Keepwell agreement中文一般译为“维好协议”或“支持协议”。这是母公司与子公司之间订立的增信协议，常见的情况是，母公司为中国境内注册的企业，子公司为境外关联实体。通过keepwell agreement，母公司在协议期限内为子公司提供债务担保，保证子公司财务稳定、具备偿债能力，在此情况下，子公司更有机会以优惠的条款获得贷款人和银行等提供的贷款。此外，keepwell agreement也能够增强股东、利益相关者和债券持有人的信心。

比如，A公司是B公司的子公司。现在，A公司原材料储备不足，急需100万元贷款购买原材料。但是，由于A公司信用等级较低，银行或供应商不愿意向A公司提供贷款。此时，A公司可以与B公司（其母公司）签订keepwell agreement，由B公司担保A公司在贷款期限内具有偿债能力且财务稳定。母公司对子公司的支持可以提高子公司的信用度，吸引更多的投资者。此外，这种增信措施也降低了债务风险和利率，同时提高了子公司的债券信用等级。由此可见，keepwell agreement能够帮助深陷财务困境的子公司偿还长期债务以及其他债务。

一般来说，keepwell agreement中会涉及以下条款：Agreement to Keep Well（表明母公司同意维好）；Successors（规定协议对各方及其各自的承继人有效）；Third Party Beneficiaries（限制对子公司公众股东赋予权利、利益、或义务）；Governing Law（明确适用法律）；Amendment（禁止在未经母公司和子公司明确同意的情况下修改协议条款和条件）。下文提供了有关“Keepwell Agreement”的示例条款（来源：https://www.sec.gov/Archives/edgar/data/1363202/000119312506172183/dex108.htm），仅供参考。

“1. Agreement to Keep Well. Parent shall take all actions necessary to ensure that the Company shall have sufficient available funds in United States Dollars to pay and discharge, when due and payable, any and all of the Obligations. The Parent’s agreement hereunder shall be, and is specifically limited to, payments expressly required to be made by the Company pursuant to the Obligations, and will be subject to the limitations contained in the Letter Agreement.

2. Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

3. Third Party Beneficiaries. The Representatives and any other parties to whom payment might be expressly required to be made by the Company pursuant to the Obligations are expressly intended to be third party beneficiaries of this Agreement (the “Keep Well Beneficiaries”). Except for the Keep Well Beneficiaries, nothing in this Agreement, express or implied, is intended to confer any rights, benefits or obligations hereunder upon any person (including, without limitation, any public stockholders) other than the parties hereto and their respective successors and assigns.

4. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its provisions concerning choice of law or choice of forum.

5. Amendment. No provision of this Agreement may be amended, supplemented or modified, nor may any of the terms and conditions hereof be waived, except by a written instrument executed by the Parent and the Company; provided that the Company shall not enter into or execute any such amendment, supplement or modification, or agree to any such waiver, that adversely affects the rights of the Keep Well Beneficiaries that has not previously been consented to in writing by each of the Representatives (which consent shall not be unreasonably withheld).

6. Not a Guaranty. This Agreement is not, and nothing contained herein and nothing done pursuant hereto by the Parent shall be deemed to constitute, a guaranty by the Parent of the payment of any obligation, indebtedness or liability of any kind or character whatsoever of the Company.

7. Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same agreement, and all signatures need not appear on any one counterpart. Copies of all such counterparts may be delivered by the parties by facsimile or other electronic transmission, which copies shall be valid and binding for all purposes.”

需要注意的是，keepwell agreement并不等同于guarantee agreement。前者是母公司在协议期限内有责任对子公司的财务状况进行监测，有义务在协议期内为子公司提供财务支持；而后者是在债务人不履行或无法履行债务时，保证人在协议期限内承担保证责任。正如上文示例条款所示，第6条明确规定本协议并非“Guaranty”，《元照英美法词典》对“Guaranty”的解释为“同意在在主债务人不履行债务时为之偿付债务或实施义务的允诺”。