Character of Obligations Hereunder. The obligations of the Company under this Agreement are primary, absolute, independent, irrevocable and unconditional. The Company understands and agrees that no payment by it under any other agreement (whether voluntary or involuntary or pursuant to court order or otherwise) shall constitute a defense to the several obligations hereunder except to the extent that the Bank has been indefeasibly paid in full.
Appears in 4 contracts
Samples: Letter of Credit Agreement (Bovie Medical Corp), Letter of Credit Agreement (Flanders Corp), Letter of Credit Agreement (Sterigenics International)
