Common use of Obligation Unconditional Clause in Contracts

Obligation Unconditional. The obligation of each Participant to respond to individual cash calls as set forth in Section 3.02 shall be irrevocable and unconditional except as this Agreement may specifically provide otherwise. Without limiting the generality of the foregoing, such obligation shall not be affected by the modification or abandonment of the Participant's (or its Associated Producer's) plans to construct a Qualifying Facility or by the partial or complete failure or a Qualifying Facility owned or operated by the Participant or its Associated Producer, or of any equipment, plant, geothermal resource, or facility associated therewith.

Appears in 4 contracts

Samples: Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.)

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