Promise Clause Samples

Promise. Mendocino Brewing Company, Inc., a California corporation having its principal office at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and any successor (the "Company"), for value received, promises to pay to United Breweries of America Inc., a Delaware corporation or to its registered successors or assigns (the "Holder") the principal sum of Sixty Five Thousand and no/100 Dollars ($65,000.00) on presentation and surrender of this Convertible Note ("Note") on October 20, 1999 (the "Maturity Date"), and to pay interest on that principal sum at a rate equal to one and one-half percent (1.50%) per annum above the prime rate offered from time to time by the Bank of America in San Francisco, California. Interest payments shall be paid quarterly on the first day of the months of April, July, October, and January of each year.

Promise. Guarantor promises to pay any Obligation that ▇▇▇▇▇▇▇▇ has not promptly paid when due. Guarantor promises to pay irrespective of our actions or inactions regarding the Obligations, or whether we have enforced any security interest created under this Agreement. Guarantor further promises to pay irrespective of the invalidity, insufficiency, or unenforceability of any Obligation. Guarantor's obligations shall not be affected, modified or impaired by any counterclaim, set-off, deduction or defense based upon any claim the Guarantor may have against you (Merchant) or us, except payment or performance of the Obligations.

Promise. The parties hereto promise to abide by the terms of this agreement and intend to be legally bound thereby.

Promise. The Borrower covenants and hereby binds itself, that during the validity of this Agreement, except after obtaining written approval from the Lenders, the Borrower will not commit any or all of the following acts: (a) bind itself as a Guarantor to guarantee the debts of other persons or parties, whether in the form of personal guarantee, corporate guarantee and/or provide the assets of the Borrower as collateral in the form of mortgage, fiduciary, pledge, or any other form; (b) filed an application to be declared bankrupt by the Commercial Court or filed an Application for Suspension of Debt Payment (PKPU); and/or (c) carry out other business activities that have no relationship with the business being carried out which may affect the Repayment of the Loan Facility to the Lenders.

Promise. Subject to the other provisions of this Section 11, IMI agrees to defend and hold Customer harmless from and against all claims, losses, damages, judgments, awards, settlements, and costs (including reasonable attorneys’ fees), arising out of, or resulting from any litigation or proceeding brought by a Third Party alleging that Customer’s use of the Workflow in the Field pursuant to and in accordance with the terms of this Agreement (“Use”) constitutes infringement by the Customer of such Third Party’s Intellectual Property or Know-How.

Promise. Mendocino Brewing Company, Inc., a California corporation having its principal office at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ and any successor (the "Company"), for value received, promises to pay to United Breweries of America Inc., a Delaware corporation or to its registered successors or assigns (the "Holder") the principal sum of Seventeen Thousand Four Hundred Eighty Two and 77/100 Dollars ($17,482.77) on presentation and surrender of this Convertible Note ("Note") on June 30, 2000 (the "Maturity Date"), and to pay interest on that principal sum at a rate equal to one and one-half percent (1.50%) per annum above the prime rate offered from time to time by the Bank of America in San Francisco, California. Interest payments shall be paid quarterly on the first day of the months of April, July, October, and January of each year.

Promise. Lessee promises not to terminate the Agreement before it expires unless there is force majeure or serious breach of Agreement by the lessor. If the Agreement is terminated or is impossible to perform due to lessee’s fault, lessor is entitled to confiscate the deposit money and require lessee to pay the rents and other fees which is due on the original terminating date.

Promise. The claimant must establish that the defendants or their predecessor in title had represented that she will obtain an interest in property “either by making an express promise ……………..or by encouraging the claimant to believe that she will obtain such interest by words or conduct …. or by encouraging the claimant’s belief passively by remaining silent. It is not necessary for the claimant to prove that the defendants agreed that the promise or assurance would be irrevocable since it is the claimant’s detriment which makes the assurance binding and irrevocable provided that it was clearly intended to be acted upon. See ▇▇▇▇▇’▇ Principles of Equity 31st Ed. 10-17

Promise. The borrower promises to each participant bank from the effective date of this agreement to the liquidation date of all the unpaid funds under this agreement of the borrower: 15.1 The borrower should ensure the duties of each participant bank can become direct and unconditional duties at any time. 15.2 Once any of the following happens, the borrower should immediately notify the credit agent bank after the events: (1) Any default event; (2) Any lawsuits, arbitration or other legal procedures stated in Item 7 and 9 of Article 14.1 of this agreement; (3) The borrower suffers from mergence, separation, assets transfer exceeding RMB 10,000,000 with single sum, reorganization, shareholding reform, suspended business application, bankruptcy application, which enough effect the realization of creditor’s rights of participation bank; (4) The borrower suffers from the changes of appellation, legal representative, address, serious accidents, business stopping, business closing, register cancellation, suspended business license, illegal activities from legal representative or main principle, serious lawsuits or arbitration, great difficulties for production and operation, bad financial situation; (5) The borrower is aware of serious adverse event to be happened. 15.3 The borrower should maintain the legal, continuous and effective position of legal person and ensure him/her have necessary capacity of civil right and conducts to fulfill the agreement. 15.4 The borrower should obey all the applicable laws and rules and turn in all the taxes and charges to the government departments in time. 15.5 The borrower cannot decrease the registered capital and should ensure no adverse changes of business nature and scope. 15.6 The borrower should ensure the related transaction between the borrower and related party in any way or contents is fair and equitable. The borrower will not transfer the profit by non-fair related transaction to damage the legal rights and interest of participation banks. 15.7 Without the written consent of bank consortium, the borrower cannot sell, rent, transfer or dispose 10% of the total assets value of the borrower via one or more or serial sums in an accounting year (If there are a sum or serial sums of transaction, the total value can be accumulated). 15.8 Except the guarantee stated in the agreement or external guarantee existing before the effective date of the agreement and recorded in the credit agent bank, without the written consent of majori...