Repayment Undertaking Clause Samples
A Repayment Undertaking is a contractual commitment by one party to repay a specified amount of money under agreed terms. Typically, this clause outlines the repayment schedule, interest (if any), and the conditions under which repayment must occur, such as upon demand or at fixed intervals. Its core practical function is to provide assurance to the lender or beneficiary that the borrower is legally obligated to return the funds, thereby reducing credit risk and clarifying the parties’ financial responsibilities.
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Repayment Undertaking. Indemnitee furnishes the Corporation a written undertaking, executed personally or on his behalf, to repay, without interest, any Interim Expenses if it is ultimately determined that he is not entitled to indemnification; and
Repayment Undertaking. The Corporation’s obligations set forth herein with respect to any Indemnifiable Claim are contingent upon Indemnitee’s promptly executing a written undertaking, in the form attached as Exhibit A, with respect to such Indemnifiable Claim, agreeing to repay the full amount of any expenses advanced hereunder if it ultimately is determined that Indemnitee is not entitled to be indemnified by the Corporation for such amounts under the terms of this Agreement and applicable law.