Fitch differentiates between the bonds that are guaranteed by Huarong International with the keepwell
structure from Huarong and a hypothetical bond issued by Huarong International.
(158) Soft-contracting instruments with uncertain enforceability even appear in conventional business environments: merchants exchange letters of credit with documentary defects; (159) railfreight carriers and shippers use informal and legally unenforceable contracts to implicitly alter regulatory constraints; (160) parent firms sometimes issue "comfort letters" or "keepwell
agreements" in support of the financial obligations of a subsidiary; (161) underwriters commonly issue "best efforts" commitment letters to an issuer in connection with initial public offerings; (162) and cable-television operators enter into "unsigned but operative" agreements with video-programming distributors.
"The presentation notes that these potential support actions would include "keepwell
." agreements and excess-of-loss reinsurance agreements, which would ultimately terminate upon sale of the subsidiary," the GAO report said.
be supported by the bond trustee and a keepwell
and liquidity support
The duty to update is only an opportunity to ** Bids can be improved by provide "new" information--i.e., providing construction and/or address new litigation or keepwell
To a lesser extent, guarantee variants such as keepwell
, support and comfort letters are accepted based on the financial strength of the providing party and internal policies of the accepting party.
In place of a guarantee, SDH has granted a keepwell
deed and a deed of equity interest purchase undertaking to ensure SDIH and YIL have sufficient assets and liquidity to meet their obligations under the note guarantee.
The senior unsecured debt ratings of Sojitz subsidiaries supported by keepwell
agreements have also been upgraded to B1 from B2, Moody's said.
They are aiming to provide information and support on getting through the cold months with a KeepWell
Nikko Cordial Securities has a keepwell
agreement entered into with Sumitomo Mitsui Banking Corp.
Foods LLC, Laguna Beach, CA, has launched a privately owned nutritional food and beverage manufacturing company.