Common use of Obligations Irrevocable Clause in Contracts

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through Agent with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Convergent Communications Inc /Co)

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Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through Agent with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, Agent for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, Agent, the issuer of such Letter of Credit, Credit or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan DocumentsDocuments in accordance with the terms of this Agreement; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Employee Solutions Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through Agent with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Lenders shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoffset-off, defense defense, or other right which Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower or any other Person and the beneficiary named in any Letter of Credit); (iiiC) any draft, certificate certificate, or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid invalid, or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (vE) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Todays Man Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever , including including, without limitation, any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iiiC) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (vE) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Weirton Steel Corp)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Agent with respect to any Letter for the account of Credit the Agent or with respect to any credit support or enhancement provided through Agent CIT with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit or Acceptance shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever and shall be made in accordance with, including but not subject to, the terms and conditions of this Agreement under all circumstances, including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Related Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit or any holder of a draft (or any Person for whom any such transferee may be acting), the Agent, Letter of Credit Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, draft or Acceptance the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person party and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Related Documents; (v) any failure by the Agent to provide any notices required pursuant to this Agreement relating to Letters of Credit drafts or Acceptances; or (vvi) the occurrence of any Event of Default or Event of Potential Default.

Appears in 1 contract

Samples: Revolving Credit Agreement (Best Products Co Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make ------------------------ payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement Credit Support provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default Event or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Agent with respect to any Letter for the account of Credit the Agent or with respect to any credit support or enhancement provided through Agent CIT with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever and shall be made in accordance with, including but not subject to, the terms and conditions of this Agreement under all circumstances, including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Related Documents; (ii) the existence of any claim, setoffset off, defense or other right which Borrower the Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), the Agent, Letter of Credit Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including including, without limitation, any underlying transactions between Borrower the Borrowers or any other Person party and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Related Documents; (v) any failure by the Agent to provide any notices required pursuant to this Agreement relating to Letters of Credit; or (vvi) the occurrence of any Event of Default or Event of Potential Default.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (American Architectural Products Corp)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Agent with respect to any Letter for the account of Credit the Agent, CIT or with respect to any credit support or enhancement provided through Agent WLR with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever and shall be made in accordance with, including but not subject to, the terms and conditions of this Agreement under all circumstances, including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Related Documents; (ii) the existence of any claim, setoff, defense or other right which Borrower the Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit or any holder of a draft (or any Person for whom any such transferee may be acting), the Agent, Letter of Credit Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower the Borrowers or any other Person party and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Related Documents; (v) any failure by the Agent to provide any notices required pursuant to this Agreement relating to Letters of Credit; or (vvi) the occurrence of any Event of Default or Event of Potential Default.

Appears in 1 contract

Samples: Revolving Credit Agreement (Planet Hollywood International Inc)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Administrative Agent with respect to any Letter for the account of Credit the Agents, NationsBanc, CIT or with respect to any credit support or enhancement provided through Agent the L/C Issuer with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit shall be irrevocable, not subject to without any qualification or exception whatsoeverwhatsoever and shall be made in accordance with the terms and conditions of this Agreement under all circumstances, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which a Borrower may have at any time against a beneficiary named in a such Letter of Credit or any transferee of any such Letter of Credit (or any Person for whom any such transferee may be acting), the Agents, L/C Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any such Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between any Borrower or any other Person party and the beneficiary named in any such Letter of Credit); (iii) any draft, certificate or any other document presented under the such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; (v) any failure by NationsBanc, CIT or the Administrative Agent to provide any notices required pursuant to this Agreement relating to such Letter of Credit; (vi) any payment by the L/C Issuer under any of the Letters of Credit against presentation of a draft or certificate which does not comply with the terms of such Letter of Credit; or (vvii) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Financing Agreement (Norton McNaughton Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of Borrower Borrowers to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which Borrower Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower Borrowers or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Neostar Retail Group Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Revlon Consumer Products Corp)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Administrative Agent with respect to any Letter for the account of Credit the Administrative Agent or with respect to any credit support or enhancement provided through Agent CIT with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever and shall be made in accordance with, including but not subject to, the terms and conditions of this Agreement under all circumstances, including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Related Documents; (ii) the existence of any claim, setoffset off, defense or other right which Borrower the Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), the Administrative Agent, Letter of Credit Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower the Borrowers or any other Person party and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Related Documents; or (v) the occurrence of any Default or Event of Default.;

Appears in 1 contract

Samples: Credit Agreement (Genesis Direct Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement Credit Support provided through the Agent with respect to a Letter of Credit, and the obligations of Borrower the Borrowers to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which a Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between any Borrower or any other Person and the beneficiary named in any Letter of Credit); (iiiC) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (vE) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Manhattan Bagel Co Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever , including including, without limitation, any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); ; (iiiC) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; ; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (LDM Technologies Co)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Agent with respect to any Letter for the account of Credit the Agent, CIT/CS or with respect to any credit support or enhancement provided through Agent an L/C Issuer with respect to a Letter of Credit, and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Credit shall be irrevocable, not subject to any qualification or exception whatsoeverwhatsoever and shall be made in accordance with, including but not subject to, the terms and conditions of this Agreement under all circumstances, including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Financing Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting)) , the Agent, L/C Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person party and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; (v) any failure by the Agent to provide any notices required pursuant to this Agreement relating to Letters of Credit; or (vvi) the occurrence of any Event of Default or Event of Default.

Appears in 1 contract

Samples: Financing and Security Agreement (Andover Togs Inc)

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Obligations Irrevocable. The obligations of each ----------------------- Lender the Agent to make payments to Agent with respect to any Letter for the account of Credit or with respect to any credit support or enhancement provided through Agent the L/C Issuer with respect to a Letter of CreditCredit issued by Bank Leumi, and the obligations of Borrower to make payments to Agent, for the account of the Lendersas L/C Issuer, shall be irrevocable, not subject to without any qualification or exception whatsoeverwhatsoever and shall be made in accordance with the terms and conditions of this Agreement under all circumstances, including including, without limitation, any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a such Letter of Credit or any transferee of any such Letter of Credit (or any Person for whom any such transferee may be acting), the Agent, Bank Leumi, as L/C Issuer, any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any such Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person party and the beneficiary named in any such Letter of Credit); (iiiC) any draft, certificate or any other document presented under the such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; (E) any failure by Bank Leumi, as L/C Issuer, or the Agent to provide any notices required pursuant to this Agreement relating to such Letter of Credit; (F) any payment by Bank Leumi, as L/C Issuer, under any of the Letters of Credit against presentation of a draft or certificate which does not comply with the terms of such Letter of Credit; or (vG) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Revolving Credit Agreement (Alon USA Energy, Inc.)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement Credit Support provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i1) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii2) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii3) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv4) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Sweetheart Holdings Inc \De\)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement Credit Support provided through the Agent with respect to a Letter of Credit, and the obligations of each Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which such Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between such Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to Agent with respect to any Letter of Credit or with respect to any other credit support or enhancement provided through Agent with respect to a Letter of Credit, and the obligations of Borrower Borrowers to make payments to Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense defense, or other right which any Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between such Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate certificate, or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid invalid, or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (General Datacomm Industries Inc)

Obligations Irrevocable. The obligations of each ----------------------- LC Lender to make payments to the Administrative Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through Agent with respect to a Letter of Credit, their participation therein and the obligations of the Borrower to make payments to the Administrative Agent, for the account of the LC Lenders, shall be irrevocable, irrevocable and shall not be subject to any qualification or exception whatsoever, including any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any LC Lender, the Administrative Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between any Borrower or any other Person and the beneficiary named in any Letter of Credit); (iiiC) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or; (vE) the occurrence of any Default or Event of Default; or (F) the failure of the Borrower to satisfy the applicable conditions precedent set forth in Article 8.

Appears in 1 contract

Samples: Debt Agreement (Foamex International Inc.)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of each Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including any of the following circumstances: (iA) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (iiB) the existence of any claim, setoff, defense or other right which any Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of CreditL/C Issuer, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between any Borrower or any other Person and the beneficiary named in any Letter of Credit); (iiiC) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ivD) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (vE) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Phar Mor Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement Credit Support provided through the Agent with respect to a Letter of Credit, and the obligations of the Borrower to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Obligations Irrevocable. The obligations of each ----------------------- Lender to make payments to the Agent with respect to any Letter of Credit or with respect to any credit support or enhancement provided through the Agent with respect to a Letter of Credit, and the obligations of Borrower the Borrowers to make payments to the Agent, for the account of the Lenders, shall be irrevocable, not subject to any qualification or exception whatsoever, including including, without limitation, any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii) the existence of any claim, setoff, defense or other right which Borrower the Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between Borrower the Borrowers or any other Person and the beneficiary named in any Letter of Credit); (iii) any draft, certificate or any other document presented under the Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any ofany of the terms of any of the Loan Documents; or (v) the occurrence of any Default Event or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Trend Lines Inc)

Obligations Irrevocable. The obligations of each ----------------------- a Lender to make payments to the Administrative Agent with respect to any Letter for the account of Credit or with respect to any credit support or enhancement provided through the Administrative Agent with respect to a Letter of Credit, Credit Guarantee or the Letter of Credit Issuer with respect to a Letter of Credit (and the obligations of Borrower to make payments to Agent, for the account of the Lenders, Borrowers to reimburse the Lenders for such payments) shall be irrevocable, not subject to without any qualification or exception whatsoeverwhatsoever and shall be made in accordance with the terms and conditions of this Agreement under all circumstances, including including, without limitation, any of the following circumstances: (i1) any lack of validity or enforceability of this Agreement or any of the other Loan Documents; (ii2) the existence of any claim, setoff, defense or other right which a Borrower may have at any time against a beneficiary named in a such Letter of Credit or any transferee of any such Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Administrative Agent, the issuer of such Letter of CreditCredit Issuer, any Lender, or any other Person, whether in connection with this Agreement, any such Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between either Borrower or any other Person party and the beneficiary named in any such Letter of Credit); (iii3) any draft, certificate or any other document presented under the such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; or (v) the occurrence of any Default or Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Donnkenny Inc)

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