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Einstandserklärung

English translation: Undertaking of support

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Einstandserklärung
English translation:Undertaking of support
Entered by: Marcus Malabad
Options:
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- Include in personal glossary

14:08 May 28, 2003
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: Einstandserklärung
Wir erklaeren uns fuer den Fall des Abschlusses des Rahmenvertrages bereit, dass die beteiligten Gesellschaften bis zur Beendigung des Vertrages in der Weise finanziell ausgestattet bleiben, dass sie zur Erfuellung ihrer Verpflichtungen in der Lage bleiben.
EMatt
Local time: 21:26
Undertaking of support
Explanation:
is what it looks like to me; that the company making the commitment is guaranteeing funding to enable the other companies to carry on business as usual, if the "outline agreement" is signed. Looks a little like a company merger, where the participants may be on shaky ground once the news gets out.
Selected response from:

David Moore
Local time: 03:26
Grading comment
That may be the best fit.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1shareholder undertaking
Richard Hall
4Shareholder Assurances
Maureen Holm, J.D., LL.M.
4Memorandum of Understandinggangels
3Declaration of initial committment
Gisela Greenlee
3Undertaking of supportDavid Moore
3 -1Initial terms
Kim Metzger


  

Answers


9 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
Initial terms


Explanation:
Might be possible. This is based on Einstandsbedingungen in Romain.

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Note added at 2003-05-28 14:39:13 (GMT)
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Initial declaration

Kim Metzger
Mexico
Local time: 20:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1209
Grading comment
Comfort letter may be close.

Peer comments on this answer (and responses from the answerer)
disagree  Maureen Holm, J.D., LL.M.: Don't see anything 'initial' here. If anything, there's a continuing warranty.
7 hrs
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The asker has declined this answer
Comment: Comfort letter may be close.

35 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
shareholder undertaking


Explanation:
If this is the title of a paragraph in a contract, it would be called a shareholder('s) undertaking. I believe the Einstand here is related to einstehen fuer or to guaranatee. This means an alternative title for the para. could be shareholders' guarantee.

Richard Hall
United States
Local time: 21:26
Specializes in field
Native speaker of: English
PRO pts in category: 15
Grading comment
there are no shareholders involved in this case.

Peer comments on this answer (and responses from the answerer)
agree  Maureen Holm, J.D., LL.M.: I think "Shareholder Assurances" will do it, rather than imputing an affirmative guarantee undertaking. Not necessarily a promise of addit'l contriubtions to capital, they're promising to leave capital in.
7 hrs
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The asker has declined this answer
Comment: there are no shareholders involved in this case.

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
Memorandum of Understanding


Explanation:
I'd call it relative to its subsequent text. It is not legally enforceable, but carries weight in terms of good business practices.

gangels
Local time: 19:26
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 321
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
Declaration of initial committment


Explanation:
This might be a good fit.

Gisela Greenlee
Local time: 20:26
Native speaker of: German
PRO pts in category: 32
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
Undertaking of support


Explanation:
is what it looks like to me; that the company making the commitment is guaranteeing funding to enable the other companies to carry on business as usual, if the "outline agreement" is signed. Looks a little like a company merger, where the participants may be on shaky ground once the news gets out.

David Moore
Local time: 03:26
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 370
Grading comment
That may be the best fit.

Peer comments on this answer (and responses from the answerer)
neutral  Maureen Holm, J.D., LL.M.: Not sure how "shaky." It's consistent with typical representations and warranties that the company's financial condition will be unchanged between the date of contracting (per due diligence review) and the closing.
6 hrs
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7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Shareholder Assurances


Explanation:
In the acquisition context, buyers are concerned that the company's financial condition be maintained. I wouldn't go so far as to speak in terms of guarantees because the mechanics there are that the obligee would first have to default before the guarantor can be tapped.

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Note added at 2003-06-05 23:25:46 (GMT)
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It is a term of art in the law. Here\'s a common context:

Termination for Default Justified If Contractor Does Not Respond ...
... held that when the government justifiably issues a cure notice, the contractor has
an obligation to take steps to demonstrate or *give assurances* that progress ...
www.constructionweblinks.com/Resources/Industry_Reports__Ne... April_9_2001/termination_for_default.htm

Maureen Holm, J.D., LL.M.
United States
Local time: 21:26
Native speaker of: Native in EnglishEnglish
PRO pts in category: 68
Grading comment
No acquisitions are involved. It is a pure contract situatio
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The asker has declined this answer
Comment: No acquisitions are involved. It is a pure contract situatio




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Changes made by editors
Oct 30, 2006 - Changes made by Marcus Malabad:
Term askedEinstandserklaerung » Einstandserklärung
Field (specific)(none) » Law: Contract(s)
Oct 30, 2006 - Changes made by Marcus Malabad:
LevelNon-PRO » PRO


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