Common use of No Defense or Set-Off Clause in Contracts

No Defense or Set-Off. The obligations of the Company to make the payments required under Section 4.1 of this Agreement and under the Mortgage Bonds shall be absolute and unconditional, without defense, recoupment or set-off by reason of any default by the Authority under this Agreement or under any other agreement between the Company and the Authority or for any other reason, or failure of the Authority to perform and observe any agreement, whether express or implied, or any duty, liability or obligation to the Company, whether or not arising out of or connected with this Agreement, it being the intention of the parties that the payments required by the Company under the Mortgage Bonds and this Agreement will be paid in full when due without any delay or diminution whatsoever.‌

No Defense or Set-Off. The obligations of the Company to make the payments required under Section 4.1 of this Agreement and under the Mortgage Bonds shall be absolute and unconditional, without defense, recoupment or set-off by reason of any default by the Authority under this Agreement or under any other agreement between the Company and the Authority or for any other reason, or failure of the Authority to perform and observe any agreement, whether express or implied, or any duty, liability or obligation to the Company, whether or not arising out of or connected with this Agreement, it being the intention of the the‌ parties that the payments required by the Company under the Mortgage Bonds and this Agreement will be paid in full when due without any delay or diminution whatsoever.‌whatsoever.

No Defense or Set-Off. The obligations of the Company to make the payments required under Section 4.1 of this Agreement and under the Mortgage Bonds shall be absolute and unconditional, without defense, recoupment or set-off by reason of any default by the Authority under this Agreement or under any other agreement between the Company and the Authority or for any other reason, or failure of the Authority to perform and observe any agreement, whether express or implied, or any duty, liability or obligation to the Company, whether or not arising out of or connected with this Agreement, it being the intention of the parties that the payments payments‌ required by the Company under the Mortgage Bonds and this Agreement will be paid in full when due without any delay or diminution whatsoever.‌whatsoever.