Common use of Obligation to Fund Absolute Clause in Contracts

Obligation to Fund Absolute. Each Lender’s obligations pursuant to this Section are absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including (i) the existence of any setoff, claim, abatement, recoupment, defense or other right that such Lender, any Affiliate thereof or any other Person may have against Swingline Lender, Agent, any other Lender or L/C Issuer or any other Person, (ii) the failure of any condition precedent set forth in Section 3.02 to be satisfied or the failure of Borrower Representative to deliver a Notice of Borrowing (each of which requirements Lenders hereby irrevocably waive) and (iii) any adverse change in the condition (financial or otherwise) of any Credit Party.

Appears in 2 contracts

Samples: Credit Agreement (Jakks Pacific Inc), Credit Agreement (Jakks Pacific Inc)

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Obligation to Fund Absolute. Each Lender’s 's obligations pursuant to this Section are clause (iii) above shall be absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including (iA) the existence of any setoff, claim, abatement, recoupment, defense or other right that such Lender, any Affiliate thereof or any other Person may have against the Swingline Lender, Agent, any other Lender or L/C Issuer or any other Person, (iiB) the failure of any condition precedent set forth in Section 3.02 2.2 to be satisfied or the failure of the Borrower Representative to deliver a Notice of Borrowing (each of which requirements the Lenders hereby irrevocably waive) and (iiiC) any adverse change in the condition (financial or otherwise) of any Credit Party.

Appears in 1 contract

Samples: Credit Agreement (Furniture Brands International Inc)

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Obligation to Fund Absolute. Each Revolving Lender’s obligations pursuant to this Section are absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including (i) the existence of any setoff, claim, abatement, recoupment, defense or other right that such Lender, any Affiliate thereof or any other Person may have against Swingline Lender, Agent, any other Lender or L/C Issuer or any other Person, (ii) the failure of any condition precedent set forth in Section 3.02 to be satisfied or the failure of Borrower Representative to deliver a Notice of Borrowing (each of which requirements Revolving Lenders hereby irrevocably waive) and (iii) any adverse change in the condition (financial or otherwise) of any Credit Party.

Appears in 1 contract

Samples: Credit Agreement (Symmetry Surgical Inc.)

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