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 4.2 hereof shall be absolute and unconditional without defense, recoupment 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, including, without limitation, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Project, condemnation, failure of title, or commercial frustration of purpose, or failure of the Issuer 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 under Section 4.2 hereof will be paid in full when due without any delay or diminution whatsoever.