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Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instrum. A further assurance clause is a provision that requires a party to do or provide something additional to fulfill the agreement. Find examples of further assurances clauses in contracts from various sources and industries
Louisiana Negotiating and Drafting Further Assurances and Pre-Closing
A further assurances clause is a provision that requires a party to take additional actions or execute additional documents to protect the interests of another party. Find examples of further assurance clauses in contracts from various sources and industries A further assurance clause is included in many contracts to ensure everybody involved will carry out the actions and help meet the contract's intentions.
Search further assurances contract clauses from contracts filed with the securities and exchange commission.
A further assurances clause is part of the standard ' boilerplate ' [1] 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. A further assurances clause evidences the agreement of the contracting parties to do everything necessary to complete the transactions contemplated by the contract There is some debate about whether such a clause is necessary, given the implied duty to cooperate
However, as the application of the implied duty of cooperation is dependent on the individual circumstances of each case, it. Further assurances clause obligates parties to take additional actions necessary to fulfill contract terms It ensures agreements are implemented effectively. In a basic further assurances provision, the parties agree to take care of any paperwork required to complete transaction formalities that haven't been completed by the time of the closing
The aim is primarily to prevent either party from refusing to sign a document required to transfer assets
That should be unobjectionable, but i see some problems Further assurances a further assurances clause requires the parties involved in a contract to take additional actions necessary to fulfill the terms and intents of the agreement, even after the contract has been signed This provision ensures that both parties cooperate in good faith to accomplish the contract's objectives and resolve any unforeseen issues that may arise.
