This form provides boilerplate contract clauses that give further assurances and pre-closing assurances to the various parties of the contract agreement. Several different language options are included to suit individual needs and circumstances.
Franklin Ohio Negotiating and Drafting Further Assurances and Pre-Closing Assurances Provisions
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Franklin
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US-ND2205
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How to fill out Negotiating And Drafting Further Assurances And Pre-Closing Assurances Provisions?
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Further contract means a contract made subject to the terms and conditions of a contract of the Rubber Trade Association of North America, Inc. or The Association of the International Rubber Trade or the Singapore Commodity Exchange Limited or the International Rubber Association under which the rubber the subject
Further Term means any term of five (5) years subsequent to the Initial Term; Sample 2.
The parties undertake to take all necessary measures to avoid corruption, in particular that no payments, gifts or other advantage will be offered or accepted.
A covenant of further assurances is the related promise that the grantor will do whatever is necessary to remove a defect associated with title, such as an encumbrance, if it arises, and if the problem is not fixed, damages will be awarded.
A further assurances clause is part of the standard 'boilerplate' in most sophisticated commercial agreements. It provides that a party shall provide cooperation and assistance to the other party in executing duties under the contract.
The doctrine of adequate assurance allows a contract party with reasonable grounds to believe that its counterparty will be unable to perform, to demand that the counterparty provide adequate assurances that the counterparty will perform its contractual obligations.
A covenant of further assurances is the related promise that the grantor will do whatever is necessary to remove a defect associated with title, such as an encumbrance, if it arises, and if the problem is not fixed, damages will be awarded.
A survival clause or survival provision is a contractual clause allowing the parties to mutually agree to maintain the enforceability and legally binding status of certain contractual obligations past the expiration, termination or completion of the contract.
A further assurances clause is part of the standard 'boilerplate' in most sophisticated commercial agreements. It provides that a party shall provide cooperation and assistance to the other party in executing duties under the contract.