Undertaking Letter Sample Clauses
An Undertaking Letter is a formal written commitment by one party to perform certain actions or fulfill specific obligations as agreed with another party. Typically, this letter outlines the exact responsibilities being assumed, the timeframe for performance, and any conditions that must be met, such as providing documentation or making payments. Its core practical function is to provide assurance and legal accountability, ensuring that the party making the undertaking is bound to their promises, thereby reducing uncertainty and risk for the recipient.
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Undertaking Letter. The Company shall have duly executed and delivered to Sequoia an undertaking letter in the form attached hereto as Exhibit G.
Undertaking Letter. Pursuant to the undertaking letter entered between, among others, Aideweixuan, Shanghai Boming and SHIVC Investment dated 20 August 2020, SHIVC Investment has, among other matters, undertaken to each of Aideweixuan and Shanghai Boming the following matters regarding the indirect investment through Innovital Baoli and Shanghai Wentang:
(a) in order to protect the interest of the Partnership, SHIVC Investment shall procure each of Innovital Baoli and Shanghai Wentang to set up an independent simulated capital account for the Partnership in order to record the investment amount, distributable profit, loss, cost sharing (if any) at the level of Innovital Baoli and Shanghai Wentang;
(b) SHIVC Investment shall procure Innovital Baoli not to sell, dispose or create any mortgage, charge or encumbrance on any indirect investment made by Shanghai Wentang for and on behalf of the Partnership without the written consent of Aideweixuan and Shanghai Boming;
(c) if the investment on the relevant Qualified Investment Project by Shanghai Wentang has not been approved by the investment decision committee of the Partnership, any income or loss derived from such investment project shall not be counted towards the simulated capital account of the Partnership at Innovital Baoli and Shanghai Wentang;
(d) after receiving any profit (including but not limited to dividend, income derived from the sale or disposal of investment projects) derived from the Qualified Investment Project, Innovital Baoli and Shanghai Wentang shall distribute the profit to the Partnership within 20 business days from the date of receiving the profit in accordance with the terms of the Undertaking Letter; and
(e) SHIVC Investment shall use reasonable endeavours to procure each of Innovital Baoli and Shanghai Wentang to return or distribute any income or profit under the simulated capital account in accordance with the terms of the Undertaking Letter.
Undertaking Letter. The Company shall notify the Underwriter as soon as practicable thereafter of fulfilment by the Committed Shareholders of their obligations under the Undertaking Letter and whether the conditions referred to therein (if any) have been fulfilled and in any event by not later than the Latest Time for Acceptance.