The protagonist has been promised a night (or day) of fleshy passion by his much younger female interest. He must go to great lengths to collect on her promise. He asks her to consider the extremely disappointed examples he lays out. Presumably, fulfilling her promise will save him from a similar fate. The wording "Though your promise counts for nothing.." Is an insult she must have earned and acknowledged. Otherwise, he would not say such a thing while asking her to follow through on the promise. Normally you would butter-up someone who may choose not to help you. He must hold some power over her. His boldness may be the only thing that still attracts her. The last verse implies their affair was not consummated, and that is why he is still speaking from the other side of sorrow and despair. She has broken free and left him a wreck, but he earned it.