DEFINITION of 'Hell or High Water Contract'
A non-cancelable contract whereby the purchaser must make the specified payments to the seller, regardless of any difficulties they may encounter.
INVESTOPEDIA EXPLAINS 'Hell or High Water Contract'
Hell or high water clauses bind the purchaser or lessee to the terms of the contract until the contract's expiration.
Also known as a promise to pay contract.
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A standard agreement used in over-the-counter derivatives transactions.