No Defense or Set-Off. The obligation of the Company to make the payments pursuant to this Agreement and the G&R Notes shall be absolute and unconditional without defense or set-off by reason of any default by the Issuer under this Agreement or under any other agreement between the Company and the Issuer or for any other reason, it being the intention of the parties that the payments required hereunder will be paid in full when due without any delay or diminution whatsoever.
Appears in 3 contracts
Samples: Financing Agreement (Nevada Power Co), Financing Agreement (Sierra Pacific Power Co), Financing Agreement (Sierra Pacific Power Co)
No Defense or Set-Off. The obligation of the Company to make the payments pursuant to this Agreement and the G&R Notes shall be absolute and unconditional without defense or set-off by reason of any default by the Issuer under this Agreement or under any other agreement between the Company and the Issuer or for any other reason, it being the intention of the parties that the payments required hereunder will be paid in full when due without any delay or diminution whatsoever.. 4840-3734-7631.3
Appears in 1 contract
No Defense or Set-Off. The obligation of the Company to make the payments pursuant to this Agreement and the G&R Notes shall be absolute and unconditional without defense or set-off by reason of any default by the Issuer under this Agreement or under any other agreement between the Company and the Issuer Issuer, by reason of any cancellation of this Agreement and/or the Indenture under the circumstances described in Section 8.11 hereof and Section 12.14 of the Indenture or for any other reason, it being the intention of the parties that the 4847-5363-8470.4 payments required hereunder will be paid in full when due without any delay or diminution whatsoever.
Appears in 1 contract
