Hell or High Water Contract(redirected from Promise-to-Pay Contracts)
Hell or High Water Contract
A contract including a clause stating that payments must be made regardless of what happens. Specifically, a hell or high water contract requires one party to continue to receive payments even if an act of God prevents the contract from being completed. For example, suppose two parties sign a contract renting an apartment. The contract may contain a hell or high water clause saying that the renter must pay rent every month even if the apartment floods or burns down. It is also called a promise to pay contract.