Promised Clause Samples

Promised. Items The Client makes the following promises: (1) The Client shall strictly observe and execute all the obligations stipulated under this Agreement; (2) The Client shall timely repay the principle and interests of the financed fund and pay the corresponding fees. The Client shall process, receive, and abide all the approvals, authorizations, registrations, and licensing required by the applicable laws and shall maintain their effectiveness, allowing the Client to legally sign and fulfill the obligations stipulated under this Agreement and any other documents associated with this Agreement. In case of request from the Financing Bank, the Client shall promptly provide the related proof; (3) Within five working days of learning of its possible involvement in an economic, civil, criminal, administrative litigation procedures or similar arbitration proceedings that may lead to unfavorable impact or within five working days of learning of its major assets are involved in any compulsory execution, seizure, detainment, freezing, lien, or supervisory control, the Client shall notify the financing bank in writing detailing the impact and the remedial measures taken or plan to be taken; (4) Without a written approval from the Financing Bank, repayment of large amount of debts to a third party other than the Financing Bank or fulfillment of any guarantee liability is prohibited (5) Without a written approval from the Financing Bank, occurrence of any other large amount of debts or existing debts or setting or providing any form of collateral with first priority nature to any other debts for itself or any third party is prohibited. Starting from the signing date of this Agreement to the full repayment of all the debts under this Agreement, without a written approval from the Financing Bank, the Client shall not a. undergo liquidation, reconstruction, bankruptcy, being buy-out, merger, separation, restructuring, dissolution, shutdown, suspension of business, or similar legal procedures; b. other than the need for the daily operation, undergo sale, lease, donation, transfer or any other types of method of disposition of any of its major assets; c. undergo any change in the structuring of shares; d. undergo signing of Contract/Agreement that may have major unfavorable impact to fulfill the obligations stipulated under this Agreement or bear any obligations that may have the same impact.