Concerning the Beneficiaries. The Guarantors acknowledge that no Beneficiary shall have any obligation to perform any duty, covenant or condition hereunder. The Guarantors further acknowledge and agree that the rights of the beneficiaries in and to any payments hereunder in respect of obligations assigned by the Master Lessee shall not be subject to any defense, setoff, or recoupment or reduction of any kind for any reason (whether asserted by counterclaim or otherwise) whatsoever. including, without limitation, any other indebtedness or liability, howsoever and whenever arising, of the Master Lessee to the Guarantors or to any other Person or for any cause whatsoever, it being the intent hereof that the Guarantors shall be unconditionally and absolutely obligated to pay the Beneficiaries all amounts due hereunder for so long as the Master Lease is in effect.
Concerning the Beneficiaries. 23 11.1. Evidence of Action by Beneficiaries................................23 11.2. Limitation on Suits by Beneficiaries...............................23 11.3.
Concerning the Beneficiaries. 17 11.1 EVIDENCE OF ACTION BY BENEFICIARIES...............................17 11.2 LIMITATIONS ON SUITS BY BENEFICIARIES.............................18 11.3 REQUIREMENT OF UNDERTAKING........................................18
Concerning the Beneficiaries
