Common use of Obligation of Borrower Unconditional Clause in Contracts

Obligation of Borrower Unconditional. Nothing contained herein or in the Loan Documents is intended to or shall impair, as between Borrower and the Holder only, the obligation of Borrower, which is absolute and unconditional, to pay to the Holder the Subordinated Indebtedness as and when the same shall become due and payable, or to affect the relative rights of the Holder and creditors of Borrower other than the Secured Parties.

Obligation of Borrower Unconditional. Nothing contained herein or in the Loan Documents is intended to or shall impair, as between the Borrower and the Holder Subordinated Lender only, the obligation of the Borrower, which is absolute and unconditional, to pay to the Holder holder of the Subordinated Indebtedness the Subordinated Indebtedness as and when the same shall become due and payablepayable in accordance with their terms, or to affect the relative rights of the Holder Subordinated Lender and creditors of the Borrower other than the Secured PartiesSenior Lender.