PROMISSEE Clause Samples
The PROMISSEE clause identifies the party in a contract who is the recipient of a promise or obligation from another party, known as the promisor. In practical terms, this clause clarifies which individual or entity is entitled to receive the benefit of a contractual commitment, such as payment, delivery of goods, or performance of services. By clearly designating the promissee, the clause ensures there is no ambiguity regarding who holds the rights under the contract, thereby preventing disputes and ensuring the enforceability of the agreement.
PROMISSEE. BUYER, upon notice from BR DISTRIBUIDORA that it shall pay the insurance premium set forth above and the corresponding expenses, shall have ten (10) days to make such payment.
PROMISSEE. BUYER FURTHER offers in full compliance with all clauses and conditions hereof, including for the payment of any and all monies due by PROMISSEE-BUYER to BR DISTRIBUIDORA during the effectiveness hereof, and any extensions thereof, in SECOND MORTGAGE, the property owned by BREDA TRANSPORTES E TURISMO LTDA., described below, the amount of which the undersigned estimate at ***** (R$*****), a land designated as Areas A, B, and C, located at Avenida Dom Jaime de Barros Camara, in Bairro Planalto, which begins at point 1, ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ r▇▇▇▇ ▇orner of Avenida Dom Jaime de Barros Camara, such point being 308.69 m away from the left ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ssa Oneda, from this point it follows on a straight line at 308.69 m towa▇▇▇ ▇5(degree)05'17"NW, confronting the left with Avenida Dom Jaime de Barros Camara, to which it confronts, until point 2, at this ▇▇▇▇▇ ▇▇ ▇▇▇▇▇cts to the right and follows in a curve to the right, in an equal radius of 9.00 m, to the distance of 14.14 m of concordance curve between the right corner of Avenida Dom Jaime de Barros Camara and the left corner of Travessa da Oneda, to w▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇f▇▇▇▇▇ until point 4; at this point it defl▇▇▇▇ to the right and follows on a straight line to the distance of 317.69 m and towards 74(degree)38'59"SE, confronting to the left with the property of Kumi Sato, Riuti Harada, Nelson Corazza, Andre Oneda and Francisco Vi▇▇▇▇▇▇▇▇▇ Filho, until po▇▇▇ ▇; ▇▇ ▇▇▇▇ p▇▇▇▇ ▇▇ ▇▇▇lects ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇lows on a straight line at a distance of 142.50 m, and towards 16(degree)07'58"SW, confronting the left with the property of Fiat Automoveis S/A until point 01, where the measures and confrontations started, enclosing an area of 43.855.93 m(2). [LOGO]PETROBRAS 5 DISTRIBUIDORA S.A.