reach the amount and based on the schedule stated in Article
Party B promises. If the government requisitions the collateral during the duration of Financing & Lease Agreement, Party A has the right to request Party B to pay off prior to the maturity.
Party B promises. Make the education and teaching management in accordance with national polices, laws and regulations, accept the supervision of education and administration bureau; complete the teaching plan and task under the national polices and laws legally and promise that after the collaboration the education obligation assumed as the part of public school of Suixian Hui School shall not be changed.